Sibos 2023 Toronto brought together thousands of delegates from across the industry to explore the opportunities and challenges of the digital transformation of finance.</em></p> Throughout the 2023 conference programme, we were challenged to explore what the future of payments looks like, and how we get there – from AI to low value payments, CBDCs and crypto. Is the industry ready to meet customers’ demand for faster payments, both at home and across borders? </p> Here, we look back at highlights from four sessions in Toronto, now available for everyone to watch on Sibos TV</a></strong>.</p> Sibos 2023: Is the future of money digital and instant?</a></strong></p> Digitisation is changing the way we pay. The past decade has seen the rise of online banking and mobile apps. Consumers and businesses are migrating away from cash and cheques towards electronic payments, including card payments, electronic fund transfers and e-money payments. </p> There’s a rapidly growing use of contactless and fast payments systems. And central banks the world over are now exploring issuing their own digital currencies. Digital payments executed in seconds all around the world: Is that the future of money?</p> Sibos 2023: Beyond the buzzwords - Understanding the reality of AI’s reach</a></strong></p> The impact of AI was a recurring theme across the Sibos 2023 conference programme. With the unveiling of ChatGPT at the end of 2022, AI into processes, products and services is now a top business priority for organisations. Yet its potential impact at scale is still not well understood. How far and how fast will we go? In this session, experts shared their views about the impact of AI across financial services and beyond.</p> Sibos 2023: What’s next for low-value cross-border payments?</a></strong></p> Whether sending money to friends and family abroad or sourcing supplies overseas, consumers and small businesses are increasingly moving money across borders. Banks and other providers have a major role to play in making this experience simple and seamless.</p> In this Swift at Sibos session, the discussion focused on how correspondent banking is evolving to meet the needs of those sending low-value international payments, including services like Swift Go.</p> Sibos 2023: Digital currencies: CBDCs vs crypto, winners and losers</a></strong></p> Digital currencies have been making headlines over the past few years, from Libra/Diem and private stablecoins like USDC and Tether, to central banks around the world exploring digital versions of their own fiat currencies. </p> Moving beyond the hype, this session interrogated how the various types of digital currencies are actually being used today, and how market participants envision them being used in the future. </p> To watch all these sessions and other highlights from Sibos 2023 Toronto visit Sibos TV</a></strong>.</p> Sibos 2024 takes place in Beijing from 21 – 24 October. Registration will open in March, follow us on X (Twitter)</a></strong>, LinkedIn</a></strong> and Instagram</a></strong> for all the updates.</p>