Enabling successful change: the role of the CIO

Fujitsu recently carried out its Fit to Change study across the financial sector to see how flexible financial services businesses are

The financial services environment has changed significantly in the past five years and not necessarily for the better. Growth rates have declined, balance sheets have shrunk and lending stalled, and the public has lost faith in banks and bankers.

Reaping rewards with reconciliation

Richard Chapman is director of product management at SunGard Ambit Corporate Banking

The operational maturity of a financial institution determines its ability to effectively process the accounting, cash flows, trading and transactional activity that supports its core business with the least associated cost and minimum risk. Today, reconciliation and system validation play a key role in a financial institution’s journey to operational maturity and constitute a significant part of core middle- and back-office processes. Effectively and efficiently managing these processes has never been more critical.

Picking up the pace in the mobile race

James Richards

The launch of O2’s mobile wallet recently signified yet another non-banking player making its foray into the world of financial services. But do mobile network operators have the potential to truly threaten financial institutions’ monopoly of the payments market and how will banks embrace mobile technology to defend their terrain?

Taking the pain out of payments

Over the past few years organisations have transformed back-office procedures, embracing straight through processing to reduce administrative costs, improve productivity and transform customer service. Yet one aspect – the payments aspect – of this process remains complex, time consuming and high risk. Today, too many organisations are using outdated payment processes that take too long, […]

BIAN: Why standards bodies need to stick together

Prior to 2009, there was seemingly little need for standards within financial services. Continued high turnovers ensured there was little, or no, talk of efficiency, transparency or passing savings on to customers, and reducing the vast investment on IT integration was a non-issue. This was the case until the banking crisis, which resulted in $1.5 […]

PINning the future on biometrics

There is no doubt that this is a challenging time for retail banks. Adding to the stress of economic uncertainty is the fact that financial organisations also face the threat of cybercrime. However, fraud losses of £169.8 million between January and June 2011 tell us crime is still a problem. Relying on PIN technology to […]

How to optimise the banking customer’s journey

In an increasingly complex and competitive environment, companies – and financial services firms especially – are struggling to find practical ways to attract, service and retain valuable customers at a cost that is right. Financial services organisations are determined to respond to this challenge. But their investment in systems to improve interaction channels often seems […]

Taking back control of payments

The payments industry is experiencing significant change. This is driven by innovation across industries such as retail, telecoms, and banking and finance, combined with changes in the way in which consumers communicate with each other and make purchases. Banks are under pressure from regulation, alternative payment processors and a growing variety of payment channels.  Today, […]

How technology is shaping the way we pay

Innovation in banking technology is, ultimately, driven by practicality; one area that this applies to more than most is payments. Here is where we are seeing arguably some of the greatest levels of innovation, development and implementation of new technology. Increasingly we are seeing banks push products in this area, as they roll out new […]

Preparing for MiFID II

Since the Markets in Financial Instruments Directive was enforced back in November 2007, the economic landscape has changed dramatically. Competition between trading venues has increased while investor choice has improved, due to enhanced availability of financial instruments, reduced transaction costs and increased integration. As a result of the 2007/2008 financial crisis, both regulators and the […]