Analysis


FCA issues considerations on the procurement of off-the-shelf technology solutions

The Financial Conduct Authority has recently issued a series of “considerations” for firms that are thinking about using third-party technology banking solutions. The considerations do not seek to tell firms how to structure their IT procurements but rather provide a useful framework for firms to demonstrate that their IT services are effective, resilient and secure.

Getting ready for mobile payments

With the penetration of mobile devices, such as smartphones and tablets constantly growing, attention is increasingly turning to mobile marketing, mobile commerce and mobile payments. It is still the case, however, that these trends are largely played out in specialised media, and do not influence the actual behaviour of consumers. This is especially true for mobile payments, with consumers very sceptical about this concept

As global commerce expands, so does payments complexity: How should banks respond?

The increased globalisation of business has opened up new challenges – and opportunities – for companies and the banks that serve them. Corporate treasurers and finance professionals face complexities in the payments arena that range from inconsistencies in local payment processing to new regulations, emerging payment clearing systems and the need to manage geopolitical risk in an ever-expanding array of countries. To address these challenges for their clients, and for themselves, global banks need to invest and innovate to make sure they have the solutions to meet business needs today and in the future.

Swift’s Chris Church: making plans for Sibos

As delegates finalise their plans to attend Sibos in Boston this month, Chris Church, chief executive Americas and global head of securities at Swift, discusses what they can expect

Moral hazard: the ghost of bail-outs past

The bailout of Espirito Santo Bank brings back unwelcome memories of the events of the last financial crisis and raises the spectre of moral hazard returning to the financial services industry both in the UK and abroad. But how far have we really come since those dark days of 2008 and the collapse of Lehman Brothers and how far do we still have to go? A quick look at recent events gives us a good indication.

The rise of the Asian superbroker

As the global banks grapple with tides of regulation, fines, and a myriad of other post-crisis issues, local Asian institutions are tooling up and stepping in to fill the gaps.

Should banks consider domestic payments schemes?

Domestic card schemes have traditionally partnered with MasterCard and/or Visa in an arrangement that leaves the domestic player handling the local transactions and their international partner facilitating and controlling the international business. Should banks work with both or just partner with one of the international schemes?

Viewpoint: The Case for Gift Card Exchange

Gift card exchanges play a key role in connecting motivated shoppers with retailers and driving incremental sales, according to survey data from Blackhawk Network. Consumers say they’d like to see more retail locations add gift card exchanges.

Blog: Emerging Trends in Prepaid Card Fraud

Fraudsters are ingenious at finding cracks in the bulwark against prepaid card fraud, but industry cooperation can blunt their effect with strategic practices that are surprisingly easy to implement.

Unlocking the potential of Africa

From Senegal to the Seychelles, and Botswana to Uganda, new demands and new opportunities are emerging in Africa, but there are still challenges

Trading automation, regulations, and systemic risk

The financial services industry has always pursued technical supremacy. But after years of financial crisis and attempted reforms to improve the transparency and understanding of risk exposure in financial services, we seem as much in the dark as ever …

Ready for the ‘summer of 39’ aftermath?

This summer, regulatory pressure on financial services firms has ratcheted up to unprecedented levels. Many may have breathed a sigh of relief as Dodd-Frank rule-making slowed … but the respite was only fleeting. Since July, the industry has been bombarded with 39 new consultation papers in the EU and UK alone

Don’t drown in over-regulation

It should be no shock that the risk for banks of being caught-out for non-compliant activity has soared in recent years in the wake of the global financial crisis of 2008. Banks are being monitored more closely now than ever before and it’s been difficult to escape without scrutiny or a heavy reputational impact.

CFPB Eyes the Big Ten (Aug. 11, 2014)

The CFPB is focusing on universities in the Big Ten Conference to see if these schools, some of the largest in the U.S., have appropriately disclosed their agreements with financial institutions regarding the financial products they offer their students. “Making these agreements available for all financial products shows schools’ and companies’ commitment to transparency, helping […]

Meta Out from Under Consent Order (Aug. 8, 2014)

MetaBank has been released from its Consent Order by the Office of the Comptroller of the Currency (OCC), according to an announcement by the bank’s parent company, Meta Financial Group.

New Payroll Law in Illinois Effective Jan. 1, 2015 (Aug. 7, 2014)

Paybefore typically confines discussions about state legislative and regulatory activity to the State Tracker section of Pay Gov. But after we published Pay Gov yesterday, Illinois passed a law that explicitly allows payroll cards in the state, subject to certain conditions.

SEPA Standards Take Effect in Europe (Aug. 7, 2014)

Cross-border payments in the Eurozone have reached a milestone, with Aug. 1 marking the migration deadline for all credit and direct debit transfers to comply with Single Euro Payments Area (SEPA) requirements.

Viewpoint: Why HCE is an Acronym You Need to Know

HCE moves payments credentials to the cloud, which could radically speed up mobile payments development. Analyst Sarah Grotta believes HCE also offers compelling leadership opportunities for prepaid card issuers.

Viewpoint: Jack Ma and the Discovery of Billions

Alibaba Group’s $7.5 billion empire lurks like a crocodile waiting to strike its next opportunity. What does the Chinese giant’s appetite mean for the worldwide payments industry?

Diebold: on the comeback trail

After a decade of being the ATM maker you’ve never heard of, Diebold is returning to Europe and a year into his tenure as president and chief executive at the firm, Andy Mattes thinks that the company’s profile is about to change.

MiFID II: hearing, skirmishing and planning for battle

The reason Europe calls it a regulatory ‘hearing’ is that it is an opportunity to hear views from both regulators and the market. Of course, that’s just part of the experience as many other senses are triggered when 400 people are locked in a basement for 2 days, deprived of connectivity, food and caffeine …

Entering the Banking Technology Awards – guidelines from the editor

Entries for the Banking Technology Awards 2014 have been open for a while now, but as we move into the last few weeks, this is always a time when we are flooded with questions about the process. By way of response, here are some guidelines based on my experience chairing the judging panel over the past 11 years.