Retail Banking Systems Insights

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The battle for electronic payments in Kenya

5th September 2018

Company: Compass Plus
According to the World Bank, almost 2.5 billion people in the world have no access to banking infrastructure, with an estimated 1.1 billion people unable to prove their identity – one in every seven individuals. These issues resonate in sub-Saharan Africa, where just four years ago, 66% of the population didn’t have a bank account. ... read more
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TSB CEO quits following second IT crisis

4th September 2018

Company: bobsguide
TSB Bank has announced that CEO Paul Pester is stepping down from his position after seven years. Richard Meddings, current non-executive chairman, takes on the role of executive chairman with immediate effect. "Although there is more to do to achieve full stability for customers, the bank’s IT systems and services are much improved... read more
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Thinking differently about data: the new opportunity for banks

3rd September 2018

Company: Finastra
Often described as the ‘new oil’ or even the currency of the digital economy, data is key to the business strategy of every organization. For banks, building an understanding of how to harness the variety, velocity and volumes of data available to them will dictate the difference between success and failure in the very near future. ... read more
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Leveraging graph analytics to combat money laundering

31st August 2018

For banks and financial institutions across the world, cracking down on money laundering has never been more critical. Today global money laundering transactions comprise an estimated two to five percent of the global GDP - roughly $1 - 2 trn annually, according to PwC. The costs of non-compliance are high. US Bancorp was fined $613m in February... read more
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Chief scientist applies forensic skills to TSB meltdown

30th August 2018

Company: bobsguide
In April 2018, the UK's TSB bank left up to 1.9m customers unable to access accounts, due to a botched system migration that was rushed, inadequately tested with poor internal communication. TSB, previously part of the Lloyds Banking Group was bought in 2015 by Sabadell Bank and was due to migrate to Sabadell's in-house system, Proteo,... read more
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Banks to address mobile connectivity issues

23rd August 2018

Company: CommScope
Recent data from the Office of National Statistics (ONS) revealed that the UK is currently in the midst of a productivity crisis, with the country’s output per worker 16.6 percent below the average for the rest of the G7 nations in 2016. While the financial services sector was one of only a few to show any productivity growth, this was still... read more
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South African tax authorities target crypto traders

22nd August 2018

Company: bobsguide
South Africa’s economy has been in trouble for a while now. The GDP of Africa’s most industrialised nation started off 2018 by contracting at its sharpest rate in nine years, and there’s little reason to believe things are going to improve much in the near future. That’s why consumer demand for a decentralised and stable... read more
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Banking on tech alone not enough for digital challengers

22nd August 2018

Major banks have long held all the cards, operating in closed environments and keeping their customer data under lock and key – but no more. In the new opening banking landscape, banks must establish open application programming interfaces (APIs) to enable third parties to access customer account information for gathering data or the... read more
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Open Banking driven forward by data-sharing millennials

21st August 2018

Company: bobsguide
“Fintech companies are on a mission to make financial services and products accessible to everybody,” according to Michelle Pearce, CIO and co-founder of Wealthify, the online investment service. Firms such as Wealthify can embrace Open Banking, and give everyone “the chance to have an investment portfolio built and managed by... read more
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Banks need to act quickly to implement cryptocurrencies

21st August 2018

Company: Crealogix
For many years, bitcoin and other cryptocurrencies remained a fringe movement, generally unknown to those outside the immediate community. In 2010, a year after its invention, one bitcoin was never worth more than $0.50, but the unprecedented attention that cryptocurrencies and blockchain have received in the last two years has led to sharp price... read more