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Andres, "disruptive business models" do not create new jobs, individuals do.  The key issue is whether among "55,000 individuals who have been put on the street since the crisis began in 2008" there is one or two who is willing to take the risk to start up disruptive business banking.  My own experience in dealing with Spain and that of some colleagues is that most of 55,000 will whine but nobody will be willing to become an entrepreneur to create new jobs.

I fully respect Elizabeth but believe she is quite wrong in this case.  I have little symphathy for the 5 in the window, as they should be able to create their new workplace by adding value to the very people they serviced for ages, whom they know well and who do not own them a living (they obviously all vote with their credit cards by going to Amazon).  We are almost all in the same boat here and experience the same situation time to time, being pushed out of the old jobs.

A little bit more of tough love in new disruptive economy, Elizabeth, will go a much longer way here in helping these fortunate people.  You were able to create a new work place far from Idaho or whatever, and so could they, if they put their mind to it.  (In some sense it is actually good that they at least advertize their challenge rather than drink it out at the local pub sitting on a dole; I salute them for it).

A decisive banker is by far more an oximoron than military intelligence.

Enrico, I generally like it and will use it in our article but would change it from the old reactive "banking paradigm" to the new proactive "corporate paradigm" definition -- by substituting just one word.

It is not optimise but monetize!  I don't think the banks would even know how to optimize it, as it should absolutely include optimization of the Global Value Chain as well; you can't optimize just the capital/payment component -- or the goods would never come on time.  One more reason that SCF should be driven by the corporates.

A sea of difference.

Regards

Nahum Goldmann

Paul, your list might or might not be accurate but you somehow forgot 2 top reasons that by far define the IT/software industry:

1) Client CIO's first and foremost loyalty is usually to his/her own morgage and transportability of his skills.  When the project fails the original CIO is already likely being far far away.

2) Vendor upsells what s/he has, never downsells (is it a word?) what the client needs - explicitely or implicitely.

Exceptions do happen - according to the numerous stats as much as 4% of all large IT projects are on time and within the budget.  If the client is that lucky, he should visit Makao.

Excuses, excuses, excuses...

Sincerely

Being There.

A substantive and though provoking study, as one could expect from the Aite Group that recently positioned itself among the world leaders in the FI market research.

Whether or not one agrees with the conclusions of the UK Vickers report that banks' retail and investment businesses must be separated, with Basel III capital and regulatory requirements the profitability of the investment part could no longer be taken for granted.  This, in turn, will mean the end of cross-subsidization for typically unprofitable and badly organized banking retail operations.  One way or another, the post-crisis worldwide banking industry is likely to be split among diverse product lines, each of which will be fully expected to ensure a profit.

With change and risk being taboo words in the conventional financial industry, a demise of the old banking paradigm will instigate plentiful profitable and sustainable opportunities for the new independent payment entrants.  Enrico Camerinelli’s analysis is right on the money in that transactional B2B payment hubs with the global reach can only emerge with the support of intelligent e-invoicing enablers.

In turn, for the struggling corporates proactively involved in the global trade, e-invoicing can radically improve the Governance, Risk Management and Compliance (GRC), which is critical for their sustainability.  As well, for each comprehensive Supply Chain Finance transaction it can facilitate incorporating of numerous potentially profitable elements -- such as liquidity management, currency exchange, international money transfer, hedging, insurance, taxation, financial reporting and accounting.