Is there a contradiction at SWIFT?
When it comes down to standards in the finance industry SWIFT is the body that everyone looks to for a lead. They of course are often blamed for having a foot in two camps and this just comes with the territory, when you're SWIFT but when it comes to developing new standards they must surely either stay neutral or sit on the side of the table t...
Telly-Teller ATM from IBM or a mobile in your pocket?
I think the telly-teller is a great initiative to cope with unexpected in-branch demand, but if banks misuse it there could be repercussions. I don't want sensory overload from an honour guard of beseeching screens flanking the path to the human at the branch. I had to think about how I feel during the branch experience and how I feel afterwa...
Virtual Tellers? What about all that investment in the ATM?
Am I missing the point here? Most teller capabilities are already available at advanced functionality ATMs and self-service devices. The reason that many people still use the teller to conduct these basic transactions is presumably because they don't feel comfortable using self-service. In which case, the virtual teller isn't really going t...
Banks invest in reducing latency in 2008
A poll of leading investment banks by COLT Telecom has revealed although the credit crunch is likely to impact front office spending this year, the majority of firms still expect to invest in reducing the latency of their trading systems. All of the Finance IT professionals who took part in the survey, conducted at a recent COLT customer event in L...
SWIFT Ready Gold for ISO 20022
As we see the push for ISO 20022 gather momentum many questions begin to take hold and one can look at previous like projects and learn from what was considered a success and things that did not go so well. One of the ISO15022 success stories was the creation of a SWIFT Ready Gold label for technology enabling implementation. This proved a very goo...
Prompt responses to tragedies - by the wrong guys!
We have seen two major natural calamities in the past week -cyclone in Myanmar and an earthquake in China. The Internet is abuzz with relief measures and donation outpourings. A lot is being made of the fact that a social networking site Twitter was the first to throw up the news of the quake in China. Also, many bloggers/geeks are noting with appr...
Responding regionally to credit card fraud
My first reaction to the news of Citi's special concierge (in which a reliable intermediary facilitates Singaporean online shoppers using US web stores) was, well, someone's going to be paying a nice premium for this security service. Probably merchants and cardholders alike. Presumably the service only accepts Citi cards? But another res...
Bank of Mars announce 'Wally the Robot' valet purchasing
Mars News 2015 Citi read first Due to a total failure of trust in financial instruments, HomoDuoCerebrus Inc, makers of military grade humanoid warrior robot 'Wally the Robot' has teamed up with the Bank of Mars to provide a valet buying service. Simply use your anonymous Bank of Mars card and make any purchase from any merchant anywhere an...