We recently hosted our annual Current Account Switch Service strategy event, bringing together representatives from across the financial services industry to share ideas, challenge assumptions, and explore how we can continue evolving Pay.UK’s account switching services to meet the needs of modern consumers.
From understanding how to engage younger audiences to reimagining what switching might mean in a digital-first world, the event was filled with meaningful conversations, expert insights, and creative thinking about the road ahead.
Connecting with Gen Z
We began the day with an engaging discussion focused on how to connect with the 18–24 age group, a key demographic in shaping the future of financial services.
A live influencer panel session brought together social media creators who offered honest perspectives on how younger consumers view banking, trust online advice, and navigate the digital landscape.
A year in review
Our Product Owner, John Dentry, provided an inspiring overview of the Current Account Switch Service’s journey so far. He reflected on the service’s operational and strategic progress, purpose, and continued value in supporting a smooth, secure, and trusted switching experience for millions of consumers and businesses.
John emphasised how collaboration across the industry has strengthened the Current Account Switch Service’s role in promoting competition and consumer choice in the banking sector.
Exploring the future of switching
The day concluded with an interactive workshop, where attendees explored how innovation, technology, and collaboration could shape the future of account switching.
Eight breakout groups tackled forward-looking questions, producing valuable insights and practical considerations on topics such as digitalisation and regulation, integration with other payment services, and expansion of the service into new products.
Throughout, delegates emphasised the need to balance innovation with operational practicality, ensuring any new developments maintain the reputation of the Current Account Switch Service for reliability and customer protection.
Looking ahead
This year’s strategy event reinforced the importance of industry collaboration including the growing role of consumers themselves in shaping their financial experiences.
John commented: “As the financial landscape continues to evolve, we remain committed to leading the conversation on the future of account switching. The insights shared will directly inform our strategic direction, helping us ensure that the Current Account Switch Service, and the wider payments ecosystem, continues to deliver value, trust, and innovation for everyone.
