Dear Customer,

For my column today, I want to focus on how the resilience of Form3’s platform is enabling our customers in the US, Europe and UK to operate effectively, as these three markets evolve, scale and mature at different stages.

Starting with the US market, we’re delighted to announce that Form3 recently collaborated with IBM Cloud for Financial Services.

The introduction of Form3’s cloud native instant payments technology on IBM Cloud for Financial Services will enable financial institutions to modernise their payment systems, improve resilience, and deliver exceptional customer experiences.

In terms of the benefits this collaboration delivers, IBM Cloud for Financial Services’ US customers can now access our cutting-edge, real-time payment technology. For Form3, the positive outcome is supporting IBM’s bank customers on their journey to the cloud for critical payment services.

In summary, our work to support IBM Cloud for Financial Services highlights that Form3 is using its expertise to help modernise payment systems in the US. We are very proud to be supporting this collaboration in this market.

In Europe, the European Central Bank (ECB) announced an exciting policy last year. Non-bank payment service providers (PSPs) can now access central bank-operated payment systems, including TARGET. 

We welcome this new policy, as fintechs will have the ability to create real-time payment digital experiences that will improve customer and consumer experience.

In terms of what advice Form3 can offer non-bank PSPs, we have developed a flexible and resilient platform designed to cope with new policies and regulations. We have been live with European customers for over five years, so we can bring that scale and experience to help non-banks take advantage of new routes to payments.

What this ECB policy highlights is that the European payments markets is scaled, and is now accelerating, to incorporate more access and more participation. This allows non-banks to compete with established financial institutions, to ultimately benefit consumers.

Finally, here in the UK, Form3 is partnering with Visa and Pay.UK on a new proof of concept (PoC) to develop innovative ways to protect the integrity of UK payments through emerging technology.

The PoC is vital, as it will help protect payment systems critical to the UK economy – ensuring £37bn of payments flows every day for the people and businesses that rely on them.

Form3’s work with Visa and Pay.UK on this PoC recognises that as the UK payments market is mature and at scale, the future focus is to enhance resiliency. We can drive this resiliency with our technology and expertise for customers.

In summary, US, European and UK payment markets are at very different stages of maturity. Due to this situation, we have built our technology to future-proof customers for different market conditions, so they can take advantage of new routes to payment schemes. If you need help in your market, we have the knowledge and experience to help you. Please get in touch.

Many thanks for taking the time to read my column.