Last week, the JDX team were in virtual attendance at the preeminent annual event for the financial services industry, the SWIFT International Banking Operations Seminar (Sibos), 2020.
Driving the evolution of smart finance was this year’s central conference theme, with the programme featuring sessions that explored how the financial services industry can make better decisions and run smarter businesses, whilst optimising data and technology. Coordinating around the central theme were related sub-themes, which included: delivering digital value, responsible innovation, and the future of finance.
The conference also focused on the immediate challenges that the industry and the World in general is facing through the ongoing effects of the COVID-19 pandemic, geopolitical trends, regulatory transformation, the evolving workplace and the role of data. In a fourth interconnected theme, a banking for humanity strand of the programme placed an essential emphasis on the social and environmental responsibilities that the industry must face now and in the future.
This was the first digital version of Sibos, targeted at a much wider global audience and with new content related to conference themes continuing to be published online on the second Tuesday of every month from November onwards.
Jamie Dimon, CEO of JPMorgan, delivered the opening keynote address by focusing on how the World was not prepared for a global pandemic like COVID-19, but should have been. He went on to champion the resiliency of the industry and how admirably it had responded to the challenges. He emphasised how with quick decision making, entire businesses sent their trading and infrastructure staff home, to work remotely for the first time ever, whilst facing the “biggest bond issuances, biggest trading months, biggest banking months.” and suggested that it was “flawless!”.
The conference provided a fantastic opportunity for our team to hear from industry leaders whilst reflecting on the “bigger picture” challenges influencing our industry. Some of the key trends and influences that are shaping the financial services ecosystem play close to JDX’s heartland and the real business problems faced by our customers, including:
- Driving intelligent innovation, which explored ways in which to dive the evolution of smart finance by optimising technology and data to transform financial services.
- Improving client “journeys” focused on ways to deliver better, data driven customer experiences in a more cost effective, streamlined way.
- Digital workforce and the new normal in a COVID disrupted World. How digital intelligence and technological innovation are reshaping our business and workforce strategies.
- Ethical technology. The role that technology plays in humanising banking and the clear impact financial wellbeing and inclusion has on health, as well as the role technology has in creating a more ethical and sustainable banking industry.
- Environmental, Social and Corporate Governance (“ESG”). Defining sustainable finance and ESG, beyond climate action and the environment.
JDX will continue to explore some of these key themes over the coming months.
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