sibos 2023 toronto

Shine a light on what’s next.

Sibos brings together financial industry leaders, and Bank of America is proud to be part of the conversation.


Brian Moynihan

Sibos 2023 Toronto Keynote Speaker

Monday, September 18 @ 11:00-11:45am ET

Brian Moynihan, Chair of the Board and CEO of Bank of America, will be the opening keynote speaker for Sibos 2023 Toronto.


Bank of America at Sibos

Sibos 2023 Toronto

“For more than four decades, the banking and payments industry has gathered at Sibos to discuss new ideas, partnerships, and break-through innovations. It’s a rich legacy that has benefitted the transaction banking industry, our clients and supported sustained economic development. We are proud to join the Swift community once more in Toronto to advance greater efficiency, digital, inclusivity and resilience in global payments and treasury operations. We look forward to seeing you all there”

Christian Stolcke | Head of Global Financial Institutions, NBFIs and Governments, Global Transaction Services

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Featured sessions

Matthew Davies

Raghu Srinivasan

Managing Director, Treasury Product Executive Global Head FI Clearing, Global Transaction Services


Monday, September 18 @ 10:00-10:45am ET

Taking ISO 20022 and transaction management to the next level

The cross-border payment ISO 20022 revolution is well underway, with over 30% of transactions already sent with rich, structured data. At the same time, the paradigm shift from point-to-point messaging to end-to-end transaction management is gaining momentum. Together these are already bringing the Swift community closer to the vision of instant and frictionless transactions, account to account, anywhere in the world. But how do we keep this momentum and make sure we’re developing for the cross-border payments experience of the future? Join us in this session to learn more about what’s coming next, and how the community can continue to leverage the foundations laid by Swift’s enhanced platform.

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Raghu Srinivasan is part of Global Transaction Services at Bank of America and is the Global Head of the FI Clearing products. Additionally, he oversees the Bank’s strategic relationship with SWIFT. He is the chair of the CHIPS business committee at The Clearing House, Secretary for the SWIFT USNG and member of the Payments Market Practice Group – a SWIFT Advisory Group.


Previously Raghu led the US and EMEA cash management payment processes handling wire & ACH transactions valued greater than $1.4 Trillion per day. He also led the development of the strategy and establishment of the Bank’s Sanctions Screening Center of excellence – a scalable enterprise shared service to monitor compliance of customer relationships and day-to-day transactions with Bank’s global economic sanctions program. In addition, he supported the end-to-end payment business through business risk management control roles, establishment of processes to demonstrate compliance with global regulations and served as liaison on corporate audit / global regulatory reviews.


Raghu joined Bank of America in 2004, in Corporate Audit and led audits across multiple business units covering Card Services, Global Markets, Wealth Management, Staffing support and Global Development Centers of Excellence. Subsequently, Raghu, led the turnaround of the Bank of America Merchant Services operations and in 2009, led the operations in the due diligence and formation of Bank of America Merchant Services (JV).


Immediately before joining the Bank, Raghu worked as a senior associate within Corporate Audit of American Express. Earlier in his career, Raghu held roles with progressively increasing responsibilities in software development, data architecture and project management for varying clients.


In the past, Raghu held certifications as Anti Money Laundering Specialist, Internal Auditor, and Information Systems Auditor. Raghu graduated from Madura College, India with a degree in Computer Science, and from Thunderbird with an MBA in International Management.

AJ McCray

AJ McCray

Managing Director, Head of Global Payments, Global Transaction Services


Tuesday, September 19 @ 9:30-10:15am ET

Looking to maximise ROI in ISO 20022? Extend benefits to corporates

The industry has already made investments in rich data with ISO 20022. Now discover how banks can grow their business and reap the benefits completely. Come and find out concrete examples in corporate treasury, frictionless payments, digital trade, KYC, and e-BAM. We will discuss how banks can offer enhanced cash management and richer data services to their corporates.

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AJ McCray is managing director and head of Global Payments in the Global Transaction Services business. In this role, AJ oversees the strategy, product development and platform management for payments globally. The payment types include real-time payments, ACH and other low value payment schemes, wire, check, and emerging payments. AJ also manages the transactional foreign exchange suite of products. His team’s responsibility extends to designing risk mitigation and fraud prevention strategies for payments. The client segments served by these solutions include multinationals, large corporates, financial institutions, and small to medium sized enterprises.


McCray has assumed increasing responsibility in the GTS business since joining Bank of America in 2017. Previously, he worked at JP Morgan for 12 years, most recently as the CFO for the Treasury Services business. During his tenure, he was the business manager for payments products and led the Treasury Services strategy for financial institutions clients. He began his career at First Manhattan Consulting Group as a consultant specialized in retail banking and brokerage.


McCray has a BA in Applied Mathematics and Economics from Harvard College. He is an avid racquet sports player. He lives in Manhattan, NY, with his family. 

Matthew Davies

Tom Durkin

Managing Director ,Global Product Head of CashPro , Global Transaction Services


Wednesday, September 20 @ 9:00-9:45am ET

How can financial institutions drive more value to corporates

With the introduction of ISO 20022 and transaction management, banks are in a better position than ever to deliver new rich capabilities fully embedded into their customer channels. The combination of a unique payment acquisition standard, upfront data quality checks and embedded value-added capabilities will accelerate the time to market of new ISO 20022-rich propositions for banks globally. In this session, a panel of experts will look at what opportunities this opens up for banks and corporates, and shed light on the future of cash management services in the next two years.

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Tom Durkin leads the product management team for CashPro®, an award-winning banking platform that provides digital capabilities in transaction banking across payments, liquidity, foreign exchange, and trade and supply chain finance. The platform has enhanced data & servicing capabilities with an increasing focus on personalization. Available through multiple channels such as the mobile app, API, online and bank-to-client connectivity, CashPro supports 40,000 clients and 540,000 users around the world and regularly sets new records in terms of value and volumes of payments processed. In 2022, the platform processed $32 trillion in payment value while the mobile app saw $650 billion in payment approvals.


Durkin chairs the CashPro client advisory boards that were created to represent all client segments that use the platform including financial institutions, multinationals, commercial and small to medium sized enterprises.


Under Durkin’s leadership, CashPro has received recognition from several third parties, most recently:

  • Impact Innovation Award for Product Development 2022 – CashPro Forecasting, Aite-Novarica Group
  • Best Mobile Technology Solution for Treasury 2022 – CashPro QR Sign-In, Treasury Management International
  • Celent Model Bank 2022 Award for Corporate Digital Banking, Celent
  • Best Mobile Cash Management Software 2022 – CashPro App, Global Finance magazine
  • Best Cash Management Project for 2022 for CashPro Forecasting, The Asian Banker


Durkin is an active member of the SWIFT community and is the bank’s representative on the SWIFT Corporate Advisory Group. He is a regular contributor at industry forums such as Sibos, AFP and EuroFinance, speaking on topics such as open banking, cybersecurity, digital technology trends, global payments standards and ISO XML.


Prior to joining Bank of America in 2007, Durkin worked at ABN AMRO North America for 16 years in a variety of roles within transaction banking including product management, client advisory, solution management and global implementation. Durkin has been a Certified Treasury Professional since 2000.

Christian Stolcke

Christian Stolcke

Head of Global Financial Institutions, NBFIs and Governments, Global Transaction Services


Wednesday, September 20 @ 10:30-11:15am ET

The future of financial services depends on global connectivity

In a rapidly globalising world with ongoing geopolitical tensions and ever-accelerating technological change, everyone is forced to adapt, financial services included. The headwinds of change have also served as a catalyst for new models and new forms of money to come to the fore. But new waves of digitisation across the global payments industry will only be able to achieve scale if we focus on interoperability. Innovating with a global mindset naturally introduces the importance of interconnectivity and inclusivity. How can we collaboratively reach an inclusive and seamlessly connected global financial ecosystem? Join us to find out.

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Christian Stolcke is a Capital Markets and Transaction Banking veteran who has spent his career growing service businesses and executing large scale performance improvement programs across Shared Services, Operations and Technology.


At Bank of America, Christian is managing director and head of Global Financial Institutions, Non-Bank Financial Institutions and Governments within Global Transaction Services (GTS). In this role, Christian leads a worldwide team of sales and product professionals responsible for maintaining and strengthening relationships with clients across several industries, including banks, governments, investment managers, securities firms, insurance, fintechs and specialty finance companies. Products span global cash management, trade and supply chain finance, commercial card, balance and investment solutions.


Prior to joining Bank of America in 2022, Christian spent 16 years at UBS where he held a dual role as global head of Banks and head of Corporate Subsidiary Banking in the Americas, both within the Corporate and Institutional Client Business.

During his tenure, he also led a series of programs (ex., global restructuring, divestiture, reengineering, and regulatory) that assisted the bank to achieve its post-crisis turnaround, efficiency targets and leadership position.


Previously, Christian was at JP Morgan Chase & Co where he held leadership roles in Corporate Center Finance, Shared Services Reengineering, Retail Channel Strategy and Technology & Infrastructure.


Prior to banking, Christian worked at EDS CoNext, an EDS/AT Kearney startup and strategic sourcing consortium where he was vice president for Product and Client Management. At the management consultancy AT Kearney, he was a principal in the Global Operations and Financial Institutions Group where he contributed to

the launch and expansion of the firm’s Latin American franchise.


For many years, Christian has been deeply engaged with BAFT, the Bankers Association for Finance and Trade, at both board and execution level.


He has an undergraduate degree in Business and Information Technology from the University of Mannheim and an MBA in Finance and International Management from the Zicklin School of Business, Baruch College, NY. He is based in New York.

Allison Shonerd

Allison Shonerd

Head of Global Digital Disbursements, Global Transaction Services


Thursday, September 21 @ 9:30-10:30am ET

Reimagining cross-border retail payments in a crowded market: Time to partner or to battle

Cross-border retail payments are growing fast, and with it comes market fragmentation. Consumers and small businesses have a lot of choice, so providers need to think strategically and have a unique value proposition if they want to stand out. Are international retail payments a commodity or an experience? How important are pricing and FX competitiveness? Do banks still have an advantage in terms of trust and security? In an ecosystem where banks, fintechs, market infrastructures, card schemes and tech players are all putting skin in the game, new possibilities are fast opening up. With new business models and partnerships already driving innovation in this space, we’ll look at whether now is the time to partner or battle.

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Allison Shonerd is head of Global Digital Disbursements in the Global Payments organization of Global Transaction Services (GTS) at Bank of America.


Global Digital Disbursements is an emerging payment solution enabling Business to Consumer (B2C) payments via mobile phone and email, focusing on digital wallet and alias-based payment systems.  Digital Disbursements allows corporate clients to send funds to individuals with greater speed and ease. In her role, Allison oversees the product development roadmap and vision, working with cross-functional partners to bring innovative payment solutions to market driven by client needs.


With over 15 years of experience in global payments, Allison held various product and network management positions with Western Union, PayPal and fintech Hyperwallet prior to her joining Bank of America in 2019. 


Allison received her BA from the College of William & Mary. She currently resides in New York, NY.

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