The current ongoing SIBOS is a milestone event showcasing disruptive and innovative technologies that the banks will have to embrace to stay competitive. The fintechs are the toast of the event. One can safely quote the blockchain (distributed ledger) technology as an example.

The two trends that stand out from earlier SIBOS events

1. A remarkable transformation in a banks view on approach to technology adoption. I have never earlier seen a symbiotic relationship of this kind. A bank collaborating and fostering innovation and disruption with a 'startup'. All the while it has been the internal IT department that has spearheaded technology projects. At best engaging a software vendor for packaged solution. The number of top banks that are walking hand in hand with niche fintechs is amazing and an eyeopener.

2. The software vendors themselves have realised that classic core banking solutions are all fine, however that is not enough. Their perspective has changed from merely being a vendor to a value partner. It is no more licensing a software solution and washing hands off post implementation. The relation is much deeper. The vendors are now strategic partners, the relationship that will sustain over time. It is not surprising to see the leaders in core banking aligning with niche fintechs.  

One outstanding example is Temenos that has been in the 'forefront of supporting fintechs' collaborating to offer a portfolio of innovative solutions in addition to core banking.

The coopetition that is evolving between banks, software solution providers and fintechs is the new trend line, very encouraging and beneficial to all.