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Millersvile
Member since
2013
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Writes about
Payments Regulation & Compliance Retail banking

Gerard's blog archive

2020 (1) 2018 (1) 2017 (2) 2016 (2) 2015 (3) 2014 (1)
Gerard Hergenroeder

Gerard Hergenroeder

Retired IBMer and Banking Executive at Payments Shark
Message Message me Posts: 10 Comments: 100
Bio Former Global Payments Executive at IBM responsible for solution sales Career History 1 Gerard is a seasoned professional in banking and payments 2 He started his career with Ford Motor Company then spent 20 years in banking 3 His last bank was acquired by the now Bank of America. 4 He helped Visa and MasterCard launch and grow their debit businesses 5 He also spent time as a c

Blogs

Futuristic Banking

An opportunity to transform the credit card world

08 May 2020

It has been awhile since I last posted a blog. I am sure everyone is thinkling about potential credit losses as a result of rising unemployment rates. In the U.S. it now over 15%. During the great mortgage recession in 2007 loan losses peaked at 10%. It took almost 10 years to get the loss rate below 5%. Just prior to the recesssion losses averaged...

8

Blockchain Observations

Bitcoin

09 May 2018

Warren Buffet and his thoughts on Bitcoin -- "Speaking to CNBC anchor Becky Quick ahead of Berkshire Hathaway's annual meeting in Omaha, Nebraska on Saturday, the billionaire investor said bitcoin — the largest and most well-known cryptocurrency — is "probably rat poison squared." I agree with Warren. Bitcoin has no real mass market...

 

I predict Bitcoin will crash in 2018.

08 Dec 2017

Bitcoin is a fraud, nothing more than a ponzi scheme. I do feel sorry for those people buying at today's prices. I remember studying the tulip crash in the 1600's. I predict Bitcoin will crash in 2018. When it crashes you get nothing, not even a beautiful tulip. Here's a list of market crashes: Market Crashes: The Tulip and Bulb Craze (1630s) Mar...

4

 

The payments industry is in the throes of a perfect storm

06 Apr 2017

The payments industry is in the throes of a perfect storm – the traditional payments business is at risk from excessive rising costs and disruption which calls for radical payments transformation (Content for these thoughts are Gerard Hergenroeder’s solely, not his employer IBM) Below are a list of proof points that bankers and payments people shou...

4

See all Gerard's blogs

Gerard is Commenting on

An opportunity to transform the credit card world

  It sounds like I am getting some opposition to thinking "big". There is no better time than now to reach for the stars. Promoting the status quo using existing schmes, platforms and brands does not create new and innovative solutions that can provide much more value to consumers, merchants and supply chain providers. Yes, think about supply chain providers in this new world. Old brands and technology serve the status quo. Consumers deserve the best from society. Technology, creative marketing, capital and people can do it! I'm the guy who did it 50 years ago. Why not now again? It is time to totally revamp payments schemes.  

12 May 2020 Reply Read article

An opportunity to transform the credit card world

  Those cards are co-branded. Synchrony Bank owns the loans and gets most of the profit. I am suggesting a much bigger play here. Namely, Amazon starts their own branded Network for all merchants just like Discover's and sets up their own Amazon Bank to manage the loans.

11 May 2020 Reply Read article

Desjardins COO and IT lead lose jobs over data breach

  I've seen many occassions where bank executives sacrifice security to make a few more bucks. It always comes back to get you. Never underspend on auditing and security.

05 Dec 2019 Reply Read article

EU banks contemplate rival to card schemes and Big Tech

  The key issue that this group will have to address to quid pro quo between merchants, merchant banks and cardholder banks. Tradionally, the quid pro quo has been between merchant and cardholder banks. Making merchants a part of the formula could be game changer.

12 Nov 2019 Reply Read article