Delivering payments innovation and efficiency during challenging times

The end of one year and start of another is a good moment to reflect on the fundamentals of Form3’s operations - especially during these volatile financial times.

The large stock market falls of tech stocks, the collapse in cryptocurrency value, and most disturbing, the failure of FTX are stark reminders that innovation and delivering radical change in financial services is not a one way bet to success.

Against this background, the team at Form3 are delivering innovation and radical change, but of real services, to update and bring efficiency to enterprise-grade payment processing in the cloud.

It's a simple idea that enables banks to replace out-of-date technology and take full advantage of what cloud computing can offer. That simple idea brings the opportunity for value-added services, examples being cross-border and cross-currency payments and advancements in fraud detection. This adds real value to real customers – in this case, some of the world’s leading banks. 

All this takes serious investment in R&D - a business judgement that is well supported by the shareholding structure at Form3. The combination of management, private equity and strategic investors brings a speed of decision-making and enduring strength of philosophy that is hard to find in public companies - or in many business ventures at all. 

But most of all it takes human endeavour. At the heart of Form3 is the determination to create a work environment and a culture that attracts the best colleagues to deliver some of the most interesting work in payments. This is a daily mission to deliver for you, our customers. Therefore, we press on in 2023 with much-continued drive and ambition.

Finally, on a separate topic, having been a Director of RBS, now at NatWest for 8 years as the bank recovered from collapse in 2008, it was heart-warming to see CEO Alison Rose receive a Damehood. It is not only very well deserved, but also great to see that the important work our banking system does for the economy is recognised. Congratulations Alison.

I hope you all have a safe and prosperous 2023.

Written by

Penny Hughes CBE Board Member

Penny is a very experienced business leader. After a 10-year executive career with Coca-Cola, Penny has enjoyed a busy Non-Executive portfolio, working on more than 20 Boards covering consumer brands, mobile and media tech, banking, leisure and property. Brands include: The Body Shop, The Gap & Morrison’s Supermarkets, Aston Martin Lagonda; Vodafone, Trinity Mirror & Reuters, Skandinaviska Enkilda Banken & Royal Bank of Scotland; The Gym Group; iQ Student Accommodation & Riverstone retirement living.

Alongside her business career, Penny enjoys family life and various not-for-profit responsibilities that have included Trustee, British Museum and President, Advertising Association.