Considerations for firms thinking of using third-party technology (off-the-shelf) banking solutions

The FCA has published a set of guidelines for firms wanting to outsource any or all of their operations. Aimed at Financial Institutions, the guidelines don’t prescribe a particular procurement methodology but does highlight the FCA’s concerns when firms outsource to untried and tested partners. The guidelines reflect the FCA’s concern that outsourcing doesn’t mean …
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SWIFT Bureaux Revolution in the UK

With the announcement last week by Bottomline of it’s acquisition of Simplex, it concludes a quiet revolution in the SWIFT Bureaux market in the UK. Bottomline’s purchase of SMA and now Simplex (read more here) and Fundtech’s purchases of Synergy, Bankserv and BPP means the UK SWIFT Bureaux market is down to a choice between Bottomline, SWIFT or Fundtech.  …
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Bacs Approved Software Suppliers (BASS)

The Bacs web site contains a comprehensive list of the Bacs Approved Software Suppliers. That is products that have passed the stringent BASS approval proceess to gain the coveted BASS badge.  Most of these companies offer a BASS product to complement other products in their portfoilio, most commonly DD products. If you are in the market …
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Mobile Payments and Business

The Payments Council revealed yesterday that the Mobile Payments service they are building with VocaLink will also target corporate customers: Corporates will be able to send out payment requests to customers as a type of template and the payee will be able to respond with a pay or don’t pay. Corporates will be also be …
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SWIFT

The marketing people are at it again; SWIFT in the cloud – hasn’t it always been a cloud- based service? I looked on Wikipedia for the definition of ‘In the Cloud’ and it states ‘Cloud computing is the delivery of computing as a service rather than a product, whereby shared resources, software, and information are …
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What is SEPA?

It was recently agreed by the European Parliament to set an end date for SEPA implementation; read the press release. SEPA is the initiative for the European Financial Infrastructure governed by the European Parliament to create a Eurozone in which all payments are considered domestic and where there is no difference between national and intra-European cross-border …
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HMRC-RTI Project

HMRC have announced that the RTI project is mandatory for all companies in the UK.  This means that every payroll software supplier, accounting software supplier and Bacs software supplier will need to update their software to be compliant with HMRC-RTI. How does HMRC-RTI affect you? The HMRC have launched a project called HMRC-RTI which aims …
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