“A partner is really about finding someone who has the niche experience and specific skills that they can bring to the table to really develop a relationship. It was a very challenging project, but we did really well. It was always about maintaining quality, regardless of size and use case of those different client bases.”
-Tim Tor, NatWest
SIBOS: The Power of FI and Fintech Partnerships to Better Serve Customers
A dynamic landscape and the unprecedented pace of change make for an exciting and demanding marketplace, increasing the need for Capacity, Cost, and Competition. James Hodgson and Tim Tor from NatWest talk with Chris Peck of Bottomline and Teresa Connors of Payment Matters about the effectiveness of partnerships and collaborations and the difference it makes in better-serving customers.
Global Payments and Banking Benchmarking Report
During the summer, we asked you and other banking & financial service executives to participate in a real-time comparison to see how they measured up in their progress toward a payments modernisation strategy. Thanks very much for particpating. Your reward is a uniquely personalised report covering comparisons on cloud usage, real-time payments, ISO 20022 messaging, cross-border payments, fraud defence, treasury management and Open Banking.
How important is the use of Open Banking in your customer propositions over the next 12 months?
It is clear from the fact that 22% have stated that they are fully operational that we are now successfully passing through the early adopter phase and we are moving into more mainstream planning and embedding into the customer journey. It is wonderful to see 31% have open banking on their wish list. However, the 16% who have said they need more information need better support as it isn’t fair to expect the market to educate itself. The uses of 'powered by Open Banking' are very wide with an abundance of use cases available, although many still haven’t been properly explored in the world of real time instructions (PISP) and real time data pulls (AISP)
How confident are you with your company’s digital transformation and payments modernization strategy?
Competition in the short term will surely depend on digital transformation. Yet, nearly a quarter of banks & FIs (25%) are somewhat or highly sceptical of their company’s digital transformation & modernization strategy. This is despite this ranking as the biggest focus for their business at the moment in insight 1. This would indicate that a significant proportion of FIs need better support internally from the top-down to accelerate change and address legacy infrastructure.
Industry Insights and Helpful Resources
CBDCs, Stablecoins & 'Digital Money'
After Reading this document, you will have a clear overview of this topic, be able to leverage this as a high-level source of knowledge and to highlight a number of sources for additional reading and ways to keep up to date with a fast changing area.
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