Welcome to Day 3 of #Sibos.

This morning, we're bringing you highlights from @joymacknight's Inside Leadership interview with @BankofAmerica's Vice Chair, Cathy Bessant.
"There are 1.5m jobs in cyber alone that are unfilled today," says Bessant. "Our job is to train people for the skills we need today and in the future. Technology can be learned. We don't need more workers, we need the right skills."

#Sibos
On how to attract great technologist talent to #TransactionBanking, Bessant says that "if you solve a transaction banking problem, you're solving a problem for a lot of users. People love solving problems at scale."

#Sibos
"Empathy is un underplayed skill. It's the most important skill of the future," says Bessant. "Problem solving and creativity are the superpowers of the future. Every time we're responding to an RFP, we're not problem solving."

#Sibos
"Resiliency is a table stake for a digital world," says Bessant. "'Digital/security/resilience by design' is essential for a world at stress. We need to think about the public infrastructure for the world in which we do business."

#Sibos
"Cash is not gone," says Bessant. "We need to think about how we provide cash when the infrastructure that supports the system is down, in times of stress."

#Sibos
"Cyber is so interesting," says Bessant. "We cannot get lost in inherent risk. It's infinite. In some boardrooms they get lost in that. We need to focus on having the best tech and the best team."

#Sibos

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More from @quant_network

Oct 13
Next up here at #Sibos: Servicing #DigitalAssets - Who will win the battle?

#Sibos2022 Image
We'll hear from Caroline Butler of @BNYMellon, Nadine Chakar of @StateStreet, Justin Chapman of @NorthernTrust, Stephen Prosperi of @The_DTCC, and Samuel Riley of @Clearstream.

#Sibos #Sibos2022 Image
"It makes sense for us to lead with custody," says Butler. "We see it as foundational - execution is next. Clients come to us for trust, innovation, and client experience. Interoperability is key."

#Sibos #Sibos2022 Image
Read 14 tweets
Oct 13
Welcome to day 4 of #Sibos and the session: No, an NFT is not a security. Or is it?

with William Herkelrath of Chainlink Labs. Image
"One obvious use case for NFTs is #AssetManagement," says Herkelrath. "It's considerably faster and easier to tokenise a fund."

#Sibos Image
"You open up these technologies to people and you don't know what they're going to do with them," says Herkelrath. "Multiple concerts this summer were carried out as NFTs. You got more of an experience and you have a collectable. That's fascinating for the future."

#Sibos Image
Read 4 tweets
Oct 12
Live on the #Sibos stage: @JanineJoyHirt introducing Alistair Currie, Global Head of Consumer Banking & Payments, @Barclays.
"Innovation is no longer a department," says Currie. "It's part of our fabric. But we've figured out we can't do it all ourselves. We've grown more accustomed to working with partners and running an open architecture model [to innovate]."

#Sibos
"We look for partners of all shapes and sizes," says Currie. "We won't always use partners but we certainly look. We're looking for that bit of competitive edge."

#Sibos
Read 7 tweets
Oct 10
Starting shortly: today's #Sibos Big Issue Debate - Can digital value solve real world problems?

Emilie Rieupeyroux from @euronext, Shahmir Khaliq from @Citi, Sophie Gilder from @CommBank, and Umar Farooq from @jpmorgan will be @StreetsConsult's panel.

A 🧵... Image
"No one in this room is ready to transact when there is no one to contact if things go wrong," says Rieupeyroux. "What you want, at the very least, is someone you can sue if things go wrong."

#Sibos Image
"When you look at smart contracts, you can easily imagine an environment where someone you trust is certifying the smart contract," says Rieupeyroux. "There are many areas where centralised players can deliver value in a decentralised environment."

#Sibos Image
Read 15 tweets
Oct 10
Highlights from 'Is T+1 the goal or a step to instant securities settlement?'...a 🧵

#Sibos
"Reducing the settlement cycle is all about reducing counterparty risk," says Romhanyi. "Getting to T+1 will reduce a CCP's margin by 41%."

#Sibos
"We're talking about T+1 today because finally the technology can actually do it," says Grimonpont.

#Sibos
Read 11 tweets
Oct 10
Highlights from the #Sibos Opening Plenary...a 🧵
"Millions of small merchants are now taking payments from phones in their pockets," says HM Queen Maxima. "But we should not seek innovation for innovation's sake. The first priority is 'do no harm', ensure cybersecurity and data governance are in place."

#Sibos
"But we have a chance to move beyond that to 'doing good'," says HM Queen Máxima. "It is important to see how much value for customers and value for firms we can generate in the long term. How can we do more of this?"

#Sibos
Read 13 tweets

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