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Davide Girompini, Global Leader Payments and Transaction Services, IBM, discusses how real-time payments analytics will be one of the most competitive environments for banks and corporates for the next five years.
Physical supply chains have been always considered generators of costs, so techniques and practices to analyze data to improve operational execution and cost efficiencies have been well developed over time: total quality management, just-in-time inventory
management, lean manufacturing, and kaizen are but a few of the management weapons in every supply chain manager’s arsenal. The same cannot be said for financial supply chains (FSC), of which payments represent a significant part. Until the 2008 financial
crisis financial institutions mainly focused on reducing internal back office inefficiencies, giving superficial consideration to the financial flows exchanged with corporate users. On their side, corporate users did not pay overly attention because the relatively
easy access to finance would offset any necessity for improvement. That left FSC processes very underdeveloped, with poor information sharing between buyers and suppliers, old-fashioned static payment and discounting terms, and largely manual pricing negotiation.
In my opinion this video nicely anticipates the next trends in how the optimization of FSC processes (starting with payments) will develop over time.
Payment analytics enables new new value added revenue producing services, improved productivity, lower risk related losses and higher customer satisfaction via
1. Delivery of better customer and market insight
2. Risk rating improvements for you and your clients
3. Better delivery of liquidity management information to clients and the bank
4. Enable improved sales and servicing efficiency
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Yon de Riviere, Senior Presales, Murex, speaks at Sibos 2019 about the challenges facing operations departments, the impact the need to thrive in a hyper connected world has on banks, how this effects business requirements and how banks can meet the challenges along the way.
Peter Hazou, Director of Business Development, Financial Services, Microsoft, Paul Thomalla, Global Head of Payments, Finastra, and Gareth Wilson, Managing Director, Global Payments, Accenture, join FinextraTV to discuss digital transformation in the payments space. Hazou, Thomalla and Wilson delve into why we've reached a pivot point in the payments landscape, payments compliance requirements, pressure on payments revenue, fintech competition, and future proofing in the digital transformation process.
FinextraTV reports from Sibos 2019 in London on the impact of Regulation on the industry. In this, final episode, we learn about how Banks are adapting to the changing regulatory landscape, whether the cost of compliance outweighs the value of innovation, what success in this space demands and whether regulation will be able to keep up with the pace set by the tech giants.
Standard Chartered, Deutsche Bank, Nordea, LHV, KPMG and Crown Agents Bank are among the many leading institutions to share their views exclusively with Finextra Research.
Scott Mullins, Director, Worldwide Financial Services, Business & Market Development, AWS, speaks at Sibos about the impact of cloud on the transformation of bank, how this transformation will accelerate and how Open banking ties into banks transition to the cloud.
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