Nick Ogden

Founder and Director at RTGS.global

Message Posts: 47 Comments: 55

Bio I invented e-commerce in 1994 and ever since I have been passionate about business change and market transformation. With various excellent teams, I have also been fortunate to have had some success with my start-up ventures. Career History Founder of WorldPay Founder of Voice Commerce Group Founder of Cashflows Founder of VoicePay Founder of ClearBank Founder Business.co.uk Founder of RTGS.com and RTGS.Global

Blogs

Banking Strategy, Digital and Transformation

The Start

20 Apr 2020

The announcement this am that the UK Government is supporting tech startups with up to £1.2Billion is great news, and as I predicted last week, matches the existing approach used by the BCR, the Banking Competition Remedies Scheme. That scheme albeit still in its early days is showing real results amongst its fintech participants. This scheme ann...

Fintech innovation and startups

How do Fintech entrepreneurs get help?

08 Jan 2018

One interesting option is through the SETsquared Entrepreneur Programme for Tech Start-ups which has its next 2-day programme in Guildford - 1st and 2nd February 2018. SETsquared is the world's largest university based business incubator and has supported over 1,000 hi-tech start-ups to develop and raise more than £1.25bn of investment This progr

Negative Interest Rates - UK banks introduce plans to charge their customers

04 Feb 2016

Who could have predicted that in 2016, following the disasters of 2007-9 that the main banks in the UK would be planning for negative interest charges against their business customers. Never, absurd, I hear the cries of common sense but sadly true as many business customers are finding out today in their post. I quote "The interest rate we ...

Competition probe, your views count!

18 Jul 2014

Great News today! At last we are going to get some action over lack of competition and the shape of the financial services market for the future but only if we all engage. Alex Chisholm, CMA chief executive, is quoted as saying it was "vital" that the banking sector worked properly, which was why the full eighteen month investigation was ...

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Nick is Commenting on

Curve promises Amazon Visa ban hack

From Amazon today "The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19. We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk.  Should we make any changes related to Visa credit cards, we will give you advance notice. Until then, you can continue to use Visa credit cards, debit cards, Mastercard, American Express, and Eurocard as you do today. Thank you for being an Amazon customer."

17 Jan 2022 Reply Read article

BIS calls for feedback on proposals to extend RTGS operating hours

I have been asking for this change for years, even explaining to Mark Carkey personally in his office at the Bank of England the need for the UK to take a leadership role in 24x7x365 RTP, allowing us to catch up with systems in India and Australia. The fastest way for the global economies to recover from the impacts of the Covid 19 pandemic is to reduce the $15TRN a year costs of financial friction. By accelerating wholesale interbank money flow, economies will perform more efficiently, and domestic employment and growth will flourish. At RTGS.global we are now working to operate a global pilot with regulators and prudential banks that not only demonstrates this immediate efficiency but also illustrates how interbank risks can be substantially reduced.

24 Nov 2021 Reply Read article

JPMorgan estimates CBDCs could save corporates £100 billion in transaction costs

@ Christopher, we can deploy this capability for central banks and commercial banks on our network next year... Banks can however start testing today.

04 Nov 2021 Reply Read article

JPMorgan estimates CBDCs could save corporates £100 billion in transaction costs

The wholesale CBDC opportunity is a massive win for Regulators and Banks alike. They substantially reduce or remove credit risk, the cause of the last Global Financial crisis. In addition, they potentially change RWA assets to HQLA assets, reducing bank capital costs. In my view, the immediate opportunity is to fix the wholesale markets, and that goes a long way to reducing the $15Trn of financial friction costs that we (at RTGS.global) have been exposing for the past 2 years.

04 Nov 2021 Reply Read article