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  • Sibos 2010: Regulation

    Thursday, October 21, 2010

    The global financial industry is only days away from Sibos and at ACI we’re ready to go. The stand is arranged, the meetings have been set up and the events have been planned. We’ve also been giving some thought to the key themes that are being discussed throughout the week - regulation, rebuilding trust and recovery – and what they mean for the payments industry.

  • What Financial Services Can Learn From Manufacturing, Part 3

    Wednesday, October 20, 2010

    In my previous two blogs I have discussed different areas of manufacturing that financial services firms and vendors could learn from. In this final post in this series, I want to look at Supply Chain Theory and the factory model

  • World Payments Increase

    Tuesday, October 19, 2010

    Today sees the launch of the World Payments Report – an annual barometer of payments across the globe. Promisingly, it shows that payments volumes continued to grow in 2009 despite the impact of the financial crisis while increased competition and new regulatory initiatives are creating a more complex payments landscape.

  • What Financial Services Can Learn From Manufacturing, Part 2

    Wednesday, October 13, 2010

    In my last blog I looked at different revolutions that have impacted the manufacturing industry in the past, and what the payments industry can learn from them, specifically the use of interchangeable parts and mass production. In this piece I want to look at two more manufacturing trends, starting with Just-In-Time (JIT) manufacturing.

  • Managing Liquidity for a Competitive Advantage

    Friday, October 08, 2010

    The art of accountability when it comes to liquidity management was the topic of a recent blog I posted. The premise behind that blog was that most banks have not mastered this art, but instead spread this responsibility between Corporate Treasury and Finance, depending on the purpose for which liquidity is being managed.

  • What Financial Services Can Learn From Manufacturing, Part 1

    Wednesday, October 06, 2010

    Throughout its life, the manufacturing industry has gone through many changes that have each revolutionized the way products are made. Consider the principle of using uniform and interchangeable parts, rather than every element being unique. By being able to easily replace and reuse parts, manufacturers could make their processes more efficient, with less waste and faster time to market. And then Henry Ford’s advocacy and widespread use of the assembly line made mass production a reality; slashed the time needed to make a Model T Ford; and significantly cut the cost to the customer.

  • Social Media: Boon or Bane?

    Tuesday, October 05, 2010

    The explosion of social media and networking presents both a boon and a bane for online banking. On one hand, it promises dynamic relationships, deeper connections and loyalty between customers and financial institutions, and a channel through which financial transactions may be executed ever more seamlessly. One the other hand, it poses a new sort of security and fraud risk to financial institutions and their customers.

  • A Cashless Society

    Monday, October 04, 2010

    Today we have seen two very interesting stories about the declining use of cash in the UK and the measures being taken by the Irish Government to reduce cash in its economy, which could save the country €1bn a year.

  • Don't be discouraged from online banking

    Wednesday, September 29, 2010

    The news that UK police have arrested 19 people in connection with the theft of millions of pounds from online bank accounts shows the lengths to which criminals will go to commit fraud, and the PCeU must be congratulated on breaking this criminal gang. However, it is important that stories like this don't discourage consumers from banking online. As an individual there are a number of steps that people can take to help protect themselves from fraud - including never clicking on suspicious links in emails or on websites that could download this type of malware to their computer; regularly running anti-virus software; always checking statements; and reporting anything suspicious to their banks.

  • Internet Banking Faces A New Threat

    Monday, September 27, 2010

    The recent announcement of the multi-channelled Zeus attack on a user’s internet banking account is an interesting hypothesis and surely will not be the last when it comes to beating the ever advancing online banking systems. The attack method currently seems to use the mobile phone as a forwarding device for any one time password that is delivered to the customer. It’s unclear whether or not the mobile phone hack would hide the incoming SMS from the customer, however if it doesn’t, then if banks ensure they include relevant transaction details in the SMS - amount, and beneficiary - it could allow the legitimate customer to detect that something has gone wrong prior to money being lost.