Reyes runs HSBC's global cash management business. She joined HSBC two years ago after 11 years at New York's Citigroup Inc. where she was most recently head of payments for global transaction services.

Innovation -- particularly in the mobile channel -- is the most interesting thing happening in her segment of the industry right now, Reyes says.

"While mobile banking services have been available for a while in the consumer space, the total picture regarding mobile payments has sometimes been seen as incomplete," she says. "But a combination of developments in technology, infrastructure, and a shift in attitudes is now moving the view of the mobile channel in closer alignment with the current exciting reality."

And mobile is not just a channel for small transactions anymore, according to Reyes, adding that HSBC has even transferred $427 million in one mobile payments transaction.

The pace of regulatory changes and the need for banks to ensure swift compliance as well as a seamless experience for clients is a big challenge, Reyes says. "Regulation will also bring competitive pressures as regulators establish tougher operational risk, capital and liquidity requirements -- a potential advantage to nonbank competitors."

An important change in how the payments business will be conducted in five years will be the growth in partnerships with technology vendors of all kinds, including the telecommunications sector, according to Reyes. "Telecommunications companies will need to strongly rely on collaboration from the banking sector on issues unique to our industry to grow -- and vice versa," she says.

Active in industry groups and in mentoring, Reyes was named among American Banker Magazine's "25 Women to Watch" last year and represents HSBC on the Payments Risk Committee of the Federal Reserve Bank of New York. She is also a senior sponsor of the Women's Accelerated Development Program at HSBC, which offers targeted development goals for senior female employees at the bank.

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