Global financial leaders gathered at Sibos 2024 in Beijing to discuss the future of payments, compliance and inclusion. From ISO 20022 to artificial intelligence, the event showcased how innovation and collaboration are driving the transformation of global finance.

Rachel Whelan, head of corporate cash management for APAC and MEA, and global head of payments and transactional foreign exchange, and Oliver von Quadt, global head of merchant solutions at Deutsche Bank, emphasised how the bank’s merchant solutions and strategic partnership with DataMesh enable merchants to consolidate fragmented payment streams and simplify cross-border business transactions.

TAIB is looking to redefine financial services in Brunei through its customer-focused, Shariah-compliant, and technology-driven solutions.

Stablecoins bridge traditional banking and digital assets, enhancing cross-border payments, financial inclusion, and global trade while requiring robust regulation and collaboration.

Cross-border payments in the Asia Pacific region are being transformed, driven by both industry action and regulatory initiatives responding to evolving customer demand.

Nguyen Thi Quynh Giao, head of retail banking at BIDV, explained how the bank is driving growth through a comprehensive transformation strategy, focusing on digital innovation, private and SME banking for Vietnam’s HNWIs and entrepreneurs, especially women, and regional expansion.

Siew Chan Cheong, group chief strategy and transformation officer at Maybank, discussed how the bank leverages digital innovation and strategic partnerships to enhance customer experience and drive sustainable growth.

Cathay United Bank has been recognised with nearly 90 awards as of November 2024, underscoring its achievements in areas such as wealth management, digital innovation and ESG initiatives

The Middle East and Africa lead in bank profitability, benefiting from considerable non-interest-bearing deposits and elevated oil prices in the Middle East, along with high interest rates and foreign exchange gains in Africa, according to the TAB Global 1000 Strongest Banks Ranking.

CTBC Bank aims to redefine retail banking by leveraging generative artificial intelligence, championing sustainability, and tailoring services to diverse customer segments. Its leadership team discussed the strategies and outcomes that place the bank at the forefront of the industry.

Asset tokenisation and distributed ledger technology are reshaping finance by bridging traditional and digital markets. From Europe, Hong Kong, Singapore to the UAE, innovations in this space promise efficiency, liquidity and inclusion while addressing challenges like regulatory compliance and interoperability, making these technologies critical to the future of global financial systems.

Mr. Samir Subberwal, Managing Director & Head, Consumer, Private, Business Banking & Digital Banks, Asia at Standard Chartered Bank shaped the bank’s core retail banking priorities across all markets in Asia, which saw tangible improvements for both customer and the retail banking business.

Standard Chartered Hong Kong’s Stephen Man, Alson Ho and Mona Sengupta discussed the bank’s ongoing journey of innovation across deposits and wealth management, emphasising digital transformation, client-centric solutions and robust adoption of data analytics.

Damith Pallewatte, managing director/CEO of HNB, has charted a bold and ambitious course for the institution. Under his leadership, HNB is embracing digital transformation, growth opportunities and regional expansion to bolster Sri Lanka’s recovery and establish itself as a competitive player in the regional banking landscape. In a wide-ranging interview, Pallewatte revealed how HNB is tackling some of the most pressing challenges in the banking sector while pursuing innovative strategies that will enable long-term growth and sustainability.

In the panel discussion, “Leveraging opportunities in Latin American markets for strategic investment and capital management,” on how financial services can empower Chinese enterprises for global expansion,” Santiago Toledo, commercial counsellor at the Embassy of Mexico in China, and Adriano Giacomet, head of trade promotion and investment at the Embassy of Brazil in China, delved into how Chinese enterprises looking to expand their businesses overseas can navigate the complexities of Mexico and Brazil to achieve sustainable growth.