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Interesting perspective. People Power is an advantage as well as an disadvantage for BRIC mainly China. Its not just the production but also consumption, for instance, we read Apple's ipad consumption fears in china at the same time as exploiting labor in china.

I am personally quite surprised & impressed at how a huge nation like China has come together internally and has become a mega factory especially with language barriers to meet the ever growing demands of the west.

NCCGroup's data says.. Russia has over 12% of global hacks originating there, compared to just 3.5% in the previous findings. This huge leap has cemented its position in 3rd, behind the United States and China. There was also a significant rise in hacks from the Netherlands, up from 3.1% to over 11%, moving it into 4th place in the hacking chart. And UK is on 7th position. 

have been hearing a lot on 'Customer Experience' and few interesting bits fesp from IPS2012, its a no surprise that banks 'internal customers/employees' are considered for using thier mobiles. Most employees (esp in UK) would anyways have 2 handsets BB and an iphone, and may provoke them to have one instead. Though push mail is possible (I have used it), orgs cannot impose restrictions like mandatory lock/pwd on an iphone (no enterprise server!) which i am sure apple would come up soon controlling through iTunes Enterprise Server!

Is there anything like risk free trade? Risk systems may have a long way to go esp in OTC space where there would be overrides!

There is a bigger bridge to cross for banks when it comes to Coroporate-to-Bank initiatives. I would say M&A, Regulations and ReOrgs re-prioritizes these initiatives and the spend. Payments Hub has different functions with different banks, some have centralised it for local country (across corporate, retail..) some are trying global hubs which adds complexity to its surrounding systems (GL, Lookups, Risk and Online). 

Business is to make profits and also losses! I would sympathise with this trader for sure and its to a larger extent organisations fault to have faulty systems to allow such trades. what if the same rogue trader had made profits of $2bn, no media would have bothered?!

well final words from the regulators to push the banks :) 

Thanks RG.

Specifically on bargaining power/negotiation, there are few solutions which are obvious choice due to fitment but still struggle on getting a at-par deal.

To your earlier comment, ofcourse there cannot be a business case for implementing ISO20022, but coincidently most of the banks (atleast in UK!) are on a major transformation drive helping implement the new format.

- To support increase in volumes in thier Global Txn banking business and they also have to retire thier multi-decade old mainframe systems (chk the blog

https://www.finextra.com/blogs/fullblog.aspx?blogid=1844)

- Implementing compliance (SEPA, FPS)

- Acquisitions and increasing global footprint

-Sid

I have been using ISO20022 for more than 2yrs now, comparing my pre-ISO20022 days, most interfaces were Pt-2-Pt and txt (then mostly MT based).

With XML as an evolving format with Java in steep use, ISO20022 has helped all banks, particularly in payments across the Supplier Chain - Product Suppliers, Banks, Corporates to commonly agree and exchange data. Though there are still numerous issues around the formats, DTDs, etc.. but thats how Common industry-wide formats evolve.. i believe!

:-)

Am surprised that its not 100% in most countries! May be Linked-in could be an exception for 'professional' networking :-)