At the Singapore Fintech Festival 2024, Matthew Driver, executive vice president, head of services at Mastercard Asia Pacific, highlighted that as account-to-account payments expand, fraud—especially authorised push payment—is rising globally. Although he has seen fraud levels increase with digital growth, new security measures, such as secure card authentication enabled by tokens, biometrics, and passkeys are helping to reduce overall fraud rates. Driver emphasised that enhanced layered security protocols are essential to countering the broader opportunities for fraud in a connected digital landscape.

Rehan Ahmed, CEO of Marketnode, shares insights into Euroclear’s strategic investment, MAS’s support for asset tokenisation, and how Marketnode’s partnerships are advancing cross-border digital asset capabilities.

Ronak Daya, head of product at Paxos, explained how its latest stablecoin, the Global Dollar, and the Global Dollar Network aim to drive institutional adoption by aligning incentives, enabling interoperability and building trust through compliance and transparency.

In an exclusive interview, ANEXT Bank CEO Toh Su Mei discussed the bank's mission to reshape financial services for MSMEs in Singapore and beyond. From digital onboarding to sustainable finance, Toh believes ANEXT is setting new standards in accessibility, product innovation, and customer-centric services for small and growing businesses.

The Global Finance & Technology Network was unveiled by chairman Ravi Menon at the Singapore FinTech Festival 2024. The network promotes collaboration amongst financial institutions, fintechs, and regulatory bodies to drive financial inclusion and innovation, aiming to position Singapore as a major hub in the global fintech ecosystem.

At Sibos 2024 in Beijing, BNY and Mizuho Bank jointly announced an agreement to collaborate on enhancing global trade services, further solidifying their positions in the international trade finance landscape. The partnership aims to leverage BNY’s extensive network and Mizuho Bank’s growing corporate client base to create seamless and efficient trade finance solutions for their customers.

Beijing took centre stage as the global financial community gathered for Sibos 2024, a milestone event that showcased China’s growing influence in international finance. The event, hosted for the first time in Beijing, attracted over 10,000 participants, online and offline, and delved into key themes such as payment system modernisation, the transition to the new rich data ISO 20022 messaging standard, the role of Chinese banks in cross-border trade, sustainable finance and implementation of global environmental, social and governance (ESG) standards.

At Sibos 2024 in Beijing, Tae Yoo, managing director of global client development at HKEX, shared insights into how HKEX Group is addressing the evolving dynamics of China's mainland markets. In a landscape shaped by recent government stimulus measures and technological advancements, Yoo outlined HKEX’s strategies to tackle settlement challenges, attract global investors, and enhance cross-border trading infrastructure.

Vietnam and Cambodia are key markets for digital consumer finance in Southeast Asia. Cathay United Bank is leveraging digital platforms and partnerships to expand in these high growth countries, aiming to be a leader in digital finance among Taiwanese banks in the region.

Swift and Bottomline collaborate to streamline cross-border payments and help financial institutions meet upcoming ISO 20022 deadlines, reducing friction and enhancing transparency.

At SIBOS 2024, Adam Lieberman, chief AI officer at Finastra, outlined the company's strategic focus on AI and its impact on financial services.

As financial institutions become increasingly interconnected, ensuring digital operational resilience while embracing artificial intelligence (AI) innovation is paramount. David Runacres, president of Asia Pacific at Broadridge, shared insights into how firms are integrating cybersecurity, managing risks, and balancing innovation with ethical and regulatory considerations.

At Sibos 2024 in Beijing, Temenos business director Frankie Wai addressed some of the pressing issues in financial services today: the ISO 20022 transition, the integration of AI and machine learning (ML) in financial systems, and the necessity of resilience by design in technology architecture. He underscored the transformative potential of these technologies and the challenges banks face as they adopt them.

At Sibos 2024 in Beijing, Sebastien Avot, managing director and APAC head of institutional cash and trade finance at Deutsche Bank, shared insights on how the bank is leveraging ISO 20022 to enhance payment services, address compliance, and tackle financial crime. He also highlighted the significance of collaborative data sharing in the prevention of fraud.

Atul Jain, co-head of trade finance and lending at Deutsche Bank, discussed the industry's transition to ISO 20022, the challenges banks face, the required infrastructure, and the innovation it will enable in trade finance.