How Payments Progress Requires Unlearning

Attending EBAday 2025 in Paris, Simon McConnell, Global Head of European Clearing, Citi Bank took some time to speak to FinextraTV about the changing clearing landscape and how in the pursuit of progress, some are essentially unlearning old habits. Coming towards the end of ISO migration, McConnell said that there has been a huge amount of work put into progress but that these changes have created an increase of costs and the focus is now on tangible, actionable cost-reduction opportunities. He further believes that payment professionals are struggling to understand where to place priorities and that, where they are still on a learning curve, they should get more used to collaboration that allows the “stupid questions” to be asked.