new payments architecture

Paul Thomalla, Head of Industry & Regulatory Affairs, Finastra; and Craig Wellman, Managing Director Financial Services, Microsoft

The number of banking payments in the UK processed via the current Faster Payments regime grew from 2020 to 2021 by 3.6 billion and this is a figure that is only going to grow. The replacement scheme, the New Payments Architecture should be in place in 2024. What do banks and other institutions need to know and need to be doing now? Robin Amlôt of IBS Intelligence speaks to Paul Thomalla (pictured), Head of Industry & Regulatory Affairs, Finastra, and Craig Wellman, Managing Director Financial Services, Microsoft.

What’s covered in this episode:

• What is NPA?
• Concept v Reality: Where are we now?
• Why should it matter to banks, businesses and consumers?
• What is ISO20022 and what does it mean for the UK Banking and Payments Industry?
• The many uses cases of NPA and ISO20022
• The benefits of standards