Welcome to SOFE 2018!
The payments market is growing rapidly and is expected to continue to grow at an average of 6% per year until 2025. We have seen a rise in cashless payments in countries with rapid growth and technology adoption and, driven by changes in the retail payments space, clients are expecting faster and cheaper payments across the board. At the same time, the financial industry still faces the challenges posed by increasing cyber risks and new cyber regulation as well as ever increasing compliance costs.
The financial industry is also facing intense competition, with multiple competitors emerging mostly in the retail space but with an eye on the business space. Among these are fintechs, Money Transfer Operators, card companies, and digital giants such as Alipay, Google, Amazon and Facebook. All of this is fuelled by new technology (e.g. APIs, DLT and Artificial Intelligence) and regulations such as PSD2. The result is that there is a battle for customer access and data at a time when we are also seeing major changes in the market infrastructure landscape, including instant payment systems, the adoption of ISO20022 and the renewal/replacement of the RTGS market.
In this environment, operational excellence remains a crucial foundation for financial institutions to build and secure the future. SOFE has established itself as an unrivalled forum in which to debate our industry’s operational challenges and discuss how to achieve and maintain the levels of operational excellence and security we all aim for.
Join us at SOFE to hear more about SWIFT’s latest developments, such as the easy access to our services using APIs, the next version of the mandatory security controls, the Quality Assurance programme as well as the improved features of the KYC-Self Attestation tool and the Payment Controls Service. Make sure you attend and get updated on the Alliance Roadmap and on the Alliance Portfolio as well as on Lite3, AMH Instant, ISO2022 and much more.
The conference programme will again combine plenary sessions addressing the big picture questions that really matter, with in-depth work sessions on SWIFT’s products and services and the CSP. We will examine all the key challenges you’re facing, as well as progress in addressing them, particularly looking at where collaborative efforts can drive innovative solutions to common problems.
We hope you have a productive, informative and collaborative SOFE!
Head of EMEA Services and Support, SWIFT