Of Special Interest
- Newslink Global Insurance Trends-The Week
- Keeping up with global market and information technology trends-in context-Hindsight, Insight, and Foresight-25 years of Insurance Newslink-around 50,000 linked articles in the database
- Newslink Global Insurance Trends-a year of continuing change ahead
- "It's All About the Customer" the theme for the latest IBM/Shillito white paper
- Analytics for Insurance-The Real Business of Big Data
- Survey indicates state of ERM development amongst insurers globally
- Newslink Interview: A Catalyst for Change at the CII
- Capgemini World Insurance Report focuses on the customer experience and emerging distribution channels
- Newslink Global Insurance Trends-The Week
- FIS PayNet, a new global real-time payment network
- EIOPA launches technical assessment of Solvency II long-term guarantee package
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- Spanish Bank stress test detail
- EIU/BNY Mellon report highlights global issues for insurers
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- Report looks at two issues facing insurer CEOs globally
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- EIOPA publishes Opinion on Solvency II interim measures
- Newslink Global Insurance Trends-The Week
- The Global Insurance Week
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- Report reviews priorities for US p&c insurers in 2013
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- EIOPA publishes latest financial stability report
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- Swiss Re study reviews global market prospects for 2013
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- EIOPA exploring possibility of interim stage for Solvency II
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- Newslink Global Insurance Trends-The Week
- Newslink Global Insurance Trends-The Week
- Newslink Global Insurance Trends-The Week
- Sukuk to grow 3 fold in 5 years forecast
- Survey indicates insurer progress on Solvency II
- Newslink Global Insurance Trends-The Week
- RBS not selling Citizens
- FSA publishes Journey to the FCA paper
- Newslink Global Insurance Trends-The Week
- Global Federation of Insurance Associations formed
- Newslink Global Insurance Trends-The Week
- Newslink Global Insurance Trends-The Week
- Lloyds & RBS non-core disposal figures
- OFT refers UK motor insurance market for review by Competition Commission
- Newslink Global Insurance Trends-The Week
- India and Pakistan said to licence each others banks
- Solvency II delay now seems inevitable
- Newslink Global Insurance Trends-The Week
- Visa cardholders spend $1.4bn in UK during Olympics
- Prudential survey indicates changing UK customer choice of advice approach
- Newslink Global Insurance Trends-The Week
- UOB end of era as Wee Cho Yaw retires
- Keeping up with regulatory change in UK financial services an increasing overhead
- Newslink Global Insurance Trends-The Week
- Google Wallet MkII works with any card
- Men prefer telematics more than women says survey
- Newslink Global Insurance Trends-The Week
- Twitter stock symbol search
- HSBC - Gulliver's position untenable?
- Newslink Global Insurance Trends-The Week
- Libor, the BBA and Thomson Reuters
- End for Dun & Bradstreet?
- Newslink Global Insurance Trends-The Week
- IAIS releases paper on Reinsurance and Financial Stability
- Newslink Global Insurance Trends
- Upcoming financial regulatory structure in UK gets cool reception
- European banks carrying €1.5tr of non-performing loans
- 4th Annual Insurance AI and Analytics Europe Conference
- ACORD sponsored survey looks at the growing importance of analytics
- Sandy Weill : Bring back Glass Steagall
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Leading insurer ceos give views on market challenges
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- EIOPA publishes final draft guidelines for ORSA
- Newslink Global Insurance Trends
- Bank of China chairman speaks on international expansion
- HSBC and ignored money laundering warnings
- Newslink Global Insurance Trends
- EIOPA publishes final report on Solvency II reporting but....
- Barclays persistent and organised Libor manipulation
- Newslink Global Insurance Trends
- US insurer priorities reviewed in survey
- Newslink Global Insurance Trends
- IAIS releases latest draft for supervision of international insurers
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- IBM, Analytics, social media and financial services
- 51% of insurers changing measurement of capital adequacy under Solvency II says survey
- Chartered Body Alliance formed to enhance and sustain the level of professionalism and trust in the financial services sector
- 80% Of Goldman growth will arise from BRIC nations
- EIOPA says majority of European insurers well capitalised but...
- Newslink Global Insurance Trends
- BlackRock forecasts Greek loan writeoff at €30bn
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- New UK regulator suggests ending 'free' banking
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Europe to lead on telematics says report
- Newslink Global Insurance Trends
- Spanish bank plan
- Newslink Global Insurance Trends
- Significance of the JPM trading losses
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Geneva Association reports on global ageing issues and the role of insurance
- Newslink Global Insurance Trends
- Report highlights action being taken by UK insurers in readiness for Solvency II
- Newslink Global Insurance Trends
- UK personal lines insurers provide poor online user experience says survey
- Newslink Global Insurance Trends
- OCBC ranked strongest bank in world - again
- European insurers must move from risk measurement to real risk management to achieve a return on Solvency II investment says report
- Newslink Global Insurance Trends
- Solvency II survey indicates UK insurers have still much to do-majority say start date will be delayed
- Newslink Global Insurance Trends
- Blankfein PR offensive
- WiproTechnologies-on the global insurance stage
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- JPM prepaid card bank account a trend-setter
- Newslink Global Insurance Trends
- Estimate of additional Spanish bank capital needed
- Newslink Global Insurance Trends
- First US approval for Chinese bank purchase
- Newslink Global Insurance Trends
- Accenture and Duck Creek solutions together add value
- Newslink Global Insurance Trends
- UBS clients use iPad to design trading algorithms
- Newslink Interview: CSC/Xchanging settling down well
- Engagement Banking
- US ExPats giving up nationality to save tax
- Newslink Global Insurance Trends
- PayTag turns any mobile into contactless pay device
- CHARGE Anywhere NFC card acceptance via BlackBerry
- Newslink Global Insurance Trends
- Ringfencing clarification before Santander UK IPO
- Newslink Global Insurance Trends
- SWIFT launches Sanctions Screening
- Study predicts telematics take off in UK
- Newslink Global Insurance Trends
- BoE governor UK speaks of financial stability tools 'experiment'
- Newslink Interview: Guidewire powers ahead across Europe
- SWIFT guide on moving to Sepa
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- QlikTech-placing agile analytics in the hands of the business user
- CII launches Strategic Manifesto 2021 Roadmap with emphasis on building public trust in insurance
- BRIC countries boost bank business lending - G8 lowers it
- The Met Office says Atlantic hurricane fluctuations connected to industrial air pollution
- Newslink Global Insurance Trends
- PayPal phone to card acceptance device converter
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- HSBC retail may operate in 9 Asian countries only
- Telematics statistics indicate further good news
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- IBM / Citigroup deal to use IBM Watson
- Telematics growing in interest in UK amongst consumers says survey
- Newslink Global Insurance Trends
- BTG Pactual listing will be one of largest
- Most of UK life insurers sheltered from eurozone sovereign debt crisis says Fitch
- Newslink Global Insurance Trends
- Global insurer IT spend to increase after decline says report
- Newslink Global Insurance Trends
- No payout on Greek CDS - official - challenge possible
- Newslink Interview-"New" Sequel spreads its wings
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Sarasin sells NZB stake back to NZB
- Geneva Association reviews catastrophic year and looks forward
- Newslink Global Insurance Trends
- Solvency II goes too far says survey
- London Market and other insurance centres worldwide reviewed from an historic, current, and future prospective post-Brexit
- Newslink Global Insurance Trends
- Barclays banking complaints down - PPI UP
- Newslink Global Insurance Trends
- Policy administration modernisation is next priority says survey
- Newslink Interview-Xuber increasingly making its mark
- Insurers falling behind other sectors in customer service says survey
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Global ceo survey indicates key reasons for growth being held back
- Newslink Global Insurance Trends
- Vodafone - Visa announce global mobile wallet
- Newslink Global Insurance Trends
- More on Telefónica and MasterCard LatAm JV
- BBVA-Google first combined forecasts
- Newslink Global InsuranceTrends
- SEPA payments date set as 1st February 2014
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Gibraltar plan to attract more funds
- Newslink Global Insurance Trends
- EIOPA issues 2012 Action Plan for Colleges of Supervisors
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- UK banks could still end up paying some FTT
- Newslink Global Insurance Trends
- EBA says vast majority of bank capital raising plans OK
- Transformation progresses at IBM with the global insurance market as a focus
- Insurers could look towards alternative asset classes because of Solvency II says survey
- Newslink Global Insurance Trends
- European regulator warns politicians on Solvency II potential delay
- Newslink Global Insurance Trends
- UK insurers need to place more emphasis on product features says report
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Difficult decisions ahead for European insurers says Ernst & Young report
- Newslink Global Insurance Trends
- The MGAA-providing timely support for UK underwriting agencies
- " Empowering the Commercial Lines Underwriter"-a new FirstBest/Shillito white paper
- 2012 US Auto Claims Satisfaction study published
- Newslink Global Insurance Trends
- Local support for Thailand Catastrophe Fund plan
- Spanish plan for bank asset write-downs
- Newslink Global Insurance Trends
- Digital cash for the digital wallet
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- SunTrust acquires FirstAgain for loan platform
- Newslink Global Insurance Trends
- S&P maintains stable outlook on reinsurance market
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- FIS announces POS mobile wallet
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Half of Visa Europe transactions on mobile by 2020
- Newslink Global Insurance Trends
- Plan proceeding for 70-75% writedown on Greek debt?
- Newslink Global Insurance Trends
- BBVA and Google try to improve forecasting for clients
- Deloitte publishes 2012 Global Insurance Outlook report
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Geneva Association reviews three key issues for the global insurance industry
- Newslink Global Insurance Trends
- Newslink Global Insurance Trends
- Treasury Committee motor insurance report creates comment
- Newslink Global Insurance Trends
- World Economic Forum Global Risks 2012 report published
- LMG announces major steps forward following the London Matters research
- IBM Joins Bank Information Architecture Network
- Newslink Global Insurance Trends
- No delay on Basel III liquidity - peer review introduced
- Newslink Global Insurance Trends
- Itaú Unibanco Latin America expansion
- Newslink Global Insurance Trends
- Reawakening ATM standard cassette initiative
- EIOPA issues financial stability report
- NewslinkTrends: Weekly Global Insurance Analysis
- Ernst & Young outlines five success strategies for US p&c insurers
- Swiss National Bank president controversy
- Newslink Trends: Weekly Global Insurance Analysis
- IBM 10 year infrastructure deal with La Caixa
- Only 20% of actuaries and insurance finance managers completely confident in data control processes and spreadsheets says research
- NewslinkTrends: Weekly Global Insurance Analysis
- Fitch predicts future trend for US broker market
- Newslink Trends: Weekly Global Insurance Analysis
- Swiss Re reviews emerging markets
- MontePaschi new boss
- Newslink Trends: Weekly Global Insurance Analysis
- Newslink Trends: Weekly Global Insurance Analysis
- Newslink Trends: Weekly Global Insurance Analysis
- Newslink Trends: Weekly Global Insurance Analysis
- Newslink Trends: Weekly Global Insurance Analysis
- eBay acquires German BillSAFE
- NewslinkTrends: Weekly Global Insurance Analysis
- Nigerian mobile money licences
- Own Debt fair value excluded from CT1 capital proposal
- Newslink Trends: Weekly Global Insurance Analysis
- IBM help for Kenyan banking
- Newslink Trends: Weekly Global Insurance Analysis
- Newslink Trends:Weekly Global Insurance Analysis
- London Market Group outlines five key initiatives for 2015
- Newslink Trends: Weekly Global Insurance Analysis
- Monitise and FIS strategic partnership
- Newslink Trends: Weekly Global Insurance Analysis
- PayPal to join discount coupon bandwagon
- Newslink Opinion: Transforming data into intelligence-the insurance industry's challenge
- WestImmo sale collapses - more jobs go at WestLB
- Newslink Trends: Weekly Global Insurance Analysis
- State Street exits UK & German bonds
- Newslink Trends: Weekly Global Insurance Analysis
- Swiss Re sigma study reviews catastrophe costs
- Newslink Trends: Weekly Global Insurance Analysis
- Aon Benfield publishes report on China p&c and reinsurance market
- Newslink Trends: Weekly Global Insurance Analysis
- NewslinkTrends: Weekly Global Insurance Analysis
- US life industry faces challenges says report
- NBNK may bid for Yorkshire & Clydesdale
- Newslink Trends: Global Insurance Analysis
- Swiss Re predicts bluer skies from 2013
- Sharia compliant Buy to Let Purchase Plan
- Newslink Trends: Global Insurance Analysis
- Long term investment move away from Equities
- Newslink Trends: Global Insurance Analysis
- NewslinkTrends: Global Insurance Analysis
- Sabadell buys CAM, losses guaranteed
- Newslink Trends: Global Insurance Analysis
- HSBC major regulatory failure at NHFA
- Newslink Trends: Global Insurance Analysis
- Two major solar power financing deals in the US
- Newslink Trends: Global Insurance Analysis
- NewslinkTrends: Global Insurance Analysis
- LIMRA reviews US consumer life insurance buying trends
- Newslink Trends-Global Insurance Analysis
- A.M.Best stress tests insurers exposure to eurozone debt
- Newslink Trends: Global Insurance Analysis
- 4 bids possible for RBS Aviation
- Newslink Trends: Global Insurance Analysis
- Takefuji restructure plan in doubt
- Raiffeisen told to consider dual-listing
- Newslink Trends: Global Insurance Analysis
- Newslink Trends: Global Insurance Analysis
- Hedge fund chief backs Financial Transaction Tax
- Newslink Trends: Global Insurance Analysis
- PayPal 6 fold increase in mobile payments over Thanksgiving
- Newslink Trends: Global Insurance Analysis
- Women are greater online fraud risk claim
- Newslink Trends: Global Insurance Analysis
- Sovereign bonds revised capital risk charges unlikely to be incorporated in Solvency II in near term says Fitch
- Newslink Trends: Global Insurance Analysis
- Survey indicates major issues for London Market players
- NewslinkTrends:Global Insurance Analysis
- Deutsche Bank Asset Management part sale?
- Newslink Trends: Global Insurance Analysis
- Social media central to SunGards mobile platform
- Newslink Trends: Global Insurance Analysis
- Google Wallet boost from Checkout
- EU fundamental look at bank structure and regulation
- Newslink Trends: Global Insurance Analysis
- Defaqto survey indicates vital role of financial advisers
- London Market under threat says LMG/Boston Consulting global research report
- Global survey reveals insurers could improve services to customers
- Newslink Trends: Weekly Insurance Global Analysis
- S & P highlights regulatory change for UK life insurers presents challenges but there are long term opportunities
- Newslink Trends: Weekly Insurance Global Analysis
- Deutsche Borse / NYSE derivatives proposal
- NewslinkTrends: Weekly Insurance Global Analysis
- Commonwealth Bank major ATM contract
- Newslink Trends: Weekly Insurance Global Analysis
- Buffet sees value in financial services stock prices
- Newslink Trends: Weekly Insurance Global Analysis
- New UBS CEO halves investment banking - sets financial targets
- Newslink Trends: Weekly Insurance Global Analysis
- Visa Digital wallet branded V.Me
- Newslink Trends: Weekly Insurance Global Analysis
- Social Media to inpact insurance market says report
- NewslinkTrends: Weekly Insurance Global Analysis
- Newslink Trends: Weekly Insurance Global Analysis
- NewslinkTrends: Weekly Insurance Global Analysis
- Bank of Ireland cautiously optimistic trading statement
- Newslink Trends: Weekly Insurance Global Analysis
- Barclays insurance deals with Aviva and Legal & General
- Indian bad debts rise by one third in 12 months
- Newslink Trends: Weekly Insurance Global Analysis
- Newslink Trends: Weekly Insurance Global Analysis
- Volcker rule too complicated
- Newslink Trends: Weekly Insurance Global Analysis
- Only 48% of UK and US consumers trust their insurance provider says survey
- Ermotti to be made permanent UBS CEO this week?
- Newslink Trends: Weekly Insurance Global Analysis
- Guy Carpenter reviews Asia Pacific catastrophe scenario
- European insurers analytics survey indicates progress and trends
- Dodd Frank cheat sheet
- Newslink Trends: Weekly Insurance Global Analysis
- simplytap - mobile purchase by entering just 2 codes
- Newslink Trends: Weekly Insurance Global Analysis
- NewslinkTrends: Weekly Global Insurance Analysis
- Credit Agricole and impact of Greece and Italy
- Newslink Trends: Weekly Global Insurance Analysis
- SocGen creating UK online bank using Selftrade
- Newslink Trends: Weekly Global Insurance Analysis
- Total loss customer satisfaction lower says US auto insurance study
- Newslink Trends: Weekly Global Insurance Analysis
- Newslink Trends: Weekly Global Insurance Analysis
- Newslink Trends: Weekly Global Insurance Analysis
- Visa Europe and FIS take stake in Monitise
- Bidding warms up for Sarasin stake
- Newslink Trends: Weekly Global Insurance Analysis
- Newslink Opinion: Weekly Insurance Global Analysis
- Banks and the Euro crisis deal
- Newslink Opinion: Weekly Insurance Global Analysis
- Newslink Opinion: Weekly Insurance Global Analysis
- BNP Paribas profit drop on sovereign debt writeoff
- Newslink Opinion: Weekly Insurance Global Analysis
- Norton Rose reviews financial institutions globally
- Newslink Opinion: Weekly Insurance Global Analysis
- Newslink Opinion: Weekly Insurance Global Analysis
- Newslink Opinion: Weekly Insurance Global Analysis
- Big Data-a challenge but an opportunity to differentiate
- Newslink Interview: Xchanging-providing a global platform adapted for local markets
- CEA opposes US bills relating to taxing of foreign insurers
- Coutts branding
- Newslink Opinion: Weekly Insurance Global Analysis
- RDT spreads its wings
- Newslink Opinion: Weekly Insurance Global Analysis
- Google wallet open for all banks
- MF Global Files for Chapter 11 protection
- Newslink Opinion: Weekly Insurance Global Analysis
- Newslink Interview: Customer experience emphasis at Pegasystems
- Newslink Opinion: Weekly Insurance Global Analysis
- JPMorgan Q3 profit down a little
- Newslink Opinion: Weekly Insurance Global Analysis
- Newslink Opinion: Weekly Insurance Global Analysis
- Fitch reviews UK life sector
- HSBC Trinkaus drops talks for WestLB units
- Newslink Opinion: Weekly Insurance Global Analysis
- Mobile banking software ranked
- Newslink Opinion: Weekly Insurance Global Analysis
- UK websites compared for speed and how it affects purchase
- Newslink Opinion: Weekly Insurance Global Analysis
- More Brits use online banking than use Facebook or Tweet
- Newslink Opinion: Weekly Insurance Global Analysis
- NBNK, Virgin and Flowers bid for Northern Rock
- Newslink Opinion: Weekly Insurance Global Analysis
- Newslink Opinion: Weekly Insurance Global Analysis
- Barclays bid for CAM - looking for other Cajas?
- Weekly Insurance Global Analysis
- The mobile wallet reaches Papua New Guinea
- Weekly Insurance Global Analysis
- NBNK only bidder to meet deadline for Lloyds branches
- Visa Europe mobile wallet coming next year.
- Weekly Insurance Global Analysis
- Weekly Insurance Global Analysis
- Fusion-io speeds up Deutsche credit risk calculation
- Weekly Insurance Global Analysis
- Capital One social gaming spend
- Weekly Insurance Global Analysis
- Rabobank in talks to sell stake in Sarasin
- Weekly Insurance Global Analysis
- Google Wallet live in US
- Weekly Insurance Global Analysis
- Weekly Insurance Global Analysis
- UBS rogue trading - story so far
- Weekly Insurance Global Analysis
- John Mack retires at year end from Morgan Stanley
- Weekly Insurance Global Analysis
- Weekly Insurance Global Analysis
- Future of UK retail banking final report
- Weekly Insurance Global Analysis
- Weekly Insurance Global Analysis
- Egypts first major M&A deal since revolution
- Weekly Insurance Global Analysis
- UBS heads roll - rogue trading warnings ignored
- SAS-a hybrid analytics approach to fighting insurance fraud
- Creating an environment for improving and widening decision making
- NBNK confirms talks - shares suspended
- Weekly Insurance Global Analysis
- Weekly Insurance Global Analysis
- NBNK to buy Lloyds branches, Clydesdale & Yorkshire banks?
- Weekly Insurance Global Analysis
- LSE to buy LCH.Clearnet?
- Spain nationalises three more Cajas
- The Global Insurance Week
- The Global Insurance Week
- Many interested in London Metals Exchange
- The Global Insurance Week
- Visa Europe mobile P2P service
- The Global Insurance Week
- The Global Insurance Week
- The Global Insurance Week
- The Global Insurance Week
- The Global Insurance Week
- The Global Insurance Week
- Monitise granted Nigerian Mobile Payment licence
- The Global Insurance Week
- Sergio Ermotti appointed interim UBS CEO
- The Global Insurance Week
- Banks must work harder to attract 'Facebook Generation'
- Banks borrowed $1.2tr of secret US federal funds
- China Investment Corporation seeks UK bank investment
- The Global Insurance Week
- HSBC T&B bidding for parts of WestLB
- The Global Insurance Week
- The Global Insurance Week
- India Post-bank soon?
- The Global Insurance Week
- RBS bigger loss - underlying progress
- The Global Insurance Week
- Swiss / German withholding tax - template for future?
- US finally pushed towards EMV cards
- The Global Insurance Week
- The Global Insurance Week
- Visa to chip its cards in the US
- The Global Insurance Week
- The Global Insurance Week
- Elavon to accept China Unionpay cards
- UBS rogue trader losses approx $2bn
- The Global Insurance Week
- The Global Insurance Week
- HSBC - expense cuts not straight to the bottom line
- The Global Insurance Week
- Moody's AAA for Footballer Ronaldo as collateral
- The Global Insurance Week
- Hugh Osmond is 3rd bidder for Lloyds branches
- Berchtold & Meister to head Credit Suisse Private Banking
- Xuber keeps in the headlines
- TStone & Flowers joint bid for Woori?
- UK banks retail market share
- New CEOs and Chairman at Deutsche Bank
- HSBC selling non-life insurance businesses
- VITAband wristband - the future of contactless payment?
- UK banks retail ombudsman complaints
- The lesson from the European stress test.
- Friday night is European stress test result night
- Bank governance changes required
- Carney named as new Bank of England governor
- PayPal buys Zong
- Bancassurer Basel III workaround
- Big UK retail bank brands lose market share
- Australian court finds S&P 'not reasonably competent'
- RBS banking customer complaints INCREASE 40%
- Three parties interested in RBS branches
- UK considering 3X greater liquidity levels for banks
- Fed generous to card issuers on Durbin cap
- New shape of HSH Nordbank
- RBS branches and portfolio back on market
- The Liikanen banking reform proposals
- IMF Chief in controversial boost bank capital call
- Spanish NPA close to double figures
- ABN in profit and more expense cuts
- Inaugural Credit Agricole Public Sector covered bond
- UK - decline of the residential mortgage
- Sainsbury joins cash-back credit card battle
- Standard Chartered seeking controlling share of Warka Bank
- Delay for UK bank ring fencing rumoured
- Capital One purchase of HSBC US Card business
- Lloyds sell branches for give-away price
- MySlipcase insurance networking platform launched in London
- StanChart yet again reports record profits
- Mobile commerce grows fast in UK & Germany
- Big Banks need $566bn to meet Basel III
- Estimates of SIFI capital surcharges applied by bank
- Bank of America needs $50bn additional capital
- O2 / Telefónica UK mobile wallet launch
- SWIFT launches financial research institute
- Helaba says has withdrawn from European stress test
- French banks most exposed to Italian sovereign debt
- Another bank onshores call centre
- Report finds women bankers bigger risk takers
- Bank of America sells Balboa Life
- NYSE Euronext shareholders approve Deutsche Borse deal
- Fiserv buys CashEdge
- Fed to review foreign bank capital rules
- Horta-Osorio manifesto for Lloyds Banking
- Mood music for LSE / Nasdaq merger?
- VeriFone unveils suite for MNOs to manage mobile wallet acceptance
- Google to offer real time UK stock prices
- Project Merlin 'success' as UK banks reduce lending to business
- Weglin & Co branded 'fugitive' by US prosecutors
- No challenge by Deutsche and NYSE Euronext to merger block
- Visa prepaid gift cards dispensed via ATM
- LME bidding process underway
- Government the loser when Lloyds accepted Co-op bid?
- UK government confirms retail bank capital ringfencing
- Western Union result
- MasterCard certification for 2 Blackberry NFC phones
- Santander can exceed 9% CT1 ratio without going to market
- M-Pesa now serving 70% of Kenyan adults
- Chi-X Australia to launch October 31st
- PayPal's rapid growth helped by mobile
- Julius Baer / Macquarie strategic alliance
- Mobile Payments for Goods to exceed $170bn by 2015
- Debit card fees may change mpayments and lose banks money
- French banks and commercial wholesale funding
- Pay for Android Apps on your Vodafone Bill
- Worth reading report on mobile payments
- Boku consolidates in French mobile payment
- UK Credit card fraud at 10 year low
- Visa - ditching the card for the phone?
- HSBC profits up on lower tax and lower losses
- UK mobile operators group form another new NFC joint venture
- Capital One wins bidding for ING Direct USA
- US prepaid card usage may approach $500bn this year
27th January 2012
Digital cash for the digital wallet
Interview
Digital wallets / mobile wallets / electronic wallets received extensive coverage during the last year - but not electronic cash. Most electronic wallets under development or already launched use credit card, debit card, or prepaid card accounts, or just directly link to your bank account - they do not use electronic cash, or to give it a more precise definition, ‘ a digital representation of physical cash’. This is defined as an electronic item that can be transferred directly from one person’s wallet to another.
Banking Newslink recently spoke to Dr. Walter Ochynski, President of Treasury Management Services and involved in developing MySmartEMoney, a company planning to enter the electronic money market. The company currently has a proof of concept web site demonstrating how the system can work. Walter argued that a real electronic wallet should use electronic cash and have no type of bank account associated with it or fees for that matter. A much better alternative to these pseudo wallets is electronic cash. The electronic cash transaction does not have to go through networks that incur fees for the payer, payee, or both just like when you use physical cash. It can be used at POS at a retailer, for Person to Person (P2P) payment, via the internet or deposited at a bank. Also, it can be received from another person, from your employer, from your own account by internet, from an ATM, or even from a teller at a bank. All this is accomplished without ever having to create or link a new bank account.
Walter added, “Electronic cash is real. Just like how every dollar bill has a unique serial number so the FED knows it’s not counterfeit, electronic cash works the exact same way. Except now instead of printing the serial number on an expensive piece of paper, it is stored virtually on a server somewhere.”
The idea is not new. Bill Gates tried unsuccessfully to invest in Digicash, a pioneer in this field during the 1990s and planned to add the service to Windows 95. What is different now is that the technology exists to make it all work much better, faster, and more efficiently. Moreover, with the widespread use of mobile devices, the potential market for this service has grown exponentially larger.
Walter explained why banks would wish to become involved with such a service which may at first appear cannibalistic. First, there are the savings from less physical cash handling. ATMs could simply give out the necessary electronic cash instead of physical bills for example. However, the more significant and subtle point he went on to explain was:
“For banks, electronic cash would lead to an increase in profits. When you take cash out of the bank, it stops working for the bank. It generates no further profit. Electronic cash would generate further float until redemption for hard cash is demanded, this could mean that float would last forever or at least a very long time. The money never stops working for the bank as long as it remains electronic cash.”
In Walter’s view, the biggest winner would be the merchant, “If somebody pays with electronic cash there will be no fees like with credit or debit cards. Therefore merchants should promote payment with electronic cash to reduce their dependence on credit or debit card payments. Electronic cash would also make life easier for merchants because no change is required, as is the case when payment with hard cash is processed.”
The customer gains the advantage of a payment system that can be used in a wide range of situations at a fraction of current costs without needing details of the recipient’s bank or even the recipient having a bank account. In this day of ‘big brother’ and concerns over individual freedoms such transactions are private with no message sent via third parties. The very same privacy may at the same time be an issue for governments concerned with criminal and terrorist activity, though it is no greater problem than with regular, paper cash.
Would the central banks be the future issuers of electronic money to the banks who would then distribute the money, just like the current system we have for physical cash? That is certainly one scenario. Another is that banks would use electronic money for payments among themselves creating round-the–clock, real-time settlement in central bank money, which could make current systems obsolete.
Walter summarized the case for electronic money like this:
“To summarize: Banks will back the right electronic solution when it emerges, because it is more beneficial to them than to handle hard cash. Banks will gain float and they do not need armed guards to handle electronic cash. Electronic cash is more of an alternative to hard cash than to credit or debit cards. Cards offer consumers credit, the ability to spend beyond their means, transaction details, etc. Electronic cash will be promoted by merchants, who would save costs involved in handling hard cash and card fees when consumers would use electronic cash instead of cards. Governments and central banks would save a lot of money when consumers use more electronic cash and smart cards by not having to mint physical cash. Central banks would provide liquidity directly to banks instead of hauling and guarding hard cash. Hard cash is very expensive for central banks (printing and distribution costs). They would neither lose nor gain control if consumers would use electronic cash instead of hard cash.”
To experiment for yourself with electronic money you can visit the MySmartEMoney site at
http://www.mysmartemoney.com