ProgressSoft’s Key Highlights From Sibos 2021

ProgressSoft concluded today another successful participation at Sibos, the premier financial services event which took place virtually this year from 11 – 14 October.

As Sibos partner, ProgressSoft showcased its latest advancements in the fields of central bank digital currency, digital banking for corporates and retail, instant payments and more.

Stealing the spotlight once again at this year’s event is ProgressSoft’s Payments Hub Platform, a SWIFT certified CBPR+ ready solution and number one platform for successful digital transformation. The platform sparked the interest of hundreds of Sibos delegates, specifically in banking, for its ability to provide seamless migration to ISO 20022 with minimal to zero changes on back-end systems: a vital matter banks must complete before the end of 2022. This is in addition to the platform’s ability to connect with blockchain and payment networks, and act as a single hub that orchestrates all types of payments, including international remittances.

In addition, several insights by ProgressSoft’s team of experts in attendance indicated that while instant and cross-border payments are still prominent subjects in the financial landscape, Central Bank Digital Currency (CBDC) may be the most fundamental topic at this year’s Sibos. The team led several discussions on the future of currency, ProgressSoft’s Blockchain-based CBDC, recommended implementation approaches, crucial considerations and more on the agendas of central banks around the world: all of which indicate that migration to CBDC is being actualized sooner than the financial sector has anticipated.

ProgressSoft is pleased to be an annual Sibos partner and is keen to put into effect the insights gained as well as continue the conversations with financial experts across the globe.