Transaction Banking

A community for discussing technology trends, views and perspective in global transaction banking

Steve Morgan Banking Industry Market Lead at Pegasystems

BANKS ARE UNDER PRESSURE TO REDUCE FRICTION IN CROSS-BORDER PAYMENTS - BUT HOW?

For commercial banks, a nagging issue is how to improve cross border payments. Compared to domestic payments they are more expensive, cumbersome and take longer to carry out. But despite banking technology coming on leaps and bounds, why do they remain such a costly headache? The root cause is down to the disparities between financial regulation a...

15 November 2019 /payments

Retired Member 

Global Trade Finance move to digital

Trade Finance is possibly the last cottage industry in financial services. Trade finance originally started out as a specialist area, often known as the International Department. There are similarities to international payments, with banks forming SWIFT in the 1970’s to help facilitate the movement of payments across different standards and channe...

09 October 2019

Retired Member 

Digital Transaction Banking ....as SIBOS 2019 draws to a close....

On the first day of Sibos My Transaction Banker gave to me A current account and OD facility On the second day of Sibos My Transaction Banker gave to me Two virtual accounts And A current account and OD facility On the third day of SIBOS My Transaction Banker gave to me Three sweep structures Two virtual accounts And A current account and OD faci...

26 September 2019 /sibos

Bob Lyddon Consultant at Lyddon Consulting Services

Crummy CReM code Part VIII and the low standards for firms to meet

This is the eighth and final blog in our series on the Contingent Reimbursement Model code (“CReM”) that purports to offer customers strong protection against certain types of Authorised Push Payment Fraud, or “APPF”. This one concerns the “expectations” and “standards” that firms should abide by, if they are signatories to the code. Firms have to ...

17 March 2019 /payments

Bob Lyddon Consultant at Lyddon Consulting Services

Crummy CReM code Part VII and customers’ added responsibilities

This is the seventh blog out of eight in our series on the Contingent Reimbursement Model code (“CReM”) that purports to offer customers strong protection against certain types of Authorised Push Payment Fraud, or “APPF”. It adds considerable work for the customer and in doing so reduces the numbers who will be able to make a successful claim. With...

15 March 2019 /payments

Bob Lyddon Consultant at Lyddon Consulting Services

Crummy CReM code Part VI as customers’ baseline rights are overridden

This is the sixth blog out of eight in our series on the Contingent Reimbursement Model code (“CReM”) that purports to offer customers strong protection against certain types of Authorised Push Payment Fraud, or “APPF”. In it we discuss how customers’ baseline rights in law are overlooked. The CReM fails to adequately qualify what happens in an AP...

14 March 2019 /payments

Bob Lyddon Consultant at Lyddon Consulting Services

Crummy CReM code Part V few customers covered, voluntary for firms, and dependent upon CoP

This is the fifth blog out of eight in our series on the Contingent Reimbursement Model code (“CReM”) that purports to offer customers strong protection against certain types of Authorised Push Payment Fraud, or “APPF”. Here we focus on who qualifies for cover, who is offering cover, and the vague contingency of cover on the as-yet non-existent Con...

14 March 2019 /payments

Bob Lyddon Consultant at Lyddon Consulting Services

Crummy CReM code Part IV, and ensuring validation of mandatory data at the beneficiary firm

This is the fourth blog out of eight in our series on the Contingent Reimbursement Model code (“CReM”) that purports to offer customers strong protection against certain types of Authorised Push Payment Fraud, or “APPF”. We made the point in Part III that firms demanded Name + Sort Code + Account Number as mandatory information for instruct...

12 March 2019 /payments

Bob Lyddon Consultant at Lyddon Consulting Services

Crummy CReM code Part III, cause of 'wrong name' APPF and customer’s current legal protection

This is the third blog out of eight in our series on the Contingent Reimbursement Model code (“CReM”) that purports to offer customers strong protection against certain types of Authorised Push Payment Fraud, or “APPF”. It doesn’t, not least because it fails to set out, as a baseline, what the customer’s rights are in law now under the 2017 Payment...

11 March 2019 /payments

Bob Lyddon Consultant at Lyddon Consulting Services

Crummy CReM code Part II bizarre choice of types of fraud covered by it

This is the second blog out of eight in our series on the Contingent Reimbursement Model code (“CReM”) that purports to offer customers (also known as Payment Service Users or “PSUs”) strong protection against certain types of Authorised Push Payment Fraud, or “APPF”. This one is on the types of fraud covered by the CReM. APPF comes in two main fl...

10 March 2019 /payments