The future of payments will be defined by the collaboration between banks and FinTech startups, said John Lyons, head of strategy, design and change at Royal Bank of Scotland.
Charged with running RBS’s innovation agenda in the realm of payments and speaking to Tech City News from SWIFT’s Business Forum, held in London today, Lyons spoke about how the sector had always interlinked with technology.
“I think we are definitely at a point of inflexion. As the march of tech increases, the importance of tech leadership in payments is going to be much more significant,” Lyons said.
By this, he means organisations such as RBS – which he said controls approximately 30% of the UK’s payments market – will have to strengthen their technology capability from within and be able, and willing, to work closely with tech startups....