Major progress was made in 2014 on the common understanding of the strategic importance of alternative payments for the European banking sector, against the background of transforming private and public sectors.

The EBA produced three key deliverables in this field. One on the user requirements for e-APs, in which the change drivers and the various product segments were described in more detail, including a comprehensive summary of challenges for banks. The second deliverable was on Digital Identity and its strategic relevance to the banking industry. Digital Identity leverages trust and the existing security infrastructure towards consumers, merchants, corporates and other e-AP providers. The third deliverable is on the infrastructure requirements for e-APs. The EBA Working Group on Electronic Alternative Payments (e-APWG) analysed the infrastructure landscape of e-APs and calls now for collaborative action to create the so-called ‘Digital Services Infrastructure’. This ‘layer’ on top of the existing infrastructure should offer EU-wide trusted reach to e-APs to reduce fragmentation, as well as provide real-time payment capabilities through bank and non-bank payment providers.

The results are also very relevant for all regulatory developments banks are facing for 2015 and beyond, including Secure Pay, PSD2 (Access to the Account), eIDAS, Data Protection and AML4. Over the last year the transformational capability of e-APs have become more apparent and actionable for 2015. Change will go beyond the payment silo within banks.

In order to accelerate the required change within institutions the overall understanding of banking challenges in this domain need to be communicated and understood by a large audience of decision makers and influencer. As speed is of the essence, EBAday in Amsterdam will gather senior leaders of the various banking silos to become aware and involved in these highly strategic change projects.

Could one think of a better way to mark EBAday's 10th anniversary?