Retail Banking Systems Insights

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Mastercard’s Wadsworth: Who will end up holding the Open Banking baby?

26th November 2018

Company: bobsguide
Questions around accountability should problem occurs around Open Banking relationships were raised by Jim Wadsworth, UK product director at Mastercard, at a retail banking conference in London this week. “This is different to the Facebook or Twitter world. If Twitter goes down for half an hour nobody really cares, but if someone has... read more
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EU and US banks facing escalated risks

23rd November 2018

Company: bobsguide
There has been a significant increase in credit risk in the EU this year, while US banks face increased regulatory risk in the months ahead. That’s according to research and credit specialists at S&P Global Market Intelligence, speaking at an event this week in London. “Across Europe, at the beginning of the year, on a... read more
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Interview: Barclaycard CIO on Open Banking APIs and blockchain non-adoption

23rd November 2018

Company: bobsguide
A new Barclaycard survey of 100 UK chief information officers (CIOs) goes some way to clarifying how the role is changing in the face of fast technological progress. Among the findings, 42% of companies are scaling up their R&D spending to leverage emerging technologies, and 77% are executing new approaches to implementing technologies. ... read more
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Open Banking: infrastructure firms “invisible” as incumbents’ appetite varies

20th November 2018

Company: bobsguide
"Critical" work conducted by infrastructure organisations – which provide aggregating services for Open Banking protocols – is being overlooked, says Iain McDougall, Stripe’s UK & Ireland country manager. It comes at a time when parts of the banking community have reacted differently to Europe’s Payments... read more
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Tandem's Ford: Open Banking isn't just about aggregation

15th November 2018

Company: bobsguide
“There is a bit of feeling, if you read a lot of column inches at the moment, that Open Banking has been a damp squib. I think what you’ve seen with Open Banking is generation one of it, which is a lot of fintech or banks looking at the idea of Open Banking meaning bank aggregation. What I mean by that is the ability to see all your... read more
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Firms utilising risk-based approach to deal with Mifid compliance

15th November 2018

Company: bobsguide
Many firms have turned to a risk-based approach in assessing compliance capabilities to fall in line with the Markets in Financial Instruments Directive (Mifid), and its successor, Mifid II. That’s according to John Byrne, CEO of Corlytics who was speaking this week as part of a webinar on regulatory compliance. Mifid’s first... read more
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Canada’s Tangerine utilises customer data to disrupt status quo

8th November 2018

Company: bobsguide
As the impact of GDPR continues to ruffle feathers with the European data protection supervisor, Giovanni Buttarelli, told Reuters to expect fines “by the end of the year.” While GDPR has profound consequences in Europe, its tremors are also provoking debate across the Atlantic. Justin Trudeau and StatCan were thrust into the data... read more
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Monzo API engineer backs Open Banking strategy

8th November 2018

Company: bobsguide
“People are going full Monzo,” said the bank’s founding API engineer, Simon Vans-Colina on the sidelines of Fin42, reacting to the statement that Monzo lacked the edge to become a primary account. “There’s a handy button in the Monzo app that lets you close your old account and bring everything over.” But... read more
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Bloomberg’s Tonin outlines blockchain’s three critical applications

8th November 2018

Company: bobsguide
There is a small handful of primary use cases for blockchain technology, according to Francesco Tonin, FX market specialist, Bloomberg speaking at an industry event in Chicago. “International payments work,” he said, “but it takes a long time, you might need to use a correspondent bank, you might not know where any given... read more
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HSBC moves to clean up data breach

6th November 2018

Company: bobsguide
Today HSBC customers in the US were notified of a breach of data that occurred last month. The cyber attack is supposed to have affected less than 1% of their US accounts, with evidence of an unauthorised log-on leaving some personal information accessible. According to an Accenture report published in 2016, 59% of banks admit it takes... read more