Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
Market uncertainty, a lack of necessary infrastructure and enforced regulatory standards means that the revised European Payment Services Directive (PSD2) may not be actively enforced until mid-2019, ACI Worldwide executives told GTNews at Money 20/20.
Rising interest rates, excitement around blockchain use cases and cross-border payments were all hot topics at this year's AFP conference in San Deigo.
Big data is now a commonplace term in boardrooms across the globe and data management has never been more important. As for the teams and individuals enabling these advances? They’re the corporate rock stars of the day.
The future of digital treasury tech will bring about the death of shared services, payment factories and supply chain finance, argue Standard Chartered executives. They met with GTNews to discuss seeing a greater connection between treasury and the physical supply chain and the dramatic digital advances being seen in Asia, Africa and the Middle East.
On-Demand Webinar – this is available to watch at your convenience SWIFT gpi has revolutionised cross-border payments increasing the speed, transparency and end-to-end ... read more
Data will become the "centre of gravity" for the new banking business model under PSD2, providing consumers are willing to share their data, argues Dick Oskam, head of transaction services, ING Wholesale Banking.
While corporates have more choice when it comes to choosing financial services, the core relationship between banks and businesses hasn't changed, argues Michael Cummins, head of treasury solutions at Citizens Bank.
Consumers are looking for omni-channel experiences and more relevant loyalty rewards, so the new opportunities that PSD2 is unlocking are very much welcome. Will these be seized primarily by the top fintech players free from legacy burden, leaving banks watching their disintermediation nightmare unfold?
With regulations such as PSD2 looming on the horizon, the threat, or opportunity, of digital disruption can no longer be ignored. Chris Jameson, head of sales for Western Europe, global transaction services, Bank of America Merrill Lynch (BofAML) discusses the key digitalisation issues for treasurers.