1137 Results from 2015
Retired Member
The Office of the Comptroller of the Currency (OCC) has begun the process of forcing large banks to conform to its heightened expectations for risk management. Evidence of what these new standards could mean for banks came earlier this year when Bank of America announced it would realign its compliance function with risk management. The decision c...
09 March 2015 /regulation
The Durbin Amendment has failed on its promises to US merchants with savings eroded by misapplied caps and replacement fees from card networks and acquirers, while only the savviest merchants are able to achieve the full benefits. The regulation, first introduced in October 2011, was designed to offer merchants relief against debit card interchang...
09 March 2015 /payments /regulation
Derek Garriock Innovation Director at Experian
Recent research on account opening from McKinsey looked at the sales conversion rates for branch versus digital and found what looks like a huge gulf in success. The research suggested that in-branch sales converted at a rate of 85% whilst digital channels averaged a 15% conversion rate. At first glance these figures suggest that branch is king wh...
09 March 2015 /retail
When you think of banks and financial institutions, agility isn’t usually the first word that springs to mind. More oil tanker than speedboat when it comes to making sudden changes in direction, it’s no surprise that so many banks have been slow on the uptake when it comes to delivering meaningful mobile banking services that put performance at th...
09 March 2015
Robert Siciliano Security Analyst at Safr.me
Privacy used to mean changing clothes behind a partition. Nowadays, say “privacy” and people are likely to think in terms of cyberspace. Stay connected, and you risk losing your privacy. Even if you’re not connected, don’t even own a computer or smartphone, information about you can still be out there on the Internet, such as a listing for your add...
07 March 2015 /security
Prasenjit Das Senior Director at Virtusa
It can be said with reasonable authority about the contemporary global banking system that investors in bank securities and counterparties to banks’ derivatives conduct their transactions on TRUST and not on trustworthy ratios that can help them assess banks’ true credit quality. As we draw parlance to Greece , since the Global Financial Crisis of...
07 March 2015 /regulation Banking Regulations
Valentines day was sealed with a less than loving glitch for retailers this year. Thousands British businesses were left helpless after a technical fault hit their card payments system, on Valentine’s Day weekend. The outage from Global Payments is the latest in a long line of IT glitches from the banking and payments sector. We’re less two months ...
06 March 2015 /payments
It finally happened! Finextra has received it's first notification from Google that one of our articles will no longer be listed on its Euoprean-based search results. This is due to a European data protection directive. In a message to our Web Team, Google stated that, "Due to a request under data protection law in Europe, we are no longer ab...
06 March 2015 Whatever...
It is hard to remember back to when a person could only send an SMS to someone else who was using the same Instant Messaging (IM) platform. Interoperability was eventually worked out between IM platforms back in the 1990s. This post looks at mobile money systems around the world today—which lack interoperability—and how this situation will like
05 March 2015 /payments
The term “derisking” has been used in the financial services industry for quite some time, most recently, due to increased regulations. Financial institutions and their boards are discussing how they can further derisk themselves from certain high risk divisions. Businesses such as money transmitters, casinos, certain foreign banks and derivative...
05 March 2015 /regulation
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