Tom Blomfield is CEO and co-founder of Mondo, a new smartphone bank for the UK. He previously founded GoCardless, the UK’s largest Direct Debit Processor, which has gone on to raise over $12m from investors such as Accel, Balderton, Y Combinator & Passion Capital. In 2013, Tom was nominated one of the top 5 Entrepreneurs under 30 by the European Commission.
Tom is a founder first and foremost. His experience lies in the creation of new innovative ideas and how to get a new business off the ground. This means if you’re running a start-up, Tom is the man to speak to.
Tom Blomfield will be on our Morning panel discussing Regulation and Innovation in London and how it affects the Payments Industry at Pay360Innovate on the 25th of November. For more information click here.
We spoke to him to find out more:
Sum up your role in the industry in 3 words?
Making banking better
As the founder of a start-up how do you feel regulation has affected you?
Regulation is still the largest barrier to entry in banking. The Payment Services Regulations 2009 introduced concept of the “E-Money Issuer”, along with its little brother, the “small E-Money Issuer”. This piece of regulation the secret behind a huge number of today’s fintech success stories – it kept regulatory capital and reporting requirements relatively low for the first year or two of operation.
Regulation and Innovation help or hinder?
When done well, it can really help innovation. PSD1 & PSR09 was a great example of this. There’s a feeling that the 2013 new bank authorisation changes don’t go far enough.
London is a hot-spot for start-ups at the moment. What do you think allows businesses here to flourish?
Access to talent & capital, first and foremost. I think London is particularly strong for financial technology, driven by a forward-thinking regulatory environment and access to world-class payment systems.
What question would you like to be asked at Pay360 Innovate?
Surprise me!
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
