“The national legislation and the recent European regulation that are reshaping the landscape represent an opportunity for banks to transition to a new model in the payments market, with an emphasis on customer experience and new services,” emphasized Giannis Grammatikos, General Manager, Head of Retail Bank Products at Piraeus Bank, at the 9th Payments360 Conference, powered by DIAS.
According to his statements, the new European framework for instant payments, along with national regulations on fees, constitute a reality that is changing traditional charges. However, the answer is not to compensate for these changes through alternative “micro-charges.”
Instead, it lies in transitioning to a higher value-added model that delivers value to the customer and justifies sustainable revenues for banks, based on three pillars:
1. Enhancing the value of existing payment services. As Grammatikos said, the payment experience should be enriched, for example with:
- Subscription models of “digital relationship” with premium accounts that include real-time service, privileges, insights and secure financial management.
- Budgeting & alerts tools within mobile apps, to help customers manage their finances.
- Business services, such as real-time reconciliation, cash flow monitoring tools and financing linked to payments.
2. The creation of new products and services, beyond payments.
Instant payments, in addition to speed, offer data. And data allows for personalization, he emphasized. At this point, the role of technology and Artificial Intelligence was emphasized:
- AI & analytics for personalized offers: From transaction monitoring to models that will recommend products, investments or ways to save money.
- Robo-advisory: Automatic investment profiles and capital management suggestions, based on the client’s goals, age and risk.
- Real-time microcredits: Analysis of behavior and transactional image to provide small, temporary credits within seconds, at the time of payment.
3. Expansion into new ecosystems, beyond the banking system.
Grammatikos noted that as players such as technology companies, telecommunications, fintechs, are entering the financial sector, banks must also claim a role in neighboring ecosystems:
- Services outside the banking core, such as telecommunications.
- Integration into third-party platforms: The bank as a provider of API-driven services in real estate, insurance, or B2B ecosystems.
- Collaborations with startups and third parties for embedded finance – whether in physical commerce, logistics platforms, or consumer tech.
Therefore, the bank ceases to be a mere payment provider and becomes an infrastructure provider and a value-added platform.
