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With the amazing speed & success of Google, cloud computing has emerged as the leading edge paradigm of computing architectures. The "newness" (or "fogginess", as the cynical banker is apt to think!) of this concept can be gauged from the fact that a Google search "define: cloud computing" results in zero results...
28 January 2008
Alan Goodrich Regional Sales Manager at ERI
On 5th March 1995 Dutch banking and insurance group ING bought Barings for £1 and assumed liabilities of over $600m. According to some McKinsey research presented by Mark Lawrence at a PRMIA event I attended in London on 18th December 2006, based on a sample of more than 350 operational loss events, normalized for industry performance, the decline ...
28 January 2008 /regulation
Just when you thought the subject had safely swam off quietly into deeper waters, frightened off by crazed French bankers; the debate resurfaces thanks to those nice analysts at Celent.
28 January 2008 /retail
Once again the vulnerability of global financial institutions is illuminated by the operations of a single individual. Today's announcement of EUR5 billion in losses at SocGen adds to an ever-expanding list of Nick-Leeson style trading debacles - Chinese metals trader Liu Qibing's copper loss of $100 million, a Mizuho broker's sale of 610,000 sh...
24 January 2008
It would seem that we have entered a period of bipolarity in global financial affairs. On the one side we have (Eastern) sovereign wealth funds charged with investing vast sums amassed through explosive economic growth (China, Singapore) or the skyrocketing price of oil (Saudi Arabia, Qatar, Russia) and on the other, (primarily Western) private se...
22 January 2008
Paul Penrose Head of Research at Finextra
Some recent headlines from the past month: Barclays chairman loses £10,000 in ID fraud scam Halifax facing Chip and PIN fraud lawsuit Dutch cops arrest 14 ABN Amro customers as phishing mules Phishing losses hit $3.2. billion in 2007 – Gartner Barclays faces protest over clunky PINSentry authentication Question: Are banks losing the plot – and the ...
11 January 2008 /security /payments
Mobile finance is indeed on the rise, and all indications are that this industry will be at the forefront of transformation in global financial services. This is perhaps no more apparent than in development finance where mobile technology is leveraged to deliver financial services to the unbanked. M-PESA, for example, a money transfer service ope...
07 January 2008
A lot is riding on the little piece of technology we have in our pockets. Besides the telecoms companies and handset manufacturers the most recent industries to stake their future on the 3ounce (85g) electronic gadget are Banks and the Music Industry. Both see the mobile device as the key to a rich and rewarding future. Google and Apple have wade...
03 January 2008 /payments
We’ve seen plenty of posts on this community that play with the idea of virtual currencies, the eradication of paper-based cheques and the ultimate demise of hard cash. The emergence of a truly digital economy has been a favourite topic of commentators and futurists since the first stirrings of business interest in the Internet in the mid-1990s. ...
02 January 2008 /payments /retail
Time to consider what the year ahead might have in store. Volatility and uncertainty seem to be at an all-time high making an already difficult project that much more challenging. What follows are what we believe to be the four key drivers underpinning financial affairs in the coming year. 1. U.S. Economy Overall, we expect 2008 to be a year of...
29 December 2007
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