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Millersvile
Member since
2013
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Writes about:
Blockchain Mobile & online Payments Regulation & Compliance Retail banking Innovation Transaction banking

Gerard's blog archive

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: 9 Comments: 94
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

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...

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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...

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The repeal of Dodd-Frank will create a flury of innovation in the U.S.

11 Nov 2016

Dodd-Frank legislation created a heavy compliance burden for financial insititutions. Hundreds of billions of dollars have been spent on compliance and fines. Most banks' IT budgets today have a ton of compliance projects. Some banks are spending 35% to 50% of their IT budget on compliance alone. Aside from the IT spend for compliance the number o...

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Gerard is Commenting on

What is the actual use of cryptocurrencies?

  Bitcoin is NOT a mass market currency. It has little or no value in the marketplace. Remember the tulip bubble!

05 Aug 2019 Reply Read article

Capital One data breach leaves 100 million vulnerable

  Why am I am surprised? Many banks like CapOne have rushed to the clould  thinking they have all their bases covered. Not so! Clould providers, especially Amazon, do not have 50 years  experience with running large enterprise platforms with sensitive customer data. After all expenses from this disaster are accounted for, CapOne will have realized that they should have taken a hybrid approach to cloud computing and realize that they should never put their customer at risk in the cloud. I was a trusted advisor on a cloud payments projects and insisted that they use hardware encryption devices. Amazon told the client that their security software were correct. At that point I left the project.

30 Jul 2019 Reply Read article

American FIs prepare for faster payments revolution

  Faster Payments will have a major impact on U.S. payments systems. Wire transfer, check and even credit and debit cards will experience disintermediation. The major banks will create their own connections with emerging Faster Payments networks; while, smaller institutions will continue to use third party processors. There will be multiple networks for Faster Payments as it is with credit and debit cards today. The evolution of Faster Payments services will first be P2P followed by B2B, then lastly C2B. Financial instutitions need to envision what payments will be 10 years from now; and then the plan accordingly. Everything will change including application systems, customer interactions, marketing and rules/regulations. Institutions need to prepare a payments plan including specific roadmap actions along with appropriate investment funding.

08 May 2019 Reply Read article

Aussie payments startup Airwallex raises US$100m

  This is great news for consumers. The traditional banks have lost their innovation edge in the past 25 years. In the U.S. credit card pricing is a burden on many consumers. The industry still uses predatory pricing practices with lots of fees! Go Apple. Competition will be good for consumers.  

26 Mar 2019 Reply Read article