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]."
"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."
"We live entirely in a highly regulated space - and from multiple angles," says Currie. "The requirements have gone up and will keep going up. But we also have a genuine interest in working with fintechs. For this to hang together, we have to follow the rules together."
"Tools, processes, clarity of requirements, softer things like skills - it goes across everything," says Currie. "If we don't see that our partners are up to scratch we have to say, and try to help. And make adjustments internally if needed."
"What will leadership at Sibos 2050 look like? Younger, more diverse (in the fullest extent of that but notably gender and ethnicity)," says Currie. "Leadership will have to navigate an entirely different collaborative landscape."
“The bad news is I’m a central banker and we don’t tend to speak for less than 45 mins. The good news is I’ll be about 25 mins today,” jokes Sir Jon Cunliffe of @bankofengland.
“As the use of cash has diminished, commercial bank digital money has come to dominate transactions in the UK,” says Sir Jon Cunliffe of @bankofengland. “But we will continue to issue cash as long as there is any demand for it.”
“Tokenisation and smart contracts offer many benefits,” says Sir Jon Cunliffe of @bankofengland. “This has major implications for us. We’re ultimately responsible for ensuring that each of the monies circulating is robust and uniform.”
“As the world around us and the way we pay for things becomes more digitalised, the case for a digital pound in the future continues to grow," says Andrew Bailey, governor of the @BankOfEngland.
“While cash is here to stay, a digital pound issued and backed by the @BankOfEngland could be a new way to pay that’s trusted, accessible and easy to use,” chancellor @Jeremy_Hunt said.
“CBDCs could equip central banks with new tools to significantly help soften the impact of forthcoming financial crises, given they would provide a real-time view of risks and currency outflows,” @techmjh, our Chief Product Officer said.
Our CPO, @techmjh recently spoke to Lauren Mills at @IPEnews in an article, ‘Private markets: Is tokenisation a good idea?’
He says, “blockchain will have massive transformational impact across the whole of financial services.”
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Martin adds, “tokenisation reduces the need for intermediaries and time-consuming manual processes. With a correctly set-up token, you can also see the beneficial owners of the underlying assets, reducing the cost of compliance and anti-money laundering procedures.”
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“Over the next few years, trust will be a huge factor that determines the adoption rate of tokenisation within asset management. Investors will need certainty that fund managers can link the token to the real economic rights of the underlying asset,” says @techmjh.
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"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."