Wholesale / Commercial Banking Systems Insights

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Why you need to prioritise KYC remediation in 2021

30th September 2020

Company: NorthRow
This year has been a year of change, with continued volatility and far reaching consequences for the way we do business. Customers are now transacting differently, meaning that the organisations that serve them need to be quick to adapt to market drivers and demands. A sign of the current challenges is an increase in the number of businesses... read more
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ECB wants crypto alternative

30th September 2020

Company: bobsguide
Last week European Central Bank (ECB) president Christine Lagarde announced the central bank’s ambition to implement a digital euro. Lagarde’s statement shows the ECB is yet planning on staying ahead of big tech firms in the race for digital currencies, according to Paolo Ardoino, CTO at Bitfinex. “Tech giants are... read more
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Payments errors hitting firms’ bottom lines

25th September 2020

Organisations in every sector are under pressure to do more with less in today’s current landscape. The uncertainty around the pandemic has meant businesses cannot afford to miss opportunities to free up their capital. This means it’s become imperative companies to find growth, streamline processes, save money, enhance service levels... read more
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Older generations overlooked in banks’ digitisation efforts

7th September 2020

Company: Entersekt
Until recently, there was reluctance amongst some to embrace digital banking. And then the coronavirus spread. The pandemic has made many more people move to digital channels out of necessity. In their push to stay relevant, most banks have concentrated their digitisation efforts on the requirements of Gen Z and Gen Y, a growing potential... read more
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US fintechs could look “seriously” at banking charters amidst OCC uncertainty

21st August 2020

Company: bobsguide
US fintechs may seek out full purpose banking licenses as litigation continues to cloud the Office of the Comptroller of the Currency’s (OCC’s) fintech charter. The issuance of a banking charter to digital bank Varo this month could inspire US fintechs to reconsider their strategies, according to Michael Breslin, partner and Fintech... read more
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SCA experimentation grows ahead of deadline

11th August 2020

Company: bobsguide
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
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UK’s new settlement system to support DLT

3rd August 2020

Company: bobsguide
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
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Optimising the path to digital payments in the US

29th July 2020

Company: BNY Mellon
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
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Banking in the new normal

17th July 2020

Company: Profile Software
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