Shaping Payments Infrastructure: Smarter Build-vs-Buy Decisions | Volante Technologies, NatWest, TSB and Nationwide | The Fintech Show #156

Nihit Ahuja, Volante Technologies, Lee McNabb, NatWest, Otto Benz, Nationwide, and Delphine Emenyonu, TSB, talked about the challenges and opportunities financial institutions have in the payments ecosystem.

Ahuja said ISO 20022, instant payments, central bank digital currencies, and AI are all coming together, which makes for opportunities and challenges. Financial institutions need secure systems that can change with their individual needs, however legacy tech often gets in the way. Banks are expected to deliver scalable, secure, and regulatory-compliant payment systems that can meet both operational demands and customer expectations.

McNabb says that NatWest evaluates each case based on outcomes, whether that’s driven by regulation, customer experience, or speed to market and often lands on a hybrid approach. For instance, they might license a third-party framework but retain the ability to build custom layers on top; McNabb emphasizes the importance of extensibility and vendor alignment, not just technically but also culturally and strategically.

Benz discusses how Nationwide builds its app in-house to enable greater agility and innovation, while relying on partners for backend systems requiring performance and compliance. He notes Nationwide’s partnership with Form3 as a great example of co-investing in high-performance payments infrastructure through partnerships that still allow for innovation, even in the back office.

Emenyonu goes on to discuss how biometrics like face and fingerprint ID are being used, as well as how open banking is gaining more adoption since it lets you check your accounts instantly and move cash between banks and digital wallets without friction.