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Tim Hawkin



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The Challenge:

  • Review Open Banking for client opportunities as Open Banking will change banking and lending, including having a profound effect on UK Credit Bureau’s
  • 70% clients payments in are made by debit card costing millions of pounds each year (Gateway, scheme, interchange & acquirer margin)
  • Use API connectivity where possible to reduce risk and increase efficiency
  • Enable customers at point of transaction to see the impact on both their account and their bank account in order to manage their finances better

What We Did:

  • Researched the Open Banking Market and then ran an RFI
  • Gained required stakeholder buy-in, including informing executive and senior stakeholders about the capability of Open Banking and its potential benefits.
  • Ran a targeted RFP, which included major payment schemes, major banks and PE backed FinTech companies
  • Refined leading companies proposition and helped win a deal that far exceeded the clients expectations
  • Implemented a UK First – The client was the first Lender to implement Open Banking payments in the UK, and received significant positive PR

The Benefits:

  • Benefits included a monumental decrease in transaction costs - > 80% reduction
  • Achieved 15% efficiencies in the reconciliation space.
  • Further benefits also anticipated, from product enhancements include improved collections rates
  • Customer journey times were reduced due to pre-populated fields within their own banking app
  • The Chief Financial Officer commented, “Awesome result, great work–great job done by Hawkin & Co team”.