Discussions during Swift's annual Sibos conference in Geneva were dominated by talk of open banking and open APIs, which create both opportunities and challenges for banks. This is the first of five key takeaways from the event explored in Finextra's review of Sibos 2016, produced in association with SAP, and published today. It was clear from Finextra's interviews with industry leaders during the event as well as from the discussions on the main stages of the conference that banks increasingly understand open banking, underpinned by open APIs, is an opportunity for them. However, as the new report details, it was also clear that banks face a challenge in ensuring their systems can handle open APIs. Open banking will be a spur to further collaboration between banks and fintechs – as will a number of other key drivers shaping the industry currently, as the report examines.