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.

  • PayExpo is fantastic because it has thought provoking discussions and is a great place to connect with other leaders in the industry.
    Megan Caywood
    Starling Bank
  • Very well organised, covering all the key topics with an inclusive and relevant speaker and exhibitor base.
    Helene Panzarino
    Rainmaking Colab Fintech
  • Very wide ranging and varied content with a good mix of fact and opinions, hotly debated.
    Ian Dawson
    Hays Travel Limited
  • This is both a networking event and a trade show, and should be in everyone's diary.
    Paul Love Twelves
    Open Payments Cloud
  • Had a great time across the two days, very well looked after and heard some interesting things about the industry. Look forward to returning next year!
    Jon Ellis
    Atom Bank
  • PayExpo 2018 was fantastic with a great variety in exhibitors as well as content for talks and debates. We found some very good potential partners that will help us make a major impact in the banking industry over the next few years.
    Simon Phillips
    Money Global Limited
  • I really liked the sessions and panel discussions and I am looking forward to some more presentations.
    Liisi Kirsipuu
  • I found the event very interesting and lively, I really liked the presentations in theatre 2 as I am coming from a payments area I found them very informative.
    Martynas Rajuncios
    Lietuvos Bankas


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