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This week’s NACHA vote in favor of mandatory rules changes enabling same-day ACH settlement is no surprise. Some of the press coverage suggests this represents some sort of significant achievement. Really? By March 2018 (when the network is currently expected to be able to fully support systemwide changes) I predict there will be industrywide consensus […]

May 22nd, 2015 | Filed under Banking, Corporate Banking, Retail Banking

As many of you know, I’ve been on something of a world tour, which started with Nacha Payments in New Orleans in mid-April. Expect a flurry of blogs as I pass on my impressions from my travels, starting with the Nacha show. Whilst I may live in London, I have global coverage. Payments is an […]

May 20th, 2015 | Filed under Banking, Corporate Banking, Retail Banking

Monday was the UK bank holiday, so some of us just came back to work after a long weekend. Many across the country used the extra time to do a bit of spring cleaning. I also found myself rummaging through some old materials and came across an interesting paper on how financial markets might look […]

May 5th, 2015 | Filed under Banking

It struck me while I was driving this morning: First-gen mobile apps are fine, but virtually everyone is missing high-volume opportunities to engage with their customers. Allow me to back up a step. I was stuck in traffic. Not surprisingly, that gave me some time to ponder my driving experience. I found myself thinking: Why […]

Apr 30th, 2015 | Filed under Banking

As analysts, we are often asked to predict the future. It’s a fun part of the job, and leads to some interesting conversations. Whilst we rarely are retrospectively scored on our accuracy, I suspect most analysts, myself included, keep a mental tally. The acquisition of Fundtech by D+H for $1.25bn is something of a tick […]

Apr 29th, 2015 | Filed under Banking, Corporate Banking, Retail Banking

Celent recently released the report On the Margins: A Comparison of Banks and Credit Unions by Asset Tier, where community institutions of the same size are compared across a number of performance metrics, mainly efficiency ratio. One of the most interesting findings is that credit unions are becoming less efficient at a faster rate than […]

Apr 27th, 2015 | Filed under Banking, Retail Banking

*As mentioned in an earlier blog, the persistence of the “branch is dead” debate seems to be to betray the deeply invested interests on each side of the debate. In many financial institutions, digital and physical channels still have separate reporting structures (Figure 1). In Celent’s October 2014 survey of North American financial institutions, we […]

Apr 23rd, 2015 | Filed under Banking, Retail Banking

One of the great advantages of being a Celent analyst is that we’re able to look at banking advances around the world and share what we learn with our clients and readers. This week I’d like to focus on a few interesting developments in the United Kingdom. The unifying theme this time around is innovation […]

Apr 21st, 2015 | Filed under Banking, Retail Banking

There have been a few mainstream press mentions of e-invoicing and invoice financing over the last few weeks. For many readers not closely following the space, I suspect this will be the first thing they’ve really seen about the topic. Some of the numbers quoted in the articles have been eye catching – a trillion […]

Apr 15th, 2015 | Filed under Banking, Corporate Banking

A couple of weeks ago, Facebook announced it would bring P2P payments to its Messenger platform for customers in the US. According to a Finextra article: “To send money through the free new feature, users start a message with a friend, tap a ‘$’ icon, enter an amount, and then hit the pay button. The […]

Apr 2nd, 2015 | Filed under Banking, Retail Banking