The Future of Competitive Advantage in Banking and Payments | Part 1 | Bottomline

Mike, founder of Northey Point and the former CEO of Bacs Payment Schemes Limited. He has an established reputation as a thought leader in payments innovation, real time infrastructure and regulatory change within financial services. After spending decades leading innovation across UK and European payments, Mike continues to apply deep levels of insight into many of the most pressing issues facing the payments industry. 

In the most recent report – The Future of Competitive Advantage in Banking and Payments – which Bottomline have led on a global basis, Mike explores findings from over 500 senior payments professionals from banks, FIs and fintechs. In exploring the findings the report found that legacy infrastructure is a huge barrier to adoption of real time payments (30% of 500 participants even consider it is a dreaded barrier!) and in terms of compliance to changing mandates – 93% of participants are concerned they will not meet requirements.

At the heart of this really is ISO 20022 – it represents a transformational touchpoint shifting thinking at every link in the payments value chain. With the SWIFT November 2025 date looming, Mike is indicating its the time for the industry to move on from strategy to execution, particularly around end to end readiness/enrichment of data and other operational aspects.

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