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28.10.19

Sibos 2019 resume: Day 4

The last day of Sibos celebrates a special initiative – Talent Thursday – which launches for the first time to connect the talent of today and tomorrow. At its heart is a commitment to bridge the gap between the present and future of the financial industry across people, ecosystems, business and technology.

Day 4 highlights include:

Views from the Top with double Olympic champion Kelly Holmes, who inspired the community on the last day of Sibos with the story of her life and career. After a career in the army Dame Kelly returned to athletics and won an impressive medal haul including double Olympic Gold at the 2004 Olympic Games. Although Kelly's profession is in no way affiliated with the financial industry, her unique approach to maximizing productivity, resilience and overcoming adversity has impressed attendees.

Final Big Issue Debate focused on the theme: Banking perspectives: Understanding the next generation of customers. Much has been said and written about Generation Z, the current crop of 13-22 year-olds – they are digital natives, and the key to their decision-making processes are values such as honesty, trust, transparency, and authenticity. As these young people start to manage their own finances, traditional high-street banks are not the obvious first step that they were for previous generations. Generation Z is naturally gravitating towards tech-based alternatives to make their payments, such as pay-apps, digital wallets, and products offered by non-traditional banks. But beyond paying for their short-term needs, how prepared are they for their financial future, particularly in an environment of increasing political uncertainty and generally rising unemployment? Banks will need to change their marketing approach to appeal to this generation if they are to attract them as future customers. In this big issue debate participants discussed what banks need to know to understand Generation Z and how they can engage with this group in a meaningful way. What role can banks play in helping Generation Z to become more financially literate and forward-thinking?

Day 4 on the Spotlight stage focused on banking for a better world and examined how the financial industry can help the world address the huge challenges of climate risk, financial exclusion, safeguarding biodiversity and beyond. Talks ranged from engaging with Generation Z to sustainable finance, financial inclusion, the role of technology and how to remain human in a digital world.

Closing Plenary with Thomas Kurian, CEO of Google Cloud and trust expert Rachel Botsman emphasized that today when large sums are invested in data protection, the issue of creating the Cloud-platform for financial operations becomes a priority.

Best of British themed Sibos Closing Event gave the delegates the opportunity to taste British cuisine and beverages, and celebrated the most important moments of Sibos in English cultural traditions.

Summarizing the results of Sibos 2019 we would like to point that this year the event attended more than 11,000 bankers and technologists from 150 countries. Delegates used their smart badges to exchange contact details an incredible 167,000 times throughout the week at Sibos, forming thousands of new connections leading to new business relationships and opportunities.

            Sibos 2019 in London has already become the history. Welcome to Sibos 2020 in Boston!