Conversations about how new technology – and generative artificial intelligence in particular – will transform the transaction-banking business are assuming ever greater urgency.

This was very much in evidence at Sibos this year, where one panel discussion posited the theory that unprecedented change is the most likely outcome of wider use of AI, application programming interfaces (APIs) and cloud technology.

APIs enable seamless integration of bank exchanges directly within business processes

Steven Lenaerts, BNP Paribas

What does this mean for the customer experience?

From a pure treasury perspective, APIs have mostly been used around intraday/real-time liquidity positioning to underpin financial decision-making and optimise yield, explains Steven Lenaerts, head of global channels and digital onboarding at BNP Paribas.

“From a broader transaction-banking perspective, APIs enable seamless integration of bank exchanges directly within business processes,” he says. “We have seen this notably in combination with instant payments, for example in reimbursement payments and wallet payments.”

Tom