Let's

talk a little bit about what open banking in the u k. Can actually do. As the o b i e nears the end of the implementation phase, one of the features they've recently added is variable recurring payments, or vr ps. What are vr ps? And for that matter, what other kinds of new features are being considered?

Isn't it interesting that we use these acrenyms? We use the acranyms with infinte. We certainly use them with open banking. And i must odmit, it did take me a few weeks to sit there and try to work out the different acrenums of stood for what. And then if you were trying to explain it to what i call the ais the man on the street, or the man and woman on the street, if i'm big diverse, what does that mean to them as well? And i don't think anyone would really understand what a variable recurring payment means, if you asked anybody. So i think we have to get better at taking out the jargon out of open banking as much as anything else. But effectually, it is a smart direct debbit. Now in the row map is is v ps for sweeping. So what that's going mean as you can sweep from your own account into another one of your main accounts. She might be doing that into a sanes account, for example. So that's incredibly important, is putting the technology in that allows you to sweep those accounts as and when you see fit, think of it as a smart direct debot. Think of it as something where you can choose when it ends. You can choose what the length of time is. How many people have been caught out by setting up at debot and then forgetting about it and then not stopping it in time? And that's really what vopes are. The initial phase of that, which is in the road map, is the sweeping viopes. So setting up the technology there. It's not in the road map at the moment to have vopes for for a wider set, but that's something that wouldn't surprise me that industry takes forward. So we're there to implement that technology and set the standards for viopes for sweeping, and then hopefully th a lot the industry will push forward on what as the premium apis needed for vr ps. And that, again, comes back to what the consumer needs. What does consumer want? As you will know in financial services, a lot of people can get quite frustrated whith their financial services journey, but they don't really think about the fact they can change it, becauseit's just too difficult to change it. And vr p is just one of these that as sets the standard for can come next, as much as anything. And i think that's really, really important. It's a pain journey for people when they 're sitting there looking at, said, those smart direct debots, and how can they take more control of financial services? And i'm really happy that we have got that into the road. Mat a, the extension of the road bap, to take that forward. They w'll allow us then, to set the foundation for whatever comes next.