The Sibos 2020 conference will be both virtual and free of charge – two details that reflect an extraordinary year, and the industry’s perennial appetite for information and ideas.

As the conference season commences, just how much the world has changed over the past months becomes materially apparent. In response to Covid-19’s shelving of physical forums, the big financial industry events have gone virtual and in some cases – such as Swift’s community conference Sibos (October 5-8) – have also become free of charge and, as a result, potentially more inclusive.

Can the 2020 digital event beat its record-breaking 11,500 delegates in London last year? It may come close because the industry’s need to share experiences, best practices and new ideas to take a leap forward together remains undiminished, especially in times of crisis.

Sibos 2020’s main theme is ‘Driving the evolution of smart finance’, covering delivering digital value, responsible innovation and banking for humanity. Recognising the importance of such an event, JPMorgan CEO Jamie Dimon has been confirmed as one of the keynote speakers.

Ahead of Sibos, The Banker’s special issue takes a deep dive into how the transaction and correspondent banking community is responding to the challenging environment posed by the pandemic.

One major challenge is having ready access to liquidity to see corporates through the crisis. This has led corporates to become more tenacious in their working capital efforts, in an attempt to release the significant liquidity tied up in their supply chains. And they are not only concerned with their own survival but also that of their suppliers. To ensure stability of their supply chains, especially smaller enterprises, corporates are showing greater interest in supplier financing solutions from their banking partners, as well as fintechs.

Cyber security is another challenging area for financial institutions, with evolving phishing attacks, ransomware and data leakages identified as the biggest threats and Covid-19 expanding the attack surface. A shift in emphasis has taken place in banking from cyber security to the broader concept of cyber resilience, so banks can respond to and recover from breaches quickly – and learn from the experience.

To access The Banker’s Sibos coverage, please go to https://www.thebanker.com/sibos.

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