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Financial technology credentials help London win Sibos bidding

London’s financial services and technology credentials help it win the bidding to host Swift's International Banking Operations Seminar (Sibos) in 2019

The world’s biggest gathering of banking and financial services industry in 2019 will take place in London, after the city won the bidding to host Sibos 2019.

The Society for Worldwide Interbank Financial Telecommunication (Swift) holds the event – Swift's International Banking Operations Seminar (Sibos) – every year, and the financial services technology industry takes a leading role at the event.

Because of London's substantial financial services sector and growing financial services IT industry, London employs more workers in financial technology than New York City or San Francisco’s Silicon Valley.

The Mayor of London, Boris Johnson, said: "As London Technology Week is currently proving, our great capital is leading the world in financial services and financial technology, offering a veritable melting pot of expertise, insight and innovation. 

"Hosting this influential gathering underlines our world-leading credentials as a booming financial and technology centre, and I am certain that, with London as the dazzling backdrop, Sibos 2019 will be a huge success."

The event will be hosted at London's ExCel conference and exhibition centre. ExCel CEO David Pegler, said: "It has been our aspiration to host Sibos for many years. The huge investment in ExCeL’s world-class event facilities, coupled with London’s new transport and hotel infrastructure, mean that we have been able to meet the criteria outlined by Swift for the very first time.”

It is over 30 years since Sibos came to the UK. Gordon Innes, CEO of London & Partners, said that, in that time, “London's financial services landscape has changed beyond recognition since then, particularly with the rapid growth of our fintech sector”.

Swift is a not-for-profit co-operative which began in 1973, with 239 banks on board from the start. Swift’s network, known as Swift FIN, sends an average of 17 million financial transaction messages between banks every day, across 209 countries. About 10,000 financial services businesses use the network. In 2010, it processed more than four billion financial transactions.

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