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  • What Financial Services Can Learn From Manufacturing, Part 2

    Wednesday, October 13, 2010

    In my last blog I looked at different revolutions that have impacted the manufacturing industry in the past, and what the payments industry can learn from them, specifically the use of interchangeable parts and mass production. In this piece I want to look at two more manufacturing trends, starting with Just-In-Time (JIT) manufacturing.

  • Managing Liquidity for a Competitive Advantage

    Friday, October 08, 2010

    The art of accountability when it comes to liquidity management was the topic of a recent blog I posted. The premise behind that blog was that most banks have not mastered this art, but instead spread this responsibility between Corporate Treasury and Finance, depending on the purpose for which liquidity is being managed.

  • What Financial Services Can Learn From Manufacturing, Part 1

    Wednesday, October 06, 2010

    Throughout its life, the manufacturing industry has gone through many changes that have each revolutionized the way products are made. Consider the principle of using uniform and interchangeable parts, rather than every element being unique. By being able to easily replace and reuse parts, manufacturers could make their processes more efficient, with less waste and faster time to market. And then Henry Ford’s advocacy and widespread use of the assembly line made mass production a reality; slashed the time needed to make a Model T Ford; and significantly cut the cost to the customer.

  • Social Media: Boon or Bane?

    Tuesday, October 05, 2010

    The explosion of social media and networking presents both a boon and a bane for online banking. On one hand, it promises dynamic relationships, deeper connections and loyalty between customers and financial institutions, and a channel through which financial transactions may be executed ever more seamlessly. One the other hand, it poses a new sort of security and fraud risk to financial institutions and their customers.

  • A Cashless Society

    Monday, October 04, 2010

    Today we have seen two very interesting stories about the declining use of cash in the UK and the measures being taken by the Irish Government to reduce cash in its economy, which could save the country €1bn a year.

  • Don't be discouraged from online banking

    Wednesday, September 29, 2010

    The news that UK police have arrested 19 people in connection with the theft of millions of pounds from online bank accounts shows the lengths to which criminals will go to commit fraud, and the PCeU must be congratulated on breaking this criminal gang. However, it is important that stories like this don't discourage consumers from banking online. As an individual there are a number of steps that people can take to help protect themselves from fraud - including never clicking on suspicious links in emails or on websites that could download this type of malware to their computer; regularly running anti-virus software; always checking statements; and reporting anything suspicious to their banks.

  • Internet Banking Faces A New Threat

    Monday, September 27, 2010

    The recent announcement of the multi-channelled Zeus attack on a user’s internet banking account is an interesting hypothesis and surely will not be the last when it comes to beating the ever advancing online banking systems. The attack method currently seems to use the mobile phone as a forwarding device for any one time password that is delivered to the customer. It’s unclear whether or not the mobile phone hack would hide the incoming SMS from the customer, however if it doesn’t, then if banks ensure they include relevant transaction details in the SMS - amount, and beneficiary - it could allow the legitimate customer to detect that something has gone wrong prior to money being lost.

  • EFMA: Clarity, understanding, agreement and opportunities on Day Three

    Monday, September 20, 2010

    The presenters and panellists on day three of EFMA will surely have felt the pressure to deliver after the fantastic first two days of the conference, and I must say that the sessions I attended lived up to expectations.

  • EFMA: Innovation and Variety on Day Two

    Friday, September 17, 2010

    Well the confidence and optimism from Wednesday was still evident at the end of yesterday. Last year people had ideas, this year they are actually doing something about them and actively looking for opportunities, which is such a positive sign for the industry.

  • 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.

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