Payments, once perceived by many outside the space as a dull utility where regulators allowed “benevolent monopolies” to exist, has now truly moved on. Although it is still a highly standardized industry, regulation actively encourages competition.

As we traversed Sibos, we realized that there was one unifying message underlying all discussions related to payments: the industry will look and act very differently in a relatively short space of time.

In other words, not only is doing nothing not an option, but those who are slow to change or who fail to recognize how they are enabling much larger changes, will find themselves left behind as the industry pivots into a very different dynamic.

But rising to the challenge will take more than cosmetic fixes. Fundamental changes to the way we think, the way we operate and the way we execute will be needed. We delve into the forces driving this phenomenon and reveal what you need to do to bring about the necessary transformation.