Dave Barnes

Strategic Design Manager at .

Message Posts: 3 Comments: 16

Bio Technology Solutions for business gain. High level design of financial systems, attempting to get the best for the business and technology. Career History Technology Solutions Infrastructure Architecture Strategy & Architecture Retail Architecture Development Consultant Developer Contract Developer Developer S/W Engineer

Blogs

Innovation in Financial Services

NFC Options for Banks

29 Mar 2011

In response to the blog about "Google partners Citi and MasterCard on NFC m-payments", I thought I would give you my thoughts on the NFC options that are out there. It might only be Citi for now, but I suspect all of the major banks are looking at this. There are effectively 3 ways of achieving NFC in your phone/mobile device and each ...

Options for Banks - A winner all round

12 Jan 2009

I can see the benefit of enabling customers to retrieve and spend all of their money, especially for those customers that really depend on their last £10, including thse not so well off, children and students (obviously). However, this does strike me as a potentially cynical move on behalf of the ATM provider. If there is a £2 charge to collect you...

A flawed business model?

12 Feb 2008

It comes as no big surprise to me that Monitise are making further losses. With a business model that charges customers for transactions that they can get for free from many other channels, 20p for a balance enquiry, it’s no wonder that the consumers are staying away in their droves. Today the technology is ready, but it’s not moving towards appli...

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Dave is Commenting on

Fico correlates locations of mobile phones and card transactions to tackle fraud

Andrew, John, don't think of this as the only thing that wil be used to determine if this is a valid transaction or not, just another layer in the security onion. And as for the data cost, then that's always under your control. If it only happened when you made a trasaction, it would be so infrequent that you would never notice it. You can turn it off if you like, but you would lose the other features that are already enabled on the app, like balance notifications. It's also highly unlikely that any bank would refuse transactions based soley on the location of the phone, at least at this point in time. However, think about what this could do when you link it with a real time data analysis engine. The link between the phone and the card transaction is strong. It is possible to tell where the user is whether they are at an ATM or carrying out a PoS transaction is a shop. You can even narrow this down for internet transactions as the system can know where you are and where the transaction is originating from. What I'm not sure about is why a bank would need the Fico system though. Their phone app could just interogate the phone and compair its location with the transaction location. And Andrew, lending your card to someone else and giving over your PIN is definetly a big no-no. And then admiting it in print...

06 Nov 2013 Reply Read article