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Banking
Over the years China has leveraged its liberalisation policies and trade reforms to grow into one of the largest economies in the world. An average Gross Domestic Product (GDP) growth of around 9 per ... Read moreOver the years, China has leveraged its liberalisation policies and trade reforms to grow into one of the largest economies in the world. An average Gross Domestic Product (GDP) growth of around 9 per cent, dynamic trade, high foreign direct investment inflows and skilled manpower, have all played a crucial role in making China's economy prosperous.
Investment and Securities
Twenty years ago Australia was at the forefront of financial services reform. The proposed changes of Q1 2009-10 give us the unique opportunity to claw back our leading position. We must all take responsibility ... Read moreTwenty years ago, Australia was at the forefront of financial services reform. The proposed changes of Q1 2009-10 give us the unique opportunity to claw back our leading position. We must all take responsibility for working with the regulators and industry to make this a reality.
This white paper argues that the answers to the myriad 'engagement and trust' issues currently perplexing the financial services industry lie in the adoption of smart intuitive interactive technology. Read moreThis white paper argues that the answers to the myriad 'engagement and trust' issues currently perplexing the financial services industry lie in the adoption of smart, intuitive, interactive technology. The benefits to the sector, and to the mass market of largely disengaged consumers across Australia, are many.
Communication
The leaders of finance are more and more becoming leaders of their companies. By no means are CFOs controllers or VPs of finance taking over corporate leadership en masse. But they are increasingly being ... Read moreThe leaders of finance are more and more becoming leaders of their companies. By no means are CFOs, controllers or VPs of finance taking over corporate leadership en masse. But they are increasingly being charged with being a part of that leadership, strategically and tactically. Internally, Finance as a department or group is responsible for the most critical aspects of any firm. Externally, finance is the face of the firm to regulators, lenders, partners and, in many cases, the public at large. In severe economic situations, finance has the responsibility for establishing, managing, or restoring public trust in a firm.
This paper demonstrates how Generation Y prefer and are indeed adopting new styles of interactions in how they engage for services. This is leading to growth and diversity in new channels used to reach ... Read moreThis paper demonstrates how Generation Y prefer, and are indeed adopting, new styles of interactions in how they engage for services. This is leading to growth and diversity in new channels used to reach them, and challenges in how they become integrated into existing channels. The key drivers of this are firstly, the rapid rise of social media, secondly mobility with much greater capacity and device capability, and lastly video which is increasingly becoming the preferred medium. The paper provides five key trends on how communications technology can improve customer service delivered to and through Generation Y.
Payments and Processes
The life and health insurance industry is being transformed by the constant evolution of the internet which is particularly apparent within the affinity distribution model. The web has provided a new ... Read moreThe life and health insurance industry is being transformed by the constant evolution of the internet, which is particularly apparent within the affinity distribution model. The web has provided a new platform for commerce and distribution, enabled more efficient and effective administrative platforms, revolutionised service capabilities and much more.
Insight
The future can be glimpsed in the relatively few organisations that have matured their strategic ability to handle global sourcing. They have converted outsourcing's weak spots - variable quality in relationships ... Read moreThe future can be glimpsed in the relatively few organisations that have matured their strategic ability to handle global sourcing. They have converted outsourcing's weak spots - variable quality in relationships, and little innovation experienced - into opportunities and strengths.
Most companies place priority on strategy over execution even when research clearly shows that execution of strategy actually accounts for 85 per cent of a company's financial results. When it comes to ... Read moreMost companies place priority on strategy over execution even when research clearly shows that execution of strategy actually accounts for 85 per cent of a company's financial results. When it comes to execution, it's not a matter of what, but rather who executes your strategy? Obviously, it's your workforce. Therefore, the critical driver for performance lies in your ability to put the right talent in the right positions, and then aligning the workforce to your strategy. With all of these pieces in place, it is then possible to realise the potential value of your strategy.
Banking
Payments have been evolving for hundreds of years. From the age-old bartering system to cash to check to electronic forms of payments people have found innovative and more efficient ways to make a payment. Read morePayments have been evolving for hundreds of years. From the age-old bartering system, to cash, to check to electronic forms of payments, people have found innovative and more efficient ways to make a payment. This evolution has resulted in a significant shift in the current mix of consumer payments: from primarily paper-based (cash or checque) to increasingly electronic (e.g. credit, debit and pre-paid) payment methods. The rate of change and the movement to electronic payments has been accelerated by the explosive growth of payments being made in non face-to-face transactions. A key development in the industry was the emergence of the Internet as a channel for commerce. Consumers who previously used the Internet as a novelty and a means for information gathering have gradually adopted this channel for their purchase decisions and transactions. United States online retail reached $175 billion in 2007 and will grow to $335 billion by 20121.
Most banks are still in the very early stages of Web 2.0 adoption so Web 3.0 seems far away. But only 15 years ago internet banking was almost nonexistent yet today over 50 per cent of people in many ... Read moreMost banks are still in the very early stages of Web 2.0 adoption so Web 3.0 seems far away. But only 15 years ago, internet banking was almost nonexistent yet today over 50 per cent of people in many developed countries use it. Admittedly there is still a long way to go from a technological and consumer perspective, never mind the conservative nature of many banks. Another key aspect is that most banks still think "product" and are heavily reliant on legacy systems rather than engaging with - and truly communicating - with their customers. Web 2.0 can be an excellent tool to facilitate this much needed interaction with and between customers. Or as Ian Davis points out very well on his blog, 'Web 2.0 is an attitude not a technology. It is about enabling and encouraging participation through open applications and services'
Investment & Securities
Australia's pension system (superannuation) is one of the world's most innovative and serves as a model to nations across the globe. The government recognised early on its demographic challenge and sought ... Read moreAustralia's pension system (superannuation) is one of the world's most innovative and serves as a model to nations across the globe. The government recognised early on its demographic challenge and sought to build a system that would ensure a smooth transition for its ageing population. Figure 1 presents old-age dependency ratios - the ratio of those 65 years old and older to those in the 15 to 64 year old range - for nine countries across the region. Australia is in a better position than its regional peers, but it faces a severe test in the coming decades. Superannuation is an important response to this challenge and is described in more detail below.
Recent concessions from the regulator regarding the provision of limited advice and the SOA exemption for small value investments (less than $15000) has ignited a sleeping giant among financial services ... Read moreRecent concessions from the regulator regarding the provision of limited advice and the SOA exemption for small value investments (less than $15,000) has ignited a sleeping giant among financial services organisations. Many are starting to now turn their attention to the millions of Australians aged between 35 and 55 (accumulators) who have been largely ignored by the wealth management divisions within these organisations. However, before these institutions can tap into this rich new vein of product sales to the accumulator market, they have to overcome the cost, reward and time challenges associated with operating in a vast market place at high cost and with low value transactions on a per client basis. If you immediately thought that the answer to this challenge is the web, you would be partly correct. It also requires an integrated, scaleable advice technology platform that reflects a deep understanding of the real financial planning process.
If we look around us it is pretty clear that the day and age of the global economy has arrived. Businesses are looking to transcend international and trade barriers in search of new markets for their ... Read moreIf we look around us, it is pretty clear that the day and age of the global economy has arrived. Businesses are looking to transcend international and trade barriers in search of new markets for their products and services. Economies of scale are drawing businesses into the global business ecosystem due to cheaper raw materials, more cost-effective resources and new business partners. However, to really thrive in this global economy, businesses have to face a whole new set of macroeconomic conditions such as increasing regulatory compliance, stiffer competition, a variety of consumer channels demanding higher levels of service, shrinking product lifecycles and faster time-to-value resulting from mergers and acquisitions. Overcoming the challenges presented by these conditions requires the modern enterprise to continuously improve business agility in order to achieve its corporate goals. Enterprises are realising that access to critical business information at the right time is crucial for maintaining competitive advantage. However, the ongoing explosion and fragmentation of data across the enterprise and beyond complicates the situation.
Capital Markets
Equity options are becoming increasingly popular with both retail and institutional investors. The volume of trading in the US equity and index options markets has increased by approximately 40 per cent ... Read moreEquity options are becoming increasingly popular with both retail and institutional investors. The volume of trading in the US equity and index options markets has increased by approximately 40 per cent annually for the past four years, as shown in Figure 1 below, and it is expected to continue growing at these rates for the foreseeable future. There are over 3,500 equity and index assets on which options are written. For each underlying asset there are both 'puts' and 'calls' at multiple 'strike' prices and multiple expiration dates, for a total of nearly 200,000 listed options that need to be analysed and acted upon. These options are quoted with an aggregate of over 400,000 updates per second and growing. Thus there is an incredible need for financial firms to get better at managing the data or risk that enters into an unprofitable strategy. Once investors have formulated a trading strategy, their next decision is to choose the most cost-effective alternatives in order to implement it. The profitability of their strategy depends on it.
Communications
In today's increasingly tight financial environment imagine having to report to your chief executive officer or board that the six-figure sum spent to reduce customer churn actually increased it or that ... Read moreIn today's increasingly tight financial environment, imagine having to report to your chief executive officer or board that the six-figure sum spent to reduce customer churn actually increased it or that half the direct marketing budget was totally wasted. Not a scenario that anyone would welcome but one that goes on continually in financial services organisations and most of the time, the organisation has no idea of the 'levers' behind such undesirable results. However, a revolutionary analytical approach called uplift modelling can provide true insight into direct marketing targeting to reduce budget spend, communicate with fewer customers but deliver a greater revenue result. Combine this with 'individualisation' strategies that intelligently provide more relevant messages at each and every customer interaction point and cross-sell and upsell rates skyrocket.
Payments and Processes
Smart card-enabled applications are becoming more prevalent in many of today's businesses. The financial payments industry has moved to smart cards. The majority of the regional financial organisations ... Read moreSmart card-enabled applications are becoming more prevalent in many of today's businesses. The financial payments industry has moved to smart cards. The majority of the regional financial organisations worldwide have mandated that financial credit and debit cards must be smart card-enabled by a specified date. Plus, there has been rapid acceptance of contactless smart card technology for fast, convenient and secure credit and debit payment. For example, the Department of State in the US uses contactless smart card technology for the electronic passport. Smart card-based identity credentials are now being issued to all Federal government employees to meet Homeland Security Presidential Directive 12. Enterprises are issuing smart ID badges to employees to secure physical and logical access. Plus, many government identity programs around the world are issuing smart card-based identity credentials to citizens.
Insight
CIOs need to deliver more IT capabilities and enable their companies to capitalize on new market opportunities - and to do it faster than ever before. For too many CIOs system maintenance is the proverbial ... Read moreCIOs need to deliver more IT capabilities and enable their companies to capitalize on new market opportunities - and to do it faster than ever before. For too many CIOs, system maintenance is the proverbial ball and chain, requiring 80 percent of IT's time and consuming 60 per cent of their IT budget1. Even though they are under increasing pressure to deliver more capabilities to the business in shorter development timeframes, CIOs are often shackled by legacy application portfolios characterised by inflexibility and inefficiency. As a result, IT simply has too little time to spend on delivering solutions that foster innovation. Business becomes frustrated with IT, and understandably so. Given this reality, it's no surprise that the top priority of CIOs continues to be aligning IT and business goals, followed by increasing business value from IT investment.
The Symantec Report on the Underground Economy is a survey of cybercrime activity in the underground economy. It includes a discussion of some of the more notable groups involved as well as an examination ... Read moreThe Symantec Report on the Underground Economy is a survey of cybercrime activity in the underground economy. It includes a discussion of some of the more notable groups involved, as well as an examination of some of the major advertisers and the most popular goods and services available. It also includes an overview of the servers and channels that have been identified as hosts for trading, and a snapshot of software piracy using a file-sharing protocol in the public domain. This report is meant to be an analysis of certain aspects of the underground economy and is not meant to encompass a survey of Internet cybercrime as a whole. For the underground economy servers observed by Symantec, the period of observation was between July 1, 2007 and June 30, 2008. The software piracy observed by Symantec occurred over a three-month period between July and September, 2008. All prices are in US dollars unless otherwise noted. Also, due to rounding, per centages given may not total exactly 100 per cent.
Banking
Is there a silver lining to the 'event cloud' that threatens to overshadow the effectiveness of banks in servicing their customers? In this white paper the inventor of Complex Event Processing (CEP) ... Read moreIs there a silver lining to the 'event cloud' that threatens to overshadow the effectiveness of banks in servicing their customers? In this white paper, the inventor of Complex Event Processing (CEP), tackles the dilemma that confronts today's multi-product and multi-region banks: making sense of the multitudes of information they receive from their clients. As the author points out, the financial services industry is just about as information intensive as it gets and everything is event driven. The challenge is to build an IT infrastructure that will allow the financial services provider to organise data in an orderly fashion when in the business arena, information comes in a disorganised manner and from unconnected channels. In this white paper, the author shows how CEP can help organisations in the financial services industry detect patterns of events in the IT layers of the enterprise and predict how they will impact high level business goals, policies and processes.
Using a complex event processing platform Progress Apama as an illustration the author gives a step-by-step guide on how to convert events that appear to happen in a "blur" into sharp focus. For example ... Read moreUsing a complex event processing platform Progress Apama as an illustration, the author gives a step-by-step guide on how to convert events that appear to happen in a "blur" into sharp focus. For example, this white paper highlights different types of information - voluminous, granular, swiftly-arriving and rapidly-changing - all of which contrasts with data familiar to traditional business applications. The author stresses that often, new market opportunities are available only to those that first detect the changing circumstances. More importantly, a good CEP infrastructure enables financial services providers to sense system threats or fraudulent activity well before any damage, or much damage, is done to the company's profits or client database.
This paper draws on the experience gathered from years of working closely with banks and the current trends to combat phishing and online fraud threats. It details the renewed emphasis that strong authentication ... Read moreThis paper draws on the experience gathered from years of working closely with banks and the current trends to combat phishing and online fraud threats. It details the renewed emphasis that strong authentication is not enough but a form of transaction authentication is needed. It makes a call to make the user more aware of the security process asked to perform a specific action and the concept of security process ergonomics. It details some aspects of the important decisions banks need to make when considering the use of anti phishing and anti fraud techniques across different interaction channels such as web, call centre, IVR and branch.
Investments & Security
In this paper the author concludes that in order to succeed in the retail direct guided advice market financial services organisations will need to take the responsibility for accessing this market ... Read moreIn this paper, the author concludes that in order to succeed in the retail direct, guided advice market, financial services organisations will need to: take the responsibility for accessing this market away from existing wealth management divisions; invest in scaleable, web-based guided advice platforms; adopt a systematised financial planning process as the centerpiece of this platform; and use call centre and webinar technology to deploy this guided advice service to the accumulators. If implemented well, in the long term, an online guided advice platform for DIY users will expand the market for one-on-one advice delivered by financial planners.
Capital Markets
The fixed income market has undergone dramatic changes and has become increasingly electronic. Currently electronic trading represents 57 per cent of the US fixed income market nearly double 2003 levels. Read moreThe fixed income market has undergone dramatic changes and has become increasingly electronic. Currently, electronic trading represents 57 per cent of the US fixed income market, nearly double 2003 levels. The development of electronic trading occurred particularly in the most liquid fixed income segments, which are US treasury and mortgage-based securities (MBS). Currently, electronic trading represents nearly 80 per cent of the treasury segment and 32 per cent of MBS. This paper, which is an extract of a comprehensive report available through Celent, analyses the new market trends in electronic US fixed income and makes projections about future e-bond trading
Data security is fast becoming one of the biggest IT challenges facing organisations large and small. While organisations invest to protect the network perimeter from external attacks one area has until ... Read moreData security is fast becoming one of the biggest IT challenges facing organisations large and small. While organisations invest to protect the network perimeter from external attacks, one area has until now been relatively neglected: the security of an organisation's backup, recovery and archive processes. However, a series of new regulations and a spate of high profile backup tape losses are finally changing that: organisations are being forced to re-evaluate how they effectively secure their backup data. This paper offers an overview of how to address backup security in a comprehensive fashion, outlining the key building blocks of a backup security implementation, and offering best practices guidance for each of these areas.
Communication
Unlike Web 1.0 the internet is no longer considered a tool meant only for remote communication. Web 2.0 has become the platform for user-centric applications with a community appeal and the possibility ... Read moreUnlike Web 1.0, the internet is no longer considered a tool meant only for remote communication. Web 2.0 has become the platform for user-centric applications with a community appeal and the possibility of integrating various sources of information to improve user experience. In this paper, the author explores how wealth management companies can use Web 2.0 to become more responsive to their customer's needs and to communicate with people using popular online social networking channels. The author describes various Web 2.0 technologies including RSS, CSS and wikis. Finally, the author uses a case study to illustrate how Web 2.0 can be used to update customer profiles in real-time, improve a company's online visual presence and complete a trading transaction.
How can you manage something you can't easily detect? In this paper the author explores the challenges posed by "invisible" data leakage. The issue goes beyond outside parties gaining access to private ... Read moreHow can you manage something you can't easily detect? In this paper, the author explores the challenges posed by "invisible" data leakage. The issue goes beyond outside parties gaining access to private client information but also the company's other business-critical information. Depending on a company's security system, its intellectual property, merger and acquisition plans and product launch dates could be vulnerable to a data breach. This paper highlights the cost of data leakage, how the leakage occurs and the solutions. It singles out so-called "unintentional" leakage where the growing use of USB devices and iPods create gaping holes in a company's security infrastructure through which data could easily seep to the outside. Finally, the author also dispels five of the most common myths about data protection. It concludes that senior managers involved in business risk need to work closely with the IT department to prevent costly data leakage.
Payments & Processes
In a rapidly evolving business world there may be some people who want to increase the number of hours in a day but many more believe 24 hours is far too long for payment processing. Why how and when ... Read moreIn a rapidly evolving business world, there may be some people who want to increase the number of hours in a day, but many more believe 24 hours is far too long for payment processing. Why, how and when banks can reduce the time it takes is the focus of this report. Real-time payments processing moves a bank from overnight batch processing to automatically transferring payments as they are keyed into the system - a workflow process that brings electronic payments into synch with the rest of the world's computerised business activities. Many banks have been reluctant to change because of the proven safety and reliability of the traditional systems they use in the day-to-day execution of core payments activity. However, there are now modern standards-based software systems that provide stable and reliable technology they need to support a safe and orderly upgrade to real-time payments
The payments market is going through stormy times. The vast amount of regulatory changes occurring in Europe and the US require faster and more real-time payment processing. Competition is increasing by ... Read moreThe payments market is going through stormy times. The vast amount of regulatory changes occurring in Europe and the US require faster and more real-time payment processing. Competition is increasing by innovative payment offerings and new modes of business models, while clients are asking for reduced costs and strict SLA compliance. These trends are forcing specialisation by means of global transaction banks and consolidation of execution by using out-sourcing, in-sourcing and white-labeling. This report explores the concept of single payment architecture (SPA), or payments hub, which provide a centralised payment factory capability for a wholesale financial institution using state-of-the art technology and a service oriented architecture. At the end of this paper, the reader will have a very solid know-how of the SPA concept and be able to project this into a real-world example.
Insight
According to research data from IDC a company's IT department is one of the largest consumers of power within the organisation. IDC also predicts IT energy expenditure will increase by over 50 per cent ... Read moreAccording to research data from IDC, a company's IT department is one of the largest consumers of power within the organisation. IDC also predicts IT energy expenditure will increase by over 50 per cent in the next few years. Against this backdrop, Fujitsu suggests five ongoing steps to make a company's IT operations leaner and greener. The author also notes that organisations should develop a sustainability strategy based on their assessment of risks and opportunities. This strategy should be aligned with corporate strategy and endorsed by executives. The strategy should also consider the boundaries and scope of the organisations' responsibilities, brand strategy, leadership opportunities and shareholder value. The paper concludes that through internal activities, partnerships and community engagements, a company can address climate change in meaningful and practical ways.
Banking
This white paper tackles two of the biggest challenges ever to face the banking industry today shrinking market share due to the rise of nonbanks and the commoditisation of banking products. The authors ... Read moreThis white paper tackles two of the biggest challenges ever to face the banking industry today: shrinking market share due to the rise of nonbanks and the commoditisation of banking products. The authors called the changes to the banking landscape as a wakeup call to senior banking executives, arguing that technology will be a critical element to their success. To illustrate how IBM addresses these primary concerns, the white paper highlights case studies of how IBM can transform a company's core banking system, detailing improvements in cost/income ratios and, in one case, cutting product development cycle from 64 days to less than one day. The authors also outline other banking growth drivers such as customer-centricity, globalisation, regulation and how to tap into specific consumer segments, particularly the so-called "unbanked and underbanked".
This white paper looks at the financial costs of poor data quality the potential compliance risks and ways to improve the accuracy of a financial company's database. For example the 20 per cent data ... Read moreThis white paper looks at the financial costs of poor data quality, the potential compliance risks and ways to improve the accuracy of a financial company's database. For example, the 20 per cent data inaccuracy accepted by most Australian companies can seriously dent the bottomline. Experian estimates one item of mail that is returned to sender costs between $14 and $25, a multiple of the cost of a postage stamp. Inaccurate data also increases the risk of fraud and bad debt. However, by verifying new customers' address details as they are entered into the database, a company can minimise ID fraud risk and reduce the cost of meeting Anti-Money Laundering (AML) legislative requirements.
Investments and Securities
This white paper reports on the technology providers that are rising to the challenge of fund managers demanding top of the line multi-portfolio systems particularly those that can handle derivatives ... Read moreThis white paper reports on the technology providers that are rising to the challenge of fund managers demanding top of the line multi-portfolio systems, particularly those that can handle derivatives and other alternative investments. Valentine published this paper in the midst of the sub-prime mortgage crisis, making it a well-timed research by accounting for an environment that is going through a massive review of investment risks. Broadly speaking, Valentine explained how the build up in over-the-counter (OTC) derivative instruments is changing the development queue for portfolio systems. Multiasset portfolio systems - those able to process all types of assets, including non-listed exotic instruments - are attracting the interest of buy-side firms. In a nutshell, this white paper gives a comprehensive overview of the derivatives market and highlights the technology vendors that can service the new funds management landscape.
This white paper focuses on straight through processing (STP) for the buy-side financial industry. It draws up a framework for the STP business case and introduces definitions of different graduations ... Read moreThis white paper focuses on straight through processing (STP) for the buy-side financial industry. It draws up a framework for the STP business case and introduces definitions of different graduations of STP in this industry segment. Nordgard challenges the rationale behind the traditional view of STP as a way of efficiently moving data from one part of the organisation to another. At present, there is a backwards approach to STP and that real STP can never be achieved by a "topdown" approach. Rather, the only way to achieve true STP is to take a "bottom up" approach, i.e. to ensure that the data consistency is intact throughout the entire fund management operation. Nordgard's white paper highlights an STP approach that requires a shift away from departmental thinking and towards a holistic view of the fund management operation.
Capital Markets
Often touted in the press as the most significant financial regulatory change to impact Europe in recent times the Markets in Financial Instruments Directive (MiFID) inevitably requires a response. For ... Read moreOften touted in the press as the most significant financial regulatory change to impact Europe in recent times, the Markets in Financial Instruments Directive (MiFID) inevitably requires a response. For the buy side, MiFID mainly pertains to harmonisation and transparency. In this white paper, it is interpreted in terms of best execution; how it is audited and proven. MiFID makes best execution a regulatory mandate. However, most would agree that the drive to achieve best execution is not new. MiFID's requirements are an extension of the Financial Services Authority's (FSA) existing guidelines for fund managers in relation to trade processes, portfolio management and principles. While MiFID is directly relevant to European fund managers, it also has serious ramifications in Australia, where local institutions and fund managers are increasing their allocation to European investments. This paper outlines the steps that can help fund managers address and understand the new regulation.
Payments and Processes
Australian banks are being driven to focus on their payment infrastructure and business model from increasing regulatory and compliance requirements security threats and changing consumer behaviour and ... Read moreAustralian banks are being driven to focus on their payment infrastructure and business model from increasing regulatory and compliance requirements, security threats, and changing consumer behaviour and preferences. Increased competition is also being created by non-bank entrants such as major retailers, Google, Paypal and new mobile commerce based entrants. These changes and pressures require a transparent and accurate view of a bank's payment business. This white paper provides insight into current payments business issues including: Forces driving changes in the worldwide payments market. What executives must know about their payments business. Solutions to gain visibility into the payments business. Benefits of clarity in the payments business. An action plan to improve the payments business bottom line.
Communication
Mobile telecommunications is one of the fastest growing and most interesting markets in the world. According to ZDNet research there are four billion mobile subscribers around the world. In Australia ... Read moreMobile telecommunications is one of the fastest growing and most interesting markets in the world. According to ZDNet research, there are four billion mobile subscribers around the world. In Australia, mobile telecommunications contribute $8.77 billion annually to the Australian economy. What does this mean? This white paper explores how consumers will communicate with their banks which will drastically change in three years' time. By year 2010, people will be able to withdraw cash without any card and use their mobile phone instead. The author suggests there will be a complete paradigm shift in day-to-day activities, including banking. By 2010, people will be able to perform all banking transactions (funds transfer - individual or 3rd party) online trading, cash withdrawal from ATM, online transactions through mobile phones. More radically, plastic cards (credit, debit, ATM) will cease to exist physically but used through mobile phones.
The personal computer revolution is far from over but enterprises are rightfully questioning the high maintenance costs endless replacement cycles and security vulnerabilities that plague the standard ... Read moreThe personal computer revolution is far from over, but enterprises are rightfully questioning the high maintenance costs, endless replacement cycles and security vulnerabilities that plague the standard networked PC. A breakthrough in thin computing now promises to end the PC monopoly on the desktop while giving users improved access to their favorite productivity applications. Called Enterprise Desktop Virtualisation, or EDV, this solution combines all of the performance, reliability of support benefits of the latest thin client workstations from Wyse Technology, a provider of thin computing systems, with virtualisation software from VMware running on centralised servers. The EDV alternative to PCs and conventional PC networks is explored in depth in this white paper.
Insight
While the added security of voice biometrics has made it a natural fit for the banking industry with current fears around fraud and identity theft little coverage has been given to its applicability in ... Read moreWhile the added security of voice biometrics has made it a natural fit for the banking industry with current fears around fraud and identity theft, little coverage has been given to its applicability in other areas of the financial services industry. Several UK wealth management providers are considering the use of voice biometrics as a means of providing differentiated service to their customers. While the enhanced security of voice biometrics is clear, what is often ignored is the extra convenience the technology can provide to callers. This paper introduces the concept of biometrics and its applications in the financial services industry. A follow-up report also looks at how the technology can be used to support a company's efforts to comply with the new Anti-Money Laundering and Counter- Terrorism Financing (AML/CTF) Act.
While the added security of voice biometrics has made it a natural fit for the banking industry with current fears around fraud and identity theft little coverage has been given to its applicability in ... Read moreWhile the added security of voice biometrics has made it a natural fit for the banking industry with current fears around fraud and identity theft, little coverage has been given to its applicability in other areas of the financial services industry. Several UK wealth management providers are considering the use of voice biometrics as a means of providing differentiated service to their customers. While the enhanced security of voice biometrics is clear, what is often ignored is the extra convenience the technology can provide to callers. This paper introduces the concept of biometrics and its applications in the financial services industry. A follow-up report also looks at how the technology can be used to support a company's efforts to comply with the new Anti-Money Laundering and Counter- Terrorism Financing (AML/CTF) Act.
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