4860 Results from /payments
Retired Member
Congratulations to the FCA and PRA for lowering the barriers to create new banks. So far five new players have openly stated their intentions to enter the market. This is a good step forward, but these organisations have a great deal to do before they can open their doors to the waiting public. At the other end of the spectrum, the big, tradition...
23 July 2014 /payments
I first encountered Agile in 2000 when I implemented the DSDM methodology on a project for a large multinational computer manufacturer. My experience since then has invariably been that whilst many large organisations claim to be agile, the truth is that they almost certainly aren't and I see the same behaviours repeated over and over. Agile is no...
Not sure if the KYC being done by banks is mature enough to perform its true function using standard credit check agencies which have stood the test of time. Financial regulations have come out strongly in the wake of many incidents of security lapses and money laundering. Most Banking systems rely on SWIFT for information about banks using the BI...
23 July 2014 /security /payments
Bacs, the company responsible for the schemes behind the clearing and settlement of automated payments in the UK, celebrated a major landmark lat year - 100,000,000,000 transactions processed since 1968. 100,000,000,000. That’s 100 billion. A pretty impressive number, especially when you think that: About 100 billion minutes age, the Roman Empire...
22 July 2014 /payments
Going Digital is not just about mobility or mobile banking. There needs to be a pragmatic view of the full end-to-end banking process from initiation to settlement and confirmation where the benefits of going digital are fully realised. Most banking processes are not just limited to Forms screening, KYC and AML, there is often the need to enable
21 July 2014 /payments
In Africa, the use of simple phone based payments such as m-pesa are on the rise. The infrastructures are neither complex nor expensive. The unbanked markets are seeing huge growth in mobile payments and the face of payments are changing fast even as the west grapples with more regulatory complexities such as the Dodd-Frank, FSA and PCI DSS requir...
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
There’s no shortage of studies about the hidden costs of cash. Take this recent HBR report for example. On the face of it, they all make a solid case for society to turn cashless from tomorrow. However, upon scratching the surface, I’ve never found a single one of these articles penned by merchants who are the biggest victim of these purported hid...
There is no doubt that in order to remain competitive and thrive, banks are no different from any other business in that they need to grow, whether that is by increasing the number of customers or the profit that each customer generates. But this is not the whole story. Since the reality check of 2008, there has been much finger pointing at the f...
18 July 2014 /payments
Nick Ogden Chairman at Ogden Research
Great News today! At last we are going to get some action over lack of competition and the shape of the financial services market for the future but only if we all engage. Alex Chisholm, CMA chief executive, is quoted as saying it was "vital" that the banking sector worked properly, which was why the full eighteen month investigation was ...
18 July 2014 /payments /retail
How many of us can remember working in a pre-computer payroll office? Endless rows of filing cabinets. Walls covered in handwritten charts that had to be constantly updated by some unlucky person. Ashtrays on desks – anyone remember those? No computers of course – instead, personnel and payroll information was stored slap bang in the middle of your...
17 July 2014 /payments
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