Julian Farley, Sales Director UK & Europe, BPC
with Julian Farley, Sales Director UK and Europe, BPC
Julian Farley discusses the importance of Pay360 as a leading UK payments event that is increasingly attracting European interest. For BPC, the event provides an opportunity to showcase its capabilities, engage with clients and understand the direction of travel across banks and fintechs.
A central theme in Julian’s discussion is transformation. He highlights that while many banks are on multi-year transformation journeys, the target state is constantly shifting due to rapid developments such as AI, agentic commerce and digital wallets. This creates a moving landscape where institutions must adapt continuously.
On digital wallets, Julian raises the question of ownership and trust. While technology providers such as Apple and Google already dominate the space, it remains unclear whether banks can or should compete directly, or whether the future lies in super apps that consolidate services into a single experience.
He also explores agentic AI, noting that while the concept is promising, trust remains a major barrier. Consumers may be comfortable allowing AI to make small purchases, but larger financial decisions require significantly more confidence and control.
Julian concludes by emphasising collaboration as essential to the payments ecosystem. Even organisations offering end-to-end solutions must rely on partners, as specialisation drives innovation and industry progress.
Paul Horlock, Chief Payments Officer, Santander
with Paul Horlock, Chief Payments Officer, Santander
Paul Horlock provides a strategic view of the UK payments landscape, focusing on the National Payments Vision and the need to translate ambition into practical outcomes for consumers and businesses.
He highlights that while payments systems already work well for most users, resilience is critical. The potential failure of a major card network illustrates the need for alternative payment rails. Account-to-account payments are positioned as a key solution, offering both resilience and consumer choice.
Paul also addresses the growing issue of fraud, particularly in online marketplaces. He outlines how current systems separate payment from transaction, creating vulnerabilities. Emerging solutions such as tokenised deposits and conditional payments aim to reconnect these elements, improving security and trust.
On AI, Paul identifies fraud prevention as a primary use case. AI enables more effective detection and intervention, allowing banks to focus human effort where it matters most. However, he also raises concerns about agentic commerce, particularly around liability and control.
Ultimately, Paul describes the payments industry as both exciting and challenging. While innovation is accelerating, the core customer needs remain unchanged: security, transparency and reliability.
Claire Gates, Global Head of Payments and Solutions, Crown Agents Bank
with Claire Gates, Global Head of Payments and Solutions, Crown Agents Bank
Claire Gates explores the rapid growth of digital wallets, noting that there are now billions of users globally. She explains the wallet ecosystem as comprising three layers: the customer interface, the orchestration layer that determines how payments are processed, and the underlying infrastructure.
She highlights the significant role wallets play in emerging markets, particularly in driving financial inclusion. In regions where traditional banking infrastructure is limited, mobile wallets enable users to access financial services and even identity solutions.
Claire emphasises that wallets are becoming increasingly powerful as they collect data and shape user experiences. However, she does not see a need for global standardisation, provided systems remain interoperable and regulated within their respective regions.
On AI, Claire believes existing infrastructure can support new capabilities through orchestration layers. She identifies key use cases in compliance, transaction monitoring and cross-border payments, where AI can improve efficiency and reduce costs.
She expects rapid adoption, with early adopters gaining a significant competitive advantage.
Simon Eacott, Head of Payments, NatWest
with Simon Eacott, Head of Payments, Natwest
Simon Eacott discusses the vision for seamless cross-border payments, describing an ideal scenario where international transactions feel as simple as domestic ones. While progress has been made, complexity remains due to differing regulations, systems and stakeholders.
He stresses the importance of balancing speed with security. Faster payments improve customer experience but also increase fraud risk, requiring carefully designed safeguards.
Simon highlights the evolving role of partnerships in the payments ecosystem. Banks, fintechs and providers must collaborate, often shifting between competitor, partner and customer roles depending on the context.
On agentic AI, Simon sees potential across internal operations and customer interactions, but believes widespread adoption is still some way off. Trust, security and liability must be addressed before it becomes mainstream.
Looking ahead, he expects a hybrid model where both human-initiated and machine-initiated payments coexist, particularly for predictable, low-value transactions.
Anna Stoianova, Head of Digital Product, Nordea
with Anna Stoianova, Head of Digital Product (Money Transfers), Nordea
Anna Stoianova reflects on the influence of super apps in Asia and their potential impact in Europe. While she believes the exact model cannot be replicated, there is significant opportunity to adapt elements that enhance customer engagement.
She emphasises that banks still hold a unique position of trust and responsibility, particularly in managing money. Rather than becoming invisible infrastructure, banks should focus on strengthening customer relationships through relevant services and partnerships.
Anna also discusses embedded finance, suggesting that banks can extend beyond traditional services by integrating non-financial features that align with customer needs. Examples include tax information, subscription management and personalised financial insights.
On AI, she highlights its role in data analysis and personalisation, helping customers optimise their financial behaviour. However, she stresses that trust remains a critical factor, particularly for agentic AI.
Anna concludes that while AI will play an increasing role, humans will remain in control, with technology acting as an enabler rather than a replacement.
Francis Gorman, Principal Security Architect, Bank of Ireland
with Francis Gorman, Principal Security Architect, Bank of Ireland
Francis Gorman addresses the emerging threat of quantum computing and its implications for payment security. He explains that current cryptographic systems underpinning financial infrastructure could become vulnerable, making early preparation essential.
He warns that without action, core elements such as trust, authentication and confidentiality could be compromised. Transitioning to post-quantum cryptography will require significant planning and investment, with timelines already being defined by regulatory bodies.
While AI dominates current discussions, Francis cautions that quantum risk is a slower but equally critical challenge that requires immediate attention.
On AI, he raises concerns about security architecture and data governance. Many systems are being deployed rapidly without sufficient safeguards, increasing exposure to risk.
He also highlights concentration risk within the AI ecosystem, where a small number of providers underpin a large proportion of services. This reduces visibility and control over data, creating additional challenges for organisations.
Francis concludes by emphasising the need for awareness, preparation and robust security design to ensure the resilience of future payment systems.
Key Takeaways
Across all conversations, several consistent themes emerge:
- Trust remains central to all payment innovation
- AI is advancing rapidly, but requires strong governance and safeguards
- Digital wallets and embedded finance are reshaping customer experience
- Collaboration is essential across the ecosystem
- Resilience and security, including quantum readiness, are becoming critical priorities
Together, these insights highlight an industry that is evolving quickly, while remaining grounded in the fundamental needs of customers.
