In our conversation with practitioners, payment innovation was a recurring theme. Claus Richter, Nordea and Paula da Silva, SEB discussed about how banks in the Nordic region are building a harmonised cross-border system of real-time payment and adopting open banking standards in line with SEPA (Single Euro Payments Area) regulation.
October 23, 2018 | The Asian BankerWe started SIBOS 2018 in Sydney with a visit to the innovation lab of the Commonwealth Bank of Australia (CBA), hosted to a breakfast by its innovation team. Mike Baldwin, briefed the attendees on some of its latest initiatives and developments, including the launch of the New Payments Platform (NPP), its latest data analytics and cybersecurity initiatives.
Sophie Gilder who drives the bank’s experimentation agenda for blockchain shared learnings from the launch of the $78.14 million (A$110 million) ‘Bond-i’ bond for the World Bank. This is perhaps the world’s first bond to be created, allocated, transferred and managed through its life cycle using distributed ledger technology (DLT). She also shared insights from the test of blockchain based ‘smart money’ or Programmable money, which utilises blockchain technology to help citizens manage payments made to the National Disability Insurance Scheme (NDIS).
At the opening plenary Shayne Elliott, CEO at ANZ enthused about the exciting times that the Australian banking system is going through with the introduction of the new payments system. With the pace of disruption from Open banking regulation, industry players have to adopt an open-end growth mindset. This is especially pertinent, given the current scrutiny that the industry is coming under from the Royal Commission enquiry into banking practices.
SWIFT Chairman, Yawar Shah remarked despite the pace of change, the only constant is that SWIFT remains as a bank owned fintech. Calling for greater support from members for key initiative such as gpi (global payments innovation) and CSP (customer security programme), he commented “what you get out of SWIFT is what you put into it”.
Wrapping up the session, SWIFT CEO, Gottfried Leibbrandt touched upon three areas that keeps him awake at night; cybersecurity, geopolitical uncertainty and technological change. In particular, he talked about the enhancement of the SWIFT mark...
Categories:
Keywords:Technology, Financial Technology, New Payments Platform, Data Analytics, SWIFT, Blockchain, Open Banking
In our conversation with practitioners, payment innovation was a recurring theme. Claus Richter, Nordea and Paula da Silva, SEB discussed about how banks in the Nordic region are building a harmonised cross-border system of real-time payment and adopting open banking standards in line with SEPA (Single Euro Payments Area) regulation.
October 23, 2018 | The Asian BankerWe started SIBOS 2018 in Sydney with a visit to the innovation lab of the Commonwealth Bank of Australia (CBA), hosted to a breakfast by its innovation team. Mike Baldwin, briefed the attendees on some of its latest initiatives and developments, including the launch of the New Payments Platform (NPP), its latest data analytics and cybersecurity initiatives.
Sophie Gilder who drives the bank’s experimentation agenda for blockchain shared learnings from the launch of the $78.14 million (A$110 million) ‘Bond-i’ bond for the World Bank. This is perhaps the world’s first bond to be created, allocated, transferred and managed through its life cycle using distributed ledger technology (DLT). She also shared insights from the test of blockchain based ‘smart money’ or Programmable money, which utilises blockchain technology to help citizens manage payments made to the National Disability Insurance Scheme (NDIS).
At the opening plenary Shayne Elliott, CEO at ANZ enthused about the exciting times that the Australian banking system is going through with the introduction of the new payments system. With the pace of disruption from Open banking regulation, industry players have to adopt an open-end growth mindset. This is especially pertinent, given the current scrutiny that the industry is coming under from the Royal Commission enquiry into banking practices.
SWIFT Chairman, Yawar Shah remarked despite the pace of change, the only constant is that SWIFT remains as a bank owned fintech. Calling for greater support from members for key initiative such as gpi (global payments innovation) and CSP (customer security programme), he commented “what you get out of SWIFT is what you put into it”.
Wrapping up the session, SWIFT CEO, Gottfried Leibbrandt touched upon three areas that keeps him awake at night; cybersecurity, geopolitical uncertainty and technological change. In particular, he talked about the enhancement of the SWIFT mark...
Categories:
Keywords:Technology, Financial Technology, New Payments Platform, Data Analytics, SWIFT, Blockchain, Open Banking
