Day 1 of Sibos 2019 in London got off to a roaring start and launched with an Opening Plenary featuring SWIFT Chairman Yawar Shah, and SWIFT CEO Javier Pérez-Tasso, who noted that in financial industry as global payments and security market continue to grow, rapid shifts in technology are creating massive changes, and big investments particularly in transaction banking and cross boarder payments. That opens up many new ways to provide banking services:big tech platforms, Open banking, mobile applications. Actually the financial institutions are dynamic of both in collaboration and competition creating a healthy attention to offer the most compelling customer channels, the best client experience and execute payment faster than ever before. So this big acceleration the front end means that underlining infrastructure that seeds behind have to become more agile and increasingly more intern connected with this growing number of apps and customer channels.
"When I think about SWIFT in this context, - continued Javier Pérez-Tasso, - I realize that our job to offer the industry the best innovation platform. There are no doubts that SWIFT gpi is a perfect case in point. Today with gpi more than half international payments reach to end beneficiaries in a few minutes. This week we’ve launched gpi-instant – that will hook up gpi with a real time payment systems. Payments will move across the continents, account to account in just a few seconds. But we are not going to stop. Our vision is to become instant global network for cross border transactions which means created an even more efficient an interconnected payment system, that enables our users to transact from account to account anywhere in the world in an instant and across all the world currencies with full transparency of fees."
Guest speaker Dame Minouche Shafik, Director of the London School of Economics (LSE) and former Deputy Governor of the Bank of England, switched delegates’attention to the question about the place and role of humans in the fast-growing technology world. She noted that AI will change most jobs – half of jobs will be changed in a fundamental way on 10-20 years. But Minouche Shafik is sure the jobs will not disappear.
Other highlights of the day included the first views from the Top sessions with António Horta-Osório, CEO of Lloyds Banking Group, Bill Winters, CEO of Standard Chartered and Lance Uggla, CEO of IHS Markit.
Innotribe part was opened with a keynote speech from Brian Cox, one of the UK's best known scientists and Professor of particle physics at the University of Manchester. Professor Cox kicked off an Innotribe programme that travels to the future of finance to reflect on the technological and societal changes bringing challenges - and opportunities - for the financial services industry.