Can banks keep up with payments?

We are living in a world in which people demand payments be instant.

That’s according to Roland Brandli of Smartstream Technologies, who works with a variety of financial institutions to support their adoption of real-time payments across customer segments.

But as our webinar demonstrates, this is far from easy. Shirish Wadvikar, managing director of global payments at Standard Chartered Bank, says it is important to be clear about the challenges that “instant” payments is putting on banks’ legacy infrastructure.

Chintan Shah, managing director of cash management for Asia Pacific at Deutsche Bank, notes that complexity is increasing as banks chase business across both B2B wholesale and consumer-facing businesses.

Victor Alexiev, a technologist in-house at Citi, describes how technology is transforming banks’s revenue models as they shift from processing big chunky transactions to a stream of steady, real-time, small payments.

Benjamin Quinlan, CEO at consultancy Quinlan & Associates, discusses the impact of smaller-value payments across the business of banking.

Jame DiBiasio of DigFin keeps asking questions about how the entire banking model faces the challenge of facilitating payments as they go completely digital, even to the point of central bank-issued currencies.

• Timecodes:
• 0:00 – Can banks keep up with payments? and cool intro music
• 2:11 – What is the relevance today of banks in payments?
• 3:55 – Can banks’ infrastructure keep pace with demands?
• 6:07 – Where banks lead…and where fintechs have overtaken
• 9:47 – The world is going “instant”
• 13:00 – How banks are adapting to real-time demands
• 16:16 – Dilemma between meeting customers versus end-to-end processing
• 19:55 – New revenue models based on 21st century payments
• 22:06 – Cross-border payments versus local merchant acceptance
• 26:04 – How banks monetize small and fast streams of payments
• 27:15 – The fastest payments bank wins
• 28:14 – Real-time data on payments is da bomb
• 28:40 – Payments volumes way up, but size of payments way down
• 29:48 – Banks operating as “open loops”
• 31:08 – Asia is fragmented
• 31:31 – Open business models
• 32:32 – Super hard for banks to adjust…but maybe it’s working
• 35:38 – Collaboration is key, but man it ain’t easy
• 38:16 – Adopting new technology is necessary but jeez also hard
• 42:22 – Money itself is changing; the big CBDC question
• 44:46 – CBDC still the big question
• 46:32 – The world of payments is getting MORE complex and less standardized
• 47:35 – Quick comment on merchant-level payments
• 50:12 – Thank-yous and cue the theme music