MONEYGRAM ORDERED TO PAY WESTERN UNION $16.5M IN PATENT CASE. Interesting issue - the patent question. Unless Western Union created processes that were truely innovative, how can you get a patent for what is essentially a common business practice? That's just a little less absurd thant getting a pa...
Tags: PaymentsI find it ever so fascinating to scan the economic news each morning. Doing so reminds me that old curse "May you live in interesting times". As almost anyone will tell you, our world market situation is certainly interesting. What it is not, is enjoyable. Our goal as a civilization, and my goal as ...
Tags: Retail banking09/02/2009 | 1234 views | 1 commentLehman Bros. didn't fail? What? Shouldn't the association with a major failure in the financial markets be enough to disqualify Xavier Rolet as the cheif of the world's leading exchanges? I could be mistaken but I don't think that failure should be rewarded. Any key executive of a failed investment firm should not be in a po...
Tags: RiskLate last week I was at a 1-day conference on "GRC" in I.T.
For the uninitiated; Governance, Risk , and Compliance or "GRC" is a term that reflects a new way in which organizations adopt an integrated approach to these three interrelated areas. However, GRCis often positioned as a single business...
We hardly ever question the benefits of STP. And for the most part, STP is really a smart move. It saves on errors, manpower, time and increases profits. What's there not to like about it?
Well, you already know that's a trick question on my part because I'm going to answer it myself. STP can becom...
Tags: Payments, Retail banking
15/12/2008 Is it really all doom and gloom?1196 views
Tags: Payments, Risk
04/09/2008 Who's paying the EUR 21bn?1747 views
Tags: Payments, STP
11/08/2008 We need an olympics in financial markets1121 views
Tags: Dealing rooms, Risk