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On September 23, 2009 I discovered a vulnerability on Barclays online banking service which permitted a remote adversary to peruse customer bank statements. Barclays were immediately notified, but def...
In April this year, CIFAS – the UK’s Fraud Prevention Service reported that there had been a 20 per cent increase in the number of identity fraud victims in the first quarter of 2010 compared to the s...
What survival mantra are banks chanting today? Customer experience? Inclusivity? Agility? Cost optimisation? Efficiency? Done right, channel innovation can enhance all of these to become a means of co...
Yesterday was the final day of EBAday and, as expected, many of the sessions focused on the challenges that banks are currently facing as they integrate SEPA with their domestic payments infrastructur...
Today marks the second anniversary of the Faster Payments Service that has helped reduce UK payment processing time from three working days to near real time. According to a recent Payments Council re...
As the banking industry reflects on the aftermath of the recent financial crisis, the first day of this year’s EBADay in Luxemburg began with discussions on how banks need to regain trust of their cus...
The second birthday of the UK Faster Payments Service (FPS) is upon us. However, the scheme still has a few teething problems that need to be straightened out. On the one hand, consumers’ use of the s...
Some charmingly inept robbers have completely demolished a bank in Malliss in Germany by somewhat miscalculating the amount of explosives needed. Despite the devastation, the ATM remained intact and t...
This week saw the announcement that six brokers are going to publish their dark pool volumes in a bid to improve transparency of non-lit trading in Europe. The report is published by Markit and is av...
As everyone who has ever watched or read a science fiction thriller knows; there is always an evil scientist somewhere in the background to blame. Frankenstein's monster destroys--blame Frankenstein....
The 2008 $48 billion VISA and Mastercard interchange fees that Senator Durbin mentions all throughout his bill is as a result of $2.864 trillion of VISA and MC debit and credit card charges. What this...
Were consulting firms among those culpable for the financial crisis? Back in 2002, Business Week (July 8th issue) raised the question in the midst of the Enron scandal where McKinsey was a major advis...