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Tag archive: Instant payments

SIBOS Wrap-up – Key themes of 2019 identified

Time has flown by, Sibos 2018 has come to an end for me. A few days filled with discussions, presentations and sessions highlighting countless different visions on the future of payments have inspired thousands of professionals. Sibos has been the vibrant global hub of the payments industry this past week; almost every financial organisation was […]

SIBOS day 3 – How Instant Payments can make Europe a leader in innovation

Exciting times lie ahead for the ECB now that the pan-European infrastructure TARGET Instant Payment Settlement (TIPS) is going live next month. This platform enables banks to initiate immediate payments 24 hours a day, 365 days per year. The session The Eurosystem’s response to an evolving payments landscape revolved around the launch which will take […]

SIBOS day 2 – The importance of customer experience for the future of banks

It is impossible to know what banks will look like in ten years’ time. The question whether the current banks will all still exist in a decennium is even justified. More than half of the visitors of the session The bank of Tomorrow on the second day of Sibos expect that only 40 to 60 […]

SIBOS day 1 makes clear: never again a dull moment in the world of payments

In the not too distant past, our industry was considered traditional, fixed and a bit dull, but anyone walking around the International Convention Centre in Sydney during Sibos this Monday knows that those times are far behind us. There will never again be a dull moment in the world of payments. This is illustrated by […]

Interesting times in the world of payments

In all fifteen years that I have worked in the world of payments, I have never seen a more interesting period than the past few years. Just think about it: in the past, banks led major developments in the payment industry, which usually lasted for decades. ATMs, for example, have existed for more than half […]

Why banks are gradually embracing PSD2, fintechs and Instant Payments

Banks closely monitor how technological innovations are rapidly disrupting the payments landscape. The introduction of Instant Payments, competition from fintechs and the PSD2 regulations continue to put the business models of banks under extreme pressure. Liz Oakes, Associate Partner at McKinsey & Company, explains why it is good that banks, partly under pressure from the […]

Baroni: ‘Important to move to instant payments but also maintain the high security, low risk and low fraud’

The move to instant payments is quite an undertaking with high initial investments and big, high-risk projects. It comes with both opportunities and challenges for the industry. “It is therefore important that we make the move, but also maintain the high security, low risk and low fraud,” explains Alessandro Baroni, CMO at Equens. “We must […]

Three advantages of instant payments for banks and why they should modernise as soon as possible

Instant payments have become a reality now that the European Payments Council has released a proposal for the development of an instant credit transfer scheme. This proposal (set for November 2016) aims to bring real time money transfers in the SEPA zone by November 2017. Instant payments are the next big change in the payments […]