Global payments revenues fell at a compound annual rate of 7% from year end 2008 through 2010, according to US-based management consultancy Boston Consulting Group’s 10th annual payments survey, Global Payments 2011: Winning After the Storm. This decline in revenues came despite increases in overall volumes (up 5%) and values (+3%) during the same period. [...]
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First announced toward the end of Sibos 2008 in Vienna, Swift’s partnership with the reinsurance industry marks a further extension of the co-operative’s reach beyond the banking industry. A pilot involving three reinsurers – Swiss Re, Munich Re, and Scor – and two brokers – Aon Benfield and Willis, is scheduled to begin in May. [...]
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Among the stories covered last month by the Banking Technology team for our Sibos Daily News sibling was the French Banking Federation’s reaction to a statement by the European Commission and the European Central Bank in early September, saying they would only support the idea of a multilateral interchange fee for Sepa direct debits for [...]
Filed under: Payments, regulation, Sibos | 5 Comments »
There was something a little surreal about this year’s Sibos. While the banking sector’s woes and the demise of Lehman Brothers were on everyone’s mind, it was almost business as usual on the exhibition floor, as vendors announced new products and banks plugged their services, with no shortage of champagne and canapes. The two bankers [...]
Filed under: Credit Crunch, regulation, Sibos | No Comments »
