4855 Results from /payments
Retired Member
How will global regulatory changes impact UK financial institutions? This was the very question we asked at a recent Logica event on global regulatory reporting, held at the British Bankers’ Association (BBA) and attended by a number of tier one financial institutions. Guest speakers included Simon Hills, executive director at the BBA, Michael Dav...
19 July 2011 /payments /regulation
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
When Denmark legislated against paper invoicing in the public sector (including municipalities) back in 2005 service providers (including banks) where not ready with easy solutions for the SMEs. The solution was that enterprises where told to go to the local post office to have invoices scanned. The state paid the cost. Many enterprises (worldwide...
19 July 2011 /payments Innovation in Financial Services
We read that PayPal is moving into e-invoicing. Natural step for anyone who wants to stay in the payments business = keep the funding and profitability transaction accounts offer. Some banks have not yet seen the need to make the choice - keep the profitable and stable funding intact or not. In the same news we also read: "Separately, the US ...
OK. If you have been following my blogs... You will know that I am investing my time and energies into person to person lending. With a wave of person to person lending start ups over the last few years, the model has proven to be viable (While very early still). For those of you not familiar with person to person lending it is like a marketplace...
18 July 2011 /payments
The news from the UK Payments Council that cheques will no longer be forcibly scrapped in 2018 has, perhaps inevitably, received mixed responses. For the banks, issuing, handling, securing and processing cheques is expensive and time consuming – a cost that in the end has to be passed on to customers. However, consumer groups, especially those repr...
14 July 2011 /payments
In my last post, I discussed the recent findings published in the 2011 AFP Payments Fraud and Control Survey which concluded that the rate of payments fraud attacks remains stubbornly high. Continuing with this topic, here are some industry best practices for combating payment fraud as it relates to B2B A/P payments. A single, centralized system ...
06 July 2011 /payments Payments strategies 2015-2020-2030
In my earlier blog I mentioned 7 innovative concepts a bank should embrace. Summarized, these were: Contextual relevance, social relevance, multi-channel presence, fun, simplicity, interactivity and networked business models. In this follow-up post we explore how banks could apply these innovations into the next generation of customer centric bank...
06 July 2011 /payments Online Banking
Brett King CEO & Founder at Moven
There’s a philosophy I characterize as “Lucky to be a customer” within banking today. A customer comes to the bank, we make him jump through hoops we often call risk assessment, customer profiling or KYC, and then maybe, if they are not too risky a proposition, we might let them be our customer. This philosophy comes not from a monopoly play as a ...
05 July 2011 /payments Finance 2.0
Vilmos Levente Kovacs Managing Director at Simplexion Informatikai Kft.
Speculations are recrudescing over and over about the existence of European Monetary Union connection of deepening of Greek crisis. But the integration of financial systems are not seems to be stopped indicates the strength of Monetary Union. The project manager of Target2-Securities that implement interoperability to European securities market ho...
05 July 2011 /payments Payments strategies 2015-2020-2030
I attended a very good innovation meeting last week and there one senior banker said that innovations in banks are so difficult because there is an obsession with business cases. No innovation investment is allowed to fail (is this attitude imported from credit risk evaluation?) and the endless business case argumentation actually puts innovative ...
04 July 2011 /payments Innovation in Financial Services
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