Celent Webinar: Breaking the Payments Dam: External Forces Transforming the Payments Ecosystem
19 November 2015
Celent and HSBC have teamed up to provide the financial services industry with a regular stream of research reports, exploring the key issues that the industry faces. The report series focuses on the importance of carefully managing the impact of external forces in several critical areas including digital delivery channels, liquidity management, financial supply chain dynamics, and non-bank financial institutions.
The first set of live webinars looks at ‘Breaking the Payments Dam : External Forces Transforming the Payments Ecosystem’. In this webinar, Diane Reyes, Group General Manager and Global Head of Payments and Cash Management, HSBC along with Gareth Lodge, Senior Analyst with Celent’s Banking practice, discusses how external forces like regulation, technological advances and changing corporate behaviour, are profoundly altering the payments ecosystem of today.
“Some commentators have suggested that banking is facing its ‘Kodak moment,’ that if it doesn’t evolve quickly enough, it is going to be replaced by FinTech firms,” says Lodge. “Celent’s conclusion is somewhat different. Our assertion is that banking will change, but banks themselves will not disappear, at least not all banks. While there are new challenger banks entering many markets, Celent believes there will ultimately be fewer banks. Furthermore, we believe FinTechs and customers should hope that banks don’t disappear because it could be disastrous for both.”
This webinar is based on a recent Celent report of the same name.