Skip to content

  • SEPA Widdershins

    Wednesday, September 15, 2010

    The European Payments Council (EPC) recently achieved its 8th birthday. Back in 2002, the road to SEPA probably looked fairly straightforward – the EPC would develop the payment schemes and frameworks necessary to realise SEPA, and market forces would ensure a smooth transition from the fragmented payments landscape of the time in Europe to the calm waters of a single payments area. The European banking industry would deliver the basis on which SEPA would be built, the rest would fall into place as a matter of course, and the end-user would be Very Happy.

  • Is The UK Turning The Corner?

    Monday, September 13, 2010

    According to the Bank of England there is over £52 billion in cash circulating in the UK economy today. That’s enough to buy 232,000 homes all over the country or the Lloyds Banking Group, at today’s prices. Yet as many of us know, the use of paper cash and coinage is in decline. According to the payments council, the amount of cash withdrawn from ATMs between April and June 2010 was £1.6 billion – a decline of 3.2 per cent on the same period last year. In contrast, debit card usage rose £7.9 billion year over year, up 12.4 per cent.

  • Sibos Calling

    Wednesday, September 08, 2010

    It’s that time of year again. The banking industry is preparing for its yearly outing to Sibos, which brings together the financial industry for an entire week to meet, discuss the top issues of the day and generate new opportunities. This year’s event is being held in Amsterdam and coincides with our 35th anniversary as a company.

  • Understanding Today's Wire Transfer Risks

    Saturday, August 28, 2010

    While the rise of wire transfer and ACH (automated clearing houses) fraud is not news, the pure acceleration rate, scale and sophistication of corporate wire and ACH fraud is alarming. For example, the FBI recently took the step of issuing a cyber security advisory in response to the growth of unauthorized and fraudulent multi-million dollar wire transfers from business and government entities to overseas locations.

  • The PFM Debate

    Tuesday, August 24, 2010

    According to new research from Fiserv Americans prefer to access personal finance management (PFM) tools through banking Web sites, with security concerns trumping the advantages, such as account aggregation, offered by third party providers.

  • Bringing The Customer Into The Fraud Prevention Process

    Thursday, August 19, 2010

    This news is very encouraging for banks and consumers around the world. It’s great to see banks taking steps to give their customers as much control as possible over their account. At the moment it sounds like this will only be used for credit card accounts, but where this type of technology really has potential is when it is implemented across a customer’s full range of accounts with the bank.

  • Can We Tolerate Tolerance of SEPA?

    Thursday, August 19, 2010

    I was musing the other day, as you do in the dog days of summer, on the difference between tolerance and toleration. And the difference, I found, is more than just nominal.

  • Financial Transactions Tax Sparks Debate

    Tuesday, August 10, 2010

    As we have seen in the media this week, EU proposals for a tax on financial transactions have created a storm of debate in the last 24 hours – mainly focusing on political issues. While the full details of the proposed tax are still unclear, it is obvious that a tax on financial transactions – or payments between banks – would be detrimental for a number of reasons.

  • A Collective Approach to International Fraud Prevention

    Monday, July 26, 2010

    Guest blogger: Jim Oakes, managing director at Financial Crime Risk Limited So, the World Cup is over for another four years and sports fans will be turning their thoughts to the next big event on the sporting calendar. While I enjoy these types of events from a personal point of view, professionally, it’s disappointing to see a lack of pro-active discussion about how the UK banking industry should collectively handle payments fraud during large sporting events. While banks do take individual measures to protect their customers, there is little or no public discussion or consumer education as to the potential and unique risks associated with host countries.

  • SEPA Who Will Step Up To The Challenge

    Friday, July 23, 2010

    Comments from Gerard Hartsink in the latest EPC newsletter underline the plight of the SEPA Schemes – ultimately that we're in danger of ending up with a politically-driven mess. At Sibos 2008 I blogged that to achieve success, a third party body needed to step in to oversee the SEPA project. Almost two years later, what this newsletter highlights more than ever is that SEPA is a huge and complex undertaking which still lacks a central project manager.