Technology will be one of the major themes of Sibos. As data quantities move from terabytes to petabytes and now exabytes, working out ways to use it is becoming a big business.

Making predictions from large volumes of data, and searching for new data patterns for security and compliance purposes, is now at the forefront of the mind for financial participants.

“While big data continues to grow, so does the number of opportunities and challenges it can present to businesses,” said Larry Lerner, managing director at Accenture Analytics, who will be chairing the panel titled Big data is still hungry.

“Payment companies are currently seeking the benefits big data can offer such as improving business processes and reducing risks, and are keen to know the path to success with big data and how to obtain a return on their analytics investments. As no two payment companies are the same, each has its own individual big data challenges, business goals and opportunities.”

At Sibos, Lerner and the panel will discuss the different obstacles firms are facing including how to extract value from the vast amount of data, data security and how to drive analytics adoption.

To help payment companies overcome these challenges, the panel will also address the keys to a successful big data project: establishing a new level of collaboration between business and IT, mastering a rapidly changing data and technology landscape.

Potential topics include new data types, emerging technologies such as Hadoop, data discovery and visualization techniques, and identifying new talent that have the highly specialised skills to operate in this area.

As payment companies move through their analytics journey and apply big data, they will uncover hidden patterns and differentiated insights from the data that can drive revenue and create a competitive advantage.