All articles by Verdict Staff
Verdict Staff
News Digest
Complying with anti-money laundering (AML) regulation is placing an increasing burden on banks This has prompted US financial services technology vendor SunGard to make additions to its Ambit core-banking solution automated AML functionality, as an installed application or in a hosted environment on SunGards hosted delivery platform, Infinity.
The impact of fraud on card customers
Recent headline-grabbing incidents show how the bond between bank and customer can be irreparably damaged when fraud occurs. A new study from Deloitte reveals just how much damage can be done when a customer is the victim of fraud, and what banks can do to minimise the risk.
Barclaycard shines despite overall slump
With the sombre mood music of a 33 percent drop in profits that the banks chief executive John Varley described as acutely disappointing, the credit card arm of Barclays has recorded 30 percent growth for the year so far, making Barclaycard the fastest growing business line within the banks operations.
Prepaid: hope from other sectors?
Prepaid cards have been touted as the next big thing in payments However, many would argue that growth projections are yet to be realised. So is there hope from outside financial services?
Bill Express brings down Bopo prepaid
The collapse of e-bill player Bill Express, and with it the Bopo prepaid card, has dealt a blow to the fledgling Australian prepaid industry and incurred the wrath of merchants across the country, as Victoria Conroy reports. But the demise of Bill Express could provide opportunities for other prepaid players.
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Region round-up
The number of individual bank accounts in China rose 9.6 percent… Malaysian retailer Giant and Citibank have joined forces… Qatar-based Ahlibank has partnered up with Centrepoint… BBVA Colombia plans to invest $141 million this year.
MasterCard insists interchange suspension only temporary
MasterCard Europe has announced the temporary suspension of its European cross-border interchange fees to meet a European Commission (EC) deadline. In December 2007, the EC ruled that the interchange fee, which typically makes up around 1 percent of a credit card transaction, was illegal, and told MasterCard to stop levying the charge.
Six steps to reduce spending
A corporate spending study recently released by American Express alongside payment consultancy AT Kearney highlights several methods to drive efficiency and bring down the cost of administration and management.
The shift from paper to plastic
At its recent Charting Your Course for Success event in the US, payment research and strategy firm TowerGroup outlined how the current credit crunch is playing a key role in driving card issuers to migrate more payment volumes away from cheques and onto plastic Despite the troubles caused in the financial industry by the ongoing credit crunch, there are some opportunities that card issuers can capitalise on, according to US payment research and strategy consultancy TowerGroup, which recently held its Financial Services Business & Technology conference and exhibition in Boston, US One of the key sessions of the conference, Wholesale and Consumer Payments Convergence, was presented by Theodore Iacobuzio, managing director and practice leader of the firms payments division, in which he outlined how the credit crunch is indirectly helping to accelerate a notable payments industry trend the decline of paper cheques.
Learning from the past
Charles Davis reports on how US payment research consultancy TowerGroup is urging issuers to learn lessons from history in order to ride out the impact of the deteriorating US credit market and higher delinquency rates.