Collaborate to Beat Payments Complexity

The Sibos 2023 conference, organised by Swift, attracted thousands of decision-makers from across financial services to the Metro Toronto Convention Centre in Canada on 18-21 September. TMI contributor, Neil Ainger, highlights the main talking points from a corporate treasury session on Day three that looked at standardisation and data.

The “voice of the customer”, as Swift’s Head of Payment Products, Sebastian Rojas, referred to the treasurers at Delta Airlines and Great Gulf on the conference session panel he was moderating, was heard loud and clear in a debate about How FIs can Drive More Value to Corporates.

However, the “voice” wasn’t always complimentary. Najeemdeen Dayisi, Director of Global Payment Strategy and  Treasury Technology, Delta Airlines, bemoaned the fact that too often discussions with banks “were about new products” that merely encouraged unwanted “fragmentation”. 

There is, he lamented, “no standardisation”. This applies if a treasurer wants a common approach to API usage as a means of co-creation or enhanced data exchange and easy connectivity to data-rich services, such as aggregated payment processing.

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