1135 Results from 2009
Stanley Epstein Associate at Citadel Advantage Group
The news item "Staff cuts ‘inevitable' as Swift contends with declining volumes" (FINEXTRA News, 14 September 2009) triggered some wider thoughts that I would like to share. SWIFT's need to restructure and to contain operating costs is not in my view simply a result of the financial crisis and the downturn in message volumes. There is als...
15 September 2009
Retired Member
As the typhoon raged over us here at Sibos last night, I couldn’t help but think of the new storm that is brewing over the western banks as we speak. The reason I thought this was that ironically the cause of this storm is here in Asia. As an active player in the Asian market, we have been cautiously optimistic to see our Asian customers and prosp...
15 September 2009 /payments /sibos
Following the collapse of the sub-prime mortgage market in 2007, various government authorities and corporate organisations across Europe have reported losses from investment in derivatives products as a result of credit markets unravelling. But haven’t we been somewhere similar before? In the late 1980s, the London Borough of Hammersmith and Fulha...
15 September 2009 /sibos
Stephen Wilson Managing Director at Lockstep Consulting
Randy Vanderhoof of the Smart Card Alliance speaks a great deal of common sense about end-to-end encryption. It won't do anything to prevent replay attacks, nor to take the value out of stolen ID data. All it does is protect data-at-rest at intermediaries, and data-in-motion through a portion of the payment processing chain. So the black market ...
14 September 2009
I started out trying to improve consumer processes and interactions. This entailed connecting the dots between what was already out there in a consumer friendly and easy to adopt manner. It was pointless without connecting the financial dots because that was literally where the money was in the process. Hence the transaction system, which could hav...
14 September 2009 /payments Whatever...
Payment Systems in Nepal - Vision 2009-2012 Submitted to: Nepal Rastra Bank Mission Statement: To develop an effective, efficient, reliable, accessible and secure payment system that is relevant to Nepal’s environment and fully supports customer and the country’s needs: 1. Introduction Payment & Settlement System plays crucial role in effective...
The BBC have put a priceless collection of items from Tomorrow's World online. If you've not heard of it, this used to be essential viewing on BBC1. It was a weekly look at science and technology which managed to cover all manner of exciting new developments without the obligatory dumbing down you get now. I believed it all - computers would do al...
14 September 2009 Video extravaganza
I'm hoping that we're not starting a new tradition of "crisis Monday" at Sibos. Last year, it was fears of banking system collapse and this year it's the imminent typhoon threat to the over 5,000 attendees at the Hong Kong Conference and Exhibition centre. Perhaps to get it out of the way before Sibos had properly started, the industry an...
14 September 2009 /payments /sibos
That’s the question that Joseph Yam, CEO of the Hong Kong Monetary Authority, asked the Sibos audience in this afternoon’s welcome address. Specifically, why did it take so long for Sibos to come back to Hong Kong, having last been here 18 years ago? (I agree we should have come back sooner! ) Mr. Yam reflected on the witnessed over that time. Ref...
14 September 2009 /regulation /sibos SWIFT Matters
Gareth Ellis Account Manager at ACI Worldwide
Reflecting on the three days of the EFMA conference, it seems collaboration has emerged as a key factor in driving further innovation in payments. Let’s take the example of mobile payments which has been at the centre of a number of discussions at the show. It seems the two main players – the mobile network operators (MNOs) and the banks – have rea...
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