At the Fintensity: Limitless Payments event, a gathering that spotlighted top figures in the Nordic payments sector, we had the opportunity to speak with Michael Boel from Banking Circle. Michael, who heads up the area within Banking Circle called Clearing and Product Execution, elaborates on his role which bridges central banks, technology providers, and banking associations. His unique position allows him to meld regulatory perspectives with technical integration, avoiding internal conflicts by balancing these often disparate areas. During his presentation, Michael discussed “agency banking,” a service that allows larger banks to support smaller institutions by acting as sponsors, thereby enabling these smaller entities to navigate complex regulatory landscapes without the heavy technological investments typically required.
This service is particularly pertinent in light of new SEPA legislation, which brings both opportunities and challenges, especially for Payment Service Providers (PSPs) that need to adapt to new infrastructural demands. Michael’s key takeaway from the event was the invigorating atmosphere created by so many payment enthusiasts gathered in one place. He highlighted the value of informal interactions during breaks, where attendees could dive deeper into topics like crypto and regulation. These discussions not only enriched the formal content of the event but also fostered a vibrant community eager to share insights and push the envelope in payment technologies. Don’t miss this conversation with Michael as he shares his insights and experiences from the ground at Fintensity, reflecting on the future of banking and payments.
