BMI-T Banking Forum 2006

Through a mix of keynotes, analyst presentations and panel discussions, the BMI-T Banking Forum 2006, on 19 October at the Hilton Hotel, Johannesburg, is to provide incisive insights into a key area of interest and relevance in South African banking today. The one-day event will explore the complexities banks are facing to implement integrated payment systems.

Banks are struggling with the specifics of how to implement integrated payment systems, or enterprise payments, and how to find ways to gradually reform the current `tangled web` of payment systems while keeping the costs down and benefits up - thus ROI has become key.

On a global basis and spread over a number of years, there has been a concerted effort to drive cash- and cheque-based economies to electronic payment mechanisms; a number of topics will touch on this aspect plus issues such as security and fraud in payments, the role of cards and the applicability of mobile payments.

In September 2004, Rt. Hon. Paul Boateng MP, Chief Secretary to the Treasury in the United Kingdom, summarised these points in an opening speech, "In global economic terms, with at least two billion of the world`s population possessing some form of precious funds `under the mattress`, there is now the opportunity to help transmit funds and safeguard these funds.

"By bringing them into the banking system, cash will be introduced into the formal economy. No economic innovation can guarantee an end to poverty, financial crisis or recession. However, for every developed or emerging market economy, modernisation is an essential pre-condition for growth, jobs, inclusion and a better quality of life."

The South African Reserve Bank has formulated "The National Payment System Framework and Strategy: Vision 2010" and has articulated the new challenges facing the NPS and the need for a new strategic direction. The topics of this forum will go some way in understanding key players and their topics in the payments system of South Africa and feasibility of the NPS Vision 2010.

The objective of the forum is to not only examine issues at an academic level but also to concentrate on practical solutions and workable strategies to deal with market realities. The sponsors involved in the forum are HP, Microsoft, Mastercard and Faritec.