Banks are now expected to provide instant payments and other services on demand. Roland Brandli explains this is creating pressures on legacy core systems that must now be changed. He is head of digital payment controls at SmartStream Technologies, helping banks around the world from his base in Dubai.

Timecodes:

0:00 - Roland Brandli, SmartStream

1:03 - Unexpected impact of banks handling instant payments

2:15 - The problem with international standards

3:56 - Why systems aren't interoperable, yet

4:51 - Hidden costs, competitive issues for legacy I.T.

6:32 - Incumbent banks versus fintechs, neobanks with built-for-purpose tech stacks

8:34 - Choosing partners, understanding processes

9:45 - This is the turning point for legacy tech

13:50 - AI, blockchain, buzzwords versus real use cases

16:50 - From traditional silos to just-in-time processes

20:11 - Vendors also changing their tech stacks

22:10 - Dealing with the complexity of integrating control systems, eg APIs

24:03 - Lessons for banks from Facebook's big shutdown