May Lam is the Chief Information Officer at Australian Payments Plus (AP+), based in Sydney, where she leads technology, data and cybersecurity for Australia’s critical payments infrastructure. She also serves as Chair of the Advisory Board at Emerging Payments Association Asia, a Governing Council Member of Hedera, and a member of the CPMI API Expert Panel advising G20 leaders on cross-border payments harmonisation. With more than 26 years of experience across banking, payments, fintech and the public sector in Australia and the Asia-Pacific region, May is recognised for her deep payments expertise, ecosystem leadership and passion for delivering measurable outcomes, developing future leaders and advancing social responsibility. Recently, in an exclusive interview with CIO Magazine, May shared insights into her remarkable career journey driven by curiosity and a passion for solving real problems at scale. May emphasized the importance of diversity and inclusion in the payments industry, ensuring that systems are designed to serve everyone, not just the majority. She also shared her future plans, words of wisdom, and much more. The following excerpts are taken from the interview.

Hi May. Can you walk us through your career journey and what led you to become a leader in technology and transformation?

My career has been shaped by curiosity and a deep interest in how technology can solve real problems at scale. I began my journey as a software engineer in technology consulting and enterprise systems, working across Asia and Australia in banking, payments and public sector environments. Early on, I had exposure to large, complex transformations, including payment workflows, identity systems and financial platforms, which gave me a strong appreciation for the intersection between technology, regulation and customer outcomes. Over time, my roles evolved from technical delivery into broader leadership positions where I was accountable not just for systems, but business outcomes, culture and strategy via roles in finance, risks, products, operations and governance. I have worked across global banks, fintechs, startups and large enterprises, including senior leadership roles at Westpac, AMP Bank, Assembly Payments, Partner at EY and now Australian Payments Plus. What ultimately led me into technology and transformation leadership was the opportunity to operate at that intersection of trust, innovation and scale, particularly in payments, where technology underpins economic activity and social inclusion. That responsibility continues to motivate me today.

What do you love the most about your current role?

What I enjoy most about my role at Australian Payments Plus is the sense of purpose. AP+ operates critical national payment infrastructure that Australians rely on every day, often without thinking about it. Knowing that the decisions my team and I make directly influence the resilience, safety and innovation of the country’s payments ecosystem is both humbling and energising. I also value the opportunity to lead at ecosystem scale. My role is not just about internal technology delivery, but about working with members, banks, fintechs, merchants, regulators and global partners to shape the future of payments in Australia. Building trust, aligning diverse stakeholders and enabling innovation while maintaining stability is a complex challenge, and that balance is what makes the work so rewarding.

What role do you think artificial intelligence and machine learning will play in shaping the future of payments?

Artificial intelligence and machine learning will fundamentally reshape payments by moving the industry from transaction processing to intelligent decision-making. In the near term, their impact is already evident in areas such as fraud prevention, scam detection, operational resilience and customer support, where real-time data and pattern recognition materially improve trust and efficiency. Looking ahead, the emergence of agentic commerce will be a significant inflection point. As AI agents become capable of acting autonomously on behalf of consumers and businesses, payments will increasingly be embedded, contextual and proactive e rather than initiated explicitly by a human. AI agents will be able to compare options, negotiate prices, manage subscriptions, optimise cash flow and execute payments dynamically within guardrails defined by the user, the merchant and the regulator. This shift will require payments infrastructure to evolve beyond speed and availability to support programmability, identity, consent, explainability and accountability at scale. Trust will become even more critical, as autonomous agents transact in real time, often across borders and platforms. That means strong governance, transparent AI models, secure digital identity, and clear liability frameworks must be designed into the system from the outset. In this future, AI is not just optimising payments; it is redefining how economic interactions occur. The organisations that succeed will be those that embrace agentic capabilities responsibly, balancing innovation with resilience, regulation and consumer protection, and ensuring that autonomy in commerce enhances human outcomes rather than undermines trust.

Can you share your thoughts on the importance of diversity and inclusion in the payments industry?

Diversity and inclusion are fundamental to building a payments system that genuinely serves society, not just because of who works in the industry, but because of who relies on the outcomes it produces. Payments are a basic economic utility. When systems are designed without diverse perspectives, we risk unintentionally excluding people who are already underserved, whether that is due to socioeconomic status, disability, cultural background, geography or access to digital infrastructure. Inclusive teams are better equipped to recognise these gaps and design solutions that work for real-world complexity. This includes thinking about accessibility, affordability, language, digital literacy and trust, particularly for communities that may be underbanked or vulnerable to fraud and scams. Technology can be a powerful enabler of financial inclusion, but only if it is built with empathy and an understanding of lived experience. In the payments industry, inclusion also means ensuring that innovation does not widen the digital divide. As we introduce real-time payments, digital identity and AI-driven services, we must ensure that safeguards, choice and education are embedded so people are not left behind. That responsibility sits with leaders, regulators and ecosystem participants alike. For me, diversity and inclusion are not separate from performance or resilience. They are central to building payment systems that are trusted, accessible and fit for purpose in a diverse society, and to ensuring that innovation delivers benefits not just for the majority, but for those who need it most.

How do you stay current with global events and trends outside of the payments industry?

I make a conscious effort to stay curious beyond my immediate domain. I follow global economic, geopolitical and technology trends through a mix of trusted news sources, research publications, podcasts and thought leadership from different industries. I also learn a great deal from conversations with peers and vendors across sectors, whether that is technology, public policy, energy or healthcare. Spending time outside the payments bubble helps me bring broader context into decision-making. Many of the challenges we face in payments, such as trust, resilience and digital inclusion, are mirrored in other industries, and there is enormous value in learning from those parallels.

What's a book or resource that has had a significant impact on your thinking recently?

I don’t usually read just one book at a time. I tend to move between philosophy, leadership biographies and systems thinking, depending on what I’m grappling with at work or in life. I find Eastern philosophy, particularly thinkers like Confucius and Laozi, very grounding in how they frame leadership as responsibility, balance and service. From the Western tradition, thinkers like Aristotle and Marcus Aurelius resonate with me for their emphasis on virtue, accountability, self-governance and disciplined decision-making under pressure. Systems thinking also shapes how I interpret those ideas in practice. It reminds me that organisations and payment ecosystems are living systems, where small decisions can have wide and sometimes unintended consequences. Leadership biographies bring that to life, particularly in how leaders manage uncertainty and develop emotional agility, staying aware of their own reactions while responding thoughtfully rather than reactively. Together, these perspectives help me stay anchored. They reinforce that good leadership in technology is not just about moving fast or being innovative, but about understanding complexity, leading with empathy and making decisions that hold up over time.

If you could travel anywhere in the world, where would you go and why?

I would love to spend more time in places where history, culture and innovation intersect. Cities that embrace deep heritage with modern thinking offer perspective and inspiration. Travel gives me the opportunity to slow down, reflect and see the world through a different lens, which ultimately makes me a better leader.

What is your biggest goal? Where do you see yourself in 5 years from now?

My biggest goal is to contribute meaningfully to levelling the inequality of wealth distribution. Payments and financial infrastructure sit at the foundation of economic participation, and when they are designed well, they can enable access, mobility and opportunity. I see it as a social responsibility to ensure that technology does not simply optimise for efficiency or scale, but actively reduces barriers and creates fairer outcomes for individuals, businesses and communities that have historically been underserved. In five years’ time, I see myself operating at a broader level of accountability and influence, enabling ever-evolving technology advancements in shaping strategy, culture and long-term value creation across an organisation or ecosystem. I am deeply motivated by roles that require integrating technology, people and purpose, and where decisions have enduring economic and social consequences. Equally important to me is paying it forward. I am keen to spend more time cultivating the next generation of leaders and technologists, helping them build judgment, confidence and ethical awareness as they navigate an era of unprecedented technological acceleration. Supporting people to grow, think critically and lead with humanity in the age of AI is something I see as both a privilege and a duty.

What advice would you give to someone just starting out in their career in technology and transformation?

I would encourage them to stay curious and invest in continuous learning, not only technical skills, but how organisations, people and systems really work together. Technology changes quickly, but the ability to think critically, communicate clearly and understand context will always matter. Seek out experiences that stretch you, even if they feel uncomfortable, because that is often where the most meaningful growth happens. Equally important is developing self-regulation and discipline early in your career. In fast-moving environments, particularly in technology, it is easy to be reactive or overwhelmed. Learning how to manage your energy, emotions and focus allows you to make better decisions, build credibility and sustain performance over time. Discipline creates optionality; it gives you the space to respond thoughtfully rather than simply reacting to what is urgent. Finally, build relationships and find mentors who will challenge and support you. Pay attention to how you show up, how you listen and how you learn from others. A successful career in technology is not just about what you know, but about how you grow, adapt and lead yourself through constant change.