The Top Payments News Stories in March 2018

Lot’s of payments news stories flying about this month. Unsurprisingly Open Banking is hitting the headlines, a focus on fintech in the UK, innovation and talk of the Kodak moment in financial services. Check out the following top payments news stories for March 2018: 1. Payments News – Cyber Security Equifax to notify another 2.4 million ...

7 Things Corporates Need To Know About PSD2 and Open Banking 3

7 Things Corporates Need To Know About PSD2 and Open Banking
PSD2 is a HOT topic at the moment, and will continue to dominate discussions for the foreseeable future. The revised European Payment Services Directive (PSD2) is multifaceted regulation with implications for banks, technology companies, financial institutions, regulators and most important of all, You and I – the end customers. At first glance, the PSD2 focus seems ...

Payment Fees – The Difference Between BEN, OUR and SHA

I have received a couple of recurring questions about payment fees, specifically the difference between BEN, OUR and SHA. So, lets get straight to it… Payment Fees / Transaction Charges The sending bank and receiving bank in a payment transaction may charge a fee for processing the payment. Within each payment specific codes are used by ...

5 Ripple Tweets That Absolutely Dominated Money20/20 Asia

I was curious to see what happened at Money 20/20 Asia, which took place in Singapore this last week, 13-15th March. So, took to Twitter to get the low down. There was some pretty interesting stuff, covering all of the hot topics: cybersecurity, financial inclusion, a keynote by Piyush Gupta, the fintech unbundling of banks, ...

Is Amazon About to Disrupt Banking? [Infographic] 2

Is Amazon About to Disrupt Banking? [Infographic]
Last week Bain and Company released a published an article titled Banking’s Amazon Moment. I think its fair to say that it has caused a storm, Amazon are disrupting virtually every industry they get into. Couple that with the Fintech threat (or is it?) and it accelerates-heightens previous concerns about technology companies and you have ...

A Practical Guide to the Bank Statement CAMT.053 Format

Following on from the posts about the BAI2 and MT940 bank statement formats, I have had a few requests to provide an overview of the camt.053 format. I will not go into the details of each tag within the CAMT.053 format – for that you should ask your bank(s) to provide you with a detailed CAMT.053 ...

23 Step ‘Fintech Action Plan’ by the European Commission 2

23 Step 'Fintech Action Plan' by the European Commission
Today the European Commission published a 23 Step ‘Fintech Action Plan’ to help promote more competitive and innovative financial services across the European Union. The Fintech Action Plan press release gives you a quick flavour of the high level plan with the usual focus on blockchain, distributed ledger technologies, digitisation, cybersecurity and crowdfunding with a view ...

What the Bank of England Really Thinks About Cryptocurrencies 1

What the Bank of England Really Thinks About Cryptocurrencies
Last week the Bank of England Governor. Mark Carney, talked to some students at Edinburgh University about the Future of Money. The speech hit the headlines last week because Mark describing cryptocurrencies as a failure, that needed to be regulated. Its investors were described as fools, while at the same time Mark Carney recognised the ...

10 Freakin Crazy Tweets from the Mobile World Congress 2018 1

The Mobile World Congress (MWC 2018) in Barcelona last week is an annual conference where the top mobile ideas, innovations and participants gather. I find it fascinating since everything around us is mobile, and as a result what this industry is talking about will be a big part of our daily lives. I must admit ...

The Top Payments News Stories in February 2018

This month the payments news stories seem to be dominated by PSD2, Open Banking and all things blockchain. In particular stories of multiple Ripple initiatives here, there and everywhere! Plenty of interesting reading, with some noteworthy reports too. Check out the following top payments news stories for February 2018: 1. Payments News – Cyber Security ...