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  • Lack of Respect for Payments Business Exposed by SEPA

    Wednesday, April 14, 2010

    It is axiomatic that banks have traditionally had problems in measuring their payments business and the value it brings to their bottom line. Are payments just a means to securing a corporate’s DDA or current account? Are they merely an adjunct to credit relationships? Or do they in fact have an intrinsic value which could do far more than adding a marginal improvement to the bottom line?

  • Threat To Online Banking Security

    Wednesday, March 31, 2010

    According to this month’s figures released by the UK Cards Association, the number of "phishing" attacks on consumers rose by 16% in 2009 and the total amount of online banking losses saw a 14% rise on the previous year. These stats are worrying for consumers and banks alike – increasingly fraudsters are using Trojans that can infect a user’s PC, and then launch man-in-the-browser attacks that can get around the strongest user authentication measures. The consumer may not even be aware that the funds have been moved from their account as the Trojan can alter the page being displayed.

  • Life is Strange and so is SEPA

    Friday, March 26, 2010

    As we dally in Europe with double-dip recession or recovery, and the Greek financial woes, life is indeed strange at the moment. And so is our attitude towards SEPA.

  • Day Three at the International Payments Summit

    Thursday, March 11, 2010

    This year’s International Payments Summit had a clear theme running through the various debates and discussions around the event: how regulation is stifling progress….but mainly for the banks.

  • Day Two at the International Payments Summit

    Wednesday, March 10, 2010

    While we were eased into this year’s International Payments Summit on Monday, yesterday’s sessions contained more heated debates. Discussions yesterday first of all turned to proposed Basel III regulations which will require far more capital to be raised by the banks (a core capital ratio of at least 6 per cent will have to be maintained). According to a number of projections from major financial institutions, this means that the European banking sector as a whole will have an aggregate extra funding requirement of more than one trillion Euros, or nearly one and a half trillion dollars, to comply with Basel III.

  • Day One at the International Payments Summit

    Monday, March 08, 2010

    The International Payments Summit (IPS) here in London kicked off this morning, and some of the usual themes have already come to the fore. It was no surprise that the straw poll by IPS of the delegates revealed that regulation will continue to be the most important business driver in 2010 as well as one of the biggest constraints to payment transaction growth. Despite the sense of weariness in the banking industry around the issue, it’s clear that regulation will have to remain at least a ‘warm’ topic for now.

  • Moving Forward with EMV

    Tuesday, February 16, 2010

    “I think the report from the University of Cambridge is very interesting and raises some very valid points, despite the fact that it is quite theoretical and could only work in a specific set of circumstances.

  • Customer Centricity Comes of Age

    Friday, February 12, 2010

    Tesco is marking the occasion of the 15th anniversary of its loyalty Clubcard by offering £120million worth of money off vouchers and an iPhone application that turns the phone into an electronic Clubcard. The Tesco Clubcard has been widely accepted by customers, and Tesco is obviously keen to trumpet that success and reinforce its use among a new generation of tecno-savvy shoppers.

  • The Cost of Cash

    Friday, February 12, 2010

    Last week there was a story posted on Finextra about the cost and dominance of cash payments in Europe. The article highlighted that cash costs the EU £84 billion, and that the level of cashless payments rose by 160% between 2000 and 2008.

  • Getting the timing right for a SEPA end date

    Tuesday, February 09, 2010

    Many people I have spoken to in the industry believe that finally, in 2010, we will see the announcement of an end date for SEPA. It is something many of us have been calling for, and now it looks like it might happen soon, so I can't help but wonder what the impact will be.