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Sibos Issues I Sibos 2018 Sydney I 22-25 October WRAP-UP EDITION Sibos Issues I Sibos 2018 Sydney I 22-25 October Expect the Catching up with A problem Meshing new Asia’s great unexpected the customer shared … with old leap forward page 6 page 12 page 18 page 24 page 30 Sibos 2018 Sydney PUBLISHER’S LETTER in numbers Contents page TOTAL PARTICIPANTS MALE 73% FEMALE 27% 7526 5494 2032 From Sydney to London UK/NORDICS 26% 1248 16% 1931 Dear Sibos delegates We hope you enjoyed attending Sibos 2018 as much as we enjoyed hosting it. The attendance and networking metrics speak for themselves: more than 7,500 delegates attended the conference and exhibition, sharing their contacts via their Sibos badges 100,000 times. Some things can’t be measured of course, such as the value of the AMERICAS unique insights gained by delegates from their individual Sibos experience. We can 13% only hope that the opportunities to understand industry trends and develop business 990 opportunities in Sydney will bear fruit in the months and years to come. The Sibos team always looks to learn from one year to the next to ensure we continue APAC to enhance the experience of delegates and exhibitors. Personally speaking, three 45% elements made Sibos in Sydney a special occasion: a great location, with the light- filled venue set in a spectacular and welcoming host city; a dynamic industry buzz, 3357 animated by exciting future opportunities driven by demographics and technology; and an insightful content programme, in which experts from across the industry and the wider business community shared their perspectives on multiple hot topics. In truth, there was simply too much going on for any participant to experience all the different aspects of Sibos in just four days. For this reason, we have made it even easier to catch the sessions and presentations you might have missed in Sydney. As 600 293 166 144 well as the articles in this wrap-up edition of Sibos Issues (including video clips of Publisher: Chantal van Es, SWIFT featured sessions), delegates can relive many of the highlights of Sibos 2018 with Managing editor: Alan Rowan, SWIFT conference sessions and Sibos TV interviews available via the Sibos app and on Sibos Issues is written and produced by sibos.com. Making Markets on behalf of SWIFT Advertising contact: All in all, Sibos 2019 has a lot to live up to! But if anywhere can follow Sydney, London Stephanie Gerniers, SWIFT can. We’re already working hard to ensure that Sibos 2019 will offer a valuable [email protected]; and memorable experience to everyone who wishes to take part in our continuing +32 2 655 4734 conversation on collaboration and innovation in the finance industry. London in Legal notice: SWIFT © 2018 autumn may offer less sunshine than Sydney in spring, but Sibos promises you a Reproduction is authorised with acknowledgement of source. All other warm welcome. rights reserved. SWIFT, the SWIFT 98140 57 130000 4000 logo, Sibos, Accord, SWIFTReady, and Best wishes SWIFTNet are registered trademarks Sibos smart badge kiss / Sibos TV interviews Total number of trees planted AUD given by live NPP payments to of SWIFT. Photographs feature SWIFT Chantal Van Es bump – digital contact exchanges charity by Australian delegates employees, customers and partners. Head of Sibos in the Sibos closing plenary 2 Sibos Issues 2018 Wrap-up edition Sibos Issues 2018 Wrap-up edition 3 PUBLISHER’S LETTER OPENING PLENARY CROSS-BORDER PAYMENTS From Sydney Expect the Catching up with to London unexpected the customer page 3 page 6 page 12 CYBERSECURITY DOMESTIC PAYMENTS INNOVATION IN ASIA A problem Meshing new Asia’s great leap shared … with old forward SIBOS • 1/2 Page Largeur FU • 180 x 118 mm • Parution 24/oct./2018 daté November • Remise 12/sept./2018 • Empl. Warp up edition pgi • BAT page 18 page 24 page 30 GLOBAL TRANSACTION BANKING SECURITIES COMPLIANCE TECHNOLOGY & SECURITIES SERVICES Differentiation AI stakes claim Three keys to through data for supporting role enabling digital WE OFFER YOU migration SHARP EXPERTISE TO SUPPORT VISIT OUR WEBSITE FOR YOUR BUSINESS EXPERT VIEWS page 36 page 42 page 48 INNOTRIBE STANDARDS CLOSING PLENARY Getting ready for Communicate, Innovation sibos.societegenerale.com MATT GITEAU - FORMER INTERNATIONAL AUSTRALIAN a smarter world collaborate, at scale RUGBY PLAYER & OUR SOCIETE GENERALE AMBASSADOR co-ordinate THIS COMMUNICATION IS INTENDED FOR ELIGIBLE COUNTERPARTIES AND PROFESSIONAL CLIENTS ONLY AND IS NOT DIRECTED AT RETAIL CLIENTS. Societe Generale is a French credit institution (bank) authorised and supervised by the European Central Bank (ECB) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) (the French Prudential Control and Resolution Authority) and regulated by the Autorité des marchés financiers (the French financial markets regulator) (AMF), as well as by certain other authorities in the jurisdictions in which the bank operates. Societe Generale, London Branch is authorised by the ECB, the ACPR and the Prudential page 60 Regulation Authority (PRA) and subject to limited regulation by the Financial Conduct Authority (FCA) and the PRA. Details about the extent of our authorisation, supervision and regulation by the above mentioned authorities are available from us on request page 54 page 66 © Jeff Crow. 4 Sibos Issues 2018 Wrap-up edition SGEN_1807124_SGSS_GTB_180x118_SIBOS_November.indd 1 12/09/2018 16:56 OPENING PLENARY Table of contents Cross-border payments: Catching up with the customer Expect the unexpected In a world of growing uncertainty, the of SWIFT’s traffic, as proof of the increasing Banks must ability to adapt at speed and scale will be agility of the wholesale payments sector. paramount, delegates were told in Sibos work together 2018’s Opening Plenary. All three speakers In both retail and wholesale banking, the emphasised the need for banks to have the key to growth and adaptability is the use to keep ahead tools, technologies and – above all – mindset of open platforms to support further to respond to new sources of competition, innovation, he suggested. In October of the pace of evolving trends in customer demand and 2018, SWIFT and a group of banks in changes in the regulatory landscape. the Asia-Pacific region successfully change. completed trials for a real-time cross- “It is not just the speed of change but also border payments service over SWIFT gpi the diversity of change – from technology through correspondent banks into domestic to product relevance to risk management payment systems. to the geo-political environment – that we must manage well,” said SWIFT chairman “As banks embed gpi into their digital SWIFT is moving fast, Yawar Shah, in his opening address. offerings, you can start thinking of the role gpi can play in e-commerce and in Fast-paced, far-reaching the fast-growing digital payments space,” engaging, and increasingly Leibbrandt observed. Taking up the theme of fast-paced and far-reaching change, SWIFT CEO Gottfried Enabling instant payments Leibbrandt pointed to the speed of new working with the coalition developments in the payments sector. In domestic payments, the use of open “Innovation is everywhere. Especially in platforms to support innovative solutions payments – especially in Asia,” he said. “We is already firmly established. Australia’s of the willing. have never seen such levels of investment New Payments Platform (NPP) went live in new financial technology, especially in in February 2018, enabling consumers to Yawar Shah, SWIFT payments, nor such speed in development make real-time payments using just an and change as we have over the last couple email address or mobile phone number. of years.” NPP is a key component of SWIFT’s global Noting the rapid growth to market instant payments strategy – a strategy that dominance of Tencent’s WeChat and also includes the provision of an instant #Plenary Alibaba’s AliPay in the Chinese retail payments messaging service for the euro #Payments payments market, Leibbrandt cited area. Launching in late November 2018, Sibos 2018: #Fintech SWIFT gpi’s three-year journey from to coincide with the launch of TARGET Opening Plenary #Digitisation concept to today, where it is carrying a third Instant Payment Settlement (TIPS) service, 6 Sibos Issues 2018 Wrap-up edition Sibos Issues 2018 Wrap-up edition 7 We are investing heavily to allow access to all our services through APIs. Gottfried Leibbrandt, SWIFT SWIFT’s new messaging service will enable Leibbrandt. “We are using our expertise to their banking partnerships with smaller instant payments across Europe. standardise API calls between banks, and institutions, SWIFT customers are due to we are running proofs of concept to carry submit their re-attestations by the end Even as instant payment systems are interbank API calls over our infrastructure.” of the year. Failure to self-attest their being implemented around the world the compliance with CSP’s mandatory security underlying technologies are being refined Duty of care controls will result in customers being and augmented to deliver new features and reported to their regulators. functionality, with minimal disruption to Shah also emphasised the potential of service providers and their end-clients. “All APIs to enable innovation, customisation “Many global transaction banks are these initiatives use new SWIFT technology. and collaboration, and to facilitate data already looking at your self-attestations,” NPP is built on a peer-to-peer architecture exchange and system interoperability. Shah warned. “But early next year they with all the intelligence at the edge. Our But he also reminded delegates of their will begin incorporating them into their European solution goes a step further and collective responsibilities in relation to the risk management processes and start to delivers an intelligent edge using container careful management and protection of data decide whether and how they will continue technology from Docker. That means we – often derived and collected from clients to do business with you in the context of and our customers can easily add new – even as they look to enable greater data cyber-risk.” functionality to the edge, instead of waiting access, integration and analysis.
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