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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.


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?


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.


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.


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.


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.


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.