Mobile banking for the unbanked

When it comes to assessing the power of mobile technology to bring financial inclusion to the unbanked populations in the developing world, the numbers speak for themselves. Of the 6.9 billion people on our planet, just 30% (2.1 billion) have bank accounts. But 75% – 5.2 billion people – have mobile phones. In Africa, bank penetration […]

Reinventing the Case for Corporate Actions

Every year starts with the optimistic notion that this will be the year that the industry makes firm commitments to automate the communication of corporate actions between custodians and shareholders. Despite good intentions and a clear acknowledgement of the risk involved, actual investment and progress in reducing the overall costs of processing corporate actions seems […]

Comment: Angela Knight on the cost of regulatory change

The industry is facing regulatory upheaval – again. Since my last column, the Treasury issued its proposals for the new regulatory landscape post-crash, which effectively means replacing the FSA with new institutions operating under the Bank of England. The Financial Policy Committee, like the Monetary Policy Committee, will take a long term look at the […]

Comment: ICMA on MiFID Review

In response to the MiFID Review proposals I’d like to invite you to follow me on a little analogy … Imagine a reform of the fruit market that looked at the orange trade, ensuring that oranges could be freely traded by a wide range of supermarkets (exchanges), online (MTFs) and over the counter. Wholesale and […]

Comment: Is Finance IT prepared?

Regulation is becoming a key business driver in 2011, but our recent research suggests that Finance IT sections of investment banks are not matching levels of ambition to funding and staffing requirements. Having spoken to some investment banks in New York and London, it seems that banks are at risk of underfunding the implementation of […]

SEPA end dates: as clear as mud

Journalists are all too familiar with deadlines – they rule our professional lives. In order for this esteemed organ to reach its readers’ desks in a timely fashion (so the information is relevant and reflects the issues of the day), everyone involved in its production works to a set deadline (more or less). So in […]

Comment: The FSCS Single Customer View Requirement

The Financial Services Compensation Scheme (FSCS) provides a safety net for consumers in the event of the failure of their financial services provider. Deposit protection is a key component of the FSCS and the Single Customer View (SCV) is an essential requirement of it. The run on Northern Rock bank in 2007 provided a stark […]

Comment: Basel III – what it means for the industry

They call it Basel III but perhaps a more appropriate term would be Basel 1½. The new rules from the Basel Committee on Banking Supervision aim to set minimum capital and liquidity standards for the world’s banks. This is the third such set of standards the committee has created – hence Basel III – but […]

Comment: Recovery in the European repo market – use of CCPs rises

The ICMA European Repo Council, which represents the repo dealing community in Europe, carries out a survey twice a year that fixes the size of the European market, based on the amount of business outstanding on a single day. The latest survey shows the amount of repo business in Europe has recovered to €6,979 billion […]

Comment: SEPA – build it and they will come, perhaps

The transformation of the European payments landscape is now firmly into the next phase with the launch of the Single Euro Payments Area) Direct Debit programme on November 2nd 2009. How are banks and treasurers to take advantage of the new products? Much of the SEPA focus to date has been on bank compliance and […]