Sibos 2019 | review

Past event

Like last year we created a special series of Sibos-related blogs, based on presentations and panel discussions that took place during Sibos (23 - 26 September 2019). These blogs focused around three relevant and hot topics: Instant Payments, Open Banking and Future Developments. We invite you to read these interesting insights.

Interested in what happened last year? Check out our Sibos 2018 updates and stay tuned



Do we need regulation to speed up the development of an interoperable cross-border Instant Payments network?

Looking at the development and availability of cross-border IP for European consumers and businesses, there is plenty of room for improvement. Global Head of Transaction Services ING  talked about his vision on the development of an interoperable cross-border IP network.
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Is there a need for one single payments processor in Europe?

What are the major transitions in the world of payments? When will this method become the ‘new normal’ in Europe? How is Worldline keeping on top of the innovation curves? Listen to the Sibos 2019 InstaPay podcast, where Lauren Jones sits down with CEO Michael Steinbach to discuss trends in the payments industry.
Listen to the podcast

Wrap-up Sibos: Instant Payments is here to stay and banks need to act quickly

The annual banking and financial conference is growing every year. This is no surprise as the future of the payments world is extremely dynamic and this makes it so exciting. To manage these dynamics, collaboration is a key topic for the coming years. Collaboration among banks, with fintechs and bigtechs. 
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The positive vibe around Instant Payments

Instant payments (IP) are becoming the new normal. It appears that across the world people are convinced about the value of this payment method. During the session ‘Are my payments operators ready for a real-time 24/7 world?’, an overwhelming majority responded that their payments operators already are or soon will be ready for this payment method.  
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CEO Christian Sewing of Deutsche Bank remains optimistic in these turbulent times

According Deutsche Bank it is a turbulent time. In his presentation at Sibos, the CEO was not so much referring to the largest restructuring of the German bank ever, but to the geopolitical tensions that are jeopardizing global economy. "The situation in Hong Kong, the trade war and the Brexit. are risk factors that bite.”
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Interested to know what when on at Sibos? Read the latest updates and blogs, straight from London!

We reported live on what went on at Sibos 2019 in London. If you're interested in the most interesting sessions, industry insights and updates, you've come to the right place. On the left, you can see our latest blog. But there's a lot more! Interested? Click on the link below.
Read all our Sibos blogs!
Instant Payments enable banks to process transactions within seconds on a 24/7/365 basis. We believe that real-time payments will become the new normal – not only for domestic but also for cross-border transactions. Implemented domestic instant payment schemes have proven to be a success in countries such as the United Kingdom, Japan, Poland, Sweden, Denmark, Singapore and Mexico. In the Netherlands seven Dutch banks started to introduce instant payments using our CSM (Clearing and Settlement Mechanism) system in 2019. 

Due to the large-scale launch of real-time payments in the Netherlands, Worldline has become the biggest processor of instant payments in the Eurozone, handling millions of instant payment transactions per week.
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With the introduction of PSD2, banks have to allow third parties access to their customers’ payment (account) data, in order to stimulate competition in the finance sector. Fintech start-ups and bigtechs such as Google, Amazon and Facebook have become third-party payment providers (TPPs), completely changing the landscape for banks and its end customers. 

In June, 25 banks in 7 European countries have reached the first milestone for PSD2 compliance with Worldline's support. These banks were among the first that have the required testing facilities ready in accordance with the timetable prescribed by the European Banking Authority (EBA) and corresponding National Competent Authorities (NCA). But still a lot needs to be done.
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The payments industry is going through tremendous change. Legislations such as PSD2, the entry of third-party payment providers and rapidly evolving technologies in the world of banking are changing the way banks operate and the way society deals with money.

As a result, banks are forced to change their traditional business models, as they are no longer a guarantee for success. 

Banks are entering unknown territory, collaborating with fintechs and competing against bigtechs.
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