Julian Sawyer, Starling Bank: “Innovation will be driven by organisations focusing on customer needs”

EPS Speaker Spotlight

During this year’s edition of the European Payment Summit (EPS), Julian Sawyer, COO and Co-Founder of Starling Bank, will be joining the on-stage discussions on current industry developments, the changing dynamics of payments/ transactions and what threats and opportunities new business models present for the industry:

What are the key points that you will be discussing at the upcoming EPS edition?

Julian Sawyer: The world of payments is changing.  Payments can be and should be a classed as a utility, which means they should be provided by another organisation consistently, reliably and securely.  Starling’s Banking Services division provides Payments as a Service, thereby changing the way payments are consumed and providing new opportunities for exciting new business models.

At the European Payments Summit we will explore some of these new business models, together with the threats and opportunities Payments as a Service present for the rest of the industry.

In your opinion, what are the key elements driving digital transformation in Europe?

JS: Customer demand and rapid / powerful execution led by new challengers.  Customers are seeing a fundamental change in their banking experience led by banking technology companies like Starling.  With no legacy, better technology platforms and different ways of working enable a new generation of customer centric technology solutions.

Regulation – do you consider it an impediment or a key factor towards innovation?

JS: I think innovation will always be driven by organisations focusing on customer needs and demands.  Regulation will not lead this drive, but hopefully will continue to support it.

From your perspective, what is the impact of PSD2 on challenger banks and FinTech companies?

JS: PSD2 provides opportunities for innovative products and solutions.  Over time, I’m sure we will see some ‘killer’ applications that change the way people manage their money, although outside of the financial services industry, this is not really a hot topic.

Some industry voices argue that PSD2 and the Open Banking initiative are yet to have a serious impact on the UK‘s banking and payments sector. What are your thoughts on this?

JS: Innovation doesn’t often come from regulation. At Starling, we have developed a comprehensive set of APIs for the past two years. We already have a number of partners who consume these and provide a better product or service for our joint customers.  These shifts in customer behaviour and trust take time – we are still at the Innovator stage of product maturity.

 

At present we are confronted with massive innovative ideas and products. The fragmentation on payment solutions is quite a challenge for customers. We feel that the next move will be a consolidation and rationalization of payment solutions. Alignments in services and schemes, offered. Cooperation will become the keyword as sustainable solutions that really add value to customers will prevail.

At EPS we focus on more collaborative initiatives and we look for key trends / solutions that are really best in class and secure a profitable and meaningful addition to the financial services industry and beyond. Join EPS 2019 and learn, network and enjoy one of Europe’s best expert meeting!

  • @EuroPaySummit

    European Pymt Summit European Pymt Summit @EuroPaySummit "The most striking thing we found during our attendance at the #europeanpaymentsummit was the fact that regulatory… https://t.co/FxCSh0XvLs 7 days ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @PaymentCounsel: Money 2020: World FinTech Report 2019 #OpenBanking has yet to reach maturity, according to #WFTR2019. The financial se… 1 week ago
    European Pymt Summit European Pymt Summit @EuroPaySummit PayU acquires Turkish startup @iyzico_com #digitalpayments #fintech https://t.co/GCBAUcaNvC 1 week ago
    European Pymt Summit European Pymt Summit @EuroPaySummit EU to Increase Access to High-Quality Data for #Blockchain, #AI Projects https://t.co/ROfiA7X6hR via @cointelegraph 2 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @KYC_Ltd: #ThrowbackThursday to our win as "Best RegTech Provider" in the #FlorinAwards at the @EuroPaySummit! On our blog, we take a cl… 2 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @PaymentCounsel: Whitepaper: One year after #PSD2 What has happened since PSD2 and #GDPR were introduced, and why financial services fi… 2 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit Always a pleasure to catch up with leading minds in #fintech during our #europeanpaymentsummit editions. @dgwbirch,… https://t.co/uIKHUrZJrT 2 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @PaymentCounsel: Consumers are wary of #bankingtechnology Rate of consumers adoption of latest #banking technology does not necessarily… 3 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @PaymentCounsel: 'Open Banking and Innovation: Let's Not Wait for PSD3!' Read my new article on the Payments Guru website: https://t.co 3 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @CurrencyResearc: Standardization of data is the basis of success for (SWIFT, Visa, Mastercard). Standardization is critical for moderni… 5 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @Finextra: Company announcement: HKMA grants four more virtual banking licences https://t.co/kphM1HMOgh #fintech 6 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @ccgroup: #ConciseComments: Facebook selects London as the hub to build WhatsApp's mobile payment feature via https://t.co/zdN7HSuSpx 6 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @KYC_Ltd: The central topic at the @EuroPaySummit last month was without a doubt #PSD2 & its #SCA requirements. On our blog, we take a c… 6 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @ccgroup: Our head of #fintech @prmonkeyman visited The Hague last week for the @EuroPaySummit and he has written about the key topics c… 7 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @PaymentCounsel: #Fintech firms form association to fight #PSD2 corner The European Third-Party Provider Association (#ETPPA) formalise… 7 weeks ago
    European Pymt Summit European Pymt Summit @EuroPaySummit RT @AToucinho: Découvrez mon dernier article : A La Haye, aux Pays-Bas, l’Europe des paiements se conjugue avec l’international https://t.c 7 weeks ago
  • Also interesting
    Alignment of Real-Time Payments Across International Borders
    Written on 22 April '19 by
    READ MORE
    Meet the Florin Awards Europe 2019 Nominees
    Written on 17 April '19 by
    READ MORE
    David Birch, Consult Hyperion: "We need national strategies to manage the transition to cashlessness"
    Written on 16 April '19 by
    READ MORE
  • News