Sibos2022, one of the world’s largest financial services conferences, came back in full swing this year bidding farewell to the virtual route that it has taken over for the past three years.
Held between 10-13 October, it saw over 10,000 participants in Amsterdam and online, with over 500 speakers debating major industry core topics such as embracing the digital landscape, success in uncertain times and driving sustainability and growth. Sibos2022 theme was centered around ‘Progressive finance for a changing world’.
Taking into account the changes that have taken place in the payments industry over the last three years. Sibos2022 has highlighted how important it is for players within the payments industry to keep up with the fast-moving ecosystem. Drawing on discussions and live panels that took place at the conference, we have encapsulated the three most important takeaways from Sibos2022.
- Tokenisation of financial markets is truly underway and the emergent, interconnected digital wholesale ecosystem will be reliant on close collaboration (and interoperability) between numerous parties to succeed, including banks, regulators and technologists.
- With many financial institutions seeking to take advantage of blockchain-based infrastructure for new and/or improved business processes, an ecosystem testnet that supports multiple technologies is key to experimenting, truly validating and ultimately delivering new strategies.
- Cross border payments, a perennial focus, are finding new ways through DLT to achieve optimisation goals, reduce risk (counterparty, credit and operational), and deliver new revenue and service offering opportunities – including via the use of multi-lateral platforms and schemes.