Canadian innovation in a post COVID-19 world

Canada’s modernization program is seen by many as one of the most comprehensive in the world in that it aims to innovate across every payment type. Payments Canada’s ambitious multi-year project involving multiple new systems and migrations between several message standards will see a new era or innovation for payments in Canada.

But how has the current global pandemic impacted upon this path to innovation, for both banks and industry regulators?

With the move to digital transactions, and remote working possibly becoming the new norm for a foreseeable length of time. How are the banks seeing these trends impacting them, and what roadmaps are they putting in place now to create future innovations that will allow them to adapt in an agile manner that will perhaps become the hallmark for businesses after this current crisis has passed.

In order to discuss these key points we have gathered together an exclusive panel of speakers including:

• Maureen Jarvis, Bank of America
• Lisa Lansdowne-Higgins, RBC
• Graham Rule, HSBC
• David Watson, SWIFT
• Robert Mancini, Finastra

Moderated by Todd Roberts from Deloitte, we looked to unpack some of the following topics:

• How are banks innovating in this current climate. Where do they see the opportunities for change coming from?
• What is Payments Canada’s vision for innovation in Canada? How are they supporting the banks to achieve this?
• How have the recent announcements from SWIFT and the extension for the MT to MX migration been received by the banking sector in Canada?
• What is the future of cross border payments? Will we need to re-evaluate the revenue models we currently use?