Temenos’ Mick Fennell Talks Payments Innovation & Cross-Border Strategy at TCF 2025

At TCF 2025, Mick Fennell, Business Line Director for Payments at Temenos shared his thoughts on the changing payments ecosystem and the opportunities and challenges it brings.

Payments are changing significantly because of regulatory changes and innovation, banks have to adjust quickly or they could be left behind. Fennell said that each financial institution is affected differently depending on who their customers are and how good they are with technology. Changes in regulatory rules, like new messaging standards and instant payments, are just the start. On top of that, there are crypto, stablecoins, and alternative payments, all of which make room for new ideas, innovation and competition. Banks have to decide where to put their energy, what to focus on, how to grow their income, and which partnerships can help them grow.

Banks and fintech companies often partner, with fintechs selling products made by banks, which helps both grow. Payments needs a community of people who agree on standards, rules, and trust and Fennell says that it takes everyone to make a payment happen. Even competitors have to work together to keep things running.

Traditional correspondent banking is changing because of super correspondents who offer one-stop APIs to make cross-border transactions faster and clearer. The G20’s 2028 goals, which are focused on making payments cheaper, faster and more accessible are helping the industry move forward. 

Along with the rise of stablecoins and the need to the connect payment infrastructures with digital assets, is pushing banks to update quickly. Fennell also believes that partnerships are most important for smaller businesses and using the correct networks and platforms can make things fairer, speed up the process, and allow them to compete with bigger, already established companies.