Following the success of the first edition, the 2nd Cecabank Payments Conference has consolidated its position as a benchmark forum for experts and representatives of leading institutions in the payments industry in Spain
Speakers provided insights into the impact of new payment solutions, the challenges of implementing emerging technologies and the regulatory challenges faced in ensuring efficiency, competitiveness and security in the provision of payment services
The trend towards a society where digital payments are at the forefront is unstoppable; by 2030, such transactions are expected to consolidate their use compared to cash and to triple in number globally. This context reflects a clear trend towards the replacement of cash between individuals by more instant, faster and more agile account-to-account (A2A) payments, which still face major challenges that will require new functionalities and technological capabilities. With the goal of exploring the challenges and opportunities that this industry will face in the coming years, Cecabank, the Spanish wholesale bank that offers specialised services in securities, treasury management and payments, has once again brought together the main representatives of the payments industry in Spain. Technological and regulatory challenges in payments
More than 180 professionals from 86 entities attended the 2nd Payments Conference: 'Upcoming business challenges', a conference that has established itself as a benchmark forum for the industry. The second edition of the event featured three round tables and a talk with the presence of top national and international speakers.
The conference was opened by Juan José Gutiérrez, Corporate Director of Technology Services at Cecabank, and Nuño Rodrigo, Editor-in-Chief of Markets at El País. In the words of Juan José Gutiérrez: 'The evolution of the industry demands a high degree of specialisation and a firm commitment to adapt to the new trends driven by digitalisation. Faced with incessant technological and regulatory challenges, the role played by the various stakeholders in the payments ecosystem is critical to addressing society's new demands. To this end, Cecabank, as a one-stop shop for payments, has adapted to these needs, offering flexible and innovative solutions to guarantee an excellent service, meeting the highest standards of security and regulatory compliance'.
In the first round table, entitled 'Technological challenges and their impact on the business', the speakers reflected on the evolution and challenges of the sector as a result of the emergence of new technological players. A debate moderated by Nuria Mohedas, Director of Payments and Digital Banking at Cecabank, and which featured Ángel Nigorra, CEO of Bizum, Rubén Gonzalez, Head of Swift Iberia, Juan Carlos Martín Guirado, CEO of STMP, and Eduardo Prieto, Country Manager at VISA. During the discussion, experts explored the role of large technology companies in the development of systems to build a global and connected payments industry, the rise of new innovative and flexible solutions adapted to the needs of users and retailers, and the importance of ensuring a security infrastructure capable of dealing with all existing risks.
Regulatory changes resulting from the digital transformation of the industry were then discussed. Under the title 'Regulatory challenges and their impact on the business', the second round table was moderated by Julio César Fernández, Director of Business Development and Operations Support at Cecabank, and featured Juan Luis Encinas, CEO of Iberpay, Alejandra Bernabei, CEO of EURO 6000, Alberto López, VP Digital Assets Security at Mastercard, and Gonzalo Pérez del Arco, Vice President EMEA Government Affairs American Express Europe. The speakers shared their views on the changes and challenges brought about by the new regulatory framework. The evolution towards the new regulations should ensure the stability and security of the system and promote the development of a global, competitive, interconnected and efficient payments industry.
The 2nd Payments Conference featured Diana Carrasco, Head of Digital Pound at the Bank of England, and Ana Fernández, Head of the New Products and Services Unit, within the Financial Innovation Division of the Bank of Spain. A conversation moderated by Juan José Gutiérrez, Corporate Director of Technology Services at Cecabank, in which the participants reflected on the development of digital currencies issued by central banks and their impact on the payments system today, as well as on the risks and opportunities of their implementation in society.
To bring the event to a close, Santiago Carbó, Director of Financial Studies and Executive Director of the Financial Digitalisation Observatory, analysed the current economic and political situation and its impact on payment services institutions.
Cecabank, a national and international hub in payment processing and a benchmark in adjacent services
Cecabank is an active player in the remarkable transformation that society is undergoing. As a one-stop shop for payments and a specialist in card, account, e-commerce and mobile payment solutions, in the last year it has processed more than 1.45 billion card transactions and more than 800 million account transactions, including 156 million customer-to-customer Bizum transactions, ensuring the best availability and high-performance services that accommodate the increased volume in instant digital payments. In addition, in line with the bank's strong commitment towards innovation, it has made significant progress in the implementation of new features to facilitate instant payments both between individuals and in retail outlets.
Cecabank's service offering ranges from comprehensive solutions for the management of payments, exchanges and bill discounting to foreign exchange solutions for international payments, through the Global FX Payments (Cross-Currency Payments) service, as well as dynamic currency conversion solutions for retailers and ATMs, using the latest technology in artificial intelligence. The services portfolio is completed with the provision of Swift's Service Bureau solution and Cecabank's network of correspondents that allow customers' payments to be sent anywhere in the world. And because it is a bank, Cecabank guarantees the highest standards of security and regulatory compliance.
During this past decade, Cecabank has entered into strategic agreements with top-tier partners such as Visa or Cardtronics, and has strengthened its customer base and services portfolio in anticipation of new market requirements.
