477 Results from 2007
Retired Member
According to a recent statistic published by China Union Pay, Chinese banks have issued more than 1.3 billion debit, credit and ‘quasi’-credit cards through the end of September. This means that, on average, every man, woman and child in China now carries a piece of plastic. Quite a staggering number and, at first glance, quite promising. Howe...
07 November 2007 Asia Financial Services
In July, 2003, the Pentagon's Defense Advanced Research Projects Agency (DARPA) scuttled an ill-conceived terrorism futures market. While the project was a political failure, the idea underscores the ongoing need for innovative thought in the area of indications & warning (I&W). The construction of a terror futures exchange wherein marke...
06 November 2007 Information Security
Regulating interchange fees would eliminate a powerful incentive for payment schemes to create innovative products and services which benefit merchants. Payment schemes should be able to compete with each other to make their products more useful and valuable to merchants, their incentive being the ability to generate higher interchange and, in con...
05 November 2007 /payments
Alan Goodrich Regional Sales Manager at ERI
The subject of “Innovation in Financial Services” seems to highlight a real and present danger that many senior bankers are struggling with... i.e. how to achieve the “plumbing” and innovate simultaneously, in particular around the corporate financial supply chain... Did you make it to SIBOS this year? Well, the good news was that SIBOS focused a ...
05 November 2007 /payments /sibos Financial Supply Chain
In 2003, Yale University professor Dr. Robert Shiller ("Irrational Exuberance") published his widely heralded tome, "The New Financial Order: Risk in the 21st Century." In it Shiller lays out his ideas for "radical financial innovation," and, specifically, the development of financial products and services which pro...
03 November 2007 Trends in Financial Services
These are difficult times for investment banks. I will spare readers a painful rehash of the past three months, but suffice it to say that the days of the centrally-planned, highly conglomerated uber-IBanks are clearly numbered. To survive going forward, investment banks must embrace a doctrine of strategic differentiation. The future financial la...
02 November 2007
Paul Penrose Head of Research at Finextra
Panelists in the exchange consolidation session at Finextra’s Fintech M&A event in London on Tuesday were asked to look ten years into the future and hazard a guess at the likely winners in the global exchange race. Lee Olesky, president of Thomson TradeWeb cast his vote in favour of a new entrant – a Google or Facebook for the financial servi...
02 November 2007 /retail /wholesale Finextra50 fintech index
If you like British comedy, you may remember that old John Cleese sketch about “What did the Romans do for us?” OK, they gave us a legal system, the basis for our language, roads…but besides that, what did the Romans do for us? So MiFID’s here – what’s MiFID done for us? Well, NYSE has bought (not merged with) Euronext, so in one move it owns excha...
PwC released this study a few months ago titled "Internal Audit 2012* - A study examining the future of internal auditing and the potential decline of a controls-centric approach" Five key trends were identified as: 1. Globalisation 2. Changing internal audit roles 3. Changes in risk management 4. Talent and organisational issues 5. Techn...
01 November 2007 Internal Auditors in Financial Services
Hmmm... I wondered whether it was worth blogging about anything other than MiFID this week... but then decided that perhaps someone might want to read about something else..? Anyway, I finished my previous blog on the funds distribution topic with Tim Keaney’s (co-CEO at BNY Mellon Asset Servicing) statement at SIBOS that “more than 80% of the tra...
01 November 2007 /sibos Trends in Financial Services
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