CaixaBank’s Xavier Herrero joins InstaPay Advisory Board


CaixaBank’s Xavier Herrero has joined the InstaPay Advisory Board as its newest member, which is in-line with a recruitment drive to increase the number of bank representatives. He joins ANZ’s Anne Collard on the Board.

Based in Barcelona, Spain, Xavier Herrero is the Head of Group-wide Payments (GDS Cusa) at CaixaBank Group. He is also a member of:

  • EBA Clearing’s Instant Payment Working Group;
  • European Central Bank’s (ECB) TIPS Contact Group;
  • & the Euro Retail Payments Board (ERPB) WG on Payment Initiation Services (PIS), Identification and application programming interface (API) Subgroups.

This well respected senior instant payment industry professional has also worked as Director of Correspondent Banking, Trade Finance and Supply Chain Finance at CatalunyaCaixa from 2010-2016 and held prior jobs at Caixa Manresa and Caja Madrid.

Xavier started his career at Banco Sabadell in 1990 serving in various banking and payment roles there for 17 years after emigrating from Russia where he was trained as an economist. Initially he was Area Manager for the former USSR Republics, Turkey, Middle and Far East. He has a Diploma from the Universitat de Barcelona in economics and similar qualifications from Saint Petersburg State University and the Lomonosov Moscow State University (MSU).

Xavier will advise InstaPay about how banks can connect and integrate new instant payment schemes into their operations and benefit from the increased functionality, while also monitoring the advance of the single euro payments area (SEPA) instant credit transfer (SCT Inst scheme in Spain and across the continent. The latest statistics from the European Payments Council (EPC), designers of the scheme, show that 1,043 payment service providers (PSPs) from 13 countries, 25% of the total in Europe, have so far registered as participants, with 86 of these from Spain. The Spanish clearing and settlement mechanism (CSM) Iberpay is already hosting the system and offers cross-border connectivity via EBA Clearing’s RT1 platform.

InstaPay’s Advisory Board consists of distinguished figures from the payments industry, including representatives from McKinsey & Company, The Clearing House (TCH) and Vocalink, among others. The Board use their extensive experience and knowledge to collectively alert InstaPay about emerging trends in instant payments, challenges being experienced around the globe, new schemes coming online, technical issues, and so on.

Commenting on his decision to join the Board, CaixaBank’s Xavier Herrero, said: “Instant payments have recently come to Spain and the wider European region as part of the SCT Inst scheme to which banks and clearing and settlement mechanisms (CSMs) are now connecting. We are seeing the same trend towards real-time payments (RTP) in the US, in Australia with its New Payments Platform (NPP), and in many other countries around the world.

I am looking forward to joining the InstaPay Advisory Board and advising them about their editorial calendar, developments in the European industry, bank integration and migration challenges and so on – not to mention meeting my distinguished colleagues on the Board from TCH, ANZ and so on in what is an expansive time for the sector. Integrating these new platforms and services into bank operations is the next stage and I will bring this expertise to the Board.”