The FinTech Report Podcast: Episode 39: Mark Tibbles, CEO of Australian Settlements Limited (ASL)

Contact: Mark Tibbles mtibbles@asl.com.au 

Delighted to welcome Mark Tibbles, CEO of Australian Settlements Limited or ASL.

Mark is a Payments guy having spent most of the last 25 years in the payments sector, including stints at CBA, NAB, Westpac, Clydesdale & Yorkshire Bank, Verifone and Wirecard. Since 2019 Mark has been leading the ASL Team in the shift from aggregator to a next generation Payments Platform service provider. 

ASL is an Authorised Deposit Taking Institution (ADI) regulated by the Australian Prudential Regulation Authority (APRA) and a provider of B2B ‘Payments-Platform-and-Settlement as a Service’ (PPaaSS) solutions to banks, Fintechs and Corporates.

ASL’s goal is to provide platform access to the domestic rails – connect simply and almost self-serve in a complicated world. ASL partner with organisations that are leaders in their field – FIS for NPP connectivity, Shaype for our Platform and API led services, ISW for the latest Fraud and transaction monitoring capability. In the near future ASL will add leading Card Management and Switching services along with Digital Identity and a single pane of glass view of our services. 

 ASL are Payment tech led and Customer focused. ASL connects banks, fintech’s, Corporates and a range of other businesses to the Payments world.

 ·          ASL was originally formed by the Building Societies in NSW, VIC and QLD as a cooperative

·          ASL were the first non-Bank to be granted an Exchange Settlement Account (ESA)

·          ASL is now one of 12 Direct connectors to COIN and the NPP along with the big 4 - ANZ, Commonwealth, Westpac and NAB. 

·          ASL processes 100m+ transactions annually and in excess of $650m per day

ASL offer access to all the Domestic network requirements like:

·          New Payments Platform (NPP)

·          Direct Entry

·          Cards – Visa and eftpos with the ability to settle Mastercard

·          BPay

·          Financial Crime/Fraud Services

·          RTGS

·          Plus some of the lesser known and specialist services like Australclear and Pexa.  

ASL also represent  customers and give them a voice in the Industry with organisations like AusPayNet and Australian Payments Plus (AP+). 

Generally/historically, ASL supports banks, other financial institutions, fintech’s – however their suite of solutions are suitable for a range of organisations that have high payment/transaction flows. ASL see corporate users as a key future customer base along with other wholesale payment service providers who don’t have direct access to the domestic rails. 

What do ASL customers (generally) need? 

·          Access to payment rails / the payment’s world

·          Settlement solutions 

·          Financial crime management 

·          Payment’s consulting/advice/education – this is key – we help our customers navigate a very complicated industry

·          Partnering with an organisation with an Australian banking license (ADI)

What are their biggest pain points you solve for?

·          A partner that helps navigate the industry nuances

·          Accessing all services from a single partner

·          Getting