Latest opinions that Bernd Richter has shared on Finextra

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Bernd Richter

SVP - FIS Impact Ventures

FIS

Member since

31 May 2013

Location

Frankfurt

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Bernd's opinions

The EU pension dilemma: Pan-European Personal Pension to the rescue?

Pension is known in the western world as income at age and what pays the bills, when one retires from his/her job life, what was put aside during work life. But not many actually understand how much is needed to be prepared for age or may be in false hope that state pension will be enough for a living. The EU recently progressed a Pan-European Per...

08 February 2020 /regulation /inclusion Trends in Financial Services

Payments as a service - a new normal future of payments?

Banks are increasingly outsourcing their core payments platform technology and operations. What seemed in past years far fetched even to consider has become a viable option. Is Payments as a Service (PaaS) on the brink of becoming the new normal for banks as technology-focused payments service providers are winning more and larger in scope mandate...

19 January 2020 /payments /cloud Payments strategies 2015-2020-2030

European Mobile Payments - the next chapter?

Yet another run on mobile payments in Europe - or really the next chapter to build a realistic and successful counterbalance to Apple, Google, Samsung, Visa, Mastercard and alike? An newly created alliance of European payment providers wants to create a pan-European standard for smartphone payments as an alternative that does not require Apple, G...

03 September 2019 /payments SEPA and European Payments

PSD2 What SHOULD It Stand For?

We all know the official definition: Payments Services Directive 2, but we should be looking at ‘alternative versions’. “Perfect Storm Digital 2”, “Premier Service Driver 2”, “Paradigm Shift Dynamic 2”? OK, they may never catch on as advertising slogans. But they all go some way to capturing the sense of excitement and opportunity that should be a...

05 April 2016 /payments /retail

Utilities are useful - global survey finds out

Across the financial industry a Capco/Finextra global survey confirms growing awareness that Utilities are useful – not least because of their potential to transform the way banks approach compliance. Now we know. This is more than ‘sourcing on steroids’. Utilities should be seen as a great deal more than ‘sourcing on steroids’. Well configured a...

08 March 2016 /regulation

Prepaid: a 'magic bullet' for retail banking?

Nobody disputes that it’s tough to succeed in today’s retail banking industry. Some would argue that only a magic bullet could transform the fortunes of ‘traditional’ banking in the post-Google and Amazon world. If such a bullet existed, what would be included in its list of superpowers? Ideally, it would cut operating costs. It would drive the a...

19 October 2015 /retail

DigiSourcing - accelerated development of digital banking applications

Wanted – New ways for banks to embrace successful digital innovation without ignoring old problems. We keep hearing that banks must do more to bridge the ‘digital gap’. But, in order to create and deliver the next generation of digital customer service experiences, they require a more predictably productive development environment. Banks are both...

01 September 2015

Another 'fine' mess? 300 billion US dollars in bank fines and counting...

Fines aren't fine any more. That should be a message resonating loud and clear around financial institutions, as another year of the rolling regulatory tsunami gets fully underway. We're braced for the ever-rising tide of compliance-related complexities and non-compliance penalties. We need more than 'business as usual'. Why? Because the numbers a...

23 June 2015 /regulation

Payments - time to revitalize a key revenue stream

Payments need to be profitable once again, as well as compliant. The good news is that they can be. Granted, payments are not the dependable cash cow they once were – a guaranteed profit producer, easy to maintain on a bed of legacy technology. The game is far from being over however. Making payments pay may be a challenge. But it’s by no means out...

04 June 2014 /payments /wholesale

The RRP Challenge: How far have you progressed?

Recovery and resolution planning (RRP) - yet more valuable resource diverted to compliance? Or can it be a source of deep structural understanding and competitive differentiation? To date, some 39 separate financial institutions have been the subject of EBA stipulations to comply and provide an RRP by the end of the year. With first deadlines loom...

13 June 2013 /regulation