Retired Member
Malicious software designed to snatch card data, insider trading on confidential information, hackers setting up phony accounts to divert millions...what do all these things have in common? Greed! Let’s be honest, people have been figuring out how to steal since the beginning. But in today's interconnected and interdependent world they're using...
22 January 2009 /security /regulation Financial Supply Chain
If you go back less than a working generation, a bank would lend money and then manage that loan through to complete repayment. If it had done its assessment properly, and if the customer was fortunate enough to not suffer any financial misfortune, at the end of the loan period it would have been satisfactorily repaid and both parties would have ...
19 January 2009 /regulation Transaction Banking
Incredible. As I indicated in a previous blog, I sent a letter to my bank seeking clarification about my credit standing with them after they had sent me a loan offer priced at the astronomical rate of 19.9%. I asked very clearly for a response that expressly addressed what had changed in my specific circumstances. You won't be surprised to hear ...
19 January 2009 /regulation /retail Online Banking
John Cant Managing Director at MPI Europe Ltd
If Murphy’s Law didn’t already exist, they would have had to invent it to help explain what has happened to the financial sector over the past six months or so. Over the years there have been many proverbs or sayings predicting the inevitability of disasters. However, it fell to one Edward Aloysius Murphy Jr. around 1949, whilst working on a serie...
19 January 2009 /regulation /wholesale Banking Architecture
I noticed an article in the Press today suggesting that the authorities were now considering creating a ‘bad bank’ (we already have more than one, but I know what they mean), into which could be placed up to £260 billion in toxic debts from the banks. The expectation is that this would free the banks to lend more by replacing those debts with cas...
14 January 2009 /regulation /retail Transaction Banking
Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
The World Economic Forum has released its annual take on Risks our world carries in the new year. The Global Risks Report 2009 is a compulsive read in these turbulent times and not just for Risk professionals. You can download the report from: http://www.weforum.org/en/initiatives/globalrisk/index.htm The report suggests that the world may face ris...
14 January 2009 /regulation
Of course, few people are happy with bankers at the moment, but they're not doing much to help themselves. In fact, the most recent communication from my bank (I won't say which one, but it begins with a letter near the start of the alphabet) has incensed me no end. They've sent me a mailshot offering a loan. Not in itself a thing to get underpa...
12 January 2009 /regulation Transaction Banking
At the beginning of a New Year one must always contemplate the difficulty of coming back to work after enjoying a couple of festive weeks off. So there I was last Monday embroiled in a taxing struggle to save myself from an hour or two of naval gazing and thumb twiddling and found myself listening to the Bernard Madoff hearing in Washington. No, ...
12 January 2009 /regulation
If this is the future of regulation, then God help us. I can't think of a bigger waste of money (at least, not at the moment, but I'm sure something will turn up) than spending £1 billion plus (let's not kid ourselves, this would cost a whole lot more) on getting all banks to devise and build (and maintain) a system that provided a single customer...
09 January 2009 /regulation Transaction Banking
Just reflecting on whether the current situation facing the institutions today has added weight to this prediction back in 2006. As the business case for Unified Communications solidifies and the pressure from the downturn intensifies, the appetite to deliver these benefits to those in the dealing room is in fact increasing in some sub-sectors. S...
08 January 2009 /regulation Unified Communications in Financial Services
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