November 04, 2020 | (3:00PM)
This session will examine how banks and payment service providers can achieve the end-to-end digitalisation needed to secure their relevance in the future. Digitalisation as a concept is not a new one in banking, and most banks and payment service providers have made significant progress in digitally transforming key aspects of their business. As the digital payments ecosystem continues to evolve, major drivers of change, such as regulation, technology innovation and competition intensify the need for banks and payment service providers to deepen their digital transformation. What progress has been made in assessing how to monetise open APIs, open banking, instant payments, and how should banks and payment service providers leverage them to create a central role for themselves in the emerging digital ecosystem? Consumer adoption of digital has transformed their expectations over the last decade, however, payments have not kept up pace. How can payment service providers leverage the digital innovations to provide a seamless, interactive and intuitive user experience?