206 Results from 2009, /payments
George Ravich President at Ravco Marketing, LLC
Sibos was once again a hectic, frenetic week of meetings and eye-opening conversations. Fundtech was fortunate to announce BofA as its first customer for its new SOA payments platform. The explanation by Cindy Murray – EVP of Innovation at BofA of how they plan to use this new technology was worth repeating. As Cindy explained it: When you send ...
25 September 2009 /payments /wholesale Transaction Banking
Retired Member
It’s clear that corporations expect more than ever before from their banking service providers. They are demanding the same level of insight for payments as they receive for other areas of their business, e.g. the tracking of products in the manufacturing cycle. At the moment, however, many payment systems are not dissimilar to a “black hole” - th...
22 September 2009 /payments /wholesale
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
If you can lower the treshold to e-invoicing - as suggested below (emphasis mine) - you can automate accounting, public sector reporting, further the single market and much more. Then EU and member states have a chance to reach the 25% goal by 2012. If not - no chance. Who will take the responsibility for such fundamental failure? Stoiber and Verh...
22 September 2009 /payments Innovation in Financial Services
Technology is not the narrow sector - it is amply on offer - and the costs are going from low to lower. Technology enables "anything" and in most cases the utility is evident. The adoption gap is still widening - even too much. Why is this happening? In some cases it may be the less than perfect first versions that have scared adopters of...
20 September 2009 /payments Innovation in Financial Services
When thinking about doing things differently in the transaction and identity space its hard to go past the health care industry. There are an awful lot of health care transactions and with the right system in place we might be able to learn how to improve health care in general. I know President Obama's heart is in the right place with health care...
19 September 2009 /payments Whatever...
Banks should move up the order-to-payment value chain from payments and down the payment-to-accounting value chain - before invaders move down or up into the payment business. The reasons are fundamental: - better service - better value - new revenues certainly needed when float disappears, interest margins remain low and fee income in commoditized...
19 September 2009 /payments Innovation in Financial Services
‘Familiarity breeds contempt’ is a line from Hollywood Beyond’s hit single, ‘What’s the colour of money?’. The same phrase could arguably be used to describe bankers’ relationship with money in the run up to the recent credit crunch. Although managing liquidity is, and has always been, an important activity for banks, many neglected to give it the...
18 September 2009 /payments
EUROPEAN COMMISSION - High Level Group of Independent Stakeholders on Administrative Burdens exerpts from OPINION OF THE HIGH LEVEL GROUP "The VAT Directive explicitly allows the use of electronic means for sending and archiving invoices. The rules however leave too many options to Member States so that national requirements for electronic inv...
18 September 2009 /payments Transaction Banking
As we heard from Stig Korsgaard at SIBOS there a rather unique happy confluence has been arrived at as: 1. The EC Expert Group on e-Invoicing turned to UNCEFACT to get a global e-invoicing standard to use in EU - the obvious targets being to speed up adoption, cost-efficient integration and automation and at the same time further the Single Market...
18 September 2009 /payments Innovation in Financial Services
Parth Desai Founder and CEO at Pelican
The introduction of regulations such as the Single Euro Payments Area (SEPA), continuing recessionary pressures and increased competition across the payments landscape are forcing banks to re-evaluate the way they process payments. For many, payment processing remains an extremely costly business. For example, it can constitute up to 40% of a bank...
17 September 2009 /payments /sibos
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