Community

Cheque not only survived Mobile Banking but made Mobile RDC a killer app of Mobile Banking. Let's see if Blockchain Cheque Registration becomes the killer app of Blockchain.

While Visa is seen as a card network, it could be argued that Visa is also a marketplace. At the highest level is Visa, the marketplace operator. At the next level are Acquirer Banks and Issuer Banks who act as Visa's Agents to onboard Merchants and Consumers respectively. At the last level are Merchants who sell goods / services and Consumers who buy goods / services. Ditto for MasterCard and other leading card networks.

Do you agree?

On a side note, can you define / exemplify "major brands" in the context of 'Anne argued quite the opposite saying that 50% of companies queueing to join their marketplace are “major brands”.' - it's not clear whether it refers to major fintech brands or major brands in any product category.

Totally agree - both as business owner and fintech professional.

Enhanced Remittance Data Could Multiply Electronic Fund Transfer Volumes

Why don't they conduct these surveys BEFORE they decide to accelerate FPS and (apparently) decelerate Enhanced Data?

Based on personal experience, I also suspect people will soon start clamoring for proof of receipt rather than faster payments. When I used to pay my college fees 30 years ago, I paid by cash and got a paper receipt across the counter. Whereas, when a friend paid his college fees, the amount was 1000X more, he paid by realtime IMPS, but it took 7 months to learn that the payment had failed.

The technology and data to use demographics and psychographics to make targeted offers, Next Best Offers, etc., has been around for a while. Fortunately or unfortunately, as I highlighted in my post Banks Will Know Chipotle Is Going Bankrupt Before Chipotle, consumers tend to be very skittish about being targeted when it comes to health and money. That's a challenge that banks need to work through before moving forward in this space.

@Craig Lawrance:

"Challenging fraudulent transactions on a bank-issued static card account remains a painful and time-consuming experience."

Uh oh, I thought not only challenging a fraudulent credit card charge but even getting it reversed was a matter of a simple phone call anywhere outside India.

@Harish Narayanan:

I've heard of only way to prevent pilferage from mobile self-checkout so far. In this method, customers place their shopping bag on a weighing scale. A shop employee tallies off the expected weight (computed from order) against the actual weight (read off the scale). Apparently, this method works only below a certain threshold of weight - 3 kgs if memory serves - because, as the number / weight of items rises, it's not difficult to pilfer a costlier product by scanning a cheaper product that weighs about the same. As a result, above the weight threshold, the shop employee empties out the shopping bag and tallies actual items against the list of billed items. Not a very great CX, if you ask me, but this is the only method I've heard of so far.

I recently learned that it's possible to de-anonymize most anonymized datasets on consumer-grade laptops by using algorithms like the one from Narayanan and Shmatikov. A partial deanonymization of 1.1B anonymized taxi rides in NYC can be found at https://tech.vijayp.ca/of-taxis-and-rainbows-f6bc289679a1. I hope IBM's "cryptographic desensitisation engine" will produce pseudonymous data that is impervious to these de-anonymization techniques.

Ah, so there's already an app for that! My paper payslip showed me the figure once a month "by default" and your app doesn't have that setting. One more reason why I like the "omnichannel" approach - paper sometimes, app some other times:)

If not £5, then £100? Will that make a difference? Or has it gone too far down the tube to matter, as the aforementioned banker hinted to me - that was before GFC struck and stock prices nosedived. 

How do you use pension daily - I thought pension can be accessed only after retirement?

AI and Data Analytics are just the enablers - obviously the target is the communications and messaging fueled by them. Keen on knowing if MAS is evolving similar guidelines for "responsible and ethical" use of TV, Newspaper and Billboards in the financial services sector.