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Great post Darren,
I agree this tinkering is the equavelent of Nero fiddling while Rome burns.
Such "Grand Schemes" as CASS seem doomed, as their sheer cost and timescale makes them irrelevent even before the design is signed off by the multitude of "stakeholders". Surely someone should veto such schemes based purely on the incredibly bad cost/benefit
(as you have so shown so clearly).
The Account Number Portability (ANP) is even worse. it is like taking your postcode with you when you move house. ALready is is being rendered pointless by third party identifiers, e.g. the mobile phone number as used by Paym.
Banks should indeed innovate, and not pander to the committes drawing up these "Grand Schemes".
I couldnt agree more. I plan to switch to Atom when it launches for precisely the reason that I want to experience innovation as a customer
Director of Services
27 Nov 2014