Hannah Nixon's speech at the PSR's Annual Plan launch event 2017

29/03/2017

Hannah Nixon’s speech at the launch of the PSR's Annual Plan 2017/18 event at the Barbican, London, on 29 March 2017.

This is the text of the speech as drafted and may differ from the delivered version.


Good morning to you all. Let me begin by thanking you for joining me this morning.

It gives me great pleasure to welcome you to the launch of our 2017/18 Annual Plan. We’ve been operational for two years now, and would like to share with you our key aims and a summary of anticipated activities for the year ahead.

Just as crucially, today is an opportunity for you to provide your initial views on the PSR’s forward work plan, and to feed into the strategic issues we’ll be focusing on over the coming 12 to 18 months.

Our engagement with stakeholders through the means of bilateral meetings, roundtable discussions, consultations and annual surveys, has been a crucial element in all of our endeavours to date and we want to continue to build on that going forward.

We take your views very seriously and I hope that our commitment to consultation and transparency over the last few years has demonstrated what type of regulator we want to be.

In fact, we have recently asked many of you in in this room how you think we’re performing in our independent stakeholder perception survey. We will review the full findings of this survey, together with your feedback from today, and will ensure we continue to engage with you about this over the coming weeks and months.

Last year you told us that as a new regulator, we had started off well, but you were keen to see if we'd follow through and do what we said we would. A year on, I'm pleased that early feedback from our current survey suggests that most of you agree that we have delivered, and that we've communicated with you throughout.

Conducting this survey has been an insightful exercise for us, and my team and I look forward to continuing our open discussions with you on how we can do more of what we are doing well, and improve in areas where you feel we need to do more.

In our conversations with you, you’ve told us you would like to see more face-to-face interaction with us, and today is part of that journey.

We have come in listening mode and encourage you to take time today to reflect on what we’ve done in the last two years, on what has worked well and what hasn’t, as well as on where we’re going next.

We will be making sure we follow up this event with similar conversations across the country throughout the year, the first of which will take place in the summer.

But, I wouldn’t be doing my job properly if I didn’t point out that, as a regulator, we cannot always please everyone and we wouldn’t be doing what we are supposed to, if we did.

Our focus remains on meeting our statutory objectives that sit at the heart of everything we do in order to realise our vision. That is - to make payment systems work well for the UK economy and consumers, and to inspire confidence in the use of payment services.

We recognise the importance of listening to all your views and taking your considerations on board along the way - and that’s exactly what we intend to do today and going forward.

Journey so far

When the PSR was first set up, we