Welcome to Sibos 2018

Societe Generale’s collective insight into Sibos 2018

Today, no article on financial services is complete without certain key words: big data, blockchain, artificial intelligence, machine learning, open application programming interfaces and cyber security. These words and phrases, which barely existed a decade ago, are now deeply embedded in society and show the importance of technological change in this industry.

This year’s Sibos theme, “Enabling the digital economy”, embraces this change and resonates with the ethos espoused by experts from within Societe Generale’s Global Transaction Banking and Securities Services divisions, and elsewhere across the bank. They have employed technology to create operational efficiencies, augment the client experience and initiate new offers. Every day is a new opportunity for Societe Generale to take up challenges on behalf of their clients and partners and make a positive contribution to building the world of tomorrow.

These projects are beginning to mature as society moves further into what is rightly considered the fourth industrial revolution. An integral feature of this new era is an evolving regulatory framework. Banks must be more transparent, efficient and effective than ever before. This new environment demands a combination of expertise and skills on the part of banks and their clients.

To read more about the ongoing digital transformation in financial services and discover further opinions and insight from Societe Generale, read the latest Expert Views.

Latest expert views

Enabling the digital economy
This year’s theme “Enabling the digital economy” resonates deeply with our experts from within Societe Generale’s Global...
SIBOS
This year’s theme “Enabling the digital economy” resonates deeply with our experts from within Societe Generale’s Global Transaction Banking and Securities Services divisions and elsewhere across our bank. Every day is a new opportunity for our Group to take up challenges on behalf of our clients and other partners and make a positive contribution to building...
en/expert-views/actus/news/enabling-the-digital-economy/
After the tsunami…
Eric de Gay de Nexon, Head of Strategy, Market Infrastructures and Regulation, Societe Generale Securities Services, on...
SIBOS
Eric de Gay de Nexon, Head of Strategy, Market Infrastructures and Regulation, Societe Generale Securities Services, on regulating the development of new technologies and the digital transition.
en/expert-views/actus/news/after-the-tsunamie/
ISO 20022 proves its credentials in harmonisation efforts
A relatively mature standard in Europe, momentum is building behind ISO 20022 globally as its benefits across a wide...
SIBOS
A relatively mature standard in Europe, momentum is building behind ISO 20022 globally as its benefits across a wide range of financial services activities become more apparent.
en/expert-views/actus/news/iso-20022-proves-its-credentials-harmonisation-efforts/
Market dynamics and its impact on correspondent banks
The correspondent banking industry in Europe is facing a number of challenging dynamics, not least declining revenues,...
SIBOS
The correspondent banking industry in Europe is facing a number of challenging dynamics, not least declining revenues, mounting regulation and AML /KYC obligations and digitalisation, all of which are going to facilitate major changes in the world of cross-border payments. Societe Generale discusses the key trends impacting the European correspondent banking...
en/expert-views/actus/news/market-dynamics-and-its-impact-correspondent-banks/
Attracting and retaining talent in the new world of work
In today’s environment, the dynamics in the workforce are changing dramatically. Not only are business needs evolving...
SIBOS
In today’s environment, the dynamics in the workforce are changing dramatically. Not only are business needs evolving rapidly requiring a change from traditional business models, technology changes are influencing the nature of jobs and our approach to work. It is also becoming more widely recognised that diversity and inclusion needs to be a HR priority to...
en/expert-views/actus/news/attracting-and-retaining-talent-the-new-world-work/
Separating the myth and reality of AI in financial services
There is no doubt that artificial intelligence is set to fundamentally alter the financial services world. Customer...
SIBOS
There is no doubt that artificial intelligence is set to fundamentally alter the financial services world. Customer experiences will be enhanced, fraud detected and opportunities unearthed. However, at the moment the hype is overwhelming the potential and firms first need to have a better understanding of where the technology can have the greatest impact.
en/expert-views/actus/news/separating-the-myth-and-reality-financial-services/
The promise of the cloud and API and the security obstacles that stand in its way
Although it has been well proven that cloud and application programming interfaces (API) can create cost effective,...
SIBOS
Although it has been well proven that cloud and application programming interfaces (API) can create cost effective, scaleable and innovative platforms, data security and operational transparency remain major hurdles to widespread adoption in the financial services community. To move forward, institutions must not only embrace a cloud focused culture from a...
en/expert-views/actus/news/the-promise-the-cloud-and-api-and-the-security-obstacles-that-stand-its-way/
Blockchain: Technological genius or marketing concept?
Clearly, blockchain and more widely, Distributed Ledger Technology (DLT) still has plenty of wind in its sails. Billed...
SIBOS
Clearly, blockchain and more widely, Distributed Ledger Technology (DLT) still has plenty of wind in its sails. Billed from the outset as disruptive, it has promised to revolutionise the old-fashioned centralised applications in a cost effective and efficient manner.
en/expert-views/actus/news/blockchain-technological-genius-marketing-concept/
Employees: the biggest cause of and best solution to cyber-crime
Quantifying the business losses triggered by cyber-attacks is not for the fainthearted. Industry experts predict...
SIBOS
Quantifying the business losses triggered by cyber-attacks is not for the fainthearted. Industry experts predict cyber-crime will cost the world $6 trillion annually by 2021, compared to $3 trillion in 2015 (1).
en/expert-views/actus/news/employees-the-biggest-cause-and-best-solution-cyber-crime/
The SME cyber challenge
The scale of cyber-crime should not be downplayed. In fact, cyber-crime overtook asset theft as the most commonly...
SIBOS
The scale of cyber-crime should not be downplayed. In fact, cyber-crime overtook asset theft as the most commonly perpetrated fraud against UK businesses for the first time ever in 2018, according to findings by PwC.
en/expert-views/actus/news/the-sme-cyber-challenge/
The 4th industrial revolution & geopolitics
A short inquiry into the nature and causes of fairness amongst nations.
SIBOS
A short inquiry into the nature and causes of fairness amongst nations.
en/expert-views/actus/news/the-4th-industrial-revolution-geopolitics/
The Global FX Code and its unintended consequences on correspondent banking
The Code does not impose any legal or regulatory obligations on market participants.
SIBOS
The Code does not impose any legal or regulatory obligations on market participants.
en/expert-views/actus/news/the-global-code-and-its-unintended-consequences-correspondent-banking/
Agility a must in negociating the way ahead
It seems logical before discussing the likely future look of capital markets in the fastencroaching world of...
SIBOS
It seems logical before discussing the likely future look of capital markets in the fastencroaching world of digitalisation to take a moment to consider the starting point. Digitalisation affects capital markets globally across all asset classes from traditional bonds and equities to alternatives including private equity and hedge funds.
en/expert-views/actus/news/agility-must-negociating-the-way-ahead/
A lot more work lies ahead
Eric de Gay de Nexon, Head of Strategy, Market Infrastructures and Regulation, Societe Generale Securities Services,...
SIBOS
Eric de Gay de Nexon, Head of Strategy, Market Infrastructures and Regulation, Societe Generale Securities Services, considers the role of regulation in post-crisis securities markets and who has benefitted most from the exceptional additional investment required.
en/expert-views/actus/news/lot-more-work-lies-ahead/
Digitalisation in Asset Management putting power into the hands of investors
Asset managers around the world have raised the bar, introducing new business models with the potential to disrupt the...
SIBOS
Asset managers around the world have raised the bar, introducing new business models with the potential to disrupt the post-trade ecosystem. In this paper, asset managers and platform providers, share their views on the latest trends, the potential impact across the ecosystem and why moving beyond the comfort zone may be necessary for survival in an ...
en/expert-views/actus/news/digitalisation-asset-management-putting-power-into-the-hands-investors/
Open banking via API is a fact
Open banking via API is an integral component of the future of banking. Some in the industry will welcome that fact....
SIBOS
Open banking via API is an integral component of the future of banking. Some in the industry will welcome that fact. Others will not. But in order to prepare we must accept that it is a fact.
en/expert-views/actus/news/open-banking-via-api-fact-1/
Reports of the death of banking grossly exaggerated
Reports of the death of traditional banking and finance have been grossly exaggerated, to misquote the celebrated author...
SIBOS
Reports of the death of traditional banking and finance have been grossly exaggerated, to misquote the celebrated author Mark Twain. Why do we say that? Much fuss has been made in recent years about the disruptive impact of financial technology (fintech) upon our industry.
en/expert-views/actus/news/reports-the-death-banking-grossly-exaggerated/
The Future-proofing of trade finance
Over the last few years, new technologies and growing digitalisation epitomised by exciting fintech solutions and...
SIBOS
Over the last few years, new technologies and growing digitalisation epitomised by exciting fintech solutions and developments such as Blockchain have been recurring themes at numerous trade finance forums globally. Indeed, the $9 trillion trade finance industry has remained wedded to long-established processes and paper-based systems, opening it up to...
en/expert-views/actus/news/the-future-proofing-trade-finance/
The shape of things to come?
What will the bank of the future look like? This is a question that interests bankers and futurologists alike. But it is...
SIBOS
What will the bank of the future look like? This is a question that interests bankers and futurologists alike. But it is more important for bankers to see the future clearly and adapt to meet it as it is, after all, their likelihood at stake. The only thing a futurologist might lose by getting it wrong is a reputation.
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Taking supply chain financing into the 21st century
Supply chain financing is a notoriously complex undertaking synonymous with widespread intermediation and...
SIBOS
Supply chain financing is a notoriously complex undertaking synonymous with widespread intermediation and inefficiencies. The existing framework has created an ecosystem where manual interventions reign supreme and unnecessary costs are saddled onto businesses, adversely impacting their working capital and liquidity optimisation. Efforts are being initiated by...
en/expert-views/actus/news/taking-supply-chain-financing-into-the-21st-century/
The Blockchain vision of correspondent banking – The future or utopia?
Correspondent banking is being dragged into the 21st century as customers are demanding greater efficiency and...
SIBOS
Correspondent banking is being dragged into the 21st century as customers are demanding greater efficiency and transparency as well as more stringent security and anti- money laundering measures. It is an area ripe for fintech solutions but there are also answers within the existing infrastructure such as SWIFT’s Global Payments Innovation Initiative (GPI),...
en/expert-views/actus/news/cross-border-payments-over-virtual-centralised-ledger-future-utopia/
Fighting fraud in real-time payments: a balancing act
As the global trend towards real-time payment systems continues to accelerate, many industry stakeholders fear increased...
SIBOS
As the global trend towards real-time payment systems continues to accelerate, many industry stakeholders fear increased fraud – and rightly so. One of the most pressing issues for banks, system operators and regulators is how to increase speed without sacrificing security.
en/expert-views/actus/news/fighting-fraud-real-time-payments-balancing-act/
The challenge of ensuring effective regulatory compliance
Ensuring effective regulatory compliance has become one of the prime challenges facing the modern banking industry in...
SIBOS
Ensuring effective regulatory compliance has become one of the prime challenges facing the modern banking industry in the wake of the global financial crisis. Heightened scrutiny has become a fact of everyday banking life, affecting both the payments we initiate and those we receive to ensure compliance with, for example, regulations governing financial crime,...
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