Transparency and Responsibility in Banking

300 years of the Market and Milestones In 1717, the Bank of England introduced the first pre printed cheque – a trend copied by all banks In 1950 Diners Club invented “card payments” In 1970 SWIFT was established In 1994 E-commerce was invented From 2000 online banking emerged From 2010 self service arrived, Challenge Banks emerged and the word Fintech became mainstream

Market Suppliers and Customers Many regulated businesses seek to use or access key payments rails, national payments infrastructure and various card schemes to deepen their service offerings They inherit legacy platforms, service friction and operational inefficiencies, with operational irritation being passed down to their customers All customers now expect competitive service choice instantly

Our Market is in Flux Three key areas of change, already in flight Transactional banking and /or Financial services Realtime is not next day (later, lost or fotgotten) PSD2/Open Banking “may” provide opportunities but does not guarantee business success, nor customer happiness

Services Focus - the “Google” effect Transactional Banking evolution Legacy Platform 24 x 7 x 365 RTGS Cloud Batch Services evolution Tied services 24 x 7 x 365 RTGS Open Market Variable service delivery Financial Services

Transactional Banking ClearBank® invented a new service model Get regulated Open an account Choose your IT – ISO 20022 API White Label core banking Consume the services you require Deliver transactional efficiency and variety to your customers

Financial Services will follow suit More market choice Greater customer exposure Differentials need to be clear New market of the anonymous Deliver service efficiencies and variety to your customers

The next few years will be fascinating