Insights Podcast
Payment Innovations, Shaping the Future of Finance
Feb 29, 2024
Industry veterans discuss regulatory changes, technological impact on banking, future of open banking. Insights on variable recurring payments, challenges of consumer protection, and innovation within the payments industry. Exploring account-to-account payments, risks and rewards of innovation, and the evolving role of lending in revenue generation.
29:33
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Quick takeaways
- Regulatory changes impact traditional banking models, shifting towards open banking and variable recurring payments.
- Transition to variable recurring payments requires robust commercial models and consumer protections for efficiency and fraud prevention.
Deep dives
Overview of Industry Changes and Regulations
The podcast discusses the significant changes and regulatory developments in the payments industry, focusing on J-Rocs findings, the future payments report, and PSR's proposals regarding variable recurring payments. The conversation highlights the industry's busiest period of change and the evolving gap between regulatory advocacy and industry perspectives, particularly on commercial aspects and consumer value.
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