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Innovation in Financial Services

Archive for: December, 2011

Salil Ravindran - Oracle - Amsterdam | 30/12/2011 | 3194 views | 3 comments

Are banks adopting wallets and contactless the right way

NFC contactless and m-wallets have a significant role to play in the future of mobile financial services and mobile commerce. As much as we know this for a fact, banks have been sceptical in their minds and slow in their approach to embrace contactless payments while being much slower on wallets. The million dollar question is whether they are doin... Tags: Payments, Retail banking

Bo Harald - ZEF Solutions - Esbo | 27/12/2011 | 2361 views | 1 comment

Taiwan setting targets - 4 bn e-invoices in 2013

Su Chun-jung, the director of the Financial Data Center (that is resided under the Ministry of Finance) stated that: around 100 million e-invoices will be issued in Taiwan by the end of 2011 that figure will expand to 2 billion by the end of 2012 4 billion e-invoices will be issued in 2013. in 2013 50% of all invoices in Taiwan are e-invoices... Tags: Online banking, Payments

Bo Harald - ZEF Solutions - Esbo | 27/12/2011 | 2756 views | 1 comment

Russia moving towards e-invoicing

"On the 26th of December the Prime Minister of Russian Federation Vladimir Putin signed the resolution “About the forms and rules of filling and exchanging documents for VAT management”. This document established the rules of use of invoices, sales and bough daybooks and a log book both in paper and electronic forms. Electronic invoic... Tags: Online banking, Payments

Bo Harald - ZEF Solutions - Esbo | 22/12/2011 | 2507 views | 1 comment

Just like payments - in sight

With the establishment of eeSPA http://www.eespa.eu/EESPA%20Press%20Release-2011-12-15.pdf we now have the organization in place to drive towards e-invoicing functioning “Just-like-payments. You sign up with one and you reach your customer or supplier globally. Every enterprise is here free to choose their own service provider – nobody ... Tags: Online banking, Payments

Brett King - Movenbank - New York | 22/12/2011 | 3235 views | 1 comment

How the post office is killing identity verification

There has been a 25% decline in the total mail volume for the USPS (United States Postal Service) from 2006-2011, resulting in a $5.1 Billion loss in 2011 alone. Since 2007 the USPS has been unable to cover its annual budget, 80 percent of which goes to salaries and benefits. In contrast, 43 percent of FedEx's (FDX) budget and 61 percent of United ... Tags: Risk & regulation, Retail banking