4813 Results from /payments
Paul Penrose Head of Research at Finextra
Swift chairman Yawar Shah opened an unexpected can of worms when he approached shareholders for feedback on how the bank-owned co-operative could add more value to its members. Obligingly, Ibos MD Bob Lyddon has responded with a long list of complaints about Swift’s new Alliance Lite interface, which is being showcased at Sibos as a cheap and che
04 September 2008 /payments /wholesale Finextra@Sibos
Stanley Epstein Associate at Citadel Advantage Group
If you really want to boost the EU's economic fortunes, improve its competitiveness and facilitate its progressive adaptation to the digital age then you need less regulation, not more. And the best regulation is often no regulation at all. Innovation needs space to breathe and to flourish, and to do that it should be as unfettered as possible. T...
04 September 2008 /payments Innovation in Financial Services
If the Misys data are correct we are sitting atop a volcano that is just about to blow! Firstly forty one percent of failed cross-border transactions is appalling! This means that almost every second cross-border transaction is not passing muster. This also raises two very clear and critical issues - transparency and operational risk. On the trans...
04 September 2008 /payments /regulation Operational Risk Management
Richard Barr Principal Associate at Citadel Advantage Ltd.
Let me get this right... The banks are paying EUR 21,000,000,000 a year for payments not going STP? Not likely! SEPA directives are quite clear in what information a customer must provide for a SEPA payment. If there's an error in STP due to data errors, it's likely the customer is at fault, or will at least take the blame. Almost all banks, if no...
04 September 2008 /payments
Retired Member
It's all very well that there is missing or incorrect reference data such as IBAN and BIC, but some things seem so simple to address, and yet they somehow fall by the wayside... It is a given that one of the biggest obstacles to STP of inbound cross-border payment messages, at least for those of fairly large reportable amounts, is central bank repo...
03 September 2008 /payments SEPA and European Payments
If you want to see the real-world impact of interchange regulations, the best place to look is obviously Australia. This is a country where the most sweeping changes to the interchange model have taken place, a country seen by regulators everywhere as something of a model to learn from. If you can’t go to Australia to learn first-hand (maybe you'...
31 August 2008 /payments SEPA and European Payments
Hubert O'Donoghue Managing Director at O-C Group
The EPC Q&A document unfortunately did not say very much or advance the position of the SEPA Cards Framework in real terms. The situation on the ground for consumers is that because of the failure to agree interoperable technical standards and card ranges cardholders will continue to find situations where they will try to use co-branded Maestr...
29 August 2008 /payments
Siddharth Udani Client Partner at Consulting
Banks are trying to modernize thier systems by rolling out newer programmes or business changes and considering business services with SOA. By SOA, whether we talk about creating web-services or introducing fancy middle-wares, banks are inevitably moving towards application consolidations with business process automation as their key objective. In...
28 August 2008 /payments Banking Architecture
Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
I have been reading the news items on the volume of counterfeit notes surfacing in India. It looks like more than half a billion dollars worth of fake rupees are circulating around the country. The banking industry must be quaking in their boots on the volume of menace they carry. It is distressing to note the thumb sucking responses and comments ...
27 August 2008 /security /payments
Uri Rivner CEO and Co-Founder at Refine Intelligence
Private computers around the world are being infected by malware on a daily basis. Some immediately wear a glazed expression and succumb to the will of their new master – a botnet operator. Others suffer from minor effects. But this amusing news piece takes malware to a new height. 350 km high, to be exact. Wired reported (http://blog.wired.com/27b...
27 August 2008 /payments /retail Online Banking
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