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Today’s foundations for tomorrow’s payments | Curious Thinkers 2022

Nathan Churchward (Cuscal) moderates a session with Christian Westerlind Wigstrom (Monoova), Luke Fossett (GoCardless) and Marnie Ryan (NPPA)

As one of Cuscal’s key strategic priorities and a true leader in this space through our ongoing commitment with the NPPA, this session aims to reinforce the benefits of PayTo and to get clients excited that there will be take up of PayTo. The content will be aimed at sharing the benefits on the initiator side as well as demonstrating what’s important from a payer side – how do our banking clients position this as a competitive advantage with their customers?

Cyber Security: Disruptive thinking in Cyber Risk Management | Martijn Verbree

Martijn Verbree joins virtually for his talk on Cyber Security at Curious Thinkers 2022.

This is an extremely important topic for organisations as it is a growing problem for their business and customers. The keynote will give insights and knowledge to strengthen security measures and educate customers to be cybercrime-wise.

Digital Currency Landscape | Anthony Jones and Steve Vallas

Anthony Jones speaking at Curious Thinkers 2022.

Everyone has heard about it, and everyone is either involved or knows someone who is in some way. The Digital Currency afternoon aims to provide attendees with an understanding of the overall landscape and where the opportunities lie for all client segments, what the regulators are thinking and how Cuscal is responding to this increasingly important topic.

Industry Evolution: How the Fintech community is enabling growth and innovation | Curious Thinkers 2022

A panel discussion with Rimal Gokani (Zai), Tim Wilks (Coinspot) and Adam Theobald (Ordermentum) at Curious Thinkers 2022.

The market is changing, and you can get there when you have to meet regulatory requirements, or you can get there on your own before you have to. This session aims to provide tips on how to deal with the changing market by showing how the fintech community is responding.

Artificial Intelligence: The How and the Why? | Dr Catriona Wallace

Dr Catriona Wallace speaking at Curious Thinkers 2022.

Artificial Intelligence is the fastest growing tech sector in the world, valued at US $327 bn in the last 12 months. It will also remove 85 million and generate 92 million jobs in the next two years. But who is leading the ethics of this powerful technology? The tech giants? Not likely. Government? Trying but about 5 years behind. And now commentators such as Stanford regard ‘Ethics Everywhere’ as the number one technology strategy priority for organisations.

So what is Responsible AI and how do you do it? Dr Catriona Wallace will share best practices in Responsible AI as well as sharing some super useful case studies. And most importantly Dr Wallace will discuss how you can step into being an Ethical Leader.

The NPP is starting to realise its potential

We have been thrilled by the reaction to the recent article which broke the news about the New Payments Platform (NPP) collaboration between Cuscal and Assembly Payments. We’ve both been fielding lots of enquiries from companies keen to emulate Carsales and so we thought we’d write this article to tell you a bit more about how the collaboration works and the best way to bring the benefits of real-time payments to your customers.

We think the NPP is a fantastic opportunity for any e-commerce company that is sending large amounts of money around or just needs to move money fast. Whether this is large volumes of transactions (or just large transactions) the benefits are clear – immediate, verified payments with detailed descriptions will enhance customer experience and minimise enquiries.

What is the NPP and how do you connect?
The NPP is the new, decentralised payments infrastructure which allows participating financial institutions (including Cuscal and the RBA) to move money between each other in seconds, 24/7. To become part of the infrastructure (a ‘Participant’) is a lengthy, complex process and you are required to be an Authorised Deposit-taking Institution (as it’s a regulated environment and requires access to RBA settlement facilities). However, most companies don’t need to do this. They can get the same benefits, more cheaply and easily by connecting to one of the Participants.

What levels of connection and capability are there?
The second official level of connection to the NPP is called an ‘Identified Institution’. The collaboration between Cuscal and Assembly Payments is big news because Assembly is the first company that is NOT a financial institution to be officially recognised as an Identified Institution. This means Assembly can register and create PayIDs for others and offer NPP services to its own customers, like Carsales.

Complicated? It doesn’t have to be.
While the background, and some of the terms, are a bit complicated, actually using the NPP is getting easier. Most companies will connect through APIs. The New Payments Platform has recently published its API framework which enables third parties to get a greater understanding of the platform and what it can do, using a sample API Sandbox.

Each NPP Participant will support their own APIs based on the NPP API Framework. Cuscal has already released REST APIs, which is how Assembly accesses NPP and Osko services to move money in real-time between Cuscal and other financial institutions.

Using the NPP is even quicker and easier for those companies that don’t need to become an NPP Identified Institution but want the benefits that come with NPP and Osko payments. For example, Carsales is enabled for NPP services through the Assembly platform.

Which path is right for you?
It depends on what you want to do.

  • Talk to Cuscal if you want to become an Identified Institution, like Assembly, and offer PayIDs and NPP services to your own customers. This path will suit businesses such as financial institutions and payment service providers.
  • Talk to Assembly if you would like a full suite of multi-channel payment solutions including real time NPP payments, PayIDs, underwriting, fraud and KYC services. This path will suit many online businesses, especially corporate enterprises, marketplaces and ecommerce platforms.

If you’re confused as to which path is right for you, just get in touch with either one of us and we’ll steer you in the right direction!

By Nathan Churchward, Cuscal and Simon Lee, Assembly Payments

Mastering the 8 elements of disruptive leadership

The Digital CEO, Stephen Scheeler, at Curious Thinkers 2018 in Sydney talking with Cuscal‘s clients about the eight elements of disruptive leadership.

Watch the video to find out the keys to disruptive leadership and how business leaders can learn from the successes of the tech giants to maximise the future success of their own businesses.