FIS Global’s Daniel Hurst has warned that payments transformation has fundamentally shifted in the past 18 months, with market evolution now outpacing strategic planning across the industry. Speaking at EBAday 2026, the International Line of Business Head for Enterprise Payments revealed that the sector has entered uncharted territory with no central authority controlling the direction of change.
Hurst emphasized that financial institutions now operate in an undeniable hybrid market environment where digital assets have moved to the forefront, forcing banks to completely rethink their approach to transformation. The traditional model of being transformed by external forces has given way to a more chaotic landscape where institutions must actively drive their own change amid rapid market shifts.
This development affects banks, payment processors, and financial institutions globally as they navigate competing pressures from digital assets, evolving customer demands, and accelerating technological change without clear industry-wide coordination.
FXnCO Insight
Banks and payment providers must immediately prioritize agile transformation strategies that account for digital asset integration rather than relying on outdated centralized planning models.
Source: Finextra