Our biggest stories of the past week are ...
Many of us are gearing up for this year’s SIBOS – the big SWIFT jamboree that gathers all those involved in payments worldwide … whoops, involved in transaction processing worldwide. This year it’s in Osaka, Japan, and I’m on my...
Just in case you didn't see it, the Banker Magazine has an exclusive interview with Gottfried Leibbrandt, CEO of SWIFT, about what to expect at SIBOS 2012 and the company's position in a rapidly changing global landscape. I'm reproducing it...
Andrew Vorster, Vice President of R&D and Adam Banks, Chief Technology Officer for Visa Europe delivered a fascinating double act at the Financial Services Club the other night. The theme of the presentation was: the future of payments and technology...
Every time I click on something online, I get this funny thing about agreeing terms and conditions. The popup window appears and my brain shuts down. I just hit ‘accept’, ‘agree’ and move on. I guess the reason is that...
After last week's post about the meeting we had at the Club regarding the RBS glitch, I received an email from one attendee, Peter Miller. Well worth a read.
The World Payments Report (WPR) has just come out. It is the 8th report produced by EFMA, in partnership with Cap Gemini and the Royal Bank of Scotland (ABN AMRO previously), and provides a good analysis of global payments movements...
Ability to Innovate is Challenged Amid Sea of Key Regulatory and Industry Initiatives: Regulators have continued to implement the Key Regulatory and Industry Initiatives (KRIIs) discussed in WPR 2011, and new initiatives have been introduced.
Mandated deadline of February 2014 is set for SEPA Credit Transfers and Direct Debits: a deadline for migrating to SEPA Credit Transfers (SCT) and SEPA Direct Debits (SDD) has been set at February 1, 2014. The certainty of a firm deadline should trigger a major increase in adoption rates for these instruments, though the potential for inconsistent interpretation of the standards could still be an issue.
Banks Need To Seize Opportunity Of Customer-Centric Innovation: many banks are increasingly shifting their innovation focus to customer-centricity, after sustained success in driving internal improvements for better efficiency and cost-effectiveness in existing operations. This shift will bring banks, possibly through partnerships, more squarely into today’s horizon of innovation
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The major general news stories of the past week include ...
considers bid for 316 branches that Royal Bank of Scotland is selling -
Nationwide Building Society is considering making a bid for the 316 branches that Royal Bank of Scotland was due to sell to Santander, it was reported today.
hits back at 'inaccurate' Barclays report - The Telegraph
Santander has dismissed as "inaccurate" a research report by Barclays analysts that warned the Spanish lender could need to raise nearly €18bn (£14.7bn) in new capital.
under pressure to offload US business - The Telegraph
Royal Bank of Scotland has come under pressure to sell its US business and shrink its investment banking arm by the body charged with managing the taxpayers' 82pc holding in the lender.
M-Pesa to Expand Money Transfer Routes to 35 Countries - Payments News
Vodafone announced that next month, it will connect its M-Pesa service to a leading international remittance hub, HomeSend operated by BICS. This will allow M-Pesa customers to send and receive funds via their mobile phone accounts by connecting directly to more than 21 international money transfer businesses in 35 countries.
considers plan to ditch annual bonuses - The Telegraph
Lloyds Banking Group is considering whether to ditch annual bonuses for senior staff and extend the timeframe of longer-term incentives to up to 10 years, the Financial Times reported on Monday.
I Left Goldman Sachs: the highlights - The Telegraph
Today sees the release of Why I Left Goldman Sachs by former bank executive Greg Smith, who famously quit by sending his resignation letter to the New York Times for publication. Here we look at the highlights of his book.
are the muppets now? Goldman exposé falls short of hype - Reuters
NEW YORK (Reuters) - The tell-all book that Goldman Sachs Group Inc former equity derivatives salesman Greg Smith has delivered may end up being remembered more for the marketing skills he picked up at the Wall Street bank than for any bombshell revelations.
Mervyn King: no recovery until banks recapitalise - The Telegraph
The British economy will not recover until the banks own up to their bad debts and are recapitalised again, the Governor of the Bank of England has warned.
banks will be forced to hold extra £150bn capital - The Telegraph
The favourite to head a new banking regulator has said lenders will be forced to hold eight times the capital they were required to before the crisis, as part of tighter precautions to prevent the financial sector once again "staring into the abyss".
If U.S. goes over fiscal cliff, dollar could fly - Reuters
NEW YORK (Reuters) - In times of trouble, investors tend to flee to the comfort of the U.S. dollar -- even when the trouble is emanating from the United States.
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