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  • The latest on the Durbin Amendment

    Thursday, June 30, 2011

    On June 29, 2011, the United States Federal Reserve Board voted to proceed with a plan to execute the legislation enacted into law under the Dodd-Frank Act of 2010. Known as the Durbin Amendment, this legislation will change the landscape of retail payments in the U.S..

  • Towards the Unknown [Payments] Region

    Tuesday, June 28, 2011

    Vaughan Williams’ choral work ‘Towards the Unknown Region’ is a dramatic setting of a Walt Whitman poem, describing the uncertainty of life, the soul being led to an unknown place with no maps or guides or paths. As the recent report ‘The Changing Face of Payments’ shows, the infrastructure of payments is heading towards an unknown region.

  • Combating Online Banking Fraud - A Top 10 List

    Thursday, June 23, 2011

    For many financial institutions, the recent ruling in the US holding a bank responsible for fraudulent losses from business accounts has raised a few eyebrows because, traditionally liability has remained with the customer for business accounts.

  • Innovating the customer proposition for true differentiation

    Thursday, June 16, 2011

    A broad range of activities – and not just cost cutting – must be adopted if a financial institution’s market share is to be maintained and managed, and are imperative if market share is to grow.

  • Driving innovation in a cost-cutting environment

    Wednesday, June 15, 2011

    An ongoing squeeze on budgets, combined with unprecedented levels of external scrutiny of both operations and performance, has created a situation in which improving the cost base has become paramount for most banks. Nonetheless, cost cutting need not be an insurmountable obstacle to innovation. Indeed, it may be a key driver of it.

  • 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?