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  • Payments innovation in wholesale banking has never been more important

    Tuesday, June 14, 2011

    Whether it is bringing new products to market or offering existing services at a lower cost, innovation in wholesale banking payments is now an important aspiration. Innovation is often seen as the means by which banks may protect current revenue streams and open up new income sources to replace those lost through regulatory change. As a consequence, it is innovation that has become key to maintaining a competitive position in a crowded market, ahead of projects that focus solely on cutting costs.

  • How can banks tell if they need to review their payment systems?

    Thursday, June 09, 2011

    I have talked a lot recently about legacy payment systems, the problems they can cause within financial institutions and how to approach change, but I often get asked how companies can ascertain if they would benefit from evolving their payment systems.

  • Breaking away from the legacy of the past

    Thursday, June 02, 2011

    The benefits to financial institutions of flexibility, responsiveness and agility are well recognized. Organizations will be able to do more with less. Centralized, integrated and fluid payment systems support operational efficiencies and the development of innovative initiatives that enhance product and service offerings.

  • Happenings in the retail space - Part 1

    Tuesday, May 31, 2011

    For those of you interested in what is going on in the merchant retail space, specifically in the US, I wanted to share with you the findings of some research we ran recently, which identified that half of U.S. consumers would prefer one card for all of their retail loyalty programs. They also said that loyalty and rewards programs have become too complicated and burdensome, and they aren’t truly driving loyalty.

  • What do payment systems of the future look like?

    Thursday, May 26, 2011

    As financial institutions review their payments infrastructure, it is likely that many will decide that they need to start to consider how they evolve current systems in the future, if they haven’t started already. But where should they aim to get to?

  • Let’s hear it for the payments big boys

    Wednesday, May 25, 2011

    Since the financial crisis, supervisors across the world have been trying to work out ways of dealing with banks deemed to be ‘too big to fail’. The most obvious solution (and the most simplistic) is to chop them up into manageable bits so none are too big or interconnected to be allowed to fail, because the current received wisdom seems to be that banks that are smaller and more modular are less of a risk.

  • Fraud Reporting - It's Criminal

    Tuesday, May 24, 2011

    Understanding the scale and source of global fraud is vital if the industry is going to tackle it. Yet getting a handle on what is really taking place is a challenge. Every country seems to have a different way of measuring fraud, and each organisation within those countries often provides statistics that are not consistent with each other.

  • Taking action against the burden of legacy systems

    Thursday, May 19, 2011

    We know that most financial institutions are burdened, to a greater or lesser degree, by siloed legacy payment systems. Part of the problem is that the limitations of this architecture of legacy infrastructure are not immediately obvious. Individual systems function, and function well for the most part. But although they serve their individual purposes now, there is little to suggest they will be able to work together to support financial institutions as they adapt their business models to the demands of a new decade. 

  • Stifled by legacy systems

    Thursday, May 12, 2011

    Many financial institutions are trying to run their critical payments function on disparate, cobbled-together systems, whose complexity and inflexibility make it difficult to respond to new customer needs and market demands. This presents a number of challenges to banks.

  • The heritage of legacy payment systems

    Thursday, May 05, 2011

    The past 30 years has seen billions of dollars spent on payments systems – with financial institutions building up a plethora of different systems and technologies designed to meet specific needs and develop competitive advantage. However, as the payments infrastructure gets more intricate and unwieldy, the harder it is for financial institutions to realize the potential benefits of technology.