Latest EBAday News: Finextra Research

Instant Payments Liftoff: The Importance of Customer Experience

At EBAday 2024, Simon Eacott, Head of Payments, NatWest, discusses the instant payments evolution, revolution and the challenges that remain for banks that are required to implement instant payments. Beyond the technical challenges and the regulatory agenda that has led to congestion in delivery and before full adoption of instant payments can be achieved, financial institutions must ensure they have a customer experience that works. Technology must be embedded in the customer journey to allow instant payments to take off, and consumer protection must also be prioritised so that the experience is akin to card payments.

04 July 2024

Finextra TV/payments

Is the era of A2A payments about to begin?

At EBAday 2024, Simone Del Guerra, Head of Central Institutions & International Sales, Nexi Group, talks about the development of A2A payments and how instant payments will be the catalyst for A2A payments in Europe. A2A payments are currently fragmented due to the user experience at point of sale not being as efficient as more popular payment methods such as credit cards or digital wallets and customers also do not have the knowledge of or trust in A2A payments. However, successful case studies from across the globe tend to be based on instant payments, driving home the fact that perhaps these two types of payment should be connected, particularly because this will in turn, push forward standardisation of overlay services such as Request to Pay, database proxy and use of QR codes.

04 July 2024

Finextra TV/payments

Payments as a Service - Modernising and Outsourcing

At EBAday 2024, Nadish Lad, Global Head of Product, Volante Technologies, sets the scene in regards to Payments as a Service, where the industry is at and the next steps for financial institutions looking to modernise further. Gone are the days of the traditional model where products were procured by banks and deployed in their own data centres. The future is PaaS, and the product and the delivery mechanism must be outsourced, leaving banks to focus on banking - assured that their infrastructure, upgrades and maintenance are well looked after.

04 July 2024

Finextra TV/payments

Instant Payments Regulation and the Impact on Cash and the Digital Euro

At EBAday 2024, Nuria Mohedas, Head of Payments and Digital Banking, Cecabank and Julio César Fernández, Head of Business Development and Operations Support, Cecabank, share their opinion on the new European Instant Payments regulation. Join Cecabank as they explore the evolution of cash in Europe and the dive deep into what influence the new Digital Euro project could have, particularly in light of new regulations like PSR.

03 July 2024

Finextra TV/payments

Implementing Instant Payments: Challenges and Strategies for Banks and PSPs

At EBAday 2024, Sheri Brandon, Chief Market Officer, Northern & Western Europe, Worldline, sets the scene around the challenges and strategies that permeate when implementing instant payments, including short deadlines that must be met amid many other ongoing regulation projects. Resources can be constrained in these scenarios, and banks must now consider how new regulation will lead to new requirements, such as Verification of Payee, and ensure these processes fit into current processes. The discussion also covers implementation of instant payments and the trade-offs that must be established. Security must be enhanced, the back office must be managed differently and maintenance windows must be rescheduled as liquidity management is of paramount importance. Moving from predictable flows to instant flows will be a cumbersome challenge.

03 July 2024

Finextra TV/ai

AI's Role in Shaping the Bank of the Future

At EBAday 2024, Lilia Christofi, EMEA Banking Leader, Microsoft, explores the potential risks associated with implementing AI in the financial services industry, but also the role that the technology can play in shaping the bank of the future. Financial institutions need to ensure that they are leading across AI adoption to mitigate any potential risks that may emerge.

03 July 2024

Finextra TV/payments

European Instant Payments Regulation: Are Banks Ready?

At EBAday 2024, Kjeld Herreman, Head of Strategy Advisory, RedCompass Labs, discusses the fast approaching deadlines and how financial institutions can be best prepared for the SEPA instant payments regulation. The conversation explores how the deadlines are short, with just nine months to ensure banks are receiving instant payments and 18 months to send instant payments. Further, ensuring Verification of Payee operates across all channels is a colossal task and with banks no longer able to charge for instant payments, the industry can expect hundreds or even thousands of friction-free transactions per second, but a lot of work needs to be completed before that point can be reached.

02 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

Achieving Operational Excellence in Real-Time Payments

At EBAday 2024, Roland Brandli, Strategy Director, SmartStream and Zennon Kapron, Founder/Director, Kapronasia, explore their recently released report where findings revealed that in 2023 there were 266 billion real-time payments made around the world, which is a 43% increase from the year before, and represents a 27% of all payments. This surge in instant payments brings with it many complications, for example delays in managing exceptions can lead to additional costs and customer dissatisfaction. With this trend set to continue, how prepared are banks and what are they prioritising?

28 June 2024

Finextra TV/payments

Building the bank of tomorrow

At EBAday 2024, Tsvetanka Nankova, Global Head of Sales, Institutional Cash & Trade Finance, Deutsche Bank, discusses what banks need to do to stay in the game and the key trends driving transaction banking innovation. A new wave of technology and digitalisation is emerging, and with this, and the way in which data and analytics is leveraged is also changing. The discussion explores the critical technology of the future, which includes AI, cloud and blockchain settlement, in addition to the regulations that are setting the guardrails for innovation.

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/cloud

Cloud-based payments outsourcing: The strategic choice for banks

At EBAday 2024, Neil Clarke, Director of Payment Solutions at CGI, and Peter Hazou, Business Strategy Leader at Microsoft, discuss the transformative benefits of cloud-based payments outsourcing for banks. With regulators increasingly supportive of this approach, modernising payment systems with cloud-based solutions allows banks to do more with less. These services offer increased scalability, flexibility, and cost savings, enhancing data-driven insights and improving customer experiences.

25 June 2024

Finextra TV/payments

Instant Payments and the Opportunity for New Technology Strategies

Daragh Kirby, Head of Sales & Marketing, Intercope, speaks at EBAday 2024, about how instant payments allows banks to no longer use cumbersome core banking systems to process transactions – whether it be SEPA, cross-border or RTGS payments. We explore how financial institutions are now looking to more suited technologies so instant payments can be made in a leaner way and with lower latency, to support meeting regulation timelines and reap the rewards that are available with faster transactions.

20 June 2024

Finextra TV/payments

SEPA Instant Mandate: Racing to European Banking transformation

Ainsley Ward, Vice President at CGI, and Global Business Development lead for CGI’s Payments Solutions, sheds light on European Parliament's SEPA Instant Mandate and the 9th of January 2025 deadline for Eurozone banks. With the Federal Reserve's FedNow initiative connecting 400 banks in a year underscoring varying market readiness, challenges still persist. We discuss alternatives found in new technologies and scepticism over universal compliance in anticipation of EBAday, where stakeholders can converge to navigate regulatory complexities and seek solutions in this digital era.

17 June 2024

Finextra TV/payments

Revolutionising Treasury Teams

Michèle Zaquine, Director, Head of Propositions and Commercialisation Continental Europe, Global Payments Solutions, HSBC, speaks at EBAday 2023 about the impact payment trends will have on the future organisation of treasury teams. We explore how treasurers in the current market need to assess new technologies for their net benefits, including solution technologies such as APIs, to enhance treasury operations and by looking at transformations in the B2B and B2C industries.

24 July 2023

Finextra TV/payments

Pushing Fraud Controls to the Next Level

Isabel Schmidt, Co-Head of Global Payments Products, BNY Mellon, joins us at EBAday 2023 to discuss real-time payments and the ways to improve fraud controls with data validation services and cross-industry collaboration.

10 July 2023

Finextra TV/payments

Exploring the Impact of Data and AI in Digital Banking

Sophia Wikander, General Manager, Financial Services, Western Europe, Microsoft, speaks at EBAday 2023 about the impact of data and AI in digital banking on customers, strategies for banks to maintain competitiveness and improve customer satisfaction, and approaches for optimising key opportunities.

10 July 2023

Finextra TV/payments

The potential introduction of the Digital Euro: What do Banks need to consider?

Daniel Szmukler, EBA Director / Innovation, Member Relations and Strategic Engagement, Euro Banking Association, speaks at EBAday 2023 about what the EBA Working Group has identified as key considerations and challenges for banks with the potential introduction of a digital euro. We look at their latest report on retail CBDCs and wholesale CBDCs, the next steps banks should be taking, and where the EBA’s research efforts will go next in the digital payments space.

04 July 2023

Finextra TV/regulation

Implementing EBA's Pan-European Fraud Taxonomy: First Findings from Early Movers

Thomas Egner, Secretary General, Euro Banking Association, and Annick Moes, Head of Industry Issues and Cooperation Initiatives, Euro Banking Association, discuss at EBAday 2023 the practical impact of the EBA's pan-European taxonomies addressing KYC and fraud combatting. They share feedback from first movers, which have implemented the EBA Fraud Taxonomy for fraud analytics and customer education, and comment on the taxonomy’s increasing relevance in the context of evolving payments regulation at EU level.

04 July 2023

Finextra TV/payments

The Clever Use of Data

Edward Chandler, SVP, Head of Commercial and Money Movement Solutions for Europe, Visa, speaks at EBAday 2023 about the power of open data in enabling the future of payments, and how data and AI are being used to create more seamless experiences to help people and businesses thrive.

04 July 2023