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  • Direct Debit Fraud at an All Time High

    Tuesday, November 23, 2010

    It is worthwhile remembering that there is actually more than one victim involved in Direct Debit fraud. The Paying Bank executes the payment against a fraudulent direct debit mandate, and the Collecting Bank receives the fraudulent payment, whose customer provides goods and services – for simplicity let's assume they are in fact legitimate in the first place.

  • Asia Pac moves towards greater economic integration

    Friday, November 19, 2010

    The APEC (Asia-Pacific Economic Co-operation) 2009 summit upped its efforts last week to strengthen economic integration in the region.

  • For German consumers cash is still king

    Friday, October 29, 2010

    However, at present, many German retailers still ask their customers to pay with cash instead of using a card. Despite the costs and risk associated with the handling of cash – for both the retailer and the bank - German retailers still prefer it, as the banks in Germany currently facilitate the handling of cash. If the use of cashless payment methods in Germany is to grow, retailers need to be further educated around the costs incurred for both parties in handling cash.

  • Getting One View of Financial Crime

    Wednesday, October 27, 2010

    Anyone who has worked in a bank, or has spent any length of time working with them, knows that technology silos are all too commonplace. Many banks have one system to process debit card payments, another for credit, a third for online banking, and the list goes on. The same applies for fraud prevention and detection, where many banks aren't yet taking a true enterprise view of a customer but instead trying to identify fraud on individual channels, which inevitably makes the detection slower and less accurate - for when fighting financial crime, information and knowledge really is power.

  • What Will it Take to get to SEPA

    Wednesday, October 27, 2010

    The challenges of regulation for SEPA were made clear in the "SEPA 2010" session at Sibos today when the European Commission declared that "moving from self-regulation to regulation is not a small step but a major challenge”. In a sense, that sentiment comes as no surprise at all, given how far we've already travelled down the road to SEPA.

  • The Real Payments Impacts from Liquidity Regulations

    Wednesday, October 27, 2010

    As a key theme for SIBOS there is a lot of discussion about the impact of regulations, and the unexpected consequences that all too often accompany new rules.

  • Can Africa Learn Lessons from SEPA

    Tuesday, October 26, 2010

    It's very interesting to see that Southern Africa plans a SEPA-style payments harmonisation and that they consider that learning from the experience in Europe could be very useful. Something that immediately springs to mind is to treat self-regulation with caution. In Europe, we are now actively seeking regulatory intervention to set an end date for the withdrawal of the legacy payment instruments as the SEPA initiative feels as though it is stalled without that. Self-regulation simply did not deliver.

  • Throughout everything, reliability is what counts

    Tuesday, October 26, 2010

    Over the last couple of weeks, we have been running a short poll on the ACI website to ask peoples’ views on payment systems in advance of Sibos, and the results are now in.

  • Real Time Protections From Social Media Fraud

    Monday, October 25, 2010

    I recently contributed a post on how social media can be both a blessing and a curse for banks, financial institutions and their customers. In this post, I’d like to share some ways financial institutions can protect themselves and their customers from the potential of fraud.

  • "Real-Time" Liquidity Management Values to be Realised

    Monday, October 25, 2010

    In today’s banking environment, payments data and transactions live on their own islands, separated according to discrete payment businesses or at least discrete geographic units, rather than linked together for holistically serving all these liquidity purposes. Banks might pursue integrating some of these systems in an equally silo’d fashion, through extensive and expensive systems integration projects, but those approaches are not repeatable, adjustable or easily refinable. Real-time insight cannot be delivered on demand across a diverse spectrum of activities, and real-time actions and responses cannot be automated with any ease or consistency.