With another jam-packed Sibos week now over in Toronto, the authors reflect on the themes and developments that emerged. Following a year characterised by compliance and regulatory concerns in 2016, this year’s event saw growth and optimism restored to the agenda.
Once again, Sibos has come and gone in a flash. And as we train our sights on the year ahead, now is a chance to reflect on this year’s event in Toronto and examine the trends and themes that emerged. The key message? After years of preoccupation with regulation and compliance, the industry is once again gearing up for growth. A number of new services will soon hit the market, while bank-fintech – and wider industry – collaboration is the hot topic when it comes to meeting the most challenging client needs.
Certainly, there was a difference in tone at this year’s event. Last year, there was a sense of responsibility and caution on banks’ part, with regulatory concerns such as AML and KYC requirements featuring heavily. This year, attendees were noticeably less preoccupied with these topics. Instead, the mood was more positive and forward-looking, with the clear message from banks that it was time to get back to business and start focusing once again on growth.