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  • The "Trump Card" in the Customer Experience

    Thursday, July 22, 2010

    Brett King’s Bank 2.0 comment on customer innovation (Is Customer Experience innovation too hard for UK banks?), raises some important questions about how retail banks see their customers through the lens of a bank branch. King makes a valid point that customers are not necessarily seeking branch services and would benefit from improvements to other channels including on-line and mobile banking.

  • The Rise of Third Party Fraud

    Thursday, July 22, 2010

    First party fraud continues to be a challenge facing institutions and is, arguably, a necessary evil of doing business for institutions today. However, this also can prove problematic when also trying to balance regulatory and consumer pressure to treat customers fairly. Here the advantage tips in favour of the fraudster: how do institutions manage and treat a customer that they suspect of showing symptoms of first party fraud - fairly. Just look at some of the consumer web forums describing tales of woe where customers or credit applicants have negative registrations against their credit history – purportedly for account misuse or supplying false or misleading information. However, let’s not lose sight of the fact that dishonestly making a false representation is now recognised as a criminal offence under the Fraud Act 2006.

  • Waiting for the SEPA Godot

    Friday, June 25, 2010

    On 7 June 2010, the newly-established SEPA Council met for the first time, and it is reported that migration end dates were discussed. No further news on that particular point has yet emerged.

  • EFMA: Looking Back at Day One

    Saturday, June 19, 2010

    The EFMA conference is a regular event in my calendar, and as I travelled there on Tuesday the omens were looking good. I bought my breakfast at the airport with contactless Visa Paywave and the sun was shining when I arrived in Paris. It promised to be a great week.

  • Merchant Fees Clear As Mud

    Friday, June 18, 2010

    The debate and controversy around interchange fees in light of the recent news that UK retailers have urged government to step in over card fees, seems to have existed almost as long as card payments themselves, and these latest concerns from the British Retail Consortium (BRC) reflect a global trend to reduce interchange fees which has already been implemented in the US and Australia.

  • Uncertainty Piled on Uncertainty: The SEPA Story

    Friday, June 18, 2010

    The journey towards SEPA has been dogged by uncertainty from the start. End-users have not been sure what is on offer from the banks and at what price. Banks have been unsure whether and how to invest in SEPA, unsure about the impact of regulation (especially the PSD), and unsure how the financial crisis might affect their plans or lack of them. Then they have dithered about Additional Optional Services: are they a necessity or a luxury, and how should they best be deployed? And the whole market has been unsure about the adoption of the new SEPA instruments: when and by how much?

  • Don't Let Card Fraud Ruin Your World Cup

    Thursday, June 10, 2010

    This week marks the start of the World Cup in South Africa and, in preparation, the country has put extra measures in place to protect tourists from criminals. However, given the expected rise in financial transaction volumes during the event, fraudsters will no doubt have made their own plans to target consumers as they spend money on their cards around the country. As a result, banks – both in South Africa and in the consumers’ home countries - will have to be even more vigilant than usual to effectively protect their customers from card fraud.

  • SEPA and White Elephants

    Monday, June 07, 2010

    If one was to take a spectator’s view of SEPA progress to date, one could be excused if the image of a white elephant flashed before one’s eyes . . . . .

  • EBADay 2010: How Far we have come and where we are going?

    Friday, May 28, 2010

    Yesterday was the first day of EBAday and, as expected, many of the sessions focused on the challenges that banks are currently facing as they integrate SEPA with their domestic payments infrastructures while they migrate from legacy payments, ultimately turning the SEPA vision into reality. EBAday is an opportunity to reflect on the progress of SEPA, the milestones we’ve reached and the challenges that still lie ahead. From that perspective, several interesting observations have been made.

  • Faster Payments Comes of Age

    Thursday, May 27, 2010

    Today marks the second anniversary of the Faster Payments Service that has helped reduce UK payment processing time from three working days to near real time.