IBM Promotes Real-Time Payments and Data Sovereignty

IBM is emphasizing the importance of real-time payments and data sovereignty in the digital economy. In an interview, IBM highlighted the need for faster payment processing times, citing the example of China's Alipay, which has achieved real-time payments with a success rate of over 99%. According to IBM, this level of speed and efficiency can be replicated elsewhere.

IBM also stressed the significance of data sovereignty, or the ability to control one's own data. The company cited a survey that found 85% of consumers are concerned about their personal data being shared without consent. To address these concerns, IBM is advocating for greater transparency and control over data collection and usage.

The interview with IBM also touched on the topic of Open Banking, which aims to provide secure access to financial services through APIs. IBM believes that Open Banking can help reduce transaction times and increase customer satisfaction.