Profile

Location

Brussels

Member since

2017

Reads

Capilever Bankloch Blog

Writes about

Security Payments Regulation & Compliance People Wealth management Retail banking Sustainable Cloud DevOps Start ups Financial inclusion Cryptocurrency Markets Financial Crime Predictions

Joris's blog archive

2024 (5) 2023 (23) 2022 (13) 2021 (16) 2020 (35) 2019 (14) 2017 (1)

Joris Lochy

Product Manager at Intix | Co-founder at Capilever

Message Posts: 117 Comments: 17

Bio Independent Product Management Consultant, helping customers in the Fintech space to innovate, i.e. from ideation to conceptualization to implementation, taking on different roles and responsibilities (business analysis, functional and technical design, solution architecture and project management). Career History Active in the financial services industry, since 2003: - 8 years at Accenture - 3 years at CSC - 3 years at Deutsche Bank - 3.5 years at The Glue - 4.5 years at Monizze

Blogs

Big Data

From Transactions to Insights: The Journey of Bank Payment Data

23 Apr 2024

It is often stated that 'Data is the new oil', suggesting that data, like oil, holds immense value but remains unusable if unrefined. While this comparison simplifies, it effectively highlights two significant trends: A fierce competition to capture as much customer data as possible, waged not only by Big Tech and social media giants but also by ...

Digital Banking Trends

The Future of Banking: Beyond Products, Towards Experiences

15 Apr 2024

The financial industry is undergoing a significant transformation. Banks are evolving from mere repositories of money and providers of loans and investments into facilitators of our financial journeys and personal assistants in financial well-being. This shift marks the beginning of an era characterized by embedded banking and deproductization. Tr...

Banking Regulations

Safeguarding Finance: The Crucial Role of Sanction Screening

18 Mar 2024

Financial crime continues to be a major issue, undermining the trust and safety of global financial systems. The United Nations estimates that a staggering 2 to 5% of global GDP, or between EUR 715 billion and 1.87 trillion, is laundered each year. Moreover, about 50% of companies worldwide have experienced fraud in the last two years, underscorin...

Payments strategies 2015-2020-2030

The Fraud Puzzle: Assembling the Pieces of Payment Security

04 Mar 2024

Following our previous blog 'Rethinking AML: A Call for Innovation and Efficiency' ("https://bankloch.blogspot.com/2024/02/rethinking-aml-call-for-innovation-and.html"), where we navigated the complex world of AML and pinpointed three primary categories of malicious financial activities: Money laundering: Transforming proceeds from ill...

See all Joris's blogs

Joris is Commenting on

The Unseen Backbone of Banking: A Deep Dive into Matching and Reconciliation

If the payment amount is not matching in full with the invoice for a legitimate reason, it can still not be handled by the structured comment, but it should be possible for the matching to correctly handle this (and expect / anticipate this). If invoice indicates that 80% should be paid on delivery and 20% on installation, it is possible to use 2 times the same structured comment, but obviously you will expect then 2 payments on different payment dates.

07 Dec 2023 Reply Read article

The Unseen Backbone of Banking: A Deep Dive into Matching and Reconciliation

Thanks for the feedback. The "checksum method" in Belgium unfortunately does not solve the issue that customers pay the incorrect amount. The structured comment put on a lot of wire transfers in Belgium is a 12 digit code, for which the checksum is just a modulo 97 of the first 10 digits. So checksum guarantees quite well that the right structured comment is entered, but it does not guarantee if right amount is used. For this, many companies work with QR codes on their invoice (and in future SEPA Request-to-Pay could be used), but a lot of customers don't use this QR code, so issue with incorrect amounts remains indeed a big hassle for most companies.

04 Dec 2023 Reply Read article

Beyond the Surface: The concept of Underbanked in Developed countries

Scott, thanks a lot for the feedback. Much appreciated. Indeed even though the list of examples I gave in the article is already quite long, this list is far from exhaustive. A few more examples are: * Discrimination against certain minorities. Although laws exist to avoid this, we can not ignore there is an inherent (often unintentional) bias both in the automated risk algorithm and manual risk decision process. This means that certain minority groups are definitely "underbanked". * For medical insurance, obviously people with a history of cancer is not the only example. Everyone with a history of medical expenses or pre-existing conditions might be impacted. In many countries medical insurances are even more expensive for women, due to the expected medical costs associated with child birth. * Any form of non-traditional employment. In the blog I refer to freelancers and gig-workers, but obviously other non-traditional roles like e.g. artists, performers, or creatives are also impacted. * People with disabilities might need specialized financial products and services that aren't widely available or are offered at higher costs. * Language barriers for non-native speakers * Temporary Residents and people doing remote work (due to complex tax regulations) * ... Clearly the list is enormous, leading to a considerable percentage of the population being underbanked in some form.

29 Aug 2023 Reply Read article

In the Blink of an Eye: How the Digital Age Intensifies the Risk of Bank Runs

Sorry, I think there is a misunderstanding of what I meant here with term deposits. Indeed obviously if the bank invests my saving deposits in term deposits or any othe bonds this doesn't change anything to the liquidity of my saving deposits. What I mean here with term deposits, is that the customer invests directly his excess saving deposits in term deposits. This could be government bonds, but also term deposits offered by the bank. It's this last type I am referring to here. When term deposits are offered by the bank, the amount and duration can be very flexible, making it a good complement for saving deposits. The big difference with those term deposits (typically with maturity of 3, 5 or 10 years), is that the customer has to pay a penalty if he wants to liquidate them before maturity date. This makes the customer less inclined to quickly liquidate in case of a panic.

04 Jun 2023 Reply Read article