Agenda
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4PM BSTVARIABLE RECURRING PAYMENTS – THE GAMECHANGER?
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4:10PM BSTWHY REGULATORS ARE PUSHING FOR VRPS & SWEEPING?
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4:30PM BSTVRPS & SWEEPING: TOWARDS A MORE CUSTOMER-CENTRIC WAY OF PAYING?
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4:50PM BST FIRESIDE CHAT
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5:00PM BSTA FINAL WORD FROM HELEN
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* All times are in BST / UTC+1. This is a provisional programme and subject to change.
Now that the CMA has mandated the UK’s nine largest banks to implement Variable Recurring Payments (VRPs) for sweeping, Customers will be entitled to make automatic transfers of money between accounts using Open banking. This regulatory move made by the CMA and OBIE can be a real game-changer.
But what does VRPs for sweeping mean for innovation and competition? Would VRPs-powered user-cases be likely to become the new constant over the next year? Has it gone far enough?
Host
Oliver Smith – Managing Editor at AltFi
Speakers
- Jim Wadsworth, Open Banking Lead at Mastercard
- Alan Ainsworth, Head of Policy at OBIE
- Duncan Barrigan, Chief Product Officer at GoCardless
- Lars Truin, Head of Product at Wise
- Dan Scholey, COO at MoneyHub
- Kat Cloud, UK Policy Lead at Plaid
- Stephen Wright, Regulation & Standards Lead Bank of APIs at Natwest
Agenda
Why regulators are pushing for VRPs & sweeping?
On July 28 the CMA has decided, in line with the OBIE Trustee’s recommendations, to mandate Variable Recurring Payments (VRPs) as the mechanism for implementing sweeping. But what does this mean for innovation and competition? How are the potential benefits and risks for consumers?
Speakers
- Alan Ainsworth, Head of Policy at OBIE
- Stephen Wright, Regulation & Standards Lead Bank of APIs at Natwest
- Kat Cloud, UK Policy Lead at Plaid
VRPs & Sweeping: Towards a more customer-centric way of paying?
Out of the myriad user-cases for VRPs, two stand-out benefits include savings and borrowing advantages for consumers and SMEs. Will VRPs be able to replace other payment methods such as Direct Debit and Card Payments? What user-cases are emerging or will become ubiquitous in future?
Speakers
- Duncan Barrigan, Chief Product Officer at GoCardless
- Lars Truin, Head of Product at Wise
- Dan Scholey, COO at MoneyHub
Fireside Chat with
- Jim Wadsworth – Open Banking Lead at Mastercard
A final word from Helen
All meeting participants are reminded that this meeting must adhere to competition law rules and, as such, no confidential or commercially sensitive information should be shared directly or indirectly between competitors.
Helen Child, Founder & CEO, Open Banking Excellence