Nigel Walder, COO, ClearBank at Microsoft Digital Transformation Day

1. The UK’s first new clearing bank in over 250 years

2. • Low investment
• Low tech
• Low service levels
In 2015, the UK was processing:
£82 trillion
16 04
In 1960,
there were 16 banks
providing clearing services
In 2015,
there were
just 4
What’s the problem

3. Modern financial services
providers now require:
• Real-time payments
• Greater volumes of transactions
• Smaller sums processed more regularly
• Innovation
• Agility
What’s the demand?

4. Why build it on the cloud?
Scalability SafetyResilience

5. 2015
• Team built
• Banking Licence
received
• Customer owned
business/retail current
account
• Deposit accounts
• Multi-sort code support
• FI API
• Virtual account support
• DD collections
• FSCS protection
• FDPs and SOPs
The journey to date
2016 2017 2018 2019
• Real-time FPS
• Real-time CHAPs
• Nostro account
support
• Sort code provisioning
• Customers own BIC
• Customer portal
• BACS clearing
• Inception
03
Clients
30
Clients
70
Clients

6. Agency banking Banking-as-a-Service
• Euro Clearing
• FSCS protection
• Sanctions-as-a-Service
• Cheque Clearing
• Multi-currency Accounts
What’s next?
2017 2019 & beyond
• FX Payments
• Bulk Payment
Redirection Services
• CASS
• Platform-as-a-Service

7. Observations ……
• Cultural journey …
• Agile development ... Delivery versus Predictability … Trust … Integrated teams ...
• Promote fail fast ... Learn from mistakes
• High frequency of software releases
• Source of engineering talent
• The optimal technology operating model for cloud-based solutions
• The speed of technology advancement (e.g. multi-zone within Azure)
• Stay tight …