Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

How the Commercial Payments Market is Evolving

At EBAday 2024, Wim Grosemans, Global Head of Product Management Payments and Receivables, BNP Paribas, sets the scene around how the commercial payments market is evolving. From an infrastructure perspective, the interview details how banks should make important moves to implement instant payments, ISO 20022 and cross border payments as regulation dictates, so there is a lot to do on the plumbing within a financial institution for tomorrow's payments. A staggering amount of digitisation is also incoming, which will result in digital payments soaring and with this, an ecommerce boom for B2C customers and B2B customers.

07 August 2024

Finextra TV/payments

SEPA, ISO 20022 and the Road to Innovation and Resiliency

At EBAday 2024, Renata Vilanova Lobo, Head of Global Clearing, J.P. Morgan Payments, explores the cross-border impact of SEPA on European and global interoperability and why ISO 20022 is crucial for financial institutions. There is an urgency for financial institutions to transition because of deadlines, but also due to the great benefits this change can bring to the industry, being the biggest change in payments in the last 30 years. Resiliency plays a critical role in today's landscape and it is expanding its concept; as a result, and banks must consider geopolitics, economic downturns and unforeseen challenges on top of operational stability.

19 July 2024

Finextra TV/payments

Core Banking Transformation: Enabling Future Growth at a Systemic Bank

Join FinextraTV at the Temenos Community Forum 2024 as Mick Fennell, Business Line Director - Payments, Temenos and Serge Munten, Head of Transformation, Banque Internationale à Luxembourg discuss their digital transformation project and the obstacles the bank faced when modernising core banking and payments capabilities. Scoping out the project, it is explored how BIL decided to completely revisit their IT landscape to enable the bank to manage higher transaction volumes, keep up with changing regulations and drive future growth.

12 July 2024

Finextra TV/payments

The road to compliance

At EBAday 2024, Paul Thomalla, Non Executive Director, Unifits, discusses ISO 20022 and the decades-long journey to reach adoption and implementation. The payments sector is a complex world and with ISO 20022 and other mandates emerging, there is an unavoidable tsunami of change constantly hitting banks. As a result, being and remaining compliant is no easy feat and in order to remedy these issues, ISO 20022 must be considered a business-led tool and testing should occur by employees that understand how technology processes should be operating as well as the business nuances of what the rules have set out. But while testing is of course important, getting compliant and staying evergreen is key.

11 July 2024

Finextra TV/payments

What to include on your Payments Blueprint for Success

At EBAday 2024, Sulabh Agarwal, Global Payments Lead, Accenture, discusses how banks are approaching payments transformation and why the traditional model may not work with the number of initiatives coming to the fore soon. With regulatory initiatives like SEPA Inst, ISO 20022 and a long list of others that include the EPI and digital Euro, financial institutions must remain focused and consolidate new products that are yet to be launched, ensure they are competing against newcomers and justifying the investments that they make. Traditionally, change has emerged incrementally, but now long-term thinking must be prioritised, instead of opening the hood and fixing issues here and there, and technology such as Generative AI must be considered.

08 July 2024

Finextra TV/payments

2025 - 2030: Predictions for Real-Time Payments, ISO20022 and APIs

At EBAday 2024, Akshat Saharia, Head of European Financial Institutions Product and Propositions, Global Payments Solutions, HSBC discusses the biggest changes to occur across the cross-border payments landscape in the next five years. While 90% of cross-border transactions complete in 30 mins, the other 10% can be delayed, resulting in frustration and a lack of transparency. Robust change will be seen with real-time payment schemes opening up for cross-border payments. In turn, with ISO20022 being mandated from November 2025, banks in the world will be operating with enhanced data, standardised information and LEIs which will significantly enhance STP and reduce costs. Digital transformation through the use of APIs will also bolster end-to-end connectivity, paving the way for value-added services offering increased transparency and verification with Confirmation of Payee.

28 June 2024

Finextra TV/payments

Collaboration is key to achieving growth in transaction banking

At EBAday 2024, Bana Akkad-Azhari, Head of Treasury Services EMEA at BNY, discusses the innovations, client demands, and regulatory changes, like ISO20022 migration and T+1 settlement transition, that are reshaping transaction banking. Amid inflation and geopolitical instability, the conversation focuses on how collaboration is key to overcoming challenges and achieving sustainable growth.

26 June 2024

Finextra TV/payments

IP Regulation, VoP and Interoperability: Preparing for the October 2025 Deadline

FinextraTV and Banfico’s CEO Kannan Rasappan explore all the current moving pieces of the puzzle for payments service providers in the EEA region, dive deep into the biggest challenges ahead of compliance with the incoming instant payments regulation in October 2025 and how Verification of Payee will impact this. VoP must also be considered as a fraud and financial crime mitigator, and the conversation turns to how cross border payments could open the door to potential scams and how banks must stop operating in siloes to prevent them. Banfico is running an upcoming webinar to delve deeper into these topics with other key players in the VOP landscape.

12 June 2024

Finextra TV/payments

ISO 20022: Powering Instant Payments in the UAE

FinextraTV and Al Etihad Payments’s CEO Jan Pilbauer, dive into the evolving landscape of ISO 20022 and the challenges of being a brand-new national payments entity and subsidiary of the central bank. AI Etihad Payments discuss how they, in collaboration with Unifits, are automating testing and in turn, innovating payments processes for individuals and businesses in the Emirates. The importance of rigorous testing and simulation is also discussed as a key route to ensuring a seamless and secure transition for all stakeholders.

23 May 2024

Finextra TV/predictions

Predicting growth for clearing houses and scheme operators in 2024

As payment markets evolve, further progress hinges on open access facilitated by infrastructure modernisation. In this Predict 2024 episode, Paul Ruggieri, Senior Vice President, Real Time Payments, Product Management, Mastercard, discusses growth opportunities for clearing houses and scheme operators, emphasising the need for standardised communication strategies between operators and payment systems. We explore the significance of interoperability and the prioritisation of standardisation to enhance cross-border transactions. Additionally, we explain the key methods for ensuring seamless transactions across borders, leveraging ISO 20022 data and AI for fraud prevention, resilience, and scalability across all 13 markets.

13 February 2024

Finextra TV/predictions

ISO 20022 Mandates: A tipping point in financial transformation

In this Predict 2024 episode, Paul Thomalla, NED, UNIFITS, highlights the need for banks to adopt ISO 20022. Anticipating upcoming regulatory shifts in 2024, we discuss resource constraints, including ISO 20022-related challenges like talent scarcity and explore how banks can proactively use automation to ease the transition and alleviate skills shortage pressures.

07 December 2023

Finextra TV/Sibos

Optimising customer experience through technology and operations

At Sibos 2023, Jason Christensen, GTM Technology, Wells Fargo, and Vanessa Leite, GTM Operations, Wells Fargo, explore aligning technologies like ISO 20022 with operations, and its impact on enhancing client value and operational efficiency.

05 October 2023

Finextra TV/Sibos

Data control frameworks: It’s time to reimagine reconciliations

At Sibos 2023, Alastair McGill, General Manager, Broadridge, explores how the industry is adapting to changes like ISO 20022 and T+1 through data control frameworks, amidst evolving regulations and market growth.

02 October 2023

Finextra TV/Sibos

The Future of Competitive Advantage in Banking and Payments

Zhenya Winter, Head of Marketing – Financial Messaging, Bottomline, and Vitus Rotzer, CRO – Financial Messaging, Bottomline, discuss their recent report on the future of competitive advantage in banking & payments at Sibos 2023. Focusing on digital payments modernization strategies, they discuss banks & FIs plans for the year ahead and the transition to ISO 20022.

26 September 2023

Finextra TV/Sibos

Partnerships are the key for transforming businesses with ISO20022

Rob Magee, Program Director, ISO 20022 Industry Migration of Australian Payments Network, speaks at Sibos 2023 about how their partnership with UNIFITS helped them overcome the challenges faced when adopting ISO20022 in Australia.

21 September 2023

Finextra TV/payments

Lloyds & Finastra: The Shifting Payments Market & The Power Of Collaboration

In the second episode of this 4-part FinextraTV series, Stephen Everett, MD Cash Management & Payments, Lloyds and Roy Marsh, Global Payments Director at Finastra, discuss the significant changes happening in payment solutions as a result of Open Banking, Embedded Finance, shifting digital solutions and regulatory changes. We hear how ISO has been a major diversion for all banks in recent years, what will be the impact going forward, and the role of partner collaboration in enabling banks to maintain their competitive edge within these rapidly changing payments landscape.

11 July 2023

Finextra TV/payments

The Role of ISO20022 and Open Banking Adoption in Harmonizing Payments

Katja Lehr, Managing Director, EMEA Payments and Commerce Solutions, J.P. Morgan, speaks at EBAday 2023 about the shifts we are currently seeing in cross-border & instant payments technology. Examining the use of Open Banking adoption and innovation by regulators across CEEMEA, we explore the role of ISO20022 and how developing initiatives will support the harmonization of cross-border payments.

03 July 2023

Finextra TV/payments

How Innovation & ISO 20022 are shaping Canada's modernisation journey

Mike Hoganson, Director, Lynx, Payments Canada, speaks in the lead-up to The 2023 Payments Canada SUMMIT about Lynx, Canada's new high-value payments system, what this means for the region's modernisation journey and the implications of ISO 20022 going forward.

02 May 2023

Finextra TV/Sibos

The evolution of the payment screening process with ISO20022

Sophie Lagouanelle, Vice President of Financial Crime Compliance Strategy, LexisNexis Risk Solutions speaks to FinextraTV at Sibos 2022 explaining the need for the new payment messaging standard ISO20022, its impact within the industry and what changes it will make on payment screening processes.

25 October 2022