“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.