293 Results from 2013, /payments
Julian Farley
The BBC recently published an interesting article “Why banks are likely to face more software glitches in 2013”. This is something that we should all be concerned about. As payments become more of a commodity, we expect availability and demand convenience. We all struggle to manage our finances, make sure we pay our bills on time, only to be let ...
08 February 2013 /payments /retail
Retired Member
The Financial Services Club released their latest survey research last week – The Changing Face of Payments 2013. The survey had responses from 450 financial services professionals in a total of 63 countries, with the majority from UK and mainland Europe. The survey builds on a similar exercise last year, asking which infrastructures are most im...
06 February 2013 /payments Innovation in Financial Services
Exponential A year after the iPhone was launched, Nokia's CEO Olli-Pekka Kallasvuo was still bullish: “iPhone is a niche product.” Five years later, Nokia lost its mobile crown to Apple. What didn't Nokia know back in 2008? The concept of exponential: it takes just 49 minutes to fill a huge stadium with water, starting with a single drop and do...
Nick Ogden Chairman at Ogden Research
Yesterday, given that it was a Monday, was an interesting day in the UK. We confirmed that we had exhumed Richard III and then George Osbourne had this to say. “Payments systems sit at the heart of the banking system. They are the hidden from view wirings that operate every time you get wages paid into your bank account, deposit a cheque or withdr...
05 February 2013 /payments Innovation in Financial Services
Jp Nicols Managing Director at FinTech Forge
Banks don't even show up on Booz & Co.'s Global Innovation 1000 spending report. They are lumped in to the "other" category of all industries except the top nine. All of the other industries combined only account for 2% of the $603 billion spent on research and development in 2011. Average R&D intensity, that is R&D spending...
04 February 2013 /payments Innovation in Financial Services
"Many Americans would rather clean toilets than try to come up with a new username or password for sites requiring online logins, a new study shows."* Protecting confidential information within biller self-serve websites through enrollment, and the choosing and remembering of a unique username and password is a process that is universal...
31 January 2013 /security /payments
It’s that time of year again… the RBS 6 Nations kicks off this weekend and as a result so does (the arguably more important) Finextra Fantasy League on ESPN Scrum.com. As with previous years, it’s free and easy to play and Finextra will award a bottle of champagne to the winner. There is a ‘lucky-dip’ team selection option so even if you have no id...
31 January 2013 /payments /wholesale After hours
I’m in the Netherland today, talking to financial institutions about Payments. Since the Euro was introduced in the EU, the challenge for payment processors has been pretty clear: how do you become the lowest-cost processor of Euro-denominated payments in the world? Standardisation across multiple countries creates opportunities and threats. Whe...
30 January 2013 /payments
Last week I noticed new swedish mobile payment approach, which adds all current debit payment options but is done with mobile phone app. Idea in general works like this. Customer links his current account in his online bank to Swich account and adds his mobile number, verifying account customer gets text message to confirm account. Then downloads ...
29 January 2013 /payments
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
Soon after I wrote CTS2010: Cheque Truncation Or Contract Termination System?, a senior banker averred to me in private that India's cheque truncation program had a lot of loose ends. A friend of mine who used to work for a CTS solutions provider pointed out that the program had an ever greater impact on NBFCs than banks (For the uninitiated, a No...
29 January 2013 /payments /retail
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