Global Payments & Transfers Insights
5th April 2018
Advocates of biometrics would have us believe in some dystopian future where customers have microchips embedded in their palm for seamless payments.
But what are the real use cases for biometrics beyond what is a far-off sci-fi fantasy? Well, at least 6+ months far off.
The customer-centric trend continues to grip retail banking, as any... read more
4th April 2018
The big banks are besieged on all fronts by challengers baying for change and pushing for disruption. It leaves the likes of Barclays, RBS, HSBC and Santander with two options: innovate or sink.
But fending off agile challengers whilst keeping the massive, cumbersome business-as-usual leviathan going is no easy feat let alone being proactive in... read more
2nd April 2018
In which department does GDPR sit? How will GDPR affect me? What happens if I’m breached? What are the fines? No, really, what are the fines? Thus reads the internet history of any number of data protection officers in the financial industry.
May 25th, implementation day, is 56 days away. As part of our ritual (and sadistic) reminders,... read more
29th March 2018
The customer is often considered king, but it’s debatable how many organisations embrace this perspective. Of course some are better than others, and the most successful enterprises constantly adapt to meet evolving customer expectations. Those that have followed this key business rule have come to redefine and raise the standard of customer... read more
29th March 2018
Brexit stunned financial markets.
As regulators in Paris were in the midst of establishing the largest set of rules to define European markets ever - in the second Markets in Financial Services Directive (Mifid II) - the UK’s determination to leave the European Union caused uproar across the continent, raising a multitude of questions for... read more
27th March 2018
It seems like we can’t go a single news cycle without a dozen or so articles outlining the catastrophic plunge or meteoric rise of any one of the hundreds of cryptocurrencies now flooding the market. While it’s great to see innovation in the financial arena, I can't help but wonder: should the payments sector really be a place where... read more
26th March 2018
The term ‘financial crimes’ often brings to mind issues such as fraud, lottery scams or credit card skimming, but today there are far-reaching crimes that many fail to consider. This includes money laundering, human and drug trafficking, the financing of terrorism, and the bribery of public officials, all of which are much broader... read more
26th March 2018
Payments infrastructures worldwide are facing intense pressure as the pace of change in the payments ecosystem continues to accelerate. End users demand faster payments and service providers want to be able to offer new services that differentiate them, while at the same time regulatory demands are increasing.
In Canada, as in many other... read more
23rd March 2018
For many years correspondent banking was something of a forgotten element in financial services. The main reason for this was inertia in the market; banks were perfectly content with their correspondent banking relationships and the utility of the SWIFT network, which evolved little for decades.
All that has changed in the past decade, and the... read more
21st March 2018
Since the introduction of ACH payments around forty years ago, the infrastructure of the US payment system has remained relatively stagnant. The last few months, however, have seen a significant shift – arguably the most major since the 1970s – with large banks accelerating the adoption of real-time payments (RTP) schemes. Indeed, an... read more