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Archive for tag: Sibos

The Magic Number Seven for FinOps Suite

 

 

Seven days of the week, seven colors of the rainbow... seven major events for FinOps Suite in 2018! Indeed, this year FinOps Suite will be Allevo's Snow White, so let's meet its 7 dwarves.

 

 

We'll kick off the year with a spring conference by Oxygen Events, dedicated to digital banking, followed by FinMedia's FinTech Forum.

 

Early summer catches us in Amsterdam at the Money20/20 Europe conference and, as soon as everybody gets back to work in September, we're planning on holding an SME & corporate workshop in Bucharest, closely followed by attending the unmatched Sibos in Sydney.

 

As 2018 reaches the end, FinOps Suite will be back home at SWIFT Business Forum Romania and, being one step closer to completion, it will also benefit from a well-deserved prom, as the highlight of our annual User Group.

 

 

1 – Digital Banking – March, Bucharest

Given the increasing share of online transactions, the annual Romanian conference on digital banking will not only tackle current trends in the industry, but also cybersecurity and financial education.

 

2 – FinTech Forum – May, Bucharest

Digitalization, technological progress and innovative business models coming from FinTechs will definitely influence the market more and more, hence an entire day is dedicated to them in an interactive, topical forum.

 

3 – Money20/20 Europe – June, Amsterdam

The conference team is made up of some of the most inventive payments and events professionals globally. Bringing together the entire financial services industry for three days, ideas are created, partnerships are formed and future trends are imagined.

 

4 – Allevo Workshop for SMEs and Corporations – September, Bucharest

Entirely focused on FinOps Suite, the workshop will bring together specialists from Romanian companies of all types and sizes who might greatly benefit from the financial software we are developing as part of our EU-funded TOSS project.

 

5 – Sibos – October, Sydney

This is the very well-known global financial services networking event organized by SWIFT. The annual conference and exhibition connects more than 8,000 executives, decision makers and thought leaders from across the industry.

 

6 – SWIFT Business Forum Romania – November, Bucharest

The event, organized by the Romanian Banking Association and SWIFT, in partnership with Allevo, gathers executives, IT&C specialists, payments and operations officers from financial institutions, as well as representatives of their corporate clients, debating challenges and opportunities for the Romanian banking and financial industry.

 

7 – Allevo User Group 31 – November, Bucharest

Our end-of-year user group wraps up ongoing and future projects, pinpoints accomplishments and targets, while also highlighting and strengthening partnerships, and helping identify new opportunities.

 

 

Looking forward to an amazing fairy tale year, full of energy and rewarded effort!

 

 

 

Sibos 2017 at a Third Glance

 

 

 

 

...and then there was Wednesday at Sibos Toronto and along with it came highlights on ISO 20022 implementation, open banking threats and opportunities, international payments, cyber risks and malicious insiders, global uncertainties in the financial industry, correspondent banking, instant payments, RegTech, banking APIs, disruption, innovation. Quite a handful.

 

 

Plenary - The Future of Money

 

We liked this analogy: "Data centres are the oil refineries of the digital age, extracting value from raw information in the form of predictive patterns and other insights."

 

So we decided to illustrate it:

 

 

 

Bottom line: The financial industry must extract more value from their platforms and the abundance of data they possess!

 

Fine print: Financial services organizations should move from a transactional business model to one of enablement, using data to drive bigger strategic business decisions instead of merely influencing pricing and risk.

 

 

Australia and the New Payments Platform

 

Australia's NPP caught our attention and the large amount of flexibility it entails should be an inspiration for us all. While Australia's take on open banking is no secret, and we've previously scratched the surface, this particular project promises the launch of a whole new era.

 

"It's a major industry initiative to develop brand new infrastructure, to enable fast, versatile and data-rich payments 24/7."


- Katrina Stuart, NPP Australia -

 

 

Katrina also talked about the huge industry effort in terms of collaboration: "I think one of the key successes of the platform has been to define the areas where the financial institutions involved will collaborate, emphasizing that the collaboration needs to be around the infrastructure itself, around the data and the message standards, and then there will be the competition around the product layer as well as the customer interfaces."

 

Paul Franklin (National Australia Bank Ltd.) talked a bit about OSKO, the first innovative product to be delivered via NPP, which provides "the ability to make a person-to-person payment with service levels attached to it, which will give consumers the promise that their payments will be made within a number of seconds."

 

The infrastructure is distributed between gateways that are held by each of the participating institutions, so it's not a single hub in the centre of the network. Also, the architecture has been built with the ability to add new products on top of the basic infrastructure: overlay services.

 

In terms of message flows, Paul added: "We'll be sending a clearing request and getting a confirmation back before we settle; line by line settlement is an unusual thing, so this is essentially real time gross settlement on a vast scale."

 

 

Stay tuned for more insights from our final day at Sibos.

 

 

 

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