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Reflections on SIBOS 2011

Reflecting on SIBOS 2011 is a mixed bag of feelings.

On the one hand, I spent most of the time in the innovation stream, and that was full of life, debate, fun and energy.

On the other, I spent the other half of my time on the exhibit floor and in the plenaries, which were full of deep thought, consideration, discussion and seriousness.

The contrast could not be greater, as was evidenced by the mix of the drums of innotribe against the suits of the stage.

The industry is clearly still in the grips of regulations, uncertainty about the future, concerns over risks in the system and challenges in incorporating change.

As SIBOS rumbled on this week, we also saw global ripples of risk, as the stock markets lost billions and the Eurozone continues to strain under the burden of Greece and the other southern states.

All in all, it made for a SIBOS with a certain smell … the mild smell of fear.

Whether those fears are well placed or misplaced remains to be seen as the next year unfolds until we all meet again in Osaka, but there is clearly still ghosts in the banking machine.

Therefore, I don’t quite agree with Gottfried Leibbrandt’s summary that we have reached the time of action and moving forward.

I still think that Toronto has the financial industry caught in a whirlwind of uncertainty, and until the clear vision of change is delivered that Larry Sweet of the Federal Reserve referred to in Tuesday’s plenary, this challenge of an unclear future will remain.

On that note, it’s time to move on and get back to the reality of work, so here’s a few final pictures that, for me, capture the essence of SIBOS 2011 …  


























About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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  • That last pic shows you followed the advice of the Innotribe pic – “Have Fun”
    Great comments as always Chris.

  • Alec Nacamuli

    Do these pictures not remind you of the band playing on while a famous ship was sinking…?