Podcasts about vocalink

Acquired by Mastercard in 2017, the UK's Vocalink manages the UK's Bacs payment system, ATM LINK switching platform, and the Faster Payments System, FPS. To make this more tangible, consider these statistics: Vocalink processes over 90% of UK salaries, more than 70% of household bills, 98% of state benefits, and powers 60,000 ATMs.  Vocalink's influence goes beyond the UK, with technology that powers fast payments infrastructure in countries such as the US, Thailand, Sweden, the Philippines, Peru, and Saudi Arabia - just to name a few. Vocalink's origin story, which began in 1998, spurred payments modernization efforts worldwide. For this episode, we sat down with Gregor Dobbie, former CEO of Vocalink, to discuss what we can learn from Vocalink's journey and what the future holds for core payment systems.

With a rich background in cyber security, todays guest Andrew Rose has transformed security management for major organizations like Vocalink, NATS, Clifford Chance LLP, and Allen & Overy LLP. Recognized for his contributions, Andrew was awarded 'European CISO of the Year 2018' among others and joined SoSafe in February as Chief Security Officer, reinforcing their mission to strengthen digital self-defense worldwide. In this podcast episode, Andrew shares insights into the evolving role of a Chief information Security Officer, into building and transforming security cultures and into expanding security awareness into the concept of human risk management. He discusses the escalating cyber threat landscape, the pressing issues of staff shortage, burnout in security teams, and the challenges CISOs face in making security a top management priority.

Following a glittering corporate banking career that included client coverage and product specific roles at Fortis, HSBC, BNP Paribas and ultimately as Managing Director of Transactional Banking at Santander in the UK, oh and a non-executive directorship with Vocalink prior to their sale to MasterCard, Sarah became an independent consultant in 2016. Hear on this episode how diligence and determination enabled Sarah to discover new levels of freedom and fulfillment.

Our expert hosts, Benjamin Ensor and Kate Moody, are joined by some great guests to talk about the most notable fintech, financial services and banking news from the past week. This week's guests include: Nilixa Devlukia, Founder, Payments Solved Karen Kerrigan, COO, Moneybox With soundclips from: Gwera Kiwana, Product Manager, 11:FS Paul Stoddart, President, GoCardless We cover the following stories from the fintech and financial services space: Stripe launches open banking product sparking Twitter taunt from Plaid CEO - 3:35 Moneybox announces crowdfunding campaign - 14:35 EU claims Apple breaking competition law over contactless payments - 30:00 Banking giant Truist acquires fintech startup Long Game in effort to reach younger demographic - 38:40 Buy Now Pay Later will soon affect your credit score in the UK - 48:15 GoCardless appoints Mastercard and Vocalink exec as president - 51:10 Citigroup trader triggers European flash crash - 54:00 Swiss banker put strip club visits on expenses - 55:22 This episode is sponsored by Alto IRA Did you know the majority of people are investing in cryptocurrency through a taxable account, when they could be using an IRA and avoiding or deferring the taxes? With an Alto CryptoIRA, you can invest in crypto without tax headaches. Create a free account in minutes. Choose from over 150 coins, and invest with as little as $10. No setup charges and no account fees. To open an Alto CryptoIRA with as little as $10, just go to www.altoira.com/insider This episode is sponsored by TrueLayer Let's face it, cards were not designed for online. Payments can take days to settle, hurting customer loyalty. While high fraud, clunky checkouts and expensive fees mean millions in missed revenue. At TrueLayer, we've made instant payments available for businesses across Europe and the UK. So you can cut costs, fight fraud and get money moving fast. To learn more visit: www.TrueLayer.com/payments Fintech Insider by 11:FS is a podcast dedicated to all things fintech, banking, technology and financial services. It's hosted by a rotation of 11:FS experts including David M. Brear, Simon Taylor, Jason Bates and Gwera Kiwana, as well as a range of brilliant guests. We cover the latest global news, bring you interviews from industry experts or take a deep dive into subject matters such as APIs, AI or digital banking. If you enjoyed this episode, don't forget to subscribe and please leave a review Follow us on Twitter: @fintechinsiders where you can ask the hosts questions, or email podcasts@11fs.com! Special Guests: Gwera Kiwana, Karen Kerrigan, Nilixa Devlukia, and Paul Stoddart.

Martin Wilson is CEO of Digital Identity Net, a growing Fintech business regulated by the FCA and founded with a social purpose to deliver the first privately funded public service. It aims to make the internet a safer place by enabling people to verify who they are by calling on their bank to vouch for them. DIN's OneID platform is secure and simple and shares only the information required to enable a safe interaction online with the consumer always in control of their personal data.Martin is passionate about the topic of Digital Identity which led him to first invest and then go on to lead the business, with a desire to create a better way for people to operate online. He is an experienced CEO, NED and board level director specialising in business transformation with a proven ability to develop business vision and strategy. He has a demonstrable track record of delivering large scale, mission critical programmes and culture change within highly regulated environments. Martin has held many Executive and Non-Executive Director roles over the last 15 years, including a NED on the Faster Payments Board (FPSL) and special Advisor and NED to E-Serve (the Scheme delivery arm of OfGem). He has also run his own consultancy service since March 2010. He is a natural leader with strong management skills, leading companies to deliver to challenging targets. His interpersonal skills enable him to influence key decision makers at the most senior levels and his market experience spans public sector, Financial Services, M - and E-commerce and IT in UK, Europe, Middle East, Australia, and East Africa. Martin's last role was as Head of Change for Payments at RBS/ Nat West, leading a £200M change portfolio. He has been a VP at HP, running a €300m global programme for a leading investment bank and as CEO of a mobile international money transfer start-up he launched a £multi-million platform servicing money flows from the Middle East to the Indian sub-continent and the far east. As Chief Commercial Officer for BACS, Voca and VocaLink, Martin led the company from a domestic not-for-profit, mutual organisation (BACS) to a successful international commercial and profitable enterprise. He successfully re-developed the UK payments IT infrastructure and delivered an ambitious strategy for growth, including the successful launch of the UK Faster Payments Service. Martin led Strategy and Innovation within the Business Development function, driving a product and marketing strategy across three global regions and sat on several JV Boards during this time. Prior to that Martin was a senior civil servant responsible for the development and maintenance of all IT systems in the UK Department of Social Security. Martin lives in the Lake District with his partner Barbara and 4 trail hounds. He has 3 grown up sons. When he wants to be active, he is a keen mountain walker and when he wants to relax, he is a keen follower of all forms of cricket (although that's not always a relaxing past time!).Top tip: “If you can keep your head when all around are losing theirs and blaming it on you”. A leader must always strive to find ways over, through or around problems and issues and guide their teams past them, keeping a calm head when all around may be doubtful. See acast.com/privacy for privacy and opt-out information.

                                  This week Duff speaks with Eddie Grobler. Eddie shares how "the answer is in your hands", why you shouldn't "Jerk the knee or shoot the mouth" and why "Your mindset matters...a lot" along with seven other great lessons. About Eddie Grobler In July 2019, Eddie established Commerce 2040. The main objective is to use Commerce 2040 as a “platform” for engagement with different stakeholders in the payments value chain with the key focus on payment flows in a dynamic and changing environment. He is currently involved is a number of explorative engagements with stakeholders – mainly start-up organisations and entities who are interested in entering the Australasian market. Eddie Grobler was the Executive Vice President: Australasia Division from 2008 and in August 2016, he was appointed as Executive Vice President: Realtime Payments. Based in London, he was responsible for the development and execution of Mastercard's real time payments strategy. Part of this strategy was to acquire a UK real time payments company. Eddie was part of the due diligence team. After the successful acquisition of Vocalink he took responsibility for the integration of the company into Mastercard. This project was successfully completed in November 2018 after which he returned back to Australia. Eddie retired, after 20 years, from Mastercard on 31 December 2018. Prior to 2008 Eddie was Based in Johannesburg, as the Senior Vice President: Sub-Sahara Division Eddie was responsible for all the Mastercard Africa business operations, in particular, the development of the Mastercard franchise in Africa, sub-Sahara. He was instrumental in the opening of the Mastercard offices in Nigeria, Kenya and Morocco. Eddie holds two Master's Degrees: one in Business Leadership the other in Psychology. Episode notes. Lesson 1: The answer is in your hands 5m 58s. Lesson 2: Culture matters and always will 8m 58s Lesson 3: Writing in the snow 12m 08s. Lesson 4: What's your decency quotient 14m 35s Lesson 5: Your mindset matters a lot 18m 03s. Lesson 6: Far or fast…you choose 22m 58s. Lesson 7: Make recognition your job 25m 00s. Lesson 8: Reverse Mentoring 30m 42s Lesson 9: Your career is not a one-day match. 36m 07s Lesson 10: Don't jerk the knee or shoot the mouth 38m 58s.

Vasco Pedro, CEO of Unbabel, joins SlatorPod to discuss the company's growth journey — from identifying the initial use case to raising USD 60m in Series C funding in 2019, and beyond.Vasco outlines Unbabel's translation pipeline and underlying technology. He describes the importance of the human-in-the-loop model and the ability humans have to impact the output of machine learning (ML) models.The CEO talks about the challenges of ‘going remote' overnight in response to Covid. Vasco says culture plays an important role in attracting top talent globally in the highly-competitive AI / ML space.Vasco also shares his experience with investors, such as Point72's Sri Chandrasekar, lead investor in Unbabel's Series C, who provide actionable insights on how to further scale the business.First up, Florian and Esther discuss the launch of the flagship Slator 2021 Language Industry Market Report. The duo share highlights from the 80-page, newly-released Market Report, which features a wealth of insights and data.They also tackle over a week's worth of M&A, as Florian unpacks Big Language Solutions' acquisition of US-based interpreting provider Language Link, and discusses the backstory to Big CEO Jeff Brink's “tenacity, honesty, and desire” in closing the deal.Esther talks about translation and interpreting provider Propio Language Services's acquisition of Vocalink — also in the US — while in Germany, she highlights GEtraNet's acquisition of Lingua-World. Florian closes by reviewing AI transcription agency Verbit's acquisition of captioning provider VITAC.

Diese Woche wurden die neuen Girocard Transaktionszahlen veröffentlicht. Auf den ersten Blick scheinen diese herausragend. Spielverderber die Party war die Frankfurter Unternehmensberatung Paysys, die jenseits von Twitter-Jubelgrafiken mal nachgerechnet hat und feststellte, dass die Girocard eigentlich im Gesamtmarkt sogar Marktanteile verliert. Huch, was ist denn jetzt aktueller Wasserstand: Es heißt, dass das girocard-Verfahren der Kreditwirtschaft zu einem großen Teil nur durch die Substitution von ELV so stark zulegen konnte – und dennoch verliert die Girocard (inkl. ELV) gegenüber Mastercard, Mastercard Debit, Maestro, Visa, Visa Debit und VPay seit Jahren kontinuierlich Marktanteile verliert. Laut PaySys ist der Marktanteil der Girocard (inkl. ELV) innerhalb der letzten zehn Jahre – gemessen am Umsatz – von 69,1 Prozent auf 65,4 Prozent aller Kartenzahlungen in Deutschland gefallen. Mastercard und VISA gewinnen also mehr und mehr Banken für ihre jeweiligen Debitprodukte. Direktbanken wie die Comdirect, angeblich auch die DKB, folgen offensichtlich den Neobanken und verzichten gänzlich auf die Herausgabe einer Girocard. Nun hat die Girocard die PSD1 überlebt und sich dem klaren politischen Wunsch „any card at any terminal“ in Europa widersetzt. Deutschland mit seinem nationalen Payment Scheme scheint eines der letzten gallischen Dörfer zu sein. Die britischen Banken haben sich vor Jahren erst von ihren nationalem Debitkarten-Scheme Switch/Solo verabschiedet und dann Vocalink, das nationale Realtime-Bankenscheme an Mastercard verkauft. Ähnliches passierte in Skandinavien dort wurde das nordische Pendant von Vocalink, einer Business-Unit von Nets, durch Mastercard übernommen. Nun sprechen die Unit-Economics im Payment-Business ganz klar gegen nationale Payment-Schemes. Payments ist ein klassisches Business mit sehr starken Skaleneffekten. Dies zeigt sich seit Jahren bei der starken Konsolidierung der Anbieter. Big is beautiful! Was ist dann aber der Sinn von nationalen Payment Schemes? Diese Frage des Sinns oder Unsinns von nationalen Payment-Schemes diskutiert Jochen mit Peter Robejsek. Peter Robejsek verantwortet als VP Product bei Mastercard das Produktmanagement für Deutschland und die Schweiz. Dies umfasst neben klassischen Mastercard Bezahllösungen auch innovative Lösungen rund um Instant Payments und Open Banking. Er blickt auf eine langjährige Erfahrung im Financial Services Sektor zurück, insbesondere im Wealth Management und in die Strategieberatung. Dort hat er bei Strategy& sowie bei Mastercard Advisors Finanzdienstleister und deren IT Serviceprovider zu Themen rund um Strategie, Technologie und Payments beraten.

Diese Woche wurden die neuen Girocard Transaktionszahlen veröffentlicht. Auf den ersten Blick scheinen diese herausragend. Spielverderber die Party war die Frankfurter Unternehmensberatung Paysys, die jenseits von Twitter-Jubelgrafiken mal nachgerechnet hat und feststellte, dass die Girocard eigentlich im Gesamtmarkt sogar Marktanteile verliert. Huch, was ist denn jetzt aktueller Wasserstand: Es heißt, dass das girocard-Verfahren der Kreditwirtschaft zu einem großen Teil nur durch die Substitution von ELV so stark zulegen konnte – und dennoch verliert die Girocard (inkl. ELV) gegenüber Mastercard, Mastercard Debit, Maestro, Visa, Visa Debit und VPay seit Jahren kontinuierlich Marktanteile verliert. Laut PaySys ist der Marktanteil der Girocard (inkl. ELV) innerhalb der letzten zehn Jahre – gemessen am Umsatz – von 69,1 Prozent auf 65,4 Prozent aller Kartenzahlungen in Deutschland gefallen. Mastercard und VISA gewinnen also mehr und mehr Banken für ihre jeweiligen Debitprodukte. Direktbanken wie die Comdirect, angeblich auch die DKB, folgen offensichtlich den Neobanken und verzichten gänzlich auf die Herausgabe einer Girocard. Nun hat die Girocard die PSD1 überlebt und sich dem klaren politischen Wunsch „any card at any terminal“ in Europa widersetzt. Deutschland mit seinem nationalen Payment Scheme scheint eines der letzten gallischen Dörfer zu sein. Die britischen Banken haben sich vor Jahren erst von ihren nationalem Debitkarten-Scheme Switch/Solo verabschiedet und dann Vocalink, das nationale Realtime-Bankenscheme an Mastercard verkauft. Ähnliches passierte in Skandinavien dort wurde das nordische Pendant von Vocalink, einer Business-Unit von Nets, durch Mastercard übernommen. Nun sprechen die Unit-Economics im Payment-Business ganz klar gegen nationale Payment-Schemes. Payments ist ein klassisches Business mit sehr starken Skaleneffekten. Dies zeigt sich seit Jahren bei der starken Konsolidierung der Anbieter. Big is beautiful! Was ist dann aber der Sinn von nationalen Payment Schemes? Diese Frage des Sinns oder Unsinns von nationalen Payment-Schemes diskutiert Jochen mit Peter Robejsek. Peter Robejsek verantwortet als VP Product bei Mastercard das Produktmanagement für Deutschland und die Schweiz. Dies umfasst neben klassischen Mastercard Bezahllösungen auch innovative Lösungen rund um Instant Payments und Open Banking. Er blickt auf eine langjährige Erfahrung im Financial Services Sektor zurück, insbesondere im Wealth Management und in die Strategieberatung. Dort hat er bei Strategy& sowie bei Mastercard Advisors Finanzdienstleister und deren IT Serviceprovider zu Themen rund um Strategie, Technologie und Payments beraten.

A Global Phenom Realtime Retail Payments (RTRP) systems are a global phenomenon. These systems exist or will soon in over 50 countries around the world. Some have been in operation for decades. The UK’s Faster Payments system, operated by Mastercard’s Vocalink unit, has been in operation for over ten years. Still others are still in the design stage. These account-to-account systems (A2A) have gained in regulator popularity because: They are fast. The receiver has near instant availability They are push payment systems. Transactions don’t take place unless the sender has enough money to fund the transaction. In other words, authorization takes place before the transaction User authentication is up to the financial institution These systems operate year round, 24x7 They are inexpensive. Transaction pricing is fixed, regardless of the value of the payment itself They have rich data carrying capability Some include a new message type called Request for Payment, essentially a digital invoice message that prompts the payer to send money and smooths account reconciliation. Still New to the US Most Americans still have no idea there’s a new national payment system in operation. Or that a similar one will begin operation in a few years. Wallets like Venmo and the Cash App abound. But an entirely new set of payment rails? That happens once in a generation. Some of those Americans, on the other hand, may have experienced what a system like this can do. Zelle is a fast push payment system that moves money between banks accounts. But Zelle is more of a directory-enabled messaging layer. The money movement between banks relies on older payment rails like ACH and wires. New Age messaging and user experience; old fashioned settlement. Key RTP Characteristics Payments geeks, like Payments on Fire® listeners, know that the Real Time Payments Network takes a different approach. Operated by bank processor, The Clearing House, the RTP Network leaves management of the user experience and the use case up to the bank, the processor, or the provider serving a particular industry. The RTP Network provides: The messaging between the sender and the receiver and each of their banks Nearly instant availability of the funds into the receiver’s account (by network rule) 24/7/365 operation (ACH and wires take a break after working hours) Instant settlement between the sending and receiving financial institutions In short: the RTP Network provides the plumbing and pipes. What it looks like and how it’s used is up to another stakeholder. Members of the network are financial institutions who either expose the RTP rails themselves or sponsor third party access so that those entities can make use of them. Nothing groundbreaking there. An RTRP with RTGS One of the impressive features of the RTP Network is that interbank settlement, the movement of funds between the sender and receiver banks, happens in realtime. The two banks settle their positions instantly. Settlement happens in realtime for every transaction. That’s what a realtime gross settlement (RTGS) does. Contrast that with a system like Zelle that provides instant messaging among the stakeholders but typically leaves the final movement of monies between banks to an overnight batch process via ACH. And this is net, not gross, settlement. The amount includes all of the day’s transactions. The RTP network achieves its RTGS capabilities using the following technique: RTP requires each member financial institution to pre-fund monies sufficient to handle its transactions. The money to operate the system has to be in place ahead of time. This eliminates settlement risk between the banks Each FI’s monies are pooled in a single pooled account, owned in common by the RTP Network’s member financial institutions. This pooled account is held at the the Federal Reserve The Clearing House maintains a ledger that tracks every transaction, that debits and credits FI pairs in realtime for each transaction Each Member FI is responsible for making sure it has enough funds to cover each of the transactions initiated by its accountholders. Each FI uses another open loop payment system, FedWire, to move monies into and out of its share of the pooled account as needed. A Maturing System That’s a lot of background to help US contrast this system against the other four mostly digital systems in the U.S. (If you’re not clear on that, join us for the best in payments education at a Glenbrook Payments Boot Camp®) The RTP Network is in its fifth year of operation. In this Payments on Fire® episode, Steve Ledford updates us on: The growth in member financial institutions The growth in transaction volume The expanding set of use cases Who is using the RTP Network How COVID-19 accelerated usage in new use cases So, take a listen. Here’s Steve talking about those new COVID-driven use cases. For a snapshot of how the faster payments phenomenon is growing in the U.S. here is the 2020 Faster Payments Barometer. Read the episode transcript Find more podcasts, visit Glenbrook's Payments on Fire® site Read expert payments industry commentary at Payments Views. Read the latest at Payments News. Subscribe here. Read our COVID-19 Payments Industry eBook

Take a listen as George and Deluxe’s President and CEO Barry McCarthy discuss how the company continues to adapt to and prosper in the digital age. Barry talks about the journey the company has taken, in recent times shifting from a conglomerate model grown via acquisition to today’s streamlined and focused small business focused organization. The Journey from Paper to Digital Services In Glenbrook’s Payments Boot Camps® we make the point that fintechs rarely invent new functions out of whole cloth. What they do excel at is reimagining and reengineering the processes that incumbent players have been locked into for years. It’s the incumbent’s inability to adapt that puts them at a competitive disadvantage. As Charles Darwin put it: “The species that survives is the one that is able best to adapt and adjust to the changing environment in which it finds itself.” We make this point in our training. Incumbent firms, no matter what the industry, survive and succeed over decades only if they have the ability to adapt to change in their environment. You only have to glance at the moves Visa and Mastercard have made over the last five years - the acquisitions of Plaid and Vocalink (among many) come to mind - and it’s obvious adaptation is at the core of their respective strategies. In this episode, we speak with a company that has over 100 years of adaptation behind it. Starting with the invention of the checkbook a century ago Deluxe Corporation has expanded and adapted its offerings to the digital needs of its customers. Take a listen as George and Deluxe’s President and CEO Barry McCarthy discuss how the company continues to adapt to and prosper in the digital age. Barry talks about the journey the company has taken, in recent times shifting from a conglomerate model growing by acquisition to today’s more streamlined and focused organization.  

When the World Economic Forum decides that cybersecurity is one of the top global risks alongside climate change, extreme weather and natural disasters you know it's serious. Their recent report on the top global risks identified cyber threats as something that has the capacity to disrupt society on a massive scale.This episode features Nick Coleman who at the time of recording was IBM's Global Head of Cyber Security Risk where he specialised in evaluating risks from cyber adversaries, digital transformation and regulation. He has recently taken up the role of Chief Security Officer for Vocalink, a Mastercard company.Before joining IBM he served as The UK Government's National Reviewer of Security, and authored “The Coleman Report” for the UK Parliament. Nick holds an MBA with distinction, and is a Fellow and Chair of Digital at the Institution of Engineering & Technology.He regularly advises boards around the world on digital leadership, and how to manage risk that results from traditional and emerging business models, and how to create trust and resilience.We spoke about topics such as:Where are we at in 2020 with cybersecurity?The WEF has designated cyber as a global riskThe average data breach takes 279 days to fixSpotting patterns to help detect attacksDo consumers care enough about cyber security?Should executives and the board be cyber aware?Getting business schools interested in cyber securityHow ready are you for a crisis?Running cyber fire drillsUsing AI to prevent attacksHyperpersonalised attacksThe employee as part of the 'last mile' of securityRemoving the friction from cybersecurityCloud security and GDPRThe 5 stages of responding to an attackAddressing the cybersecurity skills gapCyber role modelsWhat can small companies do to get ready?Three things to do this week1. Think about what is critical2. Think about what "good" looks like3. Who do you call when something bad happens?Your Host: Actionable Futurist® Andrew GrillFor more on Andrew - what he speaks about and replays of recent talks, please visit ActionableFuturist.com follow @AndrewGrill on Twitter or @andrew.grill on Instagram.

In our last podcast for a few months we have a look back at all the wonderful guests we've had over the previous 11 episodes and the awesome stories they shared with us. We've spoken to: Market Gravity, Mastercard, Plexel, Lic Frozen Cocktails, Flint Watches, Yolt, Coca-Cola, Merlin, Vocalink, Deloitte, Virgin Money, NatWest and LandSec...and it's been amazing! We'll be back in a few months with a fresh format for season 2 :-) Thanks to all our listeners from Olivia and Ben! 

Michael Rolph is co-founder and CEO of Europe’s fastest-growing payment, marketing, and loyalty platform, Yoyo.Michael started his career at Barclaycard, First Data and PayPal. Prior to founding Yoyo, he was a founding member and Director at Anthemis Group, the specialist FinTech advisory and investment firm. During his time there, he advised multiple start-ups like Azimo and The Currency Cloud in their early stages, established players like Vocalink and Skrill, as well as several banks on digital innovation, investment, and M&A.He is currently an advisor to Firestartr and has previously been a mentor at Seedcamp, the early-stage funding company and a non-executive director at The MoBank Group.Check out what Michael is up to at: https://yoyowallet.com/

Better use of data is key to more effective government. Across government, teams are doing fascinating work with data, on everything from policy to public services, from data sharing to data visualisation, and from infrastructure to ethics. But those projects often don’t get the attention they deserve. At this event, the first in a series of monthly meet-ups, four speakers presented their data projects in an exciting, quickfire format. Each speaker had 8 minutes, followed by 8 minutes of questions from the audience. In April, we heard from: Louisa Nolan, Lead Data Scientist at the ONS Data Science Campus, talking about faster indicators of economic activity Paul Maltby, Chief Digital Officer, Ministry of Housing, Communities and Local Government, talking about data in housing and land David Divitt, Vice President, Financial Crime Product Management, Vocalink, a Mastercard company, talking about using data to uncover new, increasingly sophisticated patterns of financial crime Sophie Adams and Jon Downing, Product Owner and Data Scientist, Ofgem, talking about data analytics This event was chaired by Gavin Freeguard, Programme Director and Head of Data and Transparency, at the Institute for Government. We would like to thank Vocalink for supporting this event.

In this episode of DataDrivers, Karen Webster and Vocalink’s George Evers go through the numbers for RTP, and discuss what comes next.

In this episode of DataDrivers, Karen Webster and Vocalink’s George Evers go through the numbers for RTP, and discuss what comes next.

Halloween comes early this year as we delve into a slew of grisly facts about financial crime in our latest Data Drivers. $1.4 trillion in losses? While 41 percent of crimes go unreported? As David Divitt, VP of Vocalink notes, frightening doings are afoot -- but there are ways to get the money back

Halloween comes early this year as we delve into a slew of grisly facts about financial crime in our latest Data Drivers. $1.4 trillion in losses? While 41 percent of crimes go unreported? As David Divitt, VP of Vocalink notes, frightening doings are afoot -- but there are ways to get the money back

Ross and David sit down with Eric Fulwiler, Executive Director of VaynerMedia and Teana Baker-Taylor, Chief Marketing Officer of Coinfloor. The group discuss the latest news hitting the fintech space this week, including: Challenger bank fury over delays to RBS funding scheme, Revolut reported suspected money laundering, EU wants more competition in fintech, Klarna’s payment card, M-Pesa looks to Ethiopia for expansion, Paypal invests in cross border payments, Payment rules create $1bn in losses for Chinese giants, and Kodak’s bitcoin rigs have had their moment as well as many more stories. We kick things off with challenger banks getting angry over the extended delays to RBS' £775M fund to boost competition in the small business banking market. Payouts have been delayed due to failure to make senior hires on time. Several challengers including Santander, Starling, Metro Bank and CYBG have been preparing bids for the cash, but a number have complained of being left in the dark and out of pocket because of the delays. Communication around the scheme has been “threadbare” but challengers are spending a lot of time and money on their applications for a piece of the fund. The panel discusses whether challenger banks should be relying on this funding at all or indeed spending their own money on applications, whether the banks are just desperate for free money and why executive hiring is having any impact on handing out funding. Next up we move on to the news that Revolut discovering a spate of money laundering on its digital payments system. There are huge implications from a KYC perspective, after HSBC were basically deemed complicit in Mexican money laundering after its KYC was deemed too lax. The panel discusses what this might mean for Revolut especially in regards to their application for a banking license and the larger reputational impact for fintech in general. Then the panel moves on to the EU pushing for more competition in the fintech space. Is the international body behind the times and making unfair assumptions of the industry? How can fintech be more competitive and how old does fintech have to be before it starts to count? The panel discusses all these things and has some interesting takes on the issue. Moving on to better news for the fintech industry, Klarna is launching a payment card and is preparing for expansion. Klarna’s 2,000 workers have been divided into 250 teams, each focusing on a specific problem for customers and how to solve it. Does this prove that digital is a small team sport? Klarna also faces difficulties breaking into the US and UK, two countries with little history of consumers paying by invoices. So, the question remains, can Klarna make headway in the UK? And calling back to the previous story, the panel examines whether this is creating competition within EU fintech. Speaking of expansions, M-Pesa looks to move in to Ethiopia. Could M-Pesa transform the Ethiopian economy in the same way as it has in Kenya? The panel discusses the state of fintech in the country which has no transference options in place at all and 'archaic' systems are ready for reform to help the economy. Tieing in seamlessly to the story, the panel looks at Paypal investing in cross border payments with P-PRO, a cross border payment platform for merchants looking to accept payments from other countries. The panel discuss why PayPal is investing so heavily in the payments space, if anyone previously heard of P-PRO, and how it compares to Mastercard enlisting Worldpay to push Vocalink's Pay by Bank app. Staying international, the panel next looks at losses in revenue from payment rules from the People's Bank of China. Chinese giants Alibaba and Tencent have lost $1BN thanks to these rules, but is $1BN a big deal to Alibaba and Tencent? Is 1.7% of revenue a big loss when your businesses move trillions of dollars? Is this move by the PBOC unprecedented, and is it likely to be rolled out anywhere else? Moving on to the tailend of the show, a scheme to rent out Kodak-branded bitcoin mining rigs has collapsed. The company, Spotlite, has had the scheme blocked by the US financial watchdog. This follows from the scheme being dubbed a scam by some critics, it's worth noting that Kodak and Spotlite had claimed customers would make $375 a month from the rigs but forgotten that mining Bitcoin becomes more difficult over time. And finally, Prime Day technicial issues resulted in a Prime Fail from 3pm EST when moments beforehand reports came in that Amazon's website wasn't working. Amazon issued a statement to say they were working on it at 5PM and instead of deals people were shown pictures of dogs looking sad. Customers missed out on deals, baskets were unexpectedly emptied and the “view deals” UX was taking people on an endless loop. All this and so much more on today's episode of Fintech Insider! Subscribe so you never miss an episode, leave a review on iTunes and every other podcast app. Spread the fintech love by sharing or tweeting this podcast. Let us know your thoughts @FintechInsiders and join the discussion by signing up at www.fintechinsidernews.com This week's episode was written and produced by Laura Watkins and edited by Holly Blaxill. Special Guests: Eric Fulwiler and Teana Baker-Taylor.

On this episode they discuss: - Three big European tech acquisitions (ARM, VocaLink and Opera's consumer business) - Square appears to be gearing up for a UK launch - A look at the Slovakia's startup ecosystem - An interview with Belgian 'scale-up' Showpad - Tech.eu's European tech funding report for Q2 2016 For information regarding your data privacy, visit acast.com/privacy

Good morning, welcome to Payments Monitor, my name is Faisal Khan, today is the 26th of October 2015, some stories for today are: TOP STORIES Trouble is brewing for Deutsche Bank as the US Justice Department and the New York Department of Financial Services are expanding their probe of money laundering at the German Bank’s Moscow unit to what now may seem like potential breach of Western sanctions against Russia after its 2014 annexation of Crimea. The US Dollar trades being investigated amount to US$ 6 Billion. Some good news for China in the coming days, the International Monetary Fund have given strong signals that the Chinese Yuan could soon join the fund’s basket of reserve currencies, better known as Special Drawing Rights. SDRs were created in 1969 to boost global liquidity as the Bretton Woods system of fixed exchange rates unravelled. Champagne bottled are undoubtedly being uncorked at VocaLink, the British firm behind UK’s Faster Payments, as it signed a letter of intent with US bank based ACH The Clearing House. Clearing House says the ISO 20022 standard real-time payments system will be designed to help US financial institutions gear up and execute real-time payments. This is a big win for Vocalink that lost the Australian real-time payments deal to SWIFT, while it did bag the Singapore real-time payments deal. All this pushes up reasons for the rumors of a SWIFT + Ripple merger to happen. You can tell a lot about an economy from the way it orders its nuts and bolts. Daniel Florness, Chief Financial Officer of Fastenal Co told investors “The industrial environment’s in a recession. I don’t care what anybody says”. His reason for saying so? Declining orders for his company’s nuts and bolts. Spending across the US industrial sector has slowed down, with some industrial giants downright pulling back on machines and parts orders. Quarterly profits and revenue at big American companies are all set to decline for the first time since the recession. The markets are mixed on this Monday morning. The Dow Jones, Nasdaq and Crude Oil are all in the red, while US 10 Year Treasury Note along with the a stronger Euro are looking good in green! BLOG OPINION: We’ve all been educated in more ways than one, of how the US Federal Reserve makes money. How it can magically go to an imaginary printer and print US Dollars. What about the reverse, what does the Fed do when it needs to take money away from the money supply? Does it just go towards a shredder? Not quite. Episode 659 of NPR’s Planet Money addresses just that, titled “How to Make $3 Trillion Disappear”. The answer will surprise you. CLOSING THOUGHTS Fourteen years ago Steve Jobs showcased the iPod to the world. The reactions were mixed. MacRumors.com one of the oldest websites dedicated to the Apple fan community recorded the moment. In hindsight it is very easy to scroll back and roll-eyes at the naysayers. That 23rd October 2001 was a pivotal moment, and fast forward to today where Apple Pay just turned 1, it will be interesting for us to scroll back a few years from now and look at how the Naysayers reacted to Apple Pay. You can access all the links of this podcast on paymentsmonitor.com - That’s all for today, my name is Faisal Khan and you’ve been listening to the Payments Monitor. Speak tomorrow!

Good morning, welcome to Payments Monitor, my name is Faisal Khan, today is the 12th of October 2015, happy thanksgiving to all those listening in from Canada, to the rest, its Monday! Anyhow, here is what is trending today: TOP STORIES Dell agrees to buy EMC for US$ 67 Billion – the largest tech deal ever. Dell announced a few hours ago its intention to buy the corporate giant for software, storage and security as part of Dell’s transformation from the consumer PC business to an IT solutions provider for companies. SnapSwan, a cryptocurrency gateway that used to trade Ripple’s XRPs (without license I might add) was granted a license to provide services as a regulation Payment Institution (by Luxembourg). SnapSwan will now offer payments, remittances and currency exchange services in Europe.. UK’s VocaLink, the company behind UK’s Faster Payments has reason to celebrate. Thailand signed a deal with VovaLink for instant mobile payments. This is a big win for VocaLink which is also the front-end contender in countries like Singapore and Australia. The deal, announced at Sibos (Singapore today) is signed between VocaLink and Thailand’s interbank payment network: National ITMX. A point worth mentioning, this is a Letter of Intent that will explore the potential development of a real-time mobile payments system in Thailand. Oil rose slightly after Kuwait’s oil minister said OPEC forecasts more demand for oil next year, in face of removal of high-cost producers, who eventually would be removed from the production count, thus tightening up the global fuel balance. After the recent spate of hacking attacks (or disclosures – however you want to look at it), cyber insurance premiums have rocketed. Deductibles are being raised significantly and coverage caps are now being placed to US$ 100 Million by many insurance companies. Renewals have also been made prohibitively expensive. Don’t be expecting any sympathy from the insurance industry anytime soon. BLOG OPINION First there was the 2008 financial crisis. Then the European debt crisis (which still isn’t over by the way), now Goldman Sachs is saying, get ready for the third wave of financial crisis. Who does it affect? Emerging Markets, or EM-Wave as it is called. Now usually when an investment bank like Goldman Sachs lets this horse out in the open, the key word to understand is, losses have already been taken. ONE LAST WORD… Disruption it seems is difficult to accept. I bet at one point in time the buggy-whip manufacturers were up in arms over the introduction of something called the horseless carriage, i.e. the automobile. The same is being shown by cities and countries all over the world, who are trying to place clogs in the machinery, especially for the transportation sector, i.e. Uber and its fellow clones. After Paris, Australia has now cited it will block all taxi-hailing apps like Uber, iHail, etc. in Australia. It is only a matter of time when the consumers will put pressure on their local legislators to have such myopic decisions reversed. That’s all for today, my name is Faisal Khan and you’ve been listening to the Payments Monitor.

The 'Cyber Monday' computer meltdown that affected RBS and NatWest customers as they tried to bag bargains in the run-up to Christmas was just the latest in a string of IT glitches that have plagued the big UK banks in recent years. But is there a greater problem than the inconvenience caused for shoppers? Melanie Abbott talks to those who have worked on the huge, ageing computer systems at the heart of the UK banking system and finds out that banks like RBS face a massive dilemma - spend billions replacing their 'mainframes' or risk bigger, more serious problems in the next few years. Melanie finds out about the scale and size of the IT systems behind our everyday transactions as she becomes the first journalist allowed access to one of the secret data centres that power the banking payments system at Vocalink. And she hears from Andrew Tyrie, chair of the Treasury Select Committee, about the urgent need to solve the banks' IT problem before they damage the entire financial system.

Vocalink enables clients to centralize their global communications by managing their translation and interpretation activity in different languages.