DOCSLIB.ORG

Four Generations' Innovation Needs

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

HOW EASTERN LABS MEETS Four Generations’ Innovation Needs FEATURE STORY NEWS & TRENDS DEEP DIVE Why FIs should frame NatWest introducing biometric How FIs are using biometrics technological06 innovation as mobile payments09 for business and AI to enhance14 security a ‘precision tool, not a blunt customers without introducing frictions instrument’ J U N E 2019 © 2019 PYMNTS.com All Rights Reserved 1 DIGITAL BANKINGTRACKER TABLE OF CONTENTS What’s Inside 03 How financial institutions are innovating digital security tools to better engage customers who expect faster banking experiences Feature Story An interview with Ashley Nagle Eknaian, chief digital strategist and head of Eastern 06 Bank innovation unit Eastern Labs, on how the FI is approaching innovation and technologies like AI to satisfy different generations’ needs News and Trends The latest headlines on how banks are experimenting with digital cards, mobile apps 09 and online tools to better secure digital banking experiences Deep Dive A look at how biometrics, artificial intelligence and other tools can prevent fraud and 14 better identify customers without adding frictions Top 10 Rankings 18 The highest-ranking B2B and B2C digital banking providers Scorecard 19 See this month’s top scorers and a directory featuring more than 250 digital banking players About 157 Information on PYMNTS.com and Feedzai ACKNOWLEDGMENT The Digital Banking Tracker was done in collaboration with Feedzai, and PYMNTS is grateful for the company’s support and insight. PYMNTS.com retains full editorial control over the following findings, methodology and data analysis. © 2019 PYMNTS.com All Rights Reserved 2 What's Inside Speedy transactions and services are hallmarks of Around the digital banking world the digital banking industry, with consumers expect- Banks around the globe are using a variety of tech- ing to accomplish increasingly complex tasks faster nologies that merge speed and security to create than ever. Stringent identity verification and securi- smooth digital banking experiences without alien- ty methods are becoming increasingly important for ating their customers. United Kingdom-based FI banks looking to provide such services, especially NatWest is integrating biometrics into its business as identity theft and impostor scams are on the rise. client services with the launch of a new payments Consumers reportedly lost $1.48 billion to fraud last feature that utilizes Apple's Touch ID or Face ID to year, but they are unwilling to forgo the speed they authenticate transactions without card readers. have come to expect from their digital banking expe- Clients can take advantage of this offering through riences for security. the bank’s mobile app. Financial institutions (FIs) that want to stay competi- FinTechs and banks in the United States are also tive must offer both fast and secure services that can trying out new solutions for more secure custom- protect against even the most sophisticated types of er experiences. California-based Binji just launched fraud. Many banks are turning away from traditional with the goal of combining multiple payment cards online security measures, like passwords and PINs, into one. Users will be able to store the creden- as a result. They are instead looking to biometric au- tials of up to 24 cards and switch between them as thentication tools such as facial recognition, finger they wish. scans and voice prints to more accurately identify users. Artificial intelligence (AI) and advanced ana- Digital banking fraud may be on the rise, but it is lytics are also being implemented to further protect not hampering growth in the space. The Monetary banking customers. Authority of Singapore (MAS) is currently in talks to allow online banks to operate in the city-state. The Creating an intricate security protocol that seam- nation has allowed digital businesses to operate lessly operates within the span of a few seconds within its borders since 2005, leading some to see isn’t easy, however — even with these new technol- digital banks as an inevitability. ogies on hand. Banks will need to make security a frictionless part of their user experiences if they want For more on these stories and other digital banking to retain customers. headlines, read the Tracker’s News and Trends sec- tion (p. 9). © 2019 PYMNTS.com All Rights Reserved 3 WHAT'S INSIDE How Eastern Labs works to personalize technology for customers EXECUTIVE INSIGHT Banks face the daunting challenge of catering to different generations, but they must also meet the customers' expectations at physical branches and How can FIs better use biometrics and online channels, all while delivering faster and more unsupervised learning technologies secure banking experiences. These tasks are becom- like AI to secure their services? ing harder for legacy banks to achieve, said Ashley Nagle Eknaian, chief digital strategist and head of Eastern Bank innovation group Eastern Labs. For this month's Feature Story (p. 6), Eknaian explained how “There is some amazing tech being developed that’s Eastern Bank is innovating its customer experiences. helping banks and FIs fight fraud. At the recent Financial Crime and Technology Summit that we host- Deep Dive: How banks can make biometrics the ed in Amsterdam, we heard about everything from best part of their customer experiences blockchain for [anti-money laundering] to behavioral Banks are striving to improve their online defenses, biometrics. However, one of the concerns we hear from but fraudsters are also getting more creative. This banks and FIs is that they don’t have the ability to wire means FIs must continuously innovate their secu- on these ... new tools because they fear they’ll have to rity approaches — especially as consumers expect put a new team on each of these siloed solutions to the fewer frictions in their digital banking experiences. same problem. That’s where we come in, offering a plat- Many banks are now pivoting and approaching se- form that can take in a lot of third-party data enrichers curity in new ways to engage users who want their and tools, test out different combinations to get the transactions to take as little time as possible. FIs are [necessary] profiling information, and then put those using biometric authentication and AI for quick and together with the company’s own data. From there, our seamless authentication, helping them streamline on- advanced AI can make sense of all of that data in real line banking security to prevent it from becoming a time to get a single risk score that’s actionable. This is time-consuming barrier. Visit the Tracker’s Deep Dive what the future of fighting financial crime looks like, us- (p. 14) to learn more about how these technologies ing leading tools and doing it at scale.” can provide new methods of engagement for banking customers. June Digital Banking Tracker updates This edition of the Digital Banking Tracker includes PEDRO BARATA profiles of more than 250 financial players, including three additions: Oxygen, Payzello and YouTrip. vice president for professional services and delivery at Feedzai © 2019 PYMNTS.com All Rights Reserved 4 WHAT'S INSIDE 5Five Fast Facts 31% 70% 16% Share of Share of consumers Europeans Expected CAGR of who use mobile who use smart the global digital banking apps devices to banking market more often than transfer money, 72% 3% through 2024 other apps pay bills and check their account balances Portion of Bridge Portion of Millennials who millennials with think mobile apps primary checking are important for accounts at fully accessing bank digital banks like accounts Simple or Chime © 2019 PYMNTS.com All Rights Reserved 5 HOW EASTERN LABS MEETS FOUR GENERATIONS’ INNOVATION NEEDS © 2019 PYMNTS.com All Rights Reserved 6 Approximately 46 percent of Americans have boost- “Technology plays a major role in how banks oper- ed their mobile banking usage in the past year, with ate today,” she said. “At Eastern Labs, we're focused related apps being among those consumers use on the future of banking and anticipating what needs most. The technology’s rise has pushed many to ex- consumers may have, what challenges technology pect more from their banks, but such institutions can help us solve and how we respond.” have struggled to roll out innovations and bypass legacy infrastructures. This begs the question, how Approaching technology in the digital age can centuries-old banks leverage technology to bet- FIs used to years-long innovation processes are ter serve consumers? now being met with technological advancements FIs can start by framing technological innovation that present a dizzying array of possibilities. Eastern as a precision tool rather than a blunt instrument, Bank directs those possibilities toward what its cus- said Ashley Nagle Eknaian, chief digital strategist tomers are really seeking. and head of Eastern Labs for Eastern Bank. The “It’s sometimes like being a kid in a candy store — Boston-based FI, which celebrated its 200th anniver- there are many solutions out there, but you do have to sary last year, is the oldest and largest mutual bank prioritize,” she said. “What I think about is identifying in the United States. Its Eastern Labs innovation unit friction points for customers. In the small business was launched in 2014. space, for example, how can [artificial] intelligence In a recent interview with PYMNTS, Eknaian ex- tools and services help us innovate or solve challeng- plained that FIs must avoid treating technology as a es to deliver a fast, simple and convenient banking catch-all fix and instead tailor solutions to specific experience? Are there ways we can give the custom- customer pain points. er a next-generation product?” © 2019 PYMNTS.com All Rights Reserved 7 FEATURE STORY Small business developments are an important focus products and have very powerful experiences. Banks for Eastern Labs, which released an express loan ser- should think about their channels in the same way.” vice for small and medium-sized businesses (SMBs) These updated branches offer improved personaliza- before Eknaian headed up the lab.
Recommended publications
  • The Reason Given for the UK's Decision to Float Sterling Was the Weight of International Short-Term Capital

    The Reason Given for the UK's Decision to Float Sterling Was the Weight of International Short-Term Capital

    - Issue No. 181 No. 190, July 6, 1972 The Pound Afloat: The reason given for the U.K.'s decision to float sterling was the weight of international short-term capital movements which, despite concerted intervention from the Bank of England and European central banks, had necessitated massive sup­ port operations. The U.K. is anxious that the rate should quickly o.s move to a "realistic" level, at or around the old parity of %2. 40 - r,/, .• representing an effective 8% devaluation against the dollar. A w formal devaluation coupled with a wage freeze was urged by the :,I' Bank of England, but this would be politically embarrassing in the }t!IJ light of the U.K. Chancellor's repeated statements that the pound was "not at an unrealistic rate." The decision to float has been taken in spite of a danger that this may provoke an international or European monetary crisis. European markets tend to consider sterling as the dollar's first line of defense and, although the U.S. Treasury reaffirmed the Smithsonian Agreement, there are fears throughout Europe that pressure on the U.S. currency could disrupt the exchange rate re­ lationship established last December. On the Continent, the Dutch and Belgians have put forward a scheme for a joint float of Common Market currencies against the dollar. It will not easily be implemented, since speculation in the ex­ change markets has pushed the various EEC countries in different directions. The Germans have been under pressure to revalue, the Italians to devalue. Total opposition to a Community float is ex­ pected from France (this would sever the ties between the franc and gold), and the French also are adamant that Britain should re­ affirm its allegiance to the European monetary agreement and return to a fixed parity.
  • Ecommerce Connectors Overview

    Ecommerce Connectors Overview

    eCommerce Connectors Overview Global Coverage September 24th, 2021 Global Coverage eCommerce Connectors Overview eCommerce Connectors Overview The eCommerce Connectors Overview is an alphabetical listing of all the connectors in the ACI global network. Card acquirers are listed first, followed by alternative payment methods. Listings include each connector’s main office location(s). Card Acquirers CONNECTOR NAME FINANCIAL LICENSES ISSUED IN Absa Bank | Absa Bank Limited South Africa Abu Dhabi Islamic Bank | Abu Dhabi Islamic Bank (ADIB) United Arab Emirates [UAE] acquiring.com | Trust Payments (Malta) Limited United Kingdom [UK] AIB Merchant Services | First Merchant Processing (Ireland) DAC Ireland Al Rajhi Bank | Al Rajhi Bank Saudi Arabia Alfa Bank, OJSC Russia Aman Bank Libya American Express | American Express International Inc. United States of America [USA] American Express Company (KSA) Saudi Arabia ANZ Bank | Australia and New Zealand Banking Group Limited Australia Arab African International Bank (AAIB) Egypt Arab National Bank Saudi Arabia Atlas Banka AD Montenegro Bambora | Bambora AB Sweden Banco Bilbao Vizcaya Argentaria (BBVA) Spain Banco de Oro, BDO Unibank, Inc. Philippines Banco Nacional Ultramarino (BNU) Macau Banco Sabadell | Banco de Sabadell, S.A. Spain Bank AlJazira | Bank Al Jazira Saudi Arabia Bank Asya Turkey Bank Audi Lebanon Bank Central Asia (BCA) Indonesia Bank Denamon Indonesia Bank Frick & Co. AG | Ceevo Financial Services (Malta) Limited Liechtenstein Bank Internasional Indonesia (BII) Indonesia Bank Islam Malaysia Berhad (BIMB) Malaysia Bank Muscat Oman Bank of America Merchant Services United States of America [USA] Bank of New Zealand New Zealand Bank of Queensland Australia Bank of the Philippines Islands (BPI) Philippines © September 24th, 2021 ACI Worldwide.
  • Climate-Related Risks for Ministries of Finance

    Climate-Related Risks for Ministries of Finance

    Climate-Related Risks for Ministries of Finance: An Overview —- Nepomuk Dunz and Samantha Power (World Bank) A product of the Helsinki Principle 5 Workstream May 2021 Authors and Acknowledgements This note was co-authored by Nepomuk Dunz and Samantha Power (World Bank) under the direction of the Sherpa Co-Chairs of the Coalition of Finance Ministers for Climate Action, Pekka Moren (Finland) and Masyita Crystallin (Indonesia), the Lead of the Helsinki Principle 5 Workstream, Meg Nicolaysen (UK), and Fiona Stewart (World Bank). This note benefited from contributions from Robert Zymek, Emmanuelle Dot (UK Treasury), Joanna Tikkanen (MoF Finland), Bryan Gurhy, Sebastien Boitreaud, Cigdem Aslan, Hiroshi Tsubota, Lars Jessen, Henk Jan Reinders, Rachel Chi Kiu Mok (World Bank), Ulrich Volz (SOAS, University of London), Joaquim Levy, Carter Brandon, and Lihuan Zhou (World Resources Institute), as well as input from the Helsinki Principle 5 Workstream Members more broadly. This note also benefited from the work of the Network for Greening the Financial System (NGFS) and its members. Benjamin Holzman provided graphic design. Disclaimer and Copyright This work is a product of the Coalition of Finance Ministers for Climate Action (‘the Coalition’) and was prepared at the request of the Co-Chairs of the Coalition under the Helsinki Principle 5 Workstream on ‘mobilizing private finance for climate action’. The views, findings, interpretations, and conclusions expressed, however, are those of the authors and do not necessarily reflect those of the Coalition, its Members, or the affiliations of the authors. This work may be reproduced, in whole or in part, for non-commercial purposes provided full attribution to this work is given.
  • April 12Th 2021 Cleansing Statement

    April 12Th 2021 Cleansing Statement

    NEXI S.P.A. Corso Sempione 55 20149, Milan Italy PRESS RELEASE Milan (Italy)—April 12, 2021 Nexi S.p.A., a società per azioni incorporated under the laws of Italy (“Nexi” or the “Issuer”), announced today that it it intends to offer approximately €2,100 million in aggregate principal amount of unsecured Senior Notes consisting of Senior Notes due 2026 and Senior Notes due 2029 (collectively, the “Notes”). In connection with the offering of the Notes, the Issuer disclosed certain information, including certain pro forma financial information and non-GAAP financial information of the Issuer, Nets Topco 2 S.à r.l. and its subsidiaries and SIA S.p.A. and its subsidiaries as of and for the years ended December 31, 2020 and 2019, to prospective holders of the Notes. A copy of such information is hereby disclosed to the Issuer’s shareholders and to the holders of the Issuer’s existing indebtedness and is attached hereto as Exhibit A (the “Information Release”). The Notes will be offered only to non-U.S. persons outside the United States in connection with offshore transactions complying with Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”). The Notes have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws. **************** This announcement contains information that prior to its disclosure may have constituted inside information under European Union Regulation 596/2014 on market abuse.
  • The Theory and History of Banking

    The Theory and History of Banking

    T H E H EO RY A ND H IST O O F B A NK ING CHARLES F . DUNBAR MRLY P E OF P LITICAL EC MY HARVARD U IVE ITY O ROF SSOR O ONO . N RS W ITH CHAPTE RS ON FOREIGN E"CHANGE AND CENTRAL B ANKS B Y L VE AGUE O I R M. W . SPR P FE OF B K G AND F CE H V D U V E TY RO SSOR AN IN INAN . AR AR NI RSI W ITH SU PPLEMENTARY CHAPTER PRESENTING RECORD OF THE FEDERAL RESERV E SYSTEM B Y HENRY PARKE R WILLIS Pnon sso a op B ANKING COLUMB IA U NI VE RSI TY FORuE RLY EC E T Y FED E L E E a a S R AR RA RES RV li t 8 E 4 FOURTH E DITION A ’ G . P . PUTN MS SONS NEW YORK AND LONDON Obe finichetboc ket p ress o ri h 1 8 1 C p y g t , 9 b y e s n bar Ch arl F. Du o ri h . 1 0 1 1 9 1 7 . by C p y g t 9 , ’ P . P n am s Son s G . ut o ri h 1 2 2 b C p y g t , 9 , y ' P. Pu n am s Son s G . t Fi rst P ublish ed { 8 91 con d sed Ed n 1 S e Revi i ti o 1 90 T rd R d E d i on 1 1 h i e vi se it 9 7 Four h R evi sed E di i on Oc ober 1 2 2 t t t .
  • Worldline 2019-21 3-Year Plan

    Worldline 2019-21 3-Year Plan

    Worldline 2019-21 3-year plan Gilles Grapinet, Chief Executive Officer Marc-Henri Desportes, Deputy CEO Eric Heurtaux, Chief Financial Officer 1 Disclaimer This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group's expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors behaviors. Any forward-looking statements made in this document are statements about Worldline’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Worldline’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2017 Registration Document filed with the Autorité des Marchés Financiers (AMF) on March 21, 2018 under the filling number: D.18- 0163, and its update filed with the AMF on August 1, 2018 under the registration number: D.18-0163-A01. The Group’s financial information relating to the financial year ended December 31, 2018 included in this document have been prepared using a process similar to that adopted for the preparation of the Group’s annual consolidated financial statements but are not yet audited. The Board of Directors of Worldline SA has examined at its January 29, 2019 meeting the Group’s financial information for the financial year ended December 31, 2018 and has approved their communication.
  • Capstone Headwaters Fintech & Payments M&A Coverage Report Q3 2019

    Capstone Headwaters Fintech & Payments M&A Coverage Report Q3 2019

    Capstone Headwaters FINANCIAL TECHNOLOGY & PAYMENTS Q3 2019 TABLE OF CONTENTS FINANCIAL TECHNOLOGY INDUSTRY OVERVIEW FinTech Industry Overview Year-to-date (YTD) 2019 continues to see strong deal volume and financing across the Financial Technology (FinTech) industry. In Q3, 83 mergers and Payments Industry Overview acquisitions (M&A) were completed in the space and 224 transactions were Unicorns completed YTD. Notable IPOs Financing markets in 2019 have been extremely active. FinTech financings are Select Transactions on pace to have the most active year in terms of total volume of financings in FinTech Coverage Verticals the history of the vertical. This has been driven by numerous late-stage mega- Multiples By Sector rounds ($100 million+) for FinTech startups. While late-stage mega-rounds ran rapid this quarter, early-stage venture capital backed funding dropped quarter- Public Company Data over-quarter. Firm Track Record Notable mega-round financings in Q3 included Klarna, an online payments and CONTRIBUTORS point-of-sale (POS) lender. Klarna received a $460 million equity fundinground led by Dragoneer Investment Group, valuing Klarna at $5.5 billion, post-money. Additionally, C2FO raised $200 million in financing led by SoftBank Vision Fund, David Francione valuing C2FO at $1.3 billion, post-money. Managing Director 617-419-2040 M&A Activity: Financial Technology [email protected] 150 Michael J. Warren 121 109 Analyst 96 100 86 978-587-7920 85 77 83 [email protected] 64 50 Number of Transactions 0 Q4 '17 Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Source: Capital IQ, PitchBook, and Capstone Headwaters Research 3 www.capstoneheadwaters.com October 2019 Financial Technology & Payments | Q3 2019 PAYMENTS INDUSTRY OVERVIEW – B2B OFFERS SIGNIFICANT GROWTH OPPORTUNITY M&A activity in the Payments industry remained strong with a total of 44 transactions completed in Q3 2019 and 133 transactions completed through YTD 2019.
  • Executive Summary

    Executive Summary

    Introducing FanMint The Next Generation of Fan Engagement for Artists, Entertainers, Athletes & Teams First Regulatory-Compliant Securities Issuance & Marketplace Utilizing Blockchain & Decentralized Finance Infrastructure © 2021 FAN Engagement, Incorporated • Confidential & Proprietary Disclaimer This confidential presentation (this “Presentation”) contains selected information about Tritaurian Capital, Incorporated and its affiliated entities (collectively, “Tritaurian”). This Presentation is intended for authorized recipients only and includes confidential, proprietary and trade secret information regarding Tritaurian and must be held strictly confidential. By accepting this presentation, each recipient agrees that (i) it will keep confidential all information contained, and (ii) that it will not use any information contained herein for any purpose other than in discussions with, or in furtherance of a business relationship with, Tritaurian. Statements contained in this Presentation are based on current expectations, estimates, projections, opinions, and beliefs of Tritaurian as of the date of the Presentation unless stated otherwise, and Tritaurian has no obligations to update any information contained herein. Such statements involve known and unknown risks and uncertainties, and are delivered “AS IS.” Tritaurian does not make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein and nothing contained herein should be relied upon as a promise or representation as to past or future performance of Tritaurian or be construed as creating any obligation of Tritaurian without an explicit written agreement duly executed by Tritaurian. Several of the products and services described herein require Tritaurian to obtain various regulatory licenses. Some of these have not been obtained yet, but Tritaurian intends to obtain such licenses.
  • The Development and Effect of Banking in Utah, 1933

    The Development and Effect of Banking in Utah, 1933

    THE DEVELOPMENT AND EFFECT OF BANKING IN UTAH, 1933 - 19^5 * J. Patrick McOahan A research report submitted to the faoulty of the University of Utah in partial fulfillment of the requirements of the degree of Master of Business Administration College of Business University of Utah May, 1963 This Research Report for K. B* A. Degree * J. Patrick MqGahan had been approved by 4 Faculty Advisor Chairman, M. B. /A, Committee Dean* //College of Business ACKNOWLEDGEMENTS The author wishes to express hia appreciation to all those who assisted hire in the preparation of this report. A speoial note of appreciation to Dr. Roland Stucki for many hours devoted to reading this research report as it progressed and for offering many helpful suggestions and criticisms. Those who freely provided information and time also deserve recognition. Among those are Mr. C. B. Quinn, Chief Examiner of the Utah State Bank Commissioner's Office, and Mr. Fredrick G. Eberhard, Secretary of the Utah Banker's Association* lii TABLE OF CONTENTS Page ACKNOWLEDGEMENTS.....................................iii LIST OF CHARTS ........................... Yi LIST OF E X H I B I T S ................................... vii CHAPTER I. INTRODUCTION .............................. 1 Background Information ......... 1 Statement of Purpose ...................... 2 General "'rocedurea and Methods Followed . 2 Plan of the Report 3 n . 1932 - 193^, A PERIOD OF LEGISLATION .... 4 Utah and tivs Depression . ................. 4 Utah Banks During the Depression ........... 6 Bank Holiday...................... .. 7 Banking Legislation 9 Utah State Legislation ....•••« 9 Banking holidays and restrictions on withdrawal of deposits 9 State depository law 10 Branch banking bill ................. .. 11 Borrowing by closed banks ....... 12 Federal Legislation 12 Federal Deposit insurance Corporation .
  • A Streamlined Regulatory Structure for Québec's Financial Sector

    A Streamlined Regulatory Structure for Québec's Financial Sector

    A Streamlined Regulatory Structure for Québec's Financial Sector Report of the Task Force on Financial Sector Regulation December 2001 A Streamlined Regulatory Structure for Québec’s Financial Sector ISBN 2-550-38533-0 Legal Deposit Bibliothèque nationale du Québec Publication: December 2001 Montréal, December 2001 Ms. Pauline Marois Deputy Premier and Minister of State for the Economy and Finance Ministère des Finances 12, rue Saint-Louis, 1er étage Québec (Québec) G1R 5L3 Madam, We are pleased to submit the report of the Task Force on Financial Sector Regulation, entitled “A Streamlined Regulatory Structure for Québec’s Financial Sector”. This report is more than the product of our deliberations; it represents the efforts and contributions of interested people, industry stakeholders in particular, to fulfil the mandate you gave us last May 2. This mandate is particularly opportune in view of the disintermediation, decompartmentalization and inter-sectoral convergence in Québec’s financial sector. Our proposal to create a single regulatory body, namely the Agence d’encadrement du secteur financier du Québec, satisfies, in our view, the clear need for simplicity and efficiency of a constantly changing financial sector. The recommendations in this report should make it possible to effect tangible improvement in the regulatory structure of Québec’s financial sector. … 2 Ms. Pauline Marois - 2 - We thank you for your confidence in us and remain Yours truly, Claude Béland Pierre Carrier Yvon Charest Pierre Comtois Pierre Laurin Dominique Vachon Yvon Martineau, Chairman FOREWORD The Task Force on Financial Sector Regulation, constituted by order-in- council on May 2, 2001, was instructed to analyze the regulatory structure of Québec’s financial sector and recommend measures to the Minister of State for the Economy and Finance regarding regulatory bodies and the improvement of this structure.
  • 20180607 NACHA Conference

    20180607 NACHA Conference

    Faster Payments Reality in Europe & the Future of Cross Border Payments Observations on ongoing developments Michael Steinbach CEO equensWorldline and Managing Director Worldline Financial Services Payments Innovation Alliance 7 June 2018 © equensWorldline About our group Financial Services and equensWorldline 2 07/06/2018 | © equensWorldline | Payments Innovation Alliance | Geneva GBL Financial Services – ID card Connecting payers and payees via any type of electronic transaction * pro forma figures 2017 3 07/06/2018 | © equensWorldline | Payments Innovation Alliance | Geneva Faster cross-border Account-to-Account payments © equensWorldline Industry trends Putting pressure on traditional banking revenue pools Customer behavior New technologies Payments revenue pools of traditional products under Mobile APIs pressure Cross channel Biometrics New products (e.g. Instant Better User Experience Artificial Intelligence Payments) a “ new normal ” Speed Distributed Ledgers Increase in investment Key budgets : IT (including drivers and Macro trends Digitization, Globalization, Connectivity compliance and security) as enablers main spending domain PSD2 New business models Instant Payments Disintermediation GDPR Competition increase Banks are making eIDAS also w. peer banks strategic partner decisions to unlock new revenue pools New regulation Competition and reduce TCO on back-office 5 07/06/2018 | © equensWorldline | Payments Innovation Alliance | Geneva SWIFT used to be the default For cross border payments Payer Payer Bank SWIFT Messaging infrastructure Bank Payee Payee Bank Bank Todays cross-border payments are perceived as high cost, slow and inefficient 6 07/06/2018 | © equensWorldline | Payments Innovation Alliance | Geneva Multiple cross-border payment initiatives Forcing banks to maintain access to various instant payments networks DLT * Fintech Incremental Instant disruptive service service Payment alternatives offerings renewal ACH services e.g.
  • Government-Business Forum on Small Business Capital Formation Program

    Government-Business Forum on Small Business Capital Formation Program

    37TH ANNUAL Government-Business Forum on Small Business Capital Formation DECEMBER 12, 2018 COLUMBUS, OHIO PROGRAM UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 DIVISION OF CORPORATION FINANCE December 12, 2018 Dear Forum Participant: Welcome to the Thirty-Seventh SEC Government-BusinessForum on Small Business Capital Fonnation. The Secu1ities and Exchange Commission has conducted this Forum annually since 1982, and we are very happy to host this year's Forum in partnership with the National Center for the Middle Market at The Ohio State University Max M. Fisher College of Business. Holding this event in Columbus, one of the best cities for entrepreneurs and startups, gives us a unique opportunjty to hear directly from participants in the small business community about their experiences with -- and thoughts on ways to improve -- our regulatory system. This year we are pleased to present two panels addressing many of the complex issues facing small businesses today. The first panel will explore how capital fonnation options are working forsmall businesses, such as those in the Midwest, and the second panel will focus on diversity and capital fonnation. We are looking forward to today's discussions and the input and recommendations we will receive from paiticipants. Thank you for devoting your time and effortsto participating in today's Forum. We also want to extend our thanks to our friends at the National Center for the Middle Market and the Max M. Fisher College of Business for being such gracious hosts and making this event happen in Columbus. Very truly yours, ��� Jennifer A. Zepralka Chief, Office of Small Business Policy 2018 SEC Government-Business Forum on Small Business Capital Formation In partnership with the National Center for the Middle Market at the The Ohio State University Max M.