After Hours by RedCompass Labs: Recent Episodes
RedCompass Labs
The podcast where the best and brightest of the financial services let their hair down, unbutton their collars, and share their payment passions.
This podcast is part of the After Hours by RedCompass Labs series, where the best and brightest in the financial services industry tell what they really think about payments!
ISO 20022 is more than a new messaging standard for financial institutions; it represents a seismic change for the industry, involving 200 initiatives worldwide in over 70 countries.
Banks participating in the settlement networks have a massive workload on their shoulders.
A year into the transition, we ask: How has one of Europe's biggest banks been getting on?
In this episode of After Hours, Kjeld Herreman is joined by Wim Grosemans, Global Head of Product Management in Payments and Receivables at BNP Paribas.
Wim explains the benefits of structured ISO payments, how many corporates are banging on their door asking for rich ISO data, and whether CBPR+ messages will make investigations more efficient.
Listen below to hear how BNP Paribas is handling the transition to ISO 20022.
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
This podcast is part of the After Hours by RedCompass Labs series, where the best and brightest in the financial services industry tell what they really think about payments!
In this episode of After Hours Kjeld Herreman is joined by special guest Jessica Ramos, Head of Regulatory, Oversight, and Financial Affairs at EBA Clearing. Against the backdrop of the impending new regulations around instant payments across the EU, the pair dive into the risks posed by real-time fraud, and muse about how the industry can combat some of those risks.
In addition, Jessica discusses her work with the European Women in Payments Network (EWPN), and how the organisation is championing the voices of women in payments and fintech across the continent.
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
At RedCompass Labs we believe that there are only two types of payments – good and bad. Bad payments are transactions made to buy and sell people, to pay for child sexual exploitation, and other terrible human crimes that blight our society. Only 0.2% of human trafficking victims are ever saved, and we want to change that.
Our podcast guests are people who care and want to make a difference. As Margaret Mead said, “Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has.”
For this episode of A Few Thoughtful People podcast Jonathan Bell is joined by industry experts Steven Zinger and Rick Hamilton from PNC Bank, and Edin Hadzic from South Story Bank. Together they discuss strategies to identify and address human trafficking traces in financial data and explain how their financial institutions are putting theory into practice to find real cases of human trafficking.
Tune in to explore the significance of sourcing and implementing red flags that are not only relevant but tailored to your unique context. And uncover the transformative shift from traditional rule-based approaches to a more sophisticated persona-based, data-driven strategy.
If you enjoyed this episode, stay tuned for more content to come, and please feel free to share it with your networks.
This podcast is part of the After Hours by RedCompass Labs series, where the best and brightest in the financial services industry tell what they really think about payments!
In this episode of After Hours, we're joined by a very special guest, Ian Povey, CIO for Payments at NatWest Banking Group. This is a must-not-miss discussion, in which Ian dives into great detail on the journey NatWest has been on regarding its payments modernisation activities, explains why the bank has made the technology choices it has, and muses on the next trends in the rapidly evolving payments landscape. Enjoy!
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
At RedCompass Labs we believe that there are only two types of payments – good and bad. Bad payments are transactions made to buy and sell people, to pay for child sexual exploitation and other terrible human crimes which blight our society. Only 0.2% of human trafficking victims are ever saved, and we want to change that.
Our podcast guests are people who care and want to make a difference. As Margaret Mead said, “Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has.”
In the latest installment of our podcast A Few Thoughtful People, Jonathan Bell sits down with Karen Arrabal, Senior Financial Crimes Director at Fifth Third Bank. Together, they delve into the crucial topic of uncovering the digital footprints of criminals involved in child sexual exploitation. They explore the impact of the Covid-19 pandemic and shed light on how financial institutions can play a more active role in assisting law enforcement to effectively combat these crimes. Get ready for an insightful and thought-provoking conversation.
This podcast is part of the After Hours by RedCompass Labs series, where the best and brightest in the financial services industry tell what they really think about payments!
In this episode of After Hours recorded at The Banking Scene, our Head of Strategy Advisory, Kjeld Herreman, spent some time with the CEO of ClearBank, Charles McManus, who shares the story of ClearBank and what drives their ethos of being at the forefront of clearing and payments.
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
This podcast is part of the After Hours by RedCompass Labs series, where the best and brightest in the financial services industry tell what they really think about payments!
In this episode of After Hours recorded at The Banking Scene, our Head of Strategy Advisory Kjeld Herreman caught up with the Chief Innovation Officer of Wordline, Nicolas Kozakiewicz, for a lively debate into all things around the Digital Euro. Nicolas discusses the use cases for a Central Bank-issued digital currency, or CBDC, and what the new payments landscape could look like if/when it comes to fruition.
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
Today we are proud to introduce our new podcast series - A Few Thoughtful People.
At RedCompass Labs we believe that there are only two types of payments – good and bad. Bad payments are transactions made to buy and sell people, to pay for child sexual exploitation, and other terrible human crimes which blight our society. Only 0.2% of human trafficking victims are ever saved, we want to change that.
Our podcast guests are people who care and want to make a difference. As Margaret Mead said, “Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has.”
Listen to the very first episode of A Few Thoughtful People, where Brad Moult from ICMEC Australia joins Jonathan Bell and Silvija Krupena to talk about Online Child Sexual Exploitation.
This podcast is part of the After Hours by RedCompass Labs series, where the best and brightest in the financial services industry tell what they really think about payments!
Gregory Prince, Vice President and Director of Core Payments Products at Fifth Third Bank, joined Jonathan Bell and Kjeld Herreman from RedCompass Labs to discuss the coming changes in North America for such schemes as CBPR+, Real-Time Payments, FedNow, FedWire, and RTR. A lively discussion touched on the lessons learned about Instant Payments in Europe and the challenges of tackling financial crime.
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
When Mike and Julie decided to read the future of payments in fortune cookies, it gives some interesting predictions about the year to come. If you want to know more about how ISO 20022, instant payments, interoperability of the rails, or CBDC will unfold, click on the link to listen to the podcast.
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
RedCompass Labs' mission is to open the doors of finance to all and protect those who enter. For this episode of the After Hours podcast, Mike and Julie invited Christopher Caruana, Head of Subject Matter Expert and Product Strategy Team at Feedzai, to discuss what fighting financial crime looks like in the modern world.
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
Guy Moons, Head of Solutions Consulting for Enterprise Payment Platforms at FIS, chatted with Julie and Mike at #EBAday about the growing complexity of payments, lessons learned from many, many #paymenttransformation journeys (including explaining some fun terms like DRR and Garage Clearing) and the importance of #microservice architectures before gazing into the crystal ball regarding the future of card and #IoTpayments.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded live at EBAday 2022 in Vienna. We hope you enjoy the burble of voices that conveys the wonderful ambiance on the floor of the first face-to-face European payments event since 2019!
Michael Knetsch, Tribe Lead for Instant Payments Development at Deutsche Bank, joins Mike and Julie amidst the buzz of #EBAday in Vienna to discuss the continuing evolution of instant payments, including the lessons we continue to learn from #SEPA, the potential of instant payments for corporates, the difficulty of achieving critical mass for proxy services across Europe and the challenges of real-time #crossborder #sanctionscreening.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded live at EBAday 2022 in Vienna. The hum of voices in the background imparts the amazing ambiance of the first in-person payments event for Europe since 2019. Enjoy!
Claus Richter, Deputy CEO & COO at P27 Nordic Payments, joined Julie and Mike in Vienna to talk about building out the core services needed to enable real-time, cross-border, cross-currency payments for the P27 initiative, the importance of regional overlay services to drive adoption and building common services for fraud and AML on a joint data set.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded live at RedCompass Labs’ EBAday 2022 stand in Vienna. Enjoy the burble voices you can hear in the background conveying the incredible ambiance of the first in-person payments event for Europe since 2019.
Russ Waterhouse, Executive Vice President of Product and Strategy at The Clearing House, spoke with Mike and Julie at #EBAday about the state of #payments in the United States, the importance of product ideation and development, the use case for #requestforpayment ( #requesttopay ), establishing an instant payments corridor between the US and European markets, #ISO20022 in the US of A and the challenges of co-existence, and the potential industry risk of moving to #CBDC too soon.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded live at the RedCompass Labs’ stand at EBAday 2022 in Vienna. Enjoy the ambiance created by the multitude of in-person conversations that burbled around us at the first in-person EBAday event since 2019!
Daniel Szmukler, Director and Head of Innovation, Member Relations and Strategic Engagement at Euro Banking Association (EBA), discussed the fantastic energy surrounding the first in-person #EBAday since 2019 with Julie and Mike, before moving on to the importance of the Digital Operational Risk Act (DORA) (including lessons we can learn from spiders!) and sharing his personal insights on privacy and the regulation of digital assets, including CBDCs and Stablecoins.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded at the @RedCompass Labs EBAday stand. Enjoy the energy created by the murmur of face-to-face conversations that characterised #EBAday2022 in Vienna!
Nicola J. Coyne, Head of Immediate and Low-Value Payments at Barclays, speaks with Julie and Mike at the Redcompass Labs stand during #EBAday about scheme #interoperability, “smart payments”, payment transparency, and the representation of #womeninpayments.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded live at EBAday 2022 in Vienna. The fantastic hum of voices in the background conveys the vibe on the floor of the first in-person payments event for Europe since 2019. Enjoy!
Marijke Koninckx, Chief Product Officer at BankiFi, talks with Julie and Mike about a range of hot topics including #embeddedfinance, #requesttopay, #variablerecuringpayments, #confirmationofpayee, and the true value of #openbanking as a way to help SME businesses survive current market challenges.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded at the #EBAday 2022 event in Vienna. The buzz of conversation in the background conveys the phenomenal vibe at the first in-person payments event for Europe since 2019. Enjoy!
Paul Ruskin, Director of Business Development at Trace Financial, shoots the breeze with Mike and Julie to ponder their #ISO20022 predictions from two years back, debate the current state of industry readiness and consider last-minute advice ahead of the ISO 20022 migration this coming November.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded on the floor at the #EBAday 2022 in Vienna. The buzz of conversation in the background conveys the phenomenal vibe at the first in-person payments event for Europe since 2019. Enjoy!
Peter Hazou, Director of Business Development for Financial Services at Microsoft, met with Julie and Mike during #EBAday to talk about modernising #payments infrastructure, responding to the shifting sands of technology change, the need for banks to reimagine their business models, and the untapped potential of data insights.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded live amidst the hustle and bustle of EBAday 2022 in Vienna. Enjoy the fabulous buzz of conversation that characterized the vibe on the floor of the first in-person payments event for Europe since 2019!
Jon Lloyd, Head of Customer Success – Europe at Form3, joins Mike and Julie amidst the hustle and bustle of #EBAday in Vienna to discuss an alternative approach to integrating with market infrastructures, architecting #payments platforms for obsolescence, and the readiness of banks for the #cloud transition.
This special 'bite-sized' edition of the RedCompass Labs After Hours podcast was recorded live at EBAday 2022 in Vienna. The hum of voices in the background imparts a fantastic vibe on the floor of the first in-person payments event for Europe since 2019. Enjoy!
Nick Miles, Director of Business Development at RTGS.global, joins Julie and Mike on the floor at #EBAday to talk about how bilateral atomic settlement makes settlement risk a thing of the past by enabling instantaneous #crossborder exchange of liquidity, #CBDC, and leveraging #cloud platforms to achieve the #settlement of hundreds of thousands of transactions in milliseconds.
This special ‘bite-sized’ edition of the RedCompass Labs After Hours podcast was recorded live at the RedCompass Labs’ stand at EBAday 2022 in Vienna. Enjoy the ambiance created by the multitude of in-person conversations that burbled around us at the first in-person EBAday event since 2019!
Rossana Salaris Thomas, Head of Enterprise Payments Platform EMEA at Fiserv, joins Julie and Mike on the floor at #EBAday to discuss the ideal time to implement a new payment architecture, debate whether Europe or the US is leading the way on cloud adoption, and whether banks are really ready for ISO 20022.
This special edition of the RedCompass Labs After Hours podcast was recorded live amidst the hustle and bustle of EBAday 2022 in Vienna. You will hear some background noise, which imparts the exciting vibe of the first in-person payments event for Europe since 2019. Enjoy!
“Time is the only currency you don’t have anymore!” – Julie Guetta, RedCompass Labs
This article is part of the After Hours by RedCompass Labs series.
Where the best and brightest in the financial services industry tell what they really think about payments.
Joining Julie and Mike for an After Hours chitchat is Chris Murphy, who leads Business Design for Business Transformation at Lloyds Bank in the UK, where he covers the integration of new technologies such as Google Cloud and their strategic investment in Thought Machine, a cloud-native next-generation core banking platform.
Their conversation traverses several topics, including Incumbents vs FinTechs, tackling digital transformation (spoiler: ‘digital lipstick’ is not enough!), leveraging the broader financial ecosystem and Real-Time Event-Driven processing vs Batch (hint, ‘batch is dead!’).
After a quick gallop through predictions regarding the potential futures of UK Neobanks, their discussion shifts to digital onboarding, digital identity and the future of cross-border digital authentication.
And, what about the payments architecture of the future? Following a brief conversation about legacy anchors that trap banks in the past, they move on to debate the maturity of current cloud offerings and consider the operating discipline needed to make cloud services a viable foundation for the Future of Payments.
Interested in contributing to our ongoing discussion? Feel free to air your comments on our RedCompass Labs LinkedIn page.
Mike and Julie are back and on fire!
In this episode, they talk about the future of payments, focusing on cross-border payments and all the changes happening in this arena.
They touch base on the key ingredients to deliver a more efficient, convenient, and inclusive cross-border payments experience, using SWIFT GPI, blockchain, or Mojaloop’s open-source platform.
But, of course, it wouldn’t be a proper After Hours chat, or even a real Mike and Julie discussion, if they didn't go off topic – with open banking, open finance, pocket money, and liquidity management also on the agenda!
Spoiler alert: A lot of announcements are made in this podcast, so please sit back and enjoy. And feel free to step into the discussion by commenting below.
In the past, we discussed the challenges of accessing financial products that truly meet the customer's need in a safe manner with Elisa, and also with Paula and Lesley-Ann. Close to one-third of adults are still unbanked. About half of the unbanked are the women of poor households in rural areas. For International Women's Day, we wanted to discuss this reality, how it hinders the empowerment of Women and how we can improve this situation.
In this episode of After Hours by RedCompass Labs, Mike Truter and Julie Guetta talk about financial inclusion, financial literacy, the true cost of cross-border payments, and how payments and mobility are critical to increasing economic and social inclusion for women.
Our special guests for this episode are:
- Alison Grun, founder of FreeW. Alison is based in Malaysia and teaches women how to drive and take care of motorbikes. She also organises woman-led road trips to meet women in various areas of the world, such as Nepal, India and Iran.
- Jai Bharathi, the founder of MOWO, which is the contraction of Moving Women. Jai is based in India. She also teaches women in India how to drive on two or three wheels and organises workshops for women to discuss how public space could be accessed differently to include everyone safely.
In a world where cash remains king, access to critical financial tools remains a problem that's far from being resolved. How we progress in the journey towards digital money and reduced cash usage is one of the crucial questions we should ask ourselves to start addressing this issue. Unfortunately, for a multitude of reasons, prominent actors in financial services continue not to reach the underserved. So, what can be done to lower the costs and barriers to deploying financial underpinnings?
In this episode of After Hours by RedCompass Labs, Paula Hunter and Lesley-Ann Vaughan talk about why financial inclusion remains an unfinished project, how digital financial services are having a radical impact on the lives of many chronically underserved groups, and the reasons to stay optimistic about the emerging digital economy. Paula is the Executive Director and Lesley-Ann is responsible for Product Strategy at Mojaloop Foundation, the open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion.
The International Labour Organisation says there are 40 million people trafficked every year. The proceeds of this traffic need laundering through the financial system. If you're new to such financial crime-related stats, you'd be forgiven for thinking the world has gone slightly mad. Aren't banks investing billions in detecting financial crime within their payment flows? And what is the actual impact of regulations such as the US Anti-Money Laundering Act of 2020 and the 6th Anti-Money Laundering Directive in Europe?
In this episode of After Hours by RedCompass Labs, Andrew Davies, talks about why the whole financial services industry needs to put resources to work and how driving collaboration while leveraging data, intelligence and technology play a crucial role in combatting these insidious crimes. Andrew is Vice President of Global Market Strategy for Financial Crime Risk Management solutions at Fiserv, a global leader in payments and fintech.
Will it become commonplace to see payments as an embedded feature inside a holistic experience? Many insiders seem to think so. It’s even said that banks have no option but to respond to people’s demand for further choice, freedom and lower prices. But what exactly can be done to address the ever-changing needs of the customer? What user-friendly banking solutions are there to tackle problems that SMEs face daily?
In this episode of After Hours by RedCompass Labs, Mark Hartley, talks about the transformational power of embedded finance. He also explains how putting business customers first is the only way ahead for banks to remain relevant and why no conversation is complete without discussing the importance of purpose, values and principles. Mark is the CEO and Founder of the Anglo-Dutch Fintech BankiFi.
With the rise of new providers leveraging disruptive technology such as the cloud, the financial services industry has changed. A monolith one-stop platform is no longer a viable option to market financial service products. The next-generation vendors have broken down the end-to-end payment processing chain, allowing banks and FinTechs to offer new innovative products in a rapid fashion. But what are the barriers for banks to migrate to the next generation platform product?
In this episode of After Hours by RedCompass Labs, Liam Leahy explains the value-added from these trailblazing platforms and how they propose and radically support a different business model. Liam is the Managing Director – Sales, EMEA & Americas of one of the UK’s leading FinTech companies: Thought Machine.
To move quickly, enhance product propositions, and better compete is the order of the day for banks worldwide. Many of them, however, still rely on inflexible underlying technologies that prevent them from innovating. For all the talk of the benefits of leveraging the cloud, the costs and risks involved are still very much present in the banks’ consideration. On top of that, some cannot imagine working without their existing platforms. It may seem at first that there are too many questions with so few answers.
How will a move to the cloud serve both the existing banked customers and the unbanked population? Why is moving legacy technologies into the cloud not the same thing as a genuinely cloud-native, next-generation core banking system? In this episode of After Hours by RedCompass Labs, Vijay Oddiraju, the CEO and Co-Founder of Volante Technologies, clarifies these and many other such questions.
Combatting financial crime is one of the key challenges currently faced by the financial services industry. The volume and variety of crimes keep expanding, making fraud, blackmail, and money laundering, for example, harder to detect. The advent of cyber technologies and digital currencies has complicated this task even further. What role can Real-Time Sanctions Screening play in tackling these issues? How can its efficiency be improved? And what sort of considerations need to be made to respect data privacy?
In this episode of After Hours by RedCompass Labs, Mike and Julie speak with Stanley Yong, Head of Product Design at Onyx, about how to drive efficiency into FrinCrime and why Real-Time Sanctions Screening can play a crucial role in this regard.
Approximately 1.7 billion adults do not have an account with a financial institution or through a mobile money provider. With more than half of unbanked people represented by women, the gender gap hinders them from participating in the labour force, control assets, make their own economic decisions, and finally gaining full independence.
In celebration of International Women's Day, Mike Truter and Julie Guetta invited Elisa Minischetti, Vice President in the Digital Transformation Division of MUFG Bank, to discuss gender equality and digital financial inclusion.
How can financial services develop a top user value proposition and maximise their profits?
Listen to this episode of After Hours by RedCompass Labs, in which Mike Truter and Julie Guetta welcome Equinix Digital Transformation Expert, Adrian Mountstephens, to discuss the meaning of Embedded Finance for the Financial Industry.
For years now, the financial industry has been talking about Open Banking – the use of open APIs to access bank customer data and allow third-party developers to build innovative new applications and services.
In our inaugural episode of After Hours by RedCompass Labs, Mike Truter and Julie Guetta are joined by Fintech Investor & Advisor, Adam Moulson, to gaze into the crystal ball and ponder the Future of Open Banking.