skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus
Article related to:


Sibos 23: the future of money is choice

Contributor, ANZ Institutional Insights

2023-09-19 00:00

The pace of change in technology is driving a rapid expansion in payment options for consumers and businesses. But Jackie Kallman, ANZ’s Head of Payments Industry, says we shouldn’t see these systems as competing with each other - there’s enough room for it all.

Speaking to ANZ Institutional On Air, Kallman said a diverse payment environment would be the status quo for “the foreseeable future” offering unique “parallel universes of innovation”.

“And that's okay,” she told Lisa Vasic, ANZ’s Managing Director, Transaction Banking on the podcast.

“We are going to have certain interactions and trades that occur in a purely digital environment and others that are more hybrid.

“All Australians will have access to cash as long as any Australian wants access to cash.

“I don't think any of these things contradict each other and I think… there's enough room for it all.”

Vasic and Kallman were speaking ahead of the upcoming 2023 Sibos financial services conference. You can listen to an edited version of the conversation on podcast below.


The future is digital

Vasic said the pace of technological change had been significant, and noted treasurers had become “more and more familiar with digital transition and what this means for their business”.

“[In 2023] there's a confluence of forces really amplifying what we mean by the future of money, particularly around digitsation for our customers,” she said.

Kallman said digitisation was unlocking myriad benefits for businesses, not least efficiency and connectivity. Tokenisation would play a key role moving forward, she said.

“Tokenisation, digitisation, digital money, digital currency and smart contracts are really opening up a world of opportunity in terms of the way we can orchestrate atomic settlement,” Kallman said. “There's genuine benefits in a tokenised economy, in a digital economy.”

Vasic said ANZ had noted a shift among its customers around the kind of questions they asked about digitisation. While previously the discourse was centred on understanding the concept of digitisation, it has now shifted to exploring its strategic and practical implementation, she said.

“What's top of mind for our customers now is how they continue [to progress], and making sure they're more digitally enabled to ensure that they can compete,” Vasic said.

Sibos is back again. After a successful post-pandemic return last year, the world’s premier financial services conference will bring the best minds in the business to Toronto in 2023 – and ANZ will be among them.

From September 18 to 21, the Sibos financial services conference will provide a forum for industry participants to set the agenda for banking in 2024 and beyond.

In the lead up to the event, ANZ Institutional Insights will provide thought-leading conversations from ANZ’s experts that will offer a sneak peek at the ideas set to dominate the conference – and future of the industry.


Vasic said banks like ANZ had an important role to play in building resilient systems that help protect payments infrastructure from scams and fraud.

“It’s important for productivity purpose, and it's important from a resiliency and governance stream,” Vasic said.

Kallman agreed.

“The faster we get, the more real time we get…, the faster those financial crime occurrences can happen,” she said. "We need resilient and secure systems.”

In some cases, it’s important for banks to slow down processes to ensure their security, Kallman said.

“We’ve gone from ‘how do we take out all the friction’ to ‘how do we actually introduce friction at the right points, but certainly not across the board’,” she said. “We still want that seamless, integrated customer experience”.

You can listen to the podcast above to find out more.

Sibos 23: the future of money is choice
Alexandra Cooper
Contributor, ANZ Institutional Insights
Sign up
Icon of ANZ logo coming out of an envelope

Receive insights direct to your inbox


Related articles

This publication is published by Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (“ANZBGL”) in Australia. This publication is intended as thought-leadership material. It is not published with the intention of providing any direct or indirect recommendations relating to any financial product, asset class or trading strategy. The information in this publication is not intended to influence any person to make a decision in relation to a financial product or class of financial products. It is general in nature and does not take account of the circumstances of any individual or class of individuals. Nothing in this publication constitutes a recommendation, solicitation or offer by ANZBGL or its branches or subsidiaries (collectively “ANZ”) to you to acquire a product or service, or an offer by ANZ to provide you with other products or services. All information contained in this publication is based on information available at the time of publication. While this publication has been prepared in good faith, no representation, warranty, assurance or undertaking is or will be made, and no responsibility or liability is or will be accepted by ANZ in relation to the accuracy or completeness of this publication or the use of information contained in this publication. ANZ does not provide any financial, investment, legal or taxation advice in connection with this publication.