Shaping the future of finance
Having talked about RBS yesterday, I’m just returning to my other theme of the week: rip out and replace. I guess it’s interesting that it is a complex situation as I was sitting yesterday talking about KYC, Know Your Client, once more and argued that for a digital age we need digital identities. This is…
I recently had an epiphany. It was not painful, but it was enlightening. The realisation occurred to me as I looked at this chart from Zopa: It’s an interesting chart, especially the hockey stick rise in funds transferred as the financial crisis hit, and relates to a recent headline in the Financial Times: “P2P group…
I recently had an epiphany. It was not painful, but it was enlightening. The realisation occurred to me as I looked at this chart from Zopa: It’s an interesting chart, especially the hockey stick rise in funds transferred as the financial crisis hit, and relates to a recent headline in the Financial Times: “P2P group…
OK, a last and final post about Swiss bankers and then I’ll shut up. For centuries, Switzerland has been the centre of banking in Europe. As explained, this is due to the Knights Templar and Protestant Reformation at its heart, and is the reason that led to Voltaire (1694-1778) being quoted as saying: “If you…
OK, a last and final post about Swiss bankers and then I’ll shut up. For centuries, Switzerland has been the centre of banking in Europe. As explained, this is due to the Knights Templar and Protestant Reformation at its heart, and is the reason that led to Voltaire (1694-1778) being quoted as saying: “If you…
Further to the previous two entries about Swiss Banking (the settlements of the Knights Templar and the Protestant Reforms), we move into the 16th century with Switzerland proving an attractive ground for migration of the Protestants persecuted overseas. As mentioned, this period created the strong movement towards neutrality from any wars or hostilities overseas –…
Further to the previous two entries about Swiss Banking (the settlements of the Knights Templar and the Protestant Reforms), we move into the 16th century with Switzerland proving an attractive ground for migration of the Protestants persecuted overseas. As mentioned, this period created the strong movement towards neutrality from any wars or hostilities overseas –…
OK, I’m going to cheat now and finish all the KYC chat by reproducing a couple of articles that spring boarded from the event. First, Elliott Holley recorded the BAFT-IFSA session for Banking Technology. Here’s what he wrote: “Unbanked banks” suffer from tougher KYC rules Senior transaction banking executives have called for a political discussion…
OK, I’m going to cheat now and finish all the KYC chat by reproducing a couple of articles that spring boarded from the event. First, Elliott Holley recorded the BAFT-IFSA session for Banking Technology. Here’s what he wrote: “Unbanked banks” suffer from tougher KYC rules Senior transaction banking executives have called for a political discussion…
It struck me as I finished writing yesterday’s blog and went about my duties, that I’d missed one important point in this KYC debate. I’d put it down to the reluctance for banks to outsource such a critical activity. Specifically, banks fearing the risk of non-compliance or compromise being the reason why this had to…
