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Elton Cane

Digital product delivery

News Corp Australia

Member since

16 Feb 2007

Location

Brisbane

View Elton Cane's full profile

Elton's opinions

Update on Halifax EMV lawsuit

We were contacted recently by Alain Job, who filed a lawsuit last year against Halifax over an alleged fraud instance on his EMV chip card, for which the bank is holding him responsible. Our news story here, and good analysis by Finextra Community members here. Alain says the case is due to be heard in April this year and wanted to answer some of t...

12 February 2009 /security Transaction Fraud Systems and Analysis

Reversing the hardware to software trend

It's quite common for hardware manufacturers to expand into also offering software that manages and/or runs on their servers or other devices. But it's far less common to find a large pure-play software company getting into the hardware business. But it's perhaps not surprising that Tibco is moving in this direction, given that demand for low-late...

06 February 2009 /wholesale Going green

The joy of transaction-based recurring revenue

Intelligent Environments appears to have lived up to the first part of its name with the revenue model it has in place with a growing number of customers. Not only does it take a small one-off fee each time a consumer submits an application online for one of its customers' card or bank account products, but the company also takes an annual fee for ...

20 January 2009 /retail Going green

World Bank bans Satyam for 8 years over lax ethics, security

Fox News has been dogged in its pursuit of scandals going on at the World Bank, including the hacking cases we wrote about in October. To add to Satyam's recent woes, they have now confirmed that Satyam has been banned from working for the World Bank for eight years, starting from September. Apparently the punishment has been meted out for paying ...

23 December 2008 /security /wholesale Information Security

Post-mortem of a market closure: When the chips are down

Quite often when an exchange has to close due to technical problems, the detail of what exactly happened is kept hushed up (e.g. LSE TradElect glitch in September). But TMX CEO Thomas Kloet has been quite candid with The Globe and Mail about what went wrong with their data feeds this week. Apparently the cause was a firmware problem on the feed se...

19 December 2008

People still trust the financial services industry

Well, at least they do in the US when it comes to protection of personal data. Despite frequent stories about data being handled irresponsibly in the industry, six of the top 20 firms in the Ponemon Institute’s fifth annual survey of Most Trusted Companies for Privacy are financial services firms - and American Express holds on to the no. 1 slot fo...

17 December 2008 /security Information Security

Linking investment bank remuneration to risk assumption.

Earlier this week The Guardian had an interesting piece on the bonus culture at investment banks. The Financial Services Authority has written to the chief executives of major firms to urge them to review pay policies to ensure they take account of the risks being run by traders. And UBS is already moving in this direction by devising a system th...

12 December 2008 /regulation /wholesale Innovation in Financial Services

Vendor risk: The tables have turned

I was speaking to a software vendor last night who recently had a big project go live at one of the UK's largest banks. When the project was first signed, the vendor was quite a small company (though it has since been acquired). Because of its size, they had to jump through all sorts of hoops to get the deal done, with the bank quite sensibly wanti...

10 December 2008 /payments Finextra50 fintech index

MiFID created no extra demand for IT or services

At least that's the view of Knowledge Technology Solutions (KTS) CEO Andrew Miller. KTS is soon to adopt the brand of its Sep. '07 acquisition, Arcontech, after closing its original market terminal subscription business. In the company's interim earnings statement today, he says: "The implementation date for the much discussed Markets in F...

28 November 2008 /wholesale MiFID

Will government backers stifle innovation?

Will state involvement in bank ownership stifle innovation at those groups that have taken bail-out money? As banks step back from serving the low end of the economy, which is perceived as too risky, will governments have to step in and offer basic financial products to this sector of the economy? I had an interesting discussion over breakfast at...

19 November 2008 /retail /wholesale Innovation in Financial Services