Europe's Leapfrog : Opening up payment

23 April 2013

Regulators in Europe are preparing legislation which makes it easier for new, non-bank payment service providers to access regular bank accounts of buyers.

Therefore API and e-identity technology are likely to be the way forward. In this scenario banks will open up in an unprecedented way for the financial services industry. It is expected to have serious implications for incumbent payment providers and towards new online and mobile services. 

Michael Salmony, Advisor to the board of Equens, will give his perspective on this breakthrough development. Takeaways include:

1. What is the new open (but controlled) access to the bank account?
2. What can be learned from other industries which opened up as well?
3. What are the boundary conditions to make this a success?
4. How will the market grow as a result?
5. Strategic implications for the payment landscape

Michael’s session will be on 7 June. He represents the German and international banking communities at major European organisations especially on payment innovations. He has spoken and published on how new technologies are transforming financial services. Previously he was Germany's Director of Market Development Media and Communications technologies at IBM.


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