PayExpo Europe 2018

8-9 October 2019
Business Design Centre, London

Interview - Richard Peers, Microsoft

Interview - Richard Peers, Microsoft

About Richard

Richard Peers, Microsoft, Speaker at PayExpo EuropeRichard Peers leads Microsoft’s WW Industry team for Retail/Private and Wealth Banking. He has spent the last 20 years at Microsoft in sales, services and marketing leadership, with the last five years deeply engaged with clients, Fintech’s and partners in Financial Services. Working on projects and engaging with leadership teams he brings an up to the minute insight on the vision and the practicalities of “Digital Banking”.

In 2017 he contributed a chapter to the “Wealth Tech Book” following on from the “Fintech Book” on the API economy and the impact of PSD2 and Fintech’s on Banking in 2016.

A new whitepaper in 2017 on Open Banking based on deep engagements with clients, delivers practical insights on how to deliver this vision.

Richard chairs Microsoft and Industry Banking events in Retail/Private and Wealth and has contributed to regulatory meetings such as the FSB meeting on fintech.

How do you see companies coping and progressing with new regulations in 2018?

It depends on the size of the organisation to a certain extent.  We have been conducting research with EFMA that will be released in the autumn but the indications are large banks are usually technically prepared to be compliant on regulation such as PSD2.  But they are not always ready to look at the business potential until the last minute.  Smaller banks vary from very innovative plans to be compliant and exploit the opportunities but many are just not able to cope and look to pooling resources. 



Microsoft 500


Upcoming regulations have started a banking revolution. Thoughts?

I think its more than regulation, it’s a nexus of forces that are creating a revolution.  A change in customer expectations, cost drivers, cybersecurity threats,  interest rates,  competition from Fintech’s but also the intrusion of the ecommerce giants is putting as much pressure on for change as regulation. 

What are your views on Artificial Intelligence within a seamless API journey?

If you look at my previous answer then we have to have to be thoughtful on how AI can assist but still retain the human touch and more importantly allow humans to move to a higher order problem.  I can certainly see how  my personal digital assistant could invoke a BOT to do something on my behalf, perhaps all prompted by some smart AI infused insights, and then smooth the path for security, identity, credit checks etc and then assist with actions and insights that follow.


How do you think PSD2 and Open Banking will affect start-up companies?

I think it’s a great opportunity.  We have gone from a dialogue of Fintech’s being the enemy, to partners and now we are moving to real partnership via marketplaces.  As banks curate their own marketplace of Fintechs  there will some great new opportunities for all.

  • Whenever PayExpo Europe comes up, it goes straight into the diary – no question
    Dean Fiveash
    Vice President, Barclays
  • PayExpo Europe gives you a better understanding of the payments industry.
    Brian Donnelly
    Managing Director, Accenture
  • As a vendor, the event is one of the key places to be seen
    Phil Campbell
    Founder, Kerv Wearables
  • The show is a key date in the industry calendar
    Chris Jacklin
    Managing Direcotr, Nvayo Limited
  • I loved it. I am new to the job and it has given me great insight. A great experience, I am keen to come again.
    Robert Ratcliffe
    Payments Project Manager, Argos
  • PayExpo Europe provides great opportunities to meet new customers and do business.
    Lee Russell
    Senior Director – Prepaid, Mastercard
  • The show’s education sessions are truly mind expanding. It teaches you things you won’t find elsewhere.
    Kevin Chang
    Investment Analyst, Santander
  • This is my first time at PayExpo Europe and I would certainly recommend attending. It has given me a better understanding of the payments and FinTech industry.
    Anthony Clegg
    Commercial Cards Account Director, Royal Bank of Scotland


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