Payments

Having attended Sibos since way back when, I was sad to miss it this year.  I got double-booked to be in Vegas at the Venetian to keynote with BAI RD2015.  Surprisingly, I’ve been back in Vegas (why is it always Vegas, and not Las Vegas?) to speak at Money2020 just 10 days later.  Money2020 is…

Being #SIBOS week, there’s a rush of new reports to push out.  McKinsey’s Global Payments Report and Cap Gemini’s World Payments Report being the two big one I noticed this week. A quick review of each. McKinsey’s report summary opens with the following: Global payments revenues have been growing at rates in excess of expectations….

We had an interesting dinner this week talking about customer onboarding.  The focus was on counterparty banks and corporate account opening processes, and the ongoing challenges therein.  In a nutshell, due to the documentary and regulatory requirements for proof of identity and trust, the account opening process is the worst part of banking and can…

I was sitting the other day thinking about the good old days. In the good old days, if something was big and challenging, banks would get together and create a co-operative to solve the problem. SWIFT, Visa and MasterCard were all bank created co-operatives.  Admittedly, times have changed and now Visa and MasterCard are private…

Following our regular weekly interview, the Finanser talks this week with one of Europe’s fastest growing unicorns, Klarna, in conversation with co-founder and Deputy CEO Niklas Adalberth, To begin with, perhaps you can tell me how you and your colleagues came up with the idea of Klarna. Sure.  When we started this company, the entire…

What happens when the cost of payments reaches zero, the speed of payments is instant, and everyone globally can make and take a payment, what happens then? I just had an interesting chat with someone and realised two things: one is that we’re talking about moving away from batch to real-time, and that’s where the…