206 Results from 2009, /payments
Retired Member
Today’s figures from Financial Fraud Action UK are both good news and bad news for UK banks and consumers. The fact that card fraud losses have dropped 23 percent recognises the work that the banking industry in the UK has done to introduce tools such as real time monitoring and blocking of transactions, EMV, or authentication products such as CA...
07 October 2009 /payments /regulation
As the dust settles on the credit crunch, it’s clear that banking has entered a new era. While it remains to be seen whether banks will heed the lessons learnt from the past two years in the long-term, there is no question that the crisis has led banks to re-think their payment strategies. Banks want to make the most of this stable source of inco...
07 October 2009 /payments /wholesale
Some indicators suggest that overall bank payment volumes are falling. However, the big banks have continued to see their volumes increase. Some of course have seen massive growth as a result of the mega mergers over the last twelve months. This increase in volumes isn’t going to make it easier to comply with sanctions regulations and some UK bank...
06 October 2009 /payments /regulation
The old adage that ‘prevention is better than cure’ is especially applicable when it comes to banks’ card fraud detection efforts. The best customer service is of course to prevent fraud from occurring in the first place. However, no matter what measures banks take, there will always be some fraud that slips through the net. Therefore, banks must ...
06 October 2009 /payments
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
Could this be the order? 1. see the big picture - exciting to say the least 2. get the fundament in place - fast before the market is hopelessly fragmented 3. bold steps to migrate (deadlines for unstructured invoicing, transparent pricing) - can we afford anything else? 4. then start building on the mass market platform - legislators surely needed...
04 October 2009 /payments Innovation in Financial Services
In the old days - especially in the 80s before Internet - e-banking was seen as a supplementary channel - in addition to branches and contact centres. Today it is the main channel for almost all services - both for the customer in his private role and in employee roles of so called corporate customers. All banks have not yet adjusted their strateg...
30 September 2009 /payments Innovation in Financial Services
Banks’ risk management capabilities are under the spotlight following the events of the past two years. The issue of liquidity used to sit firmly with the treasury department, but the advent of RTGS (real time gross settlement) has broadened its scope and the current scarcity and cost of liquidity means that this problem now affects the flows in ...
29 September 2009 /payments /wholesale
Richard Barr Principal Associate at Citadel Advantage Ltd.
MONEYGRAM ORDERED TO PAY WESTERN UNION $16.5M IN PATENT CASE. Interesting issue - the patent question. Unless Western Union created processes that were truely innovative, how can you get a patent for what is essentially a common business practice? That's just a little less absurd thant getting a patent on the wheel. I question the innovation behi...
27 September 2009 /payments
Paul Penrose Head of Research at Finextra
Hip-to-the-moment TechFlash blogger John Cook shows just how easy it is to use your iPhone to buy a grande non-fat mocha in this video shot at the Seattle Columbia Center Starbucks. So why not just use a card? John looks slightly confused by this question, before retorting: "Because its so cool to use an iPhone man to buy your goods." Th...
25 September 2009 /payments /retail Video extravaganza
KPMG's report - insights to global payments titled "The beating heart of Banking" indicates reversal of priorities on payments agenda, which points to opportunities and threats faced by the industry in the coming years. Future tests strength of basics. Moving priorities from innovation to efficiency, identifying silos - organizational and...
25 September 2009 /payments Innovation in Financial Services
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