Our biggest stories of the week are ...
Now I get faster payments. Reason: I made one and screwed it up.
I'm having a webchat today with First Direct's CEO, Matt
Colebrook, who spoke at the Financial Services Club last Monday (more to
come later). The discussion will look at how banking has changed over the last 21 years, as First Direct launched in 1989. The dialogue is between Matt and good mates Brett King of Bank 2.0 and Christophe Langlois of Visible Banking.
Another great evening at the FSClub last week with the Samee and Dave
show. Samee Zafar and David Birch are both great speakers about payments
and, in particular, mobile banking and payments. Between them,
they gave a picture of a market which is forecast to soon be worth $5
TRILLION in commerce.
I posed this question for the Long Finance meetings we will be holding
as part of SIBOS in Amsterdam in October. It goes with the other big
questions tackled so far:
- SIBOS Q1: "When
will we know there won't be another meltdown?"
- SIBOS Q2: "Who
will be the next global superpower?"
I'll post a couple of unique and exclusive items here in the next few
weeks. As a taster, here's an interview between myself and Paul Say,
Chief Marketing Officer at First Direct, Britain's #1 bank for customer satisfaction and recommendation.
The Payment Card Industry (PCI) Securities Standards Council (SSC) has
developed new versions of the PCI Data Security Standard (PCI DSS) and
Payment Application-Data Security Standard (PA-DSS) for release at the
end of October, which will last for three years in implementation ...
but what is beyond me is why their new standard - PCI 2.0 - ignores the
latest innovations in card security such as E2EE and tokenization.
The major general news stories of the week include ...
Hackers have stolen up to £6 million from online bank accounts in Britain after infecting computers with a virus known as "zeus".
Lloyd Blankfein said 'mismatched regulation' in Europe could force banks to seek more welcoming homes for their international businesses.
Grant Thornton claims financial markets would be thrown into chaos if one of the four biggest firms were to collapse
RIM used its Blackberry DevCon 2010 conference yesterday to announce a number of services for developers, including a new Payment Service that allows developers to initiate payment transactions from within mobile apps. Their message to developers: The Payment Service provides a familiar, fast and secure purchase experience for users. Using
A developer bricks up the front of a Barclays bank in Dorset in protest at the lack of credit available for small firms.
Barclaycard has announced the launch of Barclaycard SmartPay, designed to help European retailers compete with domestic retailers in foreign markets by increasing support for local payment methods. "Developed in partnership with Adyen, it will revolutionize cross-border eCommerce by offering a simpler, seamless payment experience to consumers."
Prediction of a 'super boom' seems like a red flag but is hardly outlandish given the timescale
Giles Dilnot asked people in the City of London for their views about plans to split up some banks in the UK.
Britain's biggest banks, including government-backed Royal Bank of Scotland, are avoiding strict new regulations to prevent future failures by creating a range of products that bend the rules.
HSBC's board will face questions over the near-£36m "golden goodbye" pay package set to be awarded to Michael Geoghegan despite its efforts to prevent the bank's succession debacle spilling into another week.
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Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...