October 21, 2024 - October 24, 2024 Sibos Beijing |
November 06, 2024 - November 08, 2024 Singapore Fintech Festival |
Anyone who has lived long enough has their own China banking story. Mine was when I first arrived many years ago. My landlord banked with Bank of China (BOC) and I banked with the Industrial Commercial Bank of China (ICBC). At that time (2004), personal bank to bank transfers weren’t possible without a tremendous amount of paperwork, so once per month I would have to directly pay my rent via withdrawal / deposit. As banks typically closed at around 5pm, this meant it was a weekend exercise and one not easily accomplished.
The Chinese October holiday is just wrapping up here in China with millions of people returning from their home towns to major cities and getting back into work. The world markets haven’t been on holiday though and the teetering economic situation in Europe seem to be reaching a head.
This week we are attending the Sibos Toronto event which is put on by SWIFT. The event is arguably the largest financial services event in the world, bringing together banks, technology vendors and industry thought leaders.