It’s that time of year again. The banking industry is preparing for its yearly outing to Sibos, which brings together the financial industry for an entire week to meet, discuss the top issues of the day and generate new opportunities. This year’s event is being held in Amsterdam and coincides with our 35th anniversary as a company.
We’ll be celebrating on stand C203 while building on our heritage and expertise to campaign for a new approach to achieve real payment agility through the adoption of a new industry-wide framework known as the Payments Maturity Model. This framework acknowledges that non-cash electronic payments are now the mainstay of banking, but that to gain overall cost savings, improve margins, better manage risk, speed time to market with new products/services, and support true "markets of one" with their payment systems, financial institutions need to move towards "payments hubs".
At the moment this is difficult because many institutions lack clarity regarding the status of their current payments systems, and the value that will be achieved by a further investment in technology. This is why ACI has worked with Aite Group to develop the Payments Maturity Model which can assess a bank’s current position, provide direction on the order and types of activities needed to progress to the next stage, and assist with creating the business case necessary to invest in that stage.
To explain the Payments Maturity Model further, ACI will hold a Sibos session entitled Introducing an Important Industry Tool — The Payments Maturity Model (PMM). This will be held in Community room 4 on Monday 25 October between 11:00 and 12:30. Here our Chief Product Officer, Louis Blatt, will be joined by Nancy Atkinson, senior analyst from Aite Group, and industry experts to debate the future of the payments industry and the move towards payments maturity.
While the industry gears up for yet another mammoth event, we hope you get the time to join us at that session and also plan a visit to our stand. See you in Amsterdam.
Product Marketing Manager - Wholesale Payments
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