SYDNEY, Sibos 2018 - The Asset's assistant editor Darryl Yu and staff writer Derrick Hong give a recap of day one. Here's what they found:

  

* Open banking APIs: a lot of discussions in Sibos 2018 centred around how information flow between banks can be facilitated in a more efficient way through API usage.

 

* This year eight Chinese banks are participating in Sibos 2018. It’s interesting to see not just the big Chinese banks but also the smaller banks exhibiting their products and solutions. A lot of interest in the smaller Chinese banks are coming from the smaller European banks, who are more keen to work with the smaller Chinese banks. In the past, they tend to be ignored by the bigger Chinese banks. Also, by having a presence in Sibos, the smaller Chinese banks are able to demonstrate that they have the capability to service international clients.