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Gary Wright

Gary Wright Analyst at BISS Research

EU Payment Services Directive

The UK Government is putting before Parliament regulations that will lead to legislation due to be enforced on the 2nd March 2009. This should breathe life into the PSD after a particularly difficult and hazardous pregnancy as banks and other vested interests having been battling away to try and ensure their businesses are protected. The PSD we ha...

EBAday

Gary Wright

Gary Wright Analyst at BISS Research

Cost v risk; a catch 22 situation

At Finexpo last week where I was moderating a panel session, the panel of experts representing Euroclear, LCH.Clearnet, SIS x-clear, LSE and the ECB were asked a question concerning the importance of cost reduction or risk reduction? This question is obviously vitally important to the many financial institutions having to recover from the breakdow...

/wholesale MiFID

Gary Wright

Gary Wright Analyst at BISS Research

Could there be a real rival to SWIFT?

Finding a SWIFT alternative always comes up in any discussion about messaging standards and the direction the finance industry is going. Most professional people in the know agree that SWIFT is a double-edged sword with both good and bad points. On balance the good has outweighed the bad but the gap is narrowing. SWIFT has had some outstanding ach...

/payments /retail SEPA and European Payments

Gary Wright

Gary Wright Analyst at BISS Research

Thomson Reuters Hub looks the business

Yesterday's announcement from Thomson Reuters about their partnerships with Cisco's Jabber XCP, IBM Lotus' Sametime and Microsoft's LCS/OCS can only be termed exciting. The hub connection solution is going to provide financial services with a viable approach to the disparate data problems afflicting the industry for decades. The hub enables cross ...

/wholesale SEPA and European Payments

Gary Wright

Gary Wright Analyst at BISS Research

Avoiding a depression

It's not often that I find myself in agreement with Peter Mandelson the UK Government Secretary of State for Business, Enterprise and Regulatory Reform but this economic crisis is producing many strange bedfellows, forging unusual statements and acts, as everyone tries to come to terms with what's going on and more importantly what to do about it....

/payments SEPA and European Payments

Gary Wright

Gary Wright Analyst at BISS Research

Redundancy delays growth

It was inevitable that as the world dives into recession and profits disappear into history that the reaction of the majority of companies would be to cut costs and make employees redundant. The cost of redundancy should never be measured by the immediate balance sheet impact but should also take into account, the cost of have to re-employ people ...

MiFID

Gary Wright

Gary Wright Analyst at BISS Research

Voice recognition and card security

At this weeks Purchasing Card Forum, Nick Ogden, founder of WorldPay and currently chairman and CEO of Voice Commerce Group presented the use of voice recognition as the next big thing in security. He outlined that so far the methods used for card security have all been found to have fallen short and a straw poll of the audience appeared to justi...

/payments MiFID

Gary Wright

Gary Wright Analyst at BISS Research

Tesco's beginning to look bank like

I have written on the topic of high street stores entering banking before but it's now looking certain that Tesco will be the first to go the whole hog. The Chief Executive Sir Terry Leahy appears to be on a mission to utilise the many assets of Tesco and notably their Clubcard with all its client data, to take advantage of the gaps opening up, as...

/payments EBAday

Gary Wright

Gary Wright Analyst at BISS Research

I.T. Boom will follow Crisis

Its normal practice for financial services firms to immediately cut costs and budgets when a financial crisis hits. In my time working in banking I can remember on many occasions when some form of crisis appeared that the first reaction was to freeze expenditure, the next was to cut costs the third was to prioritise and then cut again. The finance...

/regulation /sibos MiFID

Gary Wright

Gary Wright Analyst at BISS Research

Breaking up the Banks

Each day we hear of another bank deep in a hole of its own making. The billions and eventually trillions of tax payer's money pitched into banks is taking some time to take effect and get the business moving again. Today it's unclear how much is enough and what the long term ramifications will be. The UK and USA governments are the main protagonis...

/wholesale EBAday

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