FarageGate shows the ‘Trusted KYC Data Sharing’ project must be stopped

Whatever one’s opinion of Nigel Farage, the concept that he can be de-banked should be troubling to everyone. It should be even more troubling to those familiar with the financial industry’s measures ...

Banking

Silicon Valley Bank UK saved! UK tech and fintech pantomime can finish its spring season!

As previously published on News Uncut, courtesy of Jasmine Birtles of Money Magpie and regular columnist in the Daily Mail. It must be great to have money, status and power. A few phonecalls and email...

ISO20022 – The Great Leap Sideways

The payment industry’s migration to the ISO20022 XML data format promises much, or rather the list of promises is long and the same as it has been for a long time, and is very promising: richer data, ...

Card-acquiring market remedies for the UK: as usual, the PSR rolls over

On 6th October 2022 the PSR published its Final Decisions under reference PS22/2 on its ‘work’ on Card-acquiring market remedies, a major and multi-year programme on the costs for UK merchants of acce...

UK’s New Payments Architecture now to be a bungalow

What started out as a Temple of Solomon to revolutionise the UK’s payment systems will now be reduced to a more manageable bungalow-sized development. Multiple layers collapse down to one. The UK's Pa...

UK Faster Payments

Unicredit ejects the pilot as it prepares to be stuffed in merger with Monte dei Paschi

Jean-Pierre Mustier is to step down as CEO of Unicredit Group, in which he restored Faith and Hope over the last few years. He baulked at Charity: agreeing a merger with Monte dei Paschi di Siena (MPS...

Protecting global financial markets from Eurozone systemic risk

The Euro is a currency without a Eurozone sovereign legal person backing it. Swathes of Eurozone financial assets are rated and accounted for as if there was such a legal person, whereas the backing f...

MT202 COV defunct thanks to court decision

It is surprising to find nothing on the agenda of SIBOS conference or the SWIFT Payments Market Practice Group about the recent court decision that negates vital content of the SWIFT Message Reference...

iPagoo’s insolvency puts question mark against NPA

We have recently blogged about NPA and Pay.UK’s loose governance procedures generally, but we need to focus in on the case of iPagoo/Orwell, and its implications for New Payments Architecture (“NPA”),...

Netting and pooling, not the same: unless you are the ECB

[First published by AccountingCPD] Many multinational corporates have a pooling arrangement for the cash balances owned by their various subsidiaries. For example this could be with Bank Mendes Gans i...

Pay.UK governance and ongoing indications of a fiasco

Having taken a break from following the governance of Pay.UK for a while, a quick skim underlines the prevailing chaos. We have already written about the ditching of a key feature of ISO20022 XML and ...

Pay.UK Board ditches main benefit of ISO20022 adoption

Pay.UK was set up to deliver a New Payments Architecture (“NPA”) for the UK, implementing the blueprint that was passed to them by the Payment Strategy Forum. NPA would be based on the usage of the IS...