I would like to borrow a theme from Jim Collins, the management researcher and writer. His two best-known works, Built to Last and Good to Great, are evidence-based studies of what makes commercial organisations outperform over the long term. APCA’s own core principles – our values, purpose, unique positioning, member benefit proposition and vision – were developed using the Collins framework. You can find them on our website. Collins has the luxury of something to measure: he looks at relative increase in total shareholder value of listed companies against competitive peers over long periods of time. Then he tries to work out how the top performers got there in the first place, and how they stay on top. These days there is plenty of debate over the validity of this method but its influence on corporate strategic thinking is undeniable. Unfortunately, neat quantitative measures of achievement are not generally available for payment systems. But the long-term, structural orientation of Collins’ work aligns well with broader payments system evolution: how does the industry build a payments system that will stand the test of time, and respond to the unknowable challenges of the future? It’s not about any one strategy or programme, but the overall structure, culture and orientation.
The Australian Payments Council is inviting organisations with an interest in payments to be part of its Challenge Design Workshop at the Spark Festival Sydney on Friday, 28 October 2016.
The workshop will focus on designing a range of challenges to be used in a hackathon early next year. It will give a range of organisations – large and small – a chance to discuss the wider benefits of making data available.
Next year’s hackathon will demonstrate that sharing data can lead to creation of new customer-facing services.
Using data provided by a number of financial institutions, a retailer, and the payment schemes – this hackathon will help inform the industry’s approach to APIs.
Prizes will be awarded to top teams, as judged by the Council and major FinTech representatives.
The Spark Festival
From the 22nd to the 30th of October, the Sydney start-up ecosystem comes alive with a nine-day celebration of innovation and the culture of entrepreneurship. This diverse and inclusive program of events, many of them free, showcases the creativity and energy across the exciting start-up sector.
With over 90 events and activities spanning 14 different tracks, the Spark Festival program invites you to take a look at what’s happening across the entire start-up ecosystem. Click here for more info.