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Fiscal Responsibility and Public Finances (6th in the series)

What if the world ran on new classes of digital currency that are inflation resistant, create price stability, discourage bubbles and deflationary spirals? What if they could protect citizen’s savings without reducing liquidity when they save rather than spend? This blog series examines issues and possibilities in the changing banking …

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Dead Accounts, Dead Money and Hoarding (5th in the series)

What if the world ran on new classes of digital currency that are inflation resistant, create price stability, discourage bubbles and deflationary spirals? What if they could protect citizen’s savings without reducing liquidity when they save rather than spend? This blog series examines issues and possibilities in the changing banking …

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Chasing the Highest Return (4th in the series)

What if the world ran on new classes of digital currency that are inflation resistant, create price stability, discourage bubbles and deflationary spirals? What if they could protect citizen’s savings without reducing liquidity when they save rather than spend? This blog series examines issues and possibilities in the changing banking …

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Inflation Resistant Currency (3rd in the series)

What if the world ran on new classes of digital currency that are inflation resistant, create price stability, discourage bubbles and deflationary spirals? What if they could protect citizen’s savings without reducing liquidity when they save rather than spend? This blog series examines issues and possibilities in the changing banking …

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Money That Pays You Interest (2nd in the series)

What if the world ran on new classes of digital currency that are inflation resistant, create price stability, discourage bubbles and deflationary spirals? What if they could protect citizen’s savings without reducing liquidity when they save rather than spend? This blog series examines issues and possibilities in the changing banking …

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The Future of Money is the Future (1st in the series)

What if the world ran on new classes of digital currency that are inflation resistant, create price stability, discourage bubbles and deflationary spirals? What if they could protect citizen’s savings without reducing liquidity when they save rather than spend? This blog series examines issues and possibilities in the changing banking …

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Standardization and Transparency Key to IFRS 9 Success

In 2014, the International Accounting Standards Board (IASB) issued its IFRS 9 Financial Instruments standards to replace IAS 39 and create a single approach to measuring and classifying a bank’s financial instruments. Banks and financial institutions were given four years to modify their systems and comply with these new standards …

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Big Data’s Three Big Trends of 2016

Last year at Sibos, I talked in depth about some of the key learnings from Big Data projects. At the time, the industry was still getting to grips with the era of data and what that meant for the business of banks. A year on, we are still in a …

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To Blockchain or Not To Blockchain

Just about every call I get from a bank lately seems to ask, “What should we be doing about blockchain?” It depends who’s asking. Traditional banks should be doing one thing, whilst fintechs another. Beyond the hype, there are really only two fundamental aspects to consider – the business case …

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Digital Compliance, only superheroes need apply

Compliance is big business. The four big UK banks have paid out $75 billion in penalties by August 2015 and 20 global banks paying out $235 billion since the financial crash. Compliance officers are in great demand and the scope of a digital compliance manager demanded by a major bank …

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Cybercrime is flourishing: Time for action

It is very clear from the figures released by the various fraud prevention agencies that there is a dramatic increase in cybercrime and real-time fraud. Should the losses continue to persist at the current growth rate, the financial services industry is in for torrid times? Ultimately, it is the attitudes …

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Blockchains, and Cybercrime and APIs! Oh my!

With digital innovation comes cybercrime and responsibilities. SWIFT and the Bangladesh Central Bank lost of $80 million demonstrating this coupled with SWIFT further emphasis ‘we cannot secure our customers’ environments and cannot assume responsibility for that’. The mind-set of ‘if it ain’t broke don’t fix it’ has to go along …

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How Digitization Aids In Better Functioning Of Banking Sector

Entrepreneurs have started investing in digital platform with aplomb. Now, where there is cash flow you just cannot take out banks from the picture. Banks are the entity which invokes confidence for the consumers to carry on with their online transactions. Digital platform works as a no-interference module. Consumers can …

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Benefits of Blockchain Technology for Fund Transfers

In the digital age, the world of money transfer and banking has changed little, while entire industries around them have either been transformed, or have crumbled. Nadine Hoffmann, Global Head of Payments, SAP SE and Raimund Gross, Innovation Manager & Futurist, SAP rightly suggests that “Blockchain is the next frontier …

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Confusion surrounds the features of program RBCA_CN_BKK92_INSERT_PP

Hi All, I am creating this document to resolve some questions about the report RBCA_CN_BKK92_INSERT_PP and settlements in general; I saw some confusion surrounds the features of this report, especially when the users must move settlements from legacy systems to SAP. The focus is on the fields BCA_CN_ACBAL-INT_CALC_START and BCA_CN_EVENT-EVENT …

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Sap Accounts Payable Reconciliation using Bank Swift File

Introduction:         In Sap Accounts Payable Module contains Vendor Payments/Supplier Payments, which is done in SAP R/3 Environment, Most of clients wants to know to integrate Customer R/3 System to Bank System to Avoid Manual work and Paper less Payments using Automated way. How to Integrate  Customer R/3 System and …

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SAP Account Receivables Reconciliation Automated using Swift File

SAP Account Receivables Reconciliation: This can be done via 3 Types as follows,                     1. FIFO Basis                     2. Billing Document Number Basis                     3. On Account Entry                           Business Requirement:             Customer need to use MT942 and MT940 files in same day to post AR Entry and it should be …

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Stopping Cybercrime Before It Strikes

Hackers holding banks, companies and individuals’ information to ransom sounds like a Hollywood plot, but it’s very real.  Ransomware – malicious software that encrypts data on internal computer systems, holding information hostage until a ransom is received for a decryption key – is the latest form of cybercrime. In the …

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Blockchain is the supreme friend of data management

Blockchain contains what everyone in data management, from data scientist to chief data officer (CDO), wants: Information that comes with complete provenance. That is data showing who did what, when and with full history from day one. Verified by many third parties, transparent, with complete reconciliation and secured by the …

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How To Close The Digital Lending Gap

Your cash cow is hungry! Fintech start-ups and digital innovators are eating away at your lending business with their digital agility, lower costs, and ease of customer interaction. Despite lending’s historical reputation as the golden goose for driving revenue and profits, the vast majority of banks still have very low …

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Blockchain: The Good, The Bad, and The Business Case

For a relatively nascent technology, blockchain – the shared ledger or shared database technology allowing any participant in a business network to see the system of record – seems to be everywhere. Well, verbally everywhere. Earlier this month, I participated in a Digital Leaders TV discussion on this very topic. …

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