Wholesale / Commercial Banking Systems Insights
11th August 2020
Market participants are still struggling with aspects of strong customer authentication (SCA) ahead of the December 31 deadline, according to payment service providers (PSPs).
“At the beginning it was very misunderstood from the perspective that it [was thought to be] the same as two-factor authentication, or something just about securing... read more
3rd August 2020
The Bank of England’s (BoE’s) new Real Time Gross Settlement (RTGS) system will be compatible with distributed ledger technologies (DLT), says BoE’s executive director for banking, payments and innovation Victoria Cleland.
“It was decided a while ago in the program that we didn’t want to use DLT to build the new... read more
29th July 2020
The US payments landscape is in the midst of significant change. A spark of new capabilities – comprising existing payment rails introducing new developments, the dawn of real-time payments and the emergence of innovative overlay services – is transforming the entire payments ecosystem. What’s more, with the current challenging... read more
17th July 2020
The global economy has greatly reshaped since last March, urging both consumers and businesses to adjust their behaviour, processes and operations to a new reality. McKinsey & Company sets a five-stage call-to-action applicable across industries emerging from the coronavirus battle: Resolve, Resilience, Return, Reimagine, and Reform.... read more
14th July 2020
When auditors KPMG discovered a €1.9bn black hole in the accounts of German payments giant Wirecard last month, shockwaves were sent across the financial world. The ongoing scandal has raised questions for many, not least accounting firm Ernst & Young, whose previous audit had failed to uncover the anomaly, and former Wirecard CEO Markus... read more
3rd July 2020
The spread of the coronavirus and governments’ subsequent reaction has led to a surge in the adoption in contactless payment methods such as card and mobile payments.
A report released by global data and insights firm Dynata, surveyed over 11,000 consumers in 11 countries found a universal uptick in the adoption of contactless payments.
... read more
18th June 2020
In the digital age, banks are looking for ways to remain relevant and distinctive. Experts believe that banks who maintain high levels of customer satisfaction will eventually conquer market share. This means that it is crucial for financial institutions to deeply understand and fully fulfil the needs of increasingly digital customers, at every... read more
11th June 2020
Insurers face new threats as impact of coronavirus challenges tech stacks and complicates customer contracts.
While the shock of the pandemic is being felt across all industries, insurers are grappling not only with the need to revamp legacy technology, but the potential loss of trust from customers who rely on them for support as the lockdown... read more
22nd May 2020
Relationships between cryptocurrency institutions and traditional banks will bolster crypto’s legitimacy, market participants predict.
“It appears the reputable, blue chip coins finally have a hard-won place in the mainstream. Institutional grade exchanges finally being accepted into the old boys’ club will do wonders for... read more
21st May 2020
Fintech firms expect it will take over a year for their sectors to bounce back from the impacts of the coronavirus, according to a bobsguide survey conducted in April and early May.
But while most respondents reported a negative impact from the pandemic – with a sudden drop in sales and quick re-structuring of their business models –... read more