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A new report on one of the hottest subjects in financial services technology

The Business Case for Cloud Computing in Financial Services is the first comprehensive, in-depth examination of a potentially transformational new technology that could make a deep impact on operational efficiency and profitability. The report will cover the following topics:

The state of the art and science of cloud computing
The data centre
Cloud technology requirements
The integration of social media
Cloud computing in financial services
Data centre and cloud technologies in financial services
Cloud computing in financial trading
Cloud computing in payment processing
Cloud computing in mobile banking
Future directions

Written by Dr. Rao Mikkilineni, who has over 30 years of experience in delivering software, hardware and services  and currently speciaises in cloud computing, The Business Case for Cloud Computing in Financial Services will be published in June 2012.

To reserve your copy at a pre-publication discount price of £1,000/$1,637/€1,129, contact us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it ; tel +44 (0) 7885 441682




The Business Case for Cloud Computing in Financial Services
 
by Rao Mikkilineni
 
Introduction
The State of the Art and Science of Cloud Computing

The Data Center

The Cloud Technology Requirements

The Integration of Social Media
How Is Cloud Computing Relevant to Financial Services – Benefits and Shortcomings
State of the Art and Science of Data Center and Cloud Technologies in Financial Services:
Requirements
Agility
Security
Customer Intimacy
Regulatory Compliance
Availability and Disaster Recovery
Performance
Cloud Computing in Financial Trading:
Cloud Computing in Financial Payment Processing Solutions:
Cloud Computing in Mobile Banking Services
Future Directions
 
Dr. Rao has over 30 years of experience in both Telecommunications and IT industries. He has held research and senior management positions at AT&T Bell Labs, Bellcore, US West, Network Programs Inc, SS8 Networks, and LightSand Communications. Most recently, he held the position of Director, storage systems and services engineering at Comstock Systems, which was later merged with Hitachi Data Systems Inc., in USA. Dr. Rao brings a deep knowledge of the storage industry, exceptional technical expertise and a proven track record of success.

His practical experience in applying leading-edge technologies to radically improve productivity and quality of Operations and Management in telephony, IP networking and storage networking provides a unique perspective on the role of enterprise systems and technologies. He has written many papers on application of AI and Expert Systems in network operations & management, object oriented technology and software productivity, Video on Demand services management and new approaches to storage service delivery. Most recently contributed papers on cloud computing, application of virtualization in implementing real-time HA/DR and next generation Busiess Services Fabrics.

More recently he has implemented real-time HA/DR solutions using virtualization, and is exploring infrastructure solutions for private, public and hybrid clouds. He chairs an IEEE international workshop on cloud computing and has contributed several papers on the impact of hardware assisted visrtualization on the future of data centers.
Specialties
Expertise in delivering software, hardware and services in Virtualization, Cloud Computing, Storage Networking, IP networking and Telephony,

Occasionally, teaches Enterprise Security Operations & Management at Golden Gate University, San Francisco
 
 
 
The Cloud Technology Requirements in the Financial Sector
 
Agility
In this section we will discuss agility required in service creation by the developers and the agility required in the delivery platform to meet wildly fluctuating workloads
Security
In this section we discuss various security requirements that cloud platform must satisfy
Customer Intimacy
In this section, we identify the requirements to establish customer intimacy including the social networks
Regulatory Compliance
In this section , we identify the regulatory compliance requirements related to financial services.
Availability and Disaster Recovery
In this section, we identify application aware disaster recovery, availability requirements
Performance
In this section, we identify performance management requirements to meet various service delivery conditions
 
 
Cloud Computing in Financial Trading:
In this section, we identify which requirements are critical for this domain and examine how current cloud computing platforms meet them.
Cloud Computing in Financial Payment Processing Solutions:
In this section, we identify which requirements are critical for this domain and examine how current cloud computing platforms meet them.
 
Cloud Computing in Mobile Banking Services
In this section, we identify which requirements are critical for this domain and examine how current cloud computing platforms meet them.
 
Future Directions
In this section, we will examine the next generation many-core server technology that is drastically altering the computing landscape and discuss its impact on future financial services.
 
A new report on one of the hottest subjects in financial services technology. The Business Case for Cloud Computing in Financial Services is the first comprehensive, in-depth examination of a potentially transformational new technology that could make a deep impact on operational efficiency and profitability. To be published in August 2011, the report will cover the following topics:

The state of the art and science of cloud computing
The data centre
Cloud technology requirements
The integration of social media
Cloud computing in financial services
Data centre and cloud technologies in financial services
Cloud computing in financial trading
Cloud computing in payment processing
Cloud computing in mobile banking
Future directions
New report -  Analysis and forecasts for the worldwide market for mobile payment services, including NFC technology

  • Comprehensive assessment of the  fast-evolving, high-growth mobile payments space
  • Essential insight for mobile commerce stakeholders the world over
  • Covers Google Wallet,  Mobile  Payment Users and Volumes, Near Field Communication (NFC), Mobile Ticketing and Coupons, In-app Payments, Mobile Banking, Regional Trends (including the  UK and US), Key Developments, Case Studies of Key Players, Smartphone Shipments, Mobile  Apps User Base, Mobile Transaction Platforms,  Drivers and Inhibitors, Business Models and much more.
Mobile payment services are one of the most disruptive services presently evolving in the telecoms industry, and have now developed to such an extent that some argue the ever more multi-functional mobile handset could replace the wallet altogether, through cashless and cardless payment systems.

Everyone in the mobile payments ecosystem – mobile network operators, solution vendors, app stores and developers, banks and card issuers, big retailers and other major merchants, handset and device vendors, and consumer associations – are in agreement that the mobile payments space is going to be a big market, but there is currently no consensus on exactly how we are going to get there.

Near Field Communication (NFC) looks strong, but – as with any solution that involves getting the overwhelming majority of the stakeholders within a value chain to work together and cooperate for a major industry change – there are likely to be countless conflicts of interest and endless differing opinions as to how to progress; especially with fantastic opportunities and hundreds of billions of dollars worth of transactions to compete for.

This new market study thoroughly examines the worldwide market for mobile payment services over the following eight fact-filled chapters:
•    Introduction
•    Mobile Commerce
•    Worldwide Mobile Market
•    Worldwide Mobile Money Market (includes: Mobile Payments, NFC, Ticketing and Coupons, In-app Payments, Mobile Banking)
•    Regional Trends (includes: UK and US Case Studies; and Regional Key Developments)
•    Case Studies – Key Players (ViVOtech, Visa, SK Telecom, Square, Ericsson IPX, Bango, and Boku)
•    Summary and Conclusions
•    Appendices (includes: Business Models)

In 2011, there were 158.1 million mobile payment users worldwide, and this number is forecast to break 1 billion by end-2016. Mobile payment volumes, which denote the face value of purchases and transactions through mobile handsets, stood at USD 159.3 billion in 2011 and are projected to comfortably cross USD 1 trillion by end-2016.

While little is certain in the young and rapidly evolving m-payments market, NFC is still likely to become one of the leading global standards in enabling this growth.

While not all mobile subscribers with NFC-capable handsets will be availing mobile payment services – for varying reasons – there will be 129.1 million subscribers worldwide with NFC-enabled handsets at end-2011, rising to nearly 1.2 billion by end-2016. In line with this rising installed NFC user base, NFC payment volumes will account for 40.8 percent of the total worldwide mobile payment transaction volume by end-2016, up from 15.3 percent in 2011.

Portio Research comprehensively assesses the mobile payments space in our essential new market study. With analysis and forecasts for the worldwide market for mobile payment services to 2016, this report includes data and commentary on: Mobile Money, Mobile Remittance, Mobile Wallet, Google Wallet, Mobile Transaction Platforms, Drivers and Inhibitors, Business Models and Billing Relationships therein, Mobile Payment Users and Volumes, NFC-capable Handsets, NFC Payment Volumes, Mobile Ticketing and Coupon Users and Volumes, In-app Payment Revenue, Mobile Banking Users, Regional Trends (including the UK and US), Key Developments, Case Studies of Key Players, Smartphone Shipments, Mobile Apps User Base and much more.

With the uptake of mobile payment services being driven by both developed and developing economies, Mobile Payments 2012-2016 delivers must-read insight for mobile commerce stakeholders the world over.

Further reasons to buy this research:
•    New five-year forecasts to 2016
•    Examine mobile payment opportunities for key stakeholders
•    Benefit from supporting case studies and profiles
•    Compare how mobile money has evolved in developing and developed markets
•    Instantly improve familiarity with mobile transaction platforms (SMS/Application; WAP; USSD; NFC/ Contactless payments)
•    Better appreciate NFC’s role as a growth-enabler
•    Scrutinise additional projections for Worldwide Smartphone Shipments, Mobile Application Users, and Worldwide and Regional Mobile Subscriber Numbers
•    Includes depiction and appraisal of Mobile Payments Business Models (Bank-centric; Collaboration; Operator-centric; Peer-to-Peer), and Glossary of Terms

Order here
1–5 user team licence: UK £1,495 + VAT/EU €1,795 + VAT/ RoW $2,495
Mobile Payments 2012-2016 - 1-5 user team licence £1,794.00 Add to Cart

Small or medium size company licence: UK £1,995+ VAT/EU €2,395+ VAT/ RoW $3,395
Mobile Payments 2012-2016 - small or medium size company licence £2,394.00 Add to Cart

Large corporate unlimited licence: UK £2,995 + VAT/ EU €3,495 + VAT/ RoW $4,995

Mobile Payments 2012-2016 - large corporate unlimited licence £3,594.00 Add to Cart

Sterling and Euro prices include VAT. If VAT is not applicable, the amount will be deducted at checkout. Euro and dollar prices are illustrative and will be calculated using current exchange rates at checkout.



Key features


Key features of this exciting new market study:

  • Comprehensive assessment of the fast-evolving, high- growth  mobile payments space
  • Must-read insight for mobile commerce  takeholders the world over
  • Study growth  forecasts  and market sizing to 2016
  • Digest worldwide, regional and country-level analysis
  • Explore and identify opportunities in the exciting m-payments  market
  • Analyse data  forecasts and commentary on Mobile Payment Users; Mobile Payment Volumes; NFC-capable Handsets;  NFC Payment Volumes; Mobile Ticketing and Coupon  Users and Volumes; Mobile In-app Payment Revenue; and Mobile Banking Users
  • Understand the drivers and inhibitors within the m-payments ecosystem
  • Review regional trends  (including UK and US case studies) and key developments
  • Learn more about  key players like ViVOtech, Visa, SK Telecom, Square, Ericsson IPX, Bango, and Boku
  • Read explanations of mobile wallet terminology and how Google Wallet works

All this and more in this must-have 119-page report

Contents


Summary contents -  click here to download full Contents listing, including over 60 Tables and Figures
Chapter  1:     Introduction
Chapter  2:     Mobile Commerce
Chapter  3:     Worldwide Mobile Market
Chapter 4:      Worldwide Mobile Money Market
Chapter  5:     Regional Trends
Chapter  6:     Case Studies – Key Players
Chapter  7:     Summary and Conclusions
Chapter  8:     Appendices

About Portio Research


Portio Research Ltd is an independent UK-based research company, focussed on providing high quality market studies.

For our large studies, we specialise in a tightly focussed niche within the mobile sector. We look at customers, I.E. mobile subscribers, and we look at network operators, and we focus mostly on the products and services that connect these two groups. We look at the relationships between operators, the products they sell and the people they sell them to, looking in particular at go-to-market strategies and how the products and services markets vary around the world. We cover all areas of the mobile space including network technologies, handsets and devices, but mobile content and non-voice mobile products, particularly messaging, are our core areas of expertise.

In addition to our highly-regarded off-the-shelf market research, we are also always looking to help clients with bespoke research requests, and we can turn around tailored research projects quickly and cost-effectively.

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Report overview

Russia has one of the fastest growing electronic payments markets in the world, with the number of subscribers exploding over the last three years.

The number of people connected to the Internet is doubling about every 18 months, reaching about 50 million people by the end of 2011. Within the last year, online payment turnover in Russia increased 75 percent year-on-year. There are certainly techology, regulatory and security issues that are currently impeding market growth, but there is a strong impetus for change - change that could unlock a potentially huge market for players positioned with the right strategy. The entry of PayPal into the Russian market in August 2011 indicates their confidence in the profit potential of the market. Others are likely to follow, challenging imcumbents Yandex, Dengi and WebMoney, which currently control 90% of the market.

This new report provides a data-based in-depth analysis of the issues, strategies and forecasts for the market.

Summary contents

1. Overview of the Russian electronic payments market and its main payment services providers (PSPs).
2. The effect of the financial crisis on the Russian payment market.
3. Analysis of the business models of the key market players.
4.  Review of banks' activity in the Russian payment market.
5. Competition and convergence issues between bank and non-bank PSPs.
6. Self-service payment terminals: the reasons behind the success story.
7. Mobile payments.
8. PSPs and social networks.
9. Social aspects and public perception of payment services.
10. IT security and fraud prevention issues.
11. The ‘electronic state’ and electronic payments.
12. Market forecasts.

Order now
This report was published in June 2012. To order at £700/€871/$1,092, click the link below.

The Future for Electronic Payments in Russia - PDF £840.00 Add to Cart

Euro and dollar prices are illustrative and will be calculated using current exchange rates at checkout. Electronic product prices include VAT, which is levied in the UK and Europe. VAT will be calculated and applied or deducted at checkout.



About Artem Genkin
Artem is a professor of economic theory at Moscow Academy of State & Municipal Government. His interests include: the theory and practice of innovation, the evolution of payment systems, Austrian economics and corporate governance and globalisation. He is the Co-owner and CEO at the consulting group "ASPECT" (www.cg-aspect.ru).

Widely published in his native Russia, this is Artem's first English language project. A full list of Artem's publications is available at http://www.genkin.ru/

New report -  Analysis of new disruptive apps and growth forecasts for the worldwide mobile applications market to 2015

With new forecasts and market sizing, the rapidly evolving worldwide mobile applications market is comprehensively reassessed in this exciting new market study – with particular focus on the current breed of hugely popular disruptive applications and services and the threats and opportunities that they respectively present to mobile operators. With analysis also of app stores and app development, this 162-page report covers: YouTube, Facebook, Twitter, Skype, Angry Birds, MobiTV, Google+, Nimbuzz, SMS GupShup, Square, Bango, Boku, Apple App Store, Google Android Market, BlackBerry App World, Nokia Ovi Store, Windows Phone 7 Marketplace and much more.

About this report
The term “disruptive technologies” is associated with technological innovations which are generally not expected to cause ripples within a given sector, but actually do just the opposite and in fact have the capability of completely redefining an industry with their performance. As a result, they represent potent and often unquantifiable threats to incumbent businesses.

Mobile Network Operators (MNOs) are facing a similar threat from disruptive mobile applications and services, including mobile video streaming, social networking, mobile VoIP, bulk messaging services, and mobile payments – all of which are discussed in this report.

MNOs have turned to value-added services in order to counter their falling voice ARPUs (Average Revenue per User) by increasing data ARPUs. And with mobile applications and services currently taking the mobile industry by storm and creating new opportunities, strategies are witnessing a seismic shift towards a stronger mobile applications focus in this quest to increase revenue.

Certainly MNOs can ill afford to ignore these apps and services. After all, this innovative and new league of apps and services has attracted millions of users worldwide and has helped both MNOs to gain subscribers’ loyalty, and to also drive the next wave of subscriber acquisition.

But MNOs need to be mindful of the long term ramifications – including that emerging disruptive applications and services ultimately threaten their key revenue generators: voice and SMS.

In 16 fact-filled chapters, this new study thoroughly examines the current breed of disruptive mobile applications and services, as well as the wider mobile apps market at worldwide and regional levels, app stores and app development.

With supporting case studies and profiles – including YouTube, MobiTV, Facebook, Twitter, Skype, Nimbuzz, SMS GupShup, Square, Bango, and Boku – this new market study fully assesses the threats and opportunities that these hugely popular disruptive mobile applications and services present to MNOs.

Further reasons to buy this research:
•    Essential reading for all in the fast evolving mobile space
•    Grasp how the growing phenomenon of apps and services has proven disruptive and is changing the revenue flows and stakeholders involved in the mobile ecosystem
•    Identify new opportunities within the mobile apps sector
•    Appreciate how these new disruptive apps and services could ultimately kill voice and SMS cash cows
•    Assess the counter-measures/strategies MNOs can deploy to avoid becoming “dumb-pipes” and mere facilitators for these data services
•    Compare popular app stores by total apps available; percentage of game and non-game apps; percentage of free and paid apps; total number of downloads
•    Study invaluable supporting case studies and profiles
•    Features a full updated glossary of terms; and methodology for our apps forecasts
•    Report covers YouTube, Facebook, Twitter, Skype, Angry Birds, MobiTV, Google+, Nimbuzz, SMS GupShup, Square, Bango, Boku, Apple App Store, Google Android Market, BlackBerry App World, Nokia Ovi Store, Windows Phone 7 Marketplace and much more

Order here
1–5 user team licence: UK £995 + VAT/EU €1,187 + VAT/ RoW $1,534
Disruptive Mobile Apps & Services 1-5 users £1,194.00 Add to Cart

Small or medium size company licence: UK £1,995+ VAT/EU €2,395+ VAT/ RoW $3,395
Disruptive Mobile Apps & Services SME licence £2,394.00 Add to Cart

Large corporate unlimited licence: UK £2,995 + VAT/ EU €3,495 + VAT/ RoW $4,995

Disruptive Mobile Apps & Services unlimited licence £3,594.00 Add to Cart

Sterling and Euro prices include VAT. If VAT is not applicable, the amount will be deducted at checkout. Euro and dollar prices are illustrative and will be calculated using current exchange rates at checkout.



Key features


Key features of this exciting new market study:
•    Explore the mobile apps market – one of the hottest topics within the mobile space
•    Benefit from detailed analysis
•    Review new growth forecasts for mobile app users, downloads and revenues to 2015; plus smartphone shipments
•    Understand what disruptive mobile apps and services are, and why you must care about them
•    Uncover the threats and opportunities that are posed by mobile video streaming, social networking, mobile VoIP, bulk messaging services, and mobile payments
•    Learn what goes into developing a successful mobile app
•    Gain insight into app development and monetisation: a gold rush or fool’s gold?
•    All this and more in this must-have 162 page report

Contents


  Click here to download full Contents listing, including 109 Tables and Figures
Summary contents
•    Introduction
•    Worldwide Mobile Market
•    Mobile Applications Market
•    Market Size
•    Value Chain
•    Popular Mobile Application Stores
•    Mobile Apps Development
•    App Development – Is there any money in it?
•    Disruptive Applications and Services – Opportunity or Threat to MNOs?
•    Mobile Video Streaming
•    Social Networking
•    Mobile VoIP
•    Bulk Messaging Services
•    Mobile Payments
•    Conclusions and Future Outlook
•    Appendices

With supporting case studies and profiles – including YouTube, MobiTV, Facebook, Twitter, Skype, Nimbuzz, SMS GupShup, Square, Bango, and Boku – this new market study fully assesses the threats and opportunities that these hugely popular disruptive mobile applications and services present to MNOs.

Companies mentioned


Click here to download the list of over 120 companies mentioned in this Report

About Portio Research


Portio Research Ltd is an independent UK-based research company, focussed on providing high quality market studies.

For our large studies, we specialise in a tightly focussed niche within the mobile sector. We look at customers, I.E. mobile subscribers, and we look at network operators, and we focus mostly on the products and services that connect these two groups. We look at the relationships between operators, the products they sell and the people they sell them to, looking in particular at go-to-market strategies and how the products and services markets vary around the world. We cover all areas of the mobile space including network technologies, handsets and devices, but mobile content and non-voice mobile products, particularly messaging, are our core areas of expertise.

In addition to our highly-regarded off-the-shelf market research, we are also always looking to help clients with bespoke research requests, and we can turn around tailored research projects quickly and cost-effectively.

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New report -  Analysis, user profiles and growth forecasts for worldwide mobile data use 2011 to 2015

Technological advances within the mobile ecosystem have led to seismic shifts in terms of mobile data usage. But beyond the broad stroke analysis of industry headlines, there is a pressing need to understand the finer details of the surging uptake of data services among mobile users in both developed and emerging countries. Building on our strong portfolio of high-quality, data-centric market studies – and naturally underpinned by wider analysis, growth forecasts and market sizing of mobile data revenue and traffic – this exciting new report uses survey-led research to assemble country case studies to deliver invaluable insight in to the specific trends of mobile data use, culminating in a Typical User Profile for each market analysed.

About this report
With the increasing affordability, the uptake of data services is growing among mobile users in both developed and emerging countries. Furthermore, the consumption of data services has increased significantly among existing data services users.

Worldwide mobile data traffic stood at 231.1 Petabytes per month at end-2010. With the rising number of web-enabled mobile devices, cloud computing, alternate access networks such as Wi-Fi, and Mobile Network Operators (MNOs) making huge infrastructural investments to improve the quality of networks, mobile data traffic is expected to grow at a Compound Annual Growth Rate (CAGR) of 91.2 percent between 2010 and 2015 to reach 5,904.1 Petabytes per month by end-2015.

With the emergence of mobile data services, a valuable new revenue stream has arisen for operators. The growing importance of data services has prompted MNOs to design strategies to maximise the revenue-earning potential of these services. However, mobile data revenue is not growing as fast as mobile data traffic. Worldwide mobile data revenue stood at USD 290.3 billion in 2010 and is expected to grow at a comparatively lower CAGR of 13.2 percent between 2010 and 2015.

In many markets today, mobile users are often armed with advanced internet-enabled mobile devices, especially smartphones and tablets, and generally expect access to a vast range of previously-extraordinary services to come more or less as standard – and this has wide-reaching ramifications.

In this context, knowing simply that mobile data use is rising is insufficient, it becomes instead vital to understand the extent to which this is occurring, and what mobile activities users are undertaking.

Exactly what is the typical user doing with their phone (of ranging specification)? What mobile data services are consumers actually using, and how frequently, and for how long?

Despite the high-powered nature of current mobile devices, is it truly network-straining mobile video streaming that users are consuming, or is it ostensibly still the traditional revenue stalwarts (for MNOs) of messaging (SMS and MMS) and voice?

To attain a clearer understanding of mobile data usage trends for this exciting new report, Portio Research conducted a consumer survey (between June and mid-July 2011) to gather usage patterns among the mobile subscribers of six countries:
•    The UK (Europe)
•    China (Asia Pacific)
•    India (Asia Pacific)
•    The US (North America)
•    Chile (Latin America)
•    The UAE (Africa and Middle East)

Led by survey responses, we have assembled detailed country case studies that reveal the specifics of data use – culminating in a Typical User Profile for each assessed market, based on the respondent pool.

The above countries were selected in order to depict the trends in both developing and developed markets. The UK and the US have some of the highest levels of smartphone penetration and mobile broadband adoption, and there have been aggressive efforts by MNOs in these markets to move to high-speed networks to accommodate burgeoning user demand for data services. On the contrary, China and India’s smartphone penetrations are less than 4 percent, even though they lead in terms of mobile subscriber numbers. Chile has one of the highest ARPU figures among countries in Latin America, and also experienced the highest growth rate in mobile subscriber base between Q1 2010 and Q1 2011. Meanwhile, the UAE has one of the highest mobile penetrations worldwide.

Further reasons to buy this research:
  • Worldwide, regional and country-level analysis
  • Attain a clearer understanding of mobile data usage trends through survey-led research
  • Familarise yourself with the evolution of the mobile data services market; and types of mobile data services
  • Gain insight into the factors that make a data service successful
  • Identify drivers and inhibitors of mobile data services
  • See exactly what mobile activities subscribers are using their advanced devices for
  • Scrutinise data on mobile apps discovery, app stores, and paid and free app downloads
  • Examine key facts of the mobile markets covered
  • Essential reading for all in the fast evolving mobile space

Order here
1–5 user team licence: UK £995 + VAT/EU €1,187 + VAT/ RoW $1,534
Mobile Data Usage Trends 1-5 users £1,194.00 Add to Cart

Small or medium size company licence: UK £1,995+ VAT/EU €2,395+ VAT/ RoW $3,395
Mobile Data Usage Trends SME licence £2,394.00 Add to Cart

Large corporate unlimited licence: UK £2,995 + VAT/ EU €3,495 + VAT/ RoW $4,995

Mobile Data Usage Trends unlimited licence £3,594.00 Add to Cart

Sterling and Euro prices include VAT which is chargeable in the UK and the EU. If VAT is not applicable, the amount will be deducted at checkout. Euro and dollar prices are illustrative and will be calculated using current exchange rates at checkout.



Key features


Key features of this essential new market study:
•    Determine mobile user preferences and behaviour across geographies
•    Understand trends in both developing and developed markets
•    Assess mobile data traffic and revenue forecasts for 2011-2015
•    Study six detailed case studies (UK, China, India, US, Chile, UAE)
•    Country-level analysis on monetisation of mobile services; popular mobile activities; smartphone users; Internet usage; mobile applications; and social networking
•    Features a Typical User Profile for each market analysed
•    Learn about the disparity between future data traffic and revenue growth
•    All this insight and more in this must-have 155 page report

Contents


Click here to download full Contents listing, including 153 Tables and Figures
Summary contents
This new market study thoroughly examines mobile data usage trends in eight fact-filled chapters.
•    Introduction
•    Worldwide Mobile Market
•    Mobile Data Services Market
•    Market Size
•    Case Studies – Regional Trends (The UK, China, India, The US, Chile, The UAE)
•    Managing Data Traffic Growth
•    Summary and Conclusions
•    Appendices


Companies mentioned


Click here to download the list of over 60 companies mentioned in this Report

About Portio Research


Portio Research Ltd is an independent UK-based research company, focussed on providing high quality market studies.

For our large studies, we specialise in a tightly focussed niche within the mobile sector. We look at customers, I.E. mobile subscribers, and we look at network operators, and we focus mostly on the products and services that connect these two groups. We look at the relationships between operators, the products they sell and the people they sell them to, looking in particular at go-to-market strategies and how the products and services markets vary around the world. We cover all areas of the mobile space including network technologies, handsets and devices, but mobile content and non-voice mobile products, particularly messaging, are our core areas of expertise.

In addition to our highly-regarded off-the-shelf market research, we are also always looking to help clients with bespoke research requests, and we can turn around tailored research projects quickly and cost-effectively.

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Report overview

The Global Contactless Payments Cards Market: Development, Opportunities and Perspectives describes the evolution and operation of contactless payment methods used at POS, with particular reference to the solutions offered under the American Express–MasterCard–Visa Agreement. The report discusses the benefits contactless payments can bring to all market participants, including card issuers and merchants. The current position of particular systems functioning in various countries and the strategy and implementation of the most important pilot schemes are analysed in-depth. The Polish market is an excellent example of a successful strategy of accelerating contactless payments development through joint investment in a fast expansion of terminal network and mass issuance of cards. The report also describes the prospects for the development of contactless payments globally, including the potential to develop into NFC-based mobile payments. The report is based on research among experts and business practitioners as well as on a range of data obtained from the most important contactless payments market participants and international consulting firms.

The report concludes that the replacement of a considerable number of cash transactions with contactless payments at POS, in public transport, or anywhere fast service is required, will soon become a fact in the most of developed countries. However, mass popularisation of electronic payments requires time to deal with customers’ habits and their deep conviction about the advantages of cash as an anonymous and a commonly accepted method of payment. Benefits from contactless payments can accelerate the development of whole cashless turnover in retail transactions all over the world.

More reasons to buy this report

The report provides:
  • 27 charts and figures and 6 tables
  • 16 case studies contactless payments implementation
  • Unique and previously unpublished data on global volumes for contactless cards and terminals
  • Interviews with 23 industry experts
  • Based on numerous primary and secondary sources, including information from market participants, including large international corporations.
Essential research for:
  • Commercial and cooperative banks
  • Acquirers and card organisations
  • Supermarkets and other retail chains
  • Academic centres
  • Public transport companies and local governments.

Published: February 2011
81 pages, PDF format
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Report participants


MasterCard Europe
Visa Europe
Bank Zachodni WBK SA
PKO Bank Polski SA
Inteligo
Polbank EFG
Gemalto
Fenbrook Consulting
Żabka Polska SA
NOKIA,
mBank
Forrester Research

About POLASIK Research


POLASIK Research is a dynamic research and consulting company, specialising in electronic banking and payment systems.  Its principals have longstanding experience in conducting research into and analyses on this subject.

Our mission is to accumulate and create knowledge of electronic banking and payment systems and to deliver it effectively to market participants. Our goal is to support our partners in their pursuit to continually improve the effectiveness and quality of payment and banking services. We would like to use our knowledge to create conducive conditions to market innovative solutions and promote their public acceptance.

Our knowledge is based on market research, experience in conducting analyses, and specialist literature. Our aim is to both explore the functioning of markets and know the products thoroughly as well as to understand customer behaviour and preferences.



What were the critical success factors behind the M-PESA phenomenon, and why have they been so hard to replicate?

One of the first, and certainly the most successful, implementations of mobile money in emerging economies was M-PESA in Kenya. What started off as a pilot in April 2007 has to date ballooned into a system that is used by some 14,008,319 customers with a total of 27,988 agents, with mobile wallets being used by the majority of those customers as their current account into which salaries are disbursed and from which they pay bills and buy goods.

The success of the system has led to the realisation that collectively the so called ‘unbanked’ or bottom of the pyramid wealth is somewhat larger than previously realised.  Banks and other financial institutions have now realised this, and are also putting systems in place to try and attract these customers through their doors, whether they be actual doors to the banks, or using sub-agencies which offer similar facilities to those offered by mobile money agents.

 



This report explores the reasons for M-PESA’s success, the way in which the functionality has grown, in a demand-led manner, and discusses whether we will see another mobile money phenomenon in emerging markets.There is no shortage of mobile money implementation in most other developing countries in the world right now. To date we have seen other success stories, but none to rival the success of M-PESA.

Published June 2011
ISBN 978-1-907720-24-6
50 pages
For full contents in PDF format, click here
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Contents


Glossary/key terms used in this report
Executive summary
The significance of Visa’s acquisition of Fundamo and Monetise

1.    Introduction
No easy solutions
The smartphone question
M-PESA is not a totally Kenyan phenomenon
Summary

2.    Background
How M-PESA works
Front-end simplicity, back-end complexity
Transaction charges
Technical issues
Handsets
User interfaces
The roll-out of M-PESA beyond Kenya
Afghanistan
Tanzania
India
Egypt and South Africa

3.    The lessons from M-PESA
Demand-driven expansion
The lessons for developed markets
African banking market development
Agency banking
The unbanked sector
Mobile money is lucrative, but there are no quick wins
Managing the agent network
Cash movements
Key success factors
Product simplicity
Technology
Interoperability issues
Bank-led vs MNO-led models

4.    Will we see another M-PESA?
Transaction volume is critical
Why M-PESA was so successful in Kenya
Size of domestic remittances market
MNO dominance
Marketing expertise
The agent network
Cultural factors
Technology
Customer support
Regulatory support
Documentation
Adding value through new features
Geography and population
A repeat of what happened in the US in the late 50s / early 60s?
Interoperability
Moving from cash transactions
International remittances
Getting the app to the customer
SMS and the MNOs

5.    The mobile future
The argument for mobile
The end of cards?
Closed money systems
How is PAYG Solutions planning on leveraging all of this?
Mobile’s potential to change the developing world
Message to developing markets – what can be learnt from M-PESA?

Appendix 1: Technology overview
NSDT
NFC
What you need at the back end for mobile money

Appendix 2:     M-PESA and international remittances

Tables and Figures
Table 1: Comparison of mobile money transfer costs in East Africa (2009)
Figure 1: Diagram of M-PESA functionality when it was first implemented
Figure 2: Diagram of M-PESA functionality now

Reviews



''A unique insight from someone who has seen, from the inside, the history of m-payments in the making. Elizabeth pinpoints the critical success factors of Kenya's M-PESA and sheds light on the back-end complexity of the system. It is a must-read for anyone interested in the evolution of mobile banking.'' Michal Kisiel, Analyst at Bankier.pl

“Drawing from direct experience of delivering and supporting M-PESA whilst at Sagentia and PAYG Solutions, this report captures the technical, security, commercial, regulatory and logistical challenges of delivering money transfer services.” Dr Stella Wooder, Former Head of Managed Services, Sagentia Ltd.


“I couldn't agree more with your assessment of M-PESA’s key success factors.” Oscar Ahere, CEO, Flexus Technologies

“A well thought-out analysis of mobile payments for the unbanked.” Gareth Pateman,Senior Development Manager for M-PESA at Vodafone

Author



Elizabeth Galpin was a member of the original M-PESA development team, who has over 25 years’ experience in the IT industry and is the co-founder of PAYG Solutions Ltd., which uses mobile technologies combined with cloud computing in sectors including agriculture and microfinance to provide solutions for people at the bottom of the pyramid to save and earn money.


Overview

Three years after the nadir of the banking crisis of 2008, the business of banking is undergoing massive change as governments and regulators strive to return stability to the banking system and avoid the future provision of taxpayer support to failing banks.  

The multiple issues raised by the crisis are converging into one core and very fundamental question: what will be the future shape of the banking business in the developed world?  Faced with a raft of untested new initiatives, uncertainty over the direction and effectiveness of bank regulation, a potentially very uneven global playing field, the possibility of drastic restructuring, and the prospect of much reduced profit levels, banking is facing a very challenging future. Add to the mix the impact of this 'new normal' of profitability on investor sentiment with its increasing appetite for risk, and the need to nevertheless operate in a political climate of public anger and retribution, and you have a unique set of conflicts that mean that banking is facing a perfect storm of uncertainty and threat.

But one thing is certain: bankers, investors and others need to plan now for the future, and key strategic decisions to ensure a sustainable future have to be made. Risk, Regulation and Profitability: Reconciling Banking's Key Strategic Challenges defines and analyses the core issues, balances and weighs  conflicting views, and assesses likely impacts and outcomes to provide unique and insightful strategic input in troubled times.

Revised 2012
ISBN 978-1-907720-29-1
100 pages
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Key issues


Key strategic issues addressed by Risk, Regulation and Profitability: Reconciling Banking's Key Strategic Challenges include:

•    Corporate governance:  To what extent can the traditional elements of corporate governance, in particular boards of directors, play a role in mitigating future threats to banking stability? What has been the actual record of such governance in the recent crisis? Has banking become too complex and fast moving for these individuals?
•    New supervisory and regulatory measures:  How likely are such measures such as the new Basel III, coupled with national legislation such as Dodd-Frank in the US and the creation of new regional entities in the EU, to significantly improve the identification and resolution of individual bank and systemic problems?
•    Strategic measures being taken or considered by bank management to reduce risk:  For example, what might be the future profile of investment banking and other high-risk businesses in the light of the possible application of the Volcker rule and similar measures to separate them from those supported by taxpayers?
•    The outlook for reconciling loss mitigation and achieving satisfactory investor returns:  How confident is the industry regarding the future of risk mitigation, and what are the key variables in this effort? What are the major gaps or issues to be addressed in the loss mitigation effort? How likely is a satisfactory resolution of the investor/regulatory dialogue at a return on investment acceptable to both sides?
•    Case studies of success in bank risk management:  While considerable attention has been paid to failures in bank risk management, a number of banks have demonstrated sustained success in reconciling the regulatory and public interest in banking safety with investors’ need for earnings growth and satisfactory return on capital. The report examines in detail such success stories across a number of business models and geographies as well as the lessons to be drawn from them.

The report provides a balanced, composite view of the considerations involved in this strategic planning. In a rapidly evolving process of global re-regulation, it assesses the impact of what has been agreed, what is still to be agreed, and provides an indication of the likely future outcomes.

Contents


PREFACE

EXECUTIVE SUMMARY
The focus of this report
Corporate governance
New supervisory and regulatory measures
Strategic measures to reduce risk
Case studies of success in bank risk management
Views on the outlook for re-regulation
Report structure
Research participants

CHAPTER 1:  THE CORE ISSUES ADDRESSED BY RE-REGULATION
1.1  More – and ‘better’ – capital
1.2  The central importance of government support to failing banks
1.3  Creating an appropriate resolution regime to avoid taxpayer funding
1.4  Too Big To Fail
1.5  The issue of bank funding
1.6  A level bank playing field: super-equivalence and other global regulatory issues

CHAPTER 2: THE EFFECTIVENESS OF CORPORATE GOVERNANCE IN BANKING
2.1  The purpose of corporate governance
2.2  The effectiveness of governance in practice
2.3  Possible means of improving corporate governance
2.4  Summary of corporate governance

CHAPTER 3:  GLOBAL RE-REGULATION: A WORK IN PROGRESS
3.1  Global measures: capital adequacy and liquidity
3.1.1  Capital adequacy
3.1.2  Liquidity
3.2  National measures: resolution regimes
3.2.1  Resolution regimes: the ring-fencing solution
3.3  Summary of global re-regulatory measures

CHAPTER 4:  STRATEGIC RESPONSES TO DATE BY THE BANKS
4.1  Macro developments across the banking sector
4.2  The transformation of the investment banking business
4.3  Changes in retail banking
4.4  The role of banks versus non-banks  
4.5  Summary of strategic responses by the banks

Chapter 5:  SUCCESS STORIES IN RECONCILING INVESTOR EXPECTATIONS AND BANKING SAFETY
5.1  Introduction
5.2  BNP Paribas
5.2.1  Business model
5.2.2  Risk management
5.2.3  Strategy evaluation  
5.3  JPMorgan Chase
5.3.1  Business model
5.3.2  Risk management
5.3.3  Strategy evaluation  
5.4  Banco Santander
5.4.1  Business model
5.4.2  Risk management
5.4.3  Strategy evaluation  
5.5  Standard Chartered Bank
5.5.1  Business model
5.5.2  Risk management
5.5.3  Strategy evaluation  
5.6  Svenska Handelsbanken (SHB)
5.6.1  Business model
5.6.2  Risk management
5.6.3  Strategy evaluation  
5.7  Toronto Dominion Bank
5.7.1  Business model
5.7.2  Risk management
5.7.3  Strategy evaluation  
5.8  Wells Fargo
5.8.1  Business model
5.8.2  Risk management
5.8.3  Strategy evaluation  

CHAPTER 6: THE LIKELY EFFECTIVENESS OF THE NEW REGULATORY MEASURES
6.1  The value of more capital and new liquidity rules
6.2  The issue of regulatory uncertainty
6.3  Does re-regulation go too far?
6.4  Focus on adverse consequences
6.5  The new regulations don’t solve the basic problems
6.6  Summary of effectiveness of the new regulations

CHAPTER 7: OUTLOOK FOR THE FUTURE
7.1  It is too early in the re-regulation process to make many sound observations
7.2  The trend toward basic retail and commercial banking
7.3  Banking will lose its share of the overall financial sector to non-banks active in risk-taking
7.4  The ideal of a level regulatory playing field in banking is unrealistic
7.5  Differentiation of strategy and returns will be a feature of the new banking environment
7.6  Views for the future of banking

CHAPTER 8:  CONCLUSIONS
8.1  Increasing the effectiveness of corporate governance
8.2  The ‘new normal’ profitability of banking and its consequences for bank investors and bank strategies
8.3  Lessons from the case studies
8.4  The outcome of efforts to restructure banking
8.5  Effective supervision: the missing link

BIBLIOGRAPHY

LIST OF FIGURES

Figure 1.1:    The evolution of core capital
Figure 1.2:    Comparative default/failure rates, 1990–2009
Figure 1.3:    The three pillars of banking wisdom
Figure 1.4:    Growth in banking system assets relative to GDP, 1990 to date
Figure 1.5:    Funding: European bank senior bonds vs. non-financial corporates, 2005 to date
Figure 3.1:    Net stable funding ratio
Figure 3.2:    Net stable funding ratio by region (%)
Figure 3.3:    Ring-fencing – in the regulators dreams, and in reality
Figure 5.1:    BNP Paribas geographic and business profile
Figure 5.2:    JPMorgan 2010 net income against performance targets
Figure 5.3:    Breakdown of Santander profits by geographic market
Figure 5.4:    Standard Chartered’s earnings growth, 2001–10
Figure 5.5:    SHB’s annual growth in equity and dividends
Figure 5.6:    TD Bank’s superior return on risk-weighted assets
Figure 5.7:    Wells Fargo Tier 1 common equity ratio
Figure 8.1:    Projected ROEs in European banking

Research participants


Autonomous Research
Arrow Financial Corporation
Barclays Bank Espana
Barclays Capital
Graham Bishop
BlackRock Investment Management
BMCE Bank
BNY Mellon
Boston Consulting Group
Collins Stewart
Credit Suisse
DnB NOR
European Banking Authority
Financial Services Authority
Fitch Ratings
Freeman & Co.
KBC Bank
Keefe, Bruyette and Woods
Lloyds TSB
Loughborough University (Professor David Llewellyn)
Herschel Post
Promontory Financial Group
Risk and Regulation Consulting Ltd
State Street Bank
Stern School
UniCredit
University of North Wales (Professor Philip Molyneux)

Reviews



“Much has been written about the causes of the financial and banking crises.  In his new report ‘The Future of Banking: Reconciling Risk, Profitability and the Public Interest’ Steve Davis analyses some of the less frequently cited causes such as:deficient bank governance, regulatory shortcomings and the drive for unrealistic profitability. He uses these same factors to offer a view – as only he can and not always very comforting! – about the future and how bank managements, regulators and investors will need to respond”. Sir Win Bischoff, Chairman, Lloyds Banking Group


"An excellent, comprehensive, and highly readable report.  Steven Davis is an accomplished and internationally renowned analyst of bank trends bringing to the task a wealth of experience both as a banker and banking consultant. Davis considers the key dimensions of bank strategy, corporate governance, the evolving regulatory and supervisory regime, and risk management strategies, and offers a wealth of valuable insights.  The analysis is powerfully informed by a series of powerful case studies of banks which have been successful in risk management and strategy rather than, as with most previous studies, on what went wrong. This timely report gives an in-depth analysis of banks that have achieved success in their models over an extended period. In the process, the author considers the key issue of how to reconcile loss mitigating strategies whilst at the same time achieving satisfactory investor returns.  The penetrating discussion is also greatly informed by a series of structured interviews with bankers, analysts and supervisors.

This report is a tour de force and the analysis that Davis presents will be of real value to bankers, supervisors, bank analysts and academic scholars. It is a must-read."  Professor David T Llewellyn,oughborough University, and Vienna University of Economics and Business

.“Drawing on insight from senior industry managers, this report offers a compelling and comprehensive view of the post-crisis retail environment”  Roberto Nicastro, global retail head, UniCredit

"A fascinating analysis  - offers valuable insights and a thorough overview of current issues."
Yves Robert-Charrue, Member of the Executive Board, Head Investment Solutions Group, Bank Julius Baer & Co Ltd.

Author


Steven I Davis has spent his career in the banking and financial services sector as a senior executive, strategy consultant, author, analyst and teacher.  He is a graduate (magna cum laude) of Amherst College and of the Harvard Business School.

His 20-year career in international banking commenced at JPMorgan, where he managed a Paris-based research and M & A unit.  For Bankers Trust Company, he ran a venture capital subsidiary in New York and later the bank’s European businesses from a London headquarters.  Subsequently he set up and managed for six years the London-based merchant banking subsidiary of First International Bancshares of Dallas, Texas.

Since establishing Davis International Banking Consultants (DIBC) in 1980, he has managed several hundred strategy assignments for commercial and investment banks, global fund managers, insurers and other financial institutions.  In 1993, he headed a DIBC team which advised the Norwegian Ministry of Finance on the restructuring of the country’s banking sector during the Nordic banking crisis.  In addition, he and his colleagues have prepared over 60 research reports on the financial sector for publication by investment banks and other clients.

Mr. Davis is also the author of 14 books and reports published on best practice in the financial services sector.

The aftermath of the financial crisis has produced a tectonic shift across all core retail banking strategies.  Retail Banking Strategies: the Critical Dimensions for Excellence examines the key strategically important questions for bankers and others interested in the drivers of success in today’s post-crisis banking world.

Based on in-depth interviews with senior executives of leading retail banks as well as independent management consultants, rating agencies, and bank regulators with deep knowledge of the sector, the report digs deep into the collective experience and instincts of these leading practitioners to produce a strategic blueprint for banking excellence in these most “interesting”  of times.

Unique case studies selected to reflect varying aspects of excellence include:

  • Wells Fargo
  • Banco Santander
  • Itau Unibanco
  • Standard Chartered
  • Svenska Handelsbanken
  • The Toronto-Dominion Bank
  • HSBC
  • Bankinter
  • Lloyds Banking Group

“Steve Davis has always been innovative in looking at the banking industry, and in writing about its challenges and opportunities”
Sir Win Bischoff, Chairman, Lloyds Banking Group plc

“Drawing on insight from senior industry managers, this report offers a compelling and comprehensive view of the post-crisis retail environment” Roberto Nicastro, global retail head, UniCredit

Download the FREE Executive Summary here
 Retail_Strategies_2011_Executive_Summary.pdf

Print
Published: January 2011
ISBN 978-1-907720-13-0
120 pages
Print: £1,000/US$1,605/€1,153 inc p&p
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Description


Retail Banking Strategies: the Critical Dimensions for Excellence identifies and analyses management excellence in key dimensions such as:

Business models: Is there one best business model?  Which ones have outperformed others? And why?  Is a pure retail bank a viable model?  If not, why not? How does the retail function interact with other units in the successful banks? How do the successful banks – especially those in diversified models – ensure that customer relationships are effectively managed? What is the culture of a successful retail model? How have once-successful retail models lost their effectiveness?

Product range. Priorities, range, evolution, breadth, profitability, pricing and other central elements.

Client base: With the enhanced importance of the customer post the financial crisis, four key dimensions of the customer base are examined: how the bank prioritises the segments of this base; views on their clients’ needs and behaviour; how performance in serving the client is measured; and the impact of new bank regulation, introduced since the crisis, largely to protect the customer.

Geographic scope: How the ‘back to basics’ theme from the banking crisis is echoed in the geographic scope of bank retail strategies.  

Retail distribution channels: How the four dimensions of channel management are reflected in bank strategies: the theoretical role of the branch and other channels; the challenge of integrating the channels; trends in channel management; and unresolved issues for the future.

Retail leadership and culture:  Is there a unique culture or leadership style in successful retail banks? How might it differ from other businesses?  What can we learn from the management style and culture of the case studies of excellence?  

Cost base and bank operating systems: What factors drive the wide difference in perceived bank cost/income ratios?  What is the relative importance of a bank’s core system in contrast to other factors, such as discipline in cost management?  How are banks attempting to reduce their cost base, and what might be the likely outcome?  What are the systems issues facing a bank’s management, and how might they be resolved?

Risk management and regulation: How bank decision-making structures have been impacted; and the future outlook; and how effectively bank management might deal with risk in the future.

The impact of the banking crisis on retail bank profitability: The drivers of future profitability; and the likely outcomes in terms of bottom line returns on equity.

Key findings


Key findings summary
•    A pure retail bank is unlikely to be viable because of lack of synergies with other businesses such as SMEs and wealth management.

•    A clear articulation of a retail bank’s culture and strategy as well as an understanding of the customer’s needs is vital. The product dimension is not as critical. The product focus is on cross-selling more products to the existing client base.

•    Management’s central focus must therefore be on the existing customer relationship. However, many banks lack an understanding of the needs and behaviour of individual clients. Best practice in the sector involves having a single customer view incorporating all services used by the client, but only a handful of leading banks have the systems capable of providing this view. It is widely assumed that a large proportion – if not the majority – of individual client relationships are unprofitable. Major efforts are being made to match customer needs with the preferred distribution channel.

•    In the geographic dimension, as a result of the crisis many retail banks are retreating to their core markets where they have a significant market share. On the other hand, leading banks in dynamic emerging markets such as India and Brazil are positioned to expand in their region.

•    The branch system is widely viewed as the key element of attracting and serving clients who demand advice, while direct channels are increasingly used to execute transactions. Achieving a seamless interface among channels is a challenge for many large and complex banks. Upgrading branch staff to provide advice and ‘customer experience’ is also a priority.

•    Leadership in retail banking is similar to that of other businesses, but successful retail leadership must identify with staff and clients as a ‘banker in retail’ and be totally focused on the business. The most successful retail banks are those with decades of management continuity.

•    While the critical metric of the cost/income ratio varies widely across the sector, it is extraordinarily difficult to evaluate the relative importance of such drivers as differential product profitability, efficiency of IT systems, successful people management, and credit problems in the loan portfolio, Yet it is clear that retail leaders in developed markets tend to have a cost/income ratio in the low 40s against one in the low 60s for less profitable entities.

•    A major impact of the banking crisis has been the increased cost of consumer protection mandated by the regulatory authorities. As this cost may have a disproportionate impact on the smaller, less profitable clients, such re-regulation may have the unintended consequence of banks giving priority to larger, more profitable relationships.

•    In terms of profitability, the immediate impact of the crisis has been to reduce typical retail ROE metrics from perhaps 20% or more toward the banks’ estimated cost of equity of perhaps 9–10%. There is an assumption, however, that a combination of re-pricing, improved asset quality, the disappearance of many non-bank competitors, and expanding the product line can raise ROE to perhaps 14–15% for the most successful institutions.

•    Future retail strategies will focus on deposit-gathering, cross-selling to existing clients rather than new client acquisition, and developing systems which enable management to track customer needs and relative profitability.

Research participants

Autonomous Research LLP
Barclays Capital
Bankinter
BlackRock Investment Management
Boston Consulting Group
Corporate Executive Board
Financial Institutions Consulting
Financial Services Authority
Fitch Ratings
HSBC
Keefe, Bruyette and Woods
Lloyds Banking Group
McKinsey & Co.
PricewaterhouseCoopers  LLP
Sandler O’Neill & Partners LP
The Toronto-Dominion Bank
UniCredit Group
Wells Fargo Bank

Contents


Preface
Executive summary

Chapter 1:  Introduction
The boundaries of retail banking
The banking crisis of 2007–09
Methodology
Report structure
Research participants
Institutions
Individuals

Chapter 2: The generic impact of the crisis on retail banking
The shift in retail strategy from lending to deposit gathering
The benefits of a strategic shift away from investment banking and trading
The massive hole in retail income from the loss of revenues from lending
Recourse to non-lending products such as asset management and insurance
The uncertain ultimate impact of the banking crisis on retail banking

Chapter 3: Business models in retail banking
General comments
The choice of model  
Achieving synergies in a diversified business model

Chapter 4: The product range
Priorities
Non-traditional products
Range of products
Evolution of the product range
Product pricing and profitability

Chapter 5:  The retail customer
Client segmentation and prioritisation
Insight into customer preferences and needs
Performance management
The impact of regulatory measures to protect consumers

Chapter 6: Geographic scope

Chapter 7: Retail distribution channels
The theoretical role of the different distribution channel
The challenge of channel integration
Trends in channel usage
Unresolved challenges
Viewpoint: Conflicting positions over customer service

Chapter 8: Retail leadership and culture

Chapter 9:  Costs and bank systems

The key drivers of cost/income differentials
Current issues in cost and systems management
The outlook for cost reduction

Chapter 10: Risk management and regulation
The impact on decision-making structures
Outlook for the future

Chapter 11: The outlook for retail bank profitability
Drivers of future profitability
The likely outcome for retail bank returns
Summary

Chapter 12: Case studies of retail banking success
Introduction
Wells Fargo
Business profile
Retail banking strategy
Evaluation of retail strategy
Banco Santander
Business model
Retail banking strategy
Evaluation of retail strategy
Itau Unibanco
Business profile
Retail banking strategy
Evaluation of retail strategy
Standard Chartered
Business profile
Retail banking strategy
Evaluation of retail strategy
Svenska Handelsbanken
Business strategy
Retail banking strategy
Evaluation of retail strategy
The Toronto-Dominion Bank
Business model
Retail banking strategy
Evaluation of retail strategy
HSBC
Business profile
Retail banking strategy
Evaluation of retail strategy
Bankinter
Business profile
Retail banking strategy
Evaluation of retail strategy
Lloyds Banking Group
Business profile
Retail banking strategy
Evaluation of retail strategy

Chapter 13: The outlook for retail banking
What will change and what will not
The key variables underpinning the forecasts

Chapter 14:  Conclusions
Business model
Product
The client
Geography
Distribution channels
Leadership and culture
Costs and systems
Risk management and regulation
The outlook for retail profitability
The case studies of retail success
The outlook as seen by our interviewees

List of Figures

Figure 1.1: Possible client segments in retail banking
Figure 11.1: Potential profitability improvement in retail banking after the crisis
Figure 12.1: Wells Fargo’s approach to excellence in execution
Figure 12.2: Breakdown of Santander’s geographic and line of business segments
Figure 12.3: Development of Toronto-Dominion’s US business
Figure 12.4: HSBC’s personal financial services global network
Figure 12.5: Bankinter’s segmentation strategy

Author


Steven I Davis has spent his career in the banking and financial services sector as a senior executive, strategy consultant, author, analyst and teacher.  He is a graduate (magna cum laude) of Amherst College and of the Harvard Business School.

His 20-year career in international banking commenced at JPMorgan, where he managed a Paris-based research and M & A unit.  For Bankers Trust Company, he ran a venture capital subsidiary in New York and later the bank’s European businesses from a London headquarters.  Subsequently he set up and managed for six years the London-based merchant banking subsidiary of First International Bancshares of Dallas, Texas.

Since establishing Davis International Banking Consultants (DIBC) in 1980, he has managed several hundred strategy assignments for commercial and investment banks, global fund managers, insurers and other financial institutions.  In 1993, he headed a DIBC team which advised the Norwegian Ministry of Finance on the restructuring of the country’s banking sector during the Nordic banking crisis.  In addition, he and his colleagues have prepared over 60 research reports on the financial sector for publication by investment banks and other clients.

Mr. Davis is also the author of 14 books and reports published on best practice in the financial services sector.

In a credit-squeezed market, cash and liquid instruments rule - find out how to drive the effectiveness and efficiency of your company's cash 

 

 

The focus on cash has intensified since the financial crisis and company cash balances have reached record levels.

In crisis-riddled markets, Financial Institutions and Corporates need to ensure cash is available to deal with whatever happens in the market.

 

Five key events have pushed cash management to the forefront of attention:

1.       Liquidity concerns and cash cushions;

2.       No growth economies (especially in Europe);

3.       Tight credit markets;

4.       The recapitalisation of banks in order to meet new global standards (Basel III);

5.       New legal regulations and compliance.


Liquidity Strategies for Financial Institutions and Corporates: The Art of Cash Management is a best-practice guide through the financial storm for Chief Financial Officers, Treasuries and Cash Managers.

With greater insight into banking, payment and trade infrastructures, better decisions can be made to drive the efficiency and effectiveness of cash.

Written by John Bertrand, a veteran banker with 30 years' experience in banking, cash management, payments and technology at Citibank, IBOS, ALLTEL, Misys and Admertec/Ceptum in the US and the UK.

Review

Liquidity Strategies for Financial Institutions and Corporates is superb. For the first time there is a book that explains banking and finance in everyday language. Easy and simple to read and understand. It is ideal for CFOs and others needing a practical understanding of finance and how it affects their companies." Thomas E Jones, former Vice Chairman of the IASB


Publication date: April 2012
ISBN 978-1-907720-47-5

Download full Contents pdfhere

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Contents

Each chapter starts with Key Questions for the CFO, Treasurer or Cash Manager and a Key Points Summary

 

Preface

Introduction

Managing cash flow

Banks create their own cash cushions

The move towards non-banks

 

1 The three levels of cash management

Introduction

Domestic cash management

Bank charges on the rise

Domestic cash management stages

Stage 1: Simple bank account

Stage 2: Bank account with technology

E-banking now the preferred approach

Smartphones

Stage 3:Bank account with investment rules

Stage 4: Bank account with overdraft facilities

Stage 5: Multiple banks with more than one bank account in the same currency

Complexity increases as company grows

Technology and processes

Competitive bidding for banking business

International cash management

Stage 6: International cash management  services with more than one currency account

Cash pooling to notional pooling

Cash pooling considerations

Notional pooling

Notional accounting

Payment infrastructure

Global cash management

Stage 7: Global cash management

Reducing transaction volumes

CLS

Geographic approach

Nordic region vs. eurozone

Rules on inter-company lending

The technology that makes cash management work at banks

The future

 

2 Compliance: new rules and regulations for bank accounts

Compliance started in earnest in 2001

Ongoing AML

Politically Exposed Persons

Due diligence by the corporate

Due diligence by the bank

High risk criteria

Documentation

Customer Due Diligence/Know Your Customer

Anti Money Laundering

The money laundering schematic

Risk-based assessment

Customer screening

Single view of the customer business within the bank (CRM)

Account monitoring

Bank applies compliance testing to bank accounts

Bank applies compliance to payment messages

Additional regulation

The future

 

3 Bank account structures

How safe is your bank balance?

Stability ratings and stress tests

Bank account fees

Electronic Bank Account Management (eBAM)

Extensible Markup Language (XML)

Banking mandates

Value dating

Credit attached to the bank account

Branch foreign exchange rates

Bank accounts for third party cash administrators

Client cash structure: today and tomorrow

Benefits of client cash

Bank – today (with little automation)

Bank with third party accounts (full automation, complete STP)

Intermediary – today

Intermediary with virtual accounts

Corporate employing third party accounts

The future

 

4 Liquidity management and cash cushions

Liquidity management

Intraday liquidity in clearing and settlement

Pricing intraday liquidity

Reduction in bank lending capacity

Credit scoring

Degrees of liquidity

Cash and the flight to safety

Cash cushions

Stress testing

The future

 

5 Putting cash to work

Earning interest

Islamic banking

Linking the savings module to the bank account

Outside investments

Forecasting cash flows

Predicting revenue and expenses

Making money on the money

The future

 

6 Risk and interest structures

The investment risk pyramid

Base level investments – no risk to principal and highly liquid

Appreciating cash investments – up to 15% market risk and highly liquid

A strong currency

Gold

Speculation – up to 50% market risk

Gold – the universal currency

The future

 

7 The credit ladder

Charges for credit facilities

Credit rating agencies

Banks and financial institutions’ scoring techniques

Intraday overdrafts

Large value payments

Other credit techniques

Asset based financing

Sale and leaseback

Leasing other assets

Loans against equity

Inventory financing

Government return financing

Financing via other collateral

Credit default swaps

The future

 

8 The investment pyramid versus the credit ladder

Net Interest Income (NII)

Comparing the pyramid with the ladder

The future

 

9 Payments

Creating harmonised payments

Float and timeframes

Same/next day funds transfers – urgent payments

Other payment methods

Cheques

Automated Clearing House (ACH) payments

ACH for non-urgent payments

Direct debit

SEPA Direct Debit (SDD)

Local direct debit schemes vs. SEPA

Payment solutions for corporates

E-payments

M-payments

Warehouse accounts

International payments for corporates

Correspondent banking payments

Other international payment options

The banking infrastructure for cross-border payments

Third party account managers

Payment fees

Real Time Gross Settlement (RTGS)

The credit card process cycle – key players

Sample transaction and stakeholders

Prepaid cards

Near Field Communication (NFC) payments

Reconciliation

The future

 

10 Foreign exchange

International cash management and FX

Managing foreign exchange options

Derivatives

e-options

Regulatory changes

Other options

Forwards

Interest rate swaps

Currency exposure

Buying and selling FX

Credit line from the bank

Spread and commission-based pricing

Continuous Linked Settlement (CLS)

Automated FX (e-trading)

FX roles

The administrator

The dealer

The trader

The customer

The compliance officer

The support team

Currency movements

Margin, or increased leverage

Comparing euro performance

Asian currencies and the RMB

The future

 

11 Supply chain management

The supply chain and liquidity

DPO

DSO

DIO

Supply chain management developments

SWIFT’s TSU

Forfaiting

Size of the supply chain

Top 20% of companies achieve efficiencies

The physical supply chain

The electronic financial supply chain

Technology creates efficiency

Logistics and the supply chain

Supply chains and the role of the financial services industry

Automation and standards

Invoice financing

E-invoicing

Global adoption of e-invoicing

Changing supplier and buyer processes

Rosettanet

Bill payment in the US

The future

 

12 Illiquid management

Bankruptcy

Liquidation in the UK

The winding-up process

Liquidation

Pre-pack administration

 

13 Case study: Nordea

Profile

Client base

Cash management products

Group accounts

Sweeping and topping

Zero balancing

SWIFT statements

Value dating and currencies

Direct debit

Same-day cross-border money

Inter-company payment

In-house bank for a Corporate Treasury

Netting

Mobile banking

e-invoices

Factoring

Re-invoicing

Working capital

Achievements and initiatives

Client case study –­ Tele2

Tele2’s treasury centre

 

14 Case study: Citibank

Profile

Cash management products

CitiDirect (e-banking)

CitiDirect BE Mobile

WorldLink

WorldLink Payment Services reporting and tracking online

Group accounts

Citibank Electronic Cheque Deposit (ECD) in the US

Payment

Notional pooling

Data aggregation  

Analytics  

Target balancing

Netting

Electronic supply chain

The Citibank Electronic Account

Citibank e-Billing

CityFXPro

Pricing on 130+ currency pairs

Outsourcing treasury functions

Online investment

Liquidity desks

Achievements and initiatives

 

15 Case study: HSBC

Profile

Cash management products

Exposure management

Receivables solutions

Currency dealings as and when

Actively managing the exposure

Interest rate offerings in other countries

Cash concentration and multi-currency receivables

Online banking – Direct Connect

HSBCnet

HSBCnet Mobile

Achievements and initiatives

Client case study – Korean Air

 

16 Case study: Wells Fargo/Wachovia

Profile

Cash management products

Inefficient manual processing

No real-time visibility

Inaccurate cash forecasting

Increased exposure to fraud

Services for multinational corporates (MNCs)

Cash management consulting for multinational corporations

ACH

Cash collection (USA)

Remote Deposit Capture (RDC) for cheques

Direct deposits

Pre-authorised payments (direct debit)

Sweep investments for corporates

Global cheque clearing

Lockbox – the collection of cheques

Client case study – Bumble Bee Foods

 

Tables and figures

Table 1.1: Features of UK bank accounts 2009, 2010

Table 1.2: EIU 2010 digital economy rankings and scores

Table 3.1: Deposit protection schemes

Table 5.1: Wells Fargo economic forecast 2011

Table 7.1: Charges for credit facilities

Table 7.2:  The credit ladder

Table 7.3:  Credit rating agencies ratings guide

Table 9.1: Payment systems comparison

Table 9.2: Multipurpose Pan-European Direct Debit

Table 9.3 Prepaid card fees

Table 9.4: The reconciliations process

Table 10.1: Example of currency option pricing based on basis point spread.

Table 10.2: Euro changes as reported by the European Central Bank

Table 13.1: Report for external sales less exchange rate fluctuations

 

Figure 1.1: Simple domestic cash management

Figure 1.2: Account opening process

Figure 1.3: Simple bank account – domestic

Figure 1.4: Simple bank account – international

Figure 1.5: More than one company bank account (single currency) – simple

Figure 1.6: More than one company bank account (single currency) – alternative  

Figure 1.7: International cash management

Figure 1.8: Cash pool with notional pooling

Figure 1.9: Bi-lateral netting

Figure 1.10: Multi-lateral netting

Figure 1.11: Bi-lateral and multi-lateral netting

Figure 1.12: Payment and core banking landscape

Figure 1.13: Core banking systems and payments landscape

Figure 2.1: Ongoing due diligence

Figure 3.1: eBAM - opening a bank account

Figure 3.2: eBAM – account maintenance

Figure 3.3: eBAM – account closure

Figure 3.4: Value dating

Figure 3.5: Value dated transactions

Figure 3.6: Branch foreign exchange rates

Figure 3.7: Virtual account model

Figure 3.8: Deposits to MFI by non-financial and other financial sectors

Figure 4.1: Liquidity management for a bank

Figure 4.2: Intraday money flows

Figure 4.3: 30-day cash outflows

Figure 5.1: Bank account with savings account

Figure 5.2: Outside investments

Figure 5.3: Company balance over time

Figure 5.4: Forecasting company balances going forward (1)

Figure 5.5: Forecasting company balances going forward (2)

Figure 5.6: Interest rates vs. time (UK, December 2011)

Figure 6.1: The investment pyramid

Figure 6.2: Gold – London PM fix 2000-2011

Figure 7.1: Sovereign credit default swaps January 2010– November 2011

Figure 8.1: The investment pyramid vs the credit ladder (1)

Figure 8.2: The investment pyramid vs the credit ladder (2)

Figure 8.3: The investment pyramid vs the credit ladder (3)

Figure 9.1: Cheque (paper) payment flow

Figure 9.2: ACH payment

Figure 9.3: Direct debit payment

Figure 9.4: SEPA Direct Debit

Figure 9.5: Banks’ payment solutions for corporates

Figure 9.6: Warehouse account process (1)

Figure 9.7:  Warehouse account process (2)

Figure 9.8: Foreign exchange payments

Figure 9.9: Options for international payments – independent domestic banks      

Figure 9.10: Options for international payments – domestic banks in an Association        

Figure 9.11: Options for international payments – international bank

Figure 9.12: Traditional cross-border payments

Figure 9.13: Direct debit to a virtual account

Figure 9.14: Direct debit from a virtual account

Figure 9.15: Real Time Gross Settlement process

Figure 9.16: The credit card process cycle

Figure 9.17: Integrated and hosted virtual account solutions

Figure 9.18: Corporates – the paper trail

Figure 9.19: Corporates automated using virtual accounts

Figure 11.1: Supply chain growth

Figure 11.2: Supply chain management

Figure 11.3: Sales days outstanding

Figure 11.4: Supply chain financing for large companies

Figure 11.5: Accounts receivable financing

Figure 11.6: Invoice factoring

Figure 11.7: Invoice discounting

Figure 11.8: Paper vs e-invoicing

Figure 15.1: Korean Air’s FX outsourcing solution

 

 

About John Bertrand


John's expertise in banking, cash management, payments and technology was gained over 30 years at Citibank, IBOS, ALLTEL, Misys and Admertec/Ceptum in the USA and UK.

 

In this time he created and implemented technology in front, middle and back offices of banks, in addition to developing electronic access options for the needs of corporations and retail customers.  This included redefining core banking for Misys  (300 banks), ensuring long-term revenue. He has provided and developed cash management consulting, netting schemes, third party cash management, pooling and foreign exchange.

 

John has been involved in mergers and acquisitions in more than 10 banking/software transactions that included cloud-based solutions. One transaction in the cloud now represents 9% of Misys profits.

John raised capital, added mezzanine financing, leasing and invoice factoring together to create Ceptum Limited, a potential bank, now with $10 million in profitable assets and with no debt.

He has worked with the UK (FSA) and Swedish (FI) banking and finance authorities to create a de nova bank.





By Maris Strategies Ltd

The market for banking services in sub-Saharan Africa has been undergoing a quantum adjustment as regulatory structures change to invite foreign competition. Banks throughout the region are discovering new ways to engage people across the economic spectrum. Problems that will impact the profitability of financial institutions operating in the region include heightened competition, margin compression, and growing customer sophistication resulting in increasing demand for quality goods and services with competitive rates of interest.

Banking in Sub-Saharan Africa: a Strategic Market Review is a series of six reports that provide an in-depth analysis of the banking services markets of Botswana, Mozambique, Tanzania, Zambia and Zimbabwe – economies for which reliable information is notoriously difficult to obtain.

Based on primary research and numerous statistical sources, these reports analyse the key demographic and competitive factors to present cohesive and comprehensive sets of strategic and tactical recommendations for both incumbents and entrants looking to develop a competitive edge in the market.

Senior bankers, consultants and industry analysts interested in regional banking markets will find these reports particularly helpful as the information will enable them to optimise/modify their current product and services offerings to suit customer needs, develop operating scenarios with measurable and actionable data, and devise evaluation platforms to measure sector performance.

Volume 1: Market overview
Volume 2: Botswana
Volume 3: Mozambique
Volume 4: Tanzania
Volume 5: Zambia
Volume 6: Zimbabwe

Other country volumes to follow

Download sample pages here

Published May 2011
PDF - per volume UK £500 + VAT; EU €563 + VAT; RoW $823
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Banking in Sub-Saharan Africa: a Strategic Market Review - Vol 2 £600.00 Add to Cart

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Banking in Sub-Saharan Africa: a Strategic Market Review - Vol 3 £600.00 Add to Cart

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Banking in Sub-Saharan Africa: a Strategic Market Review - Vol 4 £600.00 Add to Cart

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Banking in Sub-Saharan Africa: a Strategic Market Review - Vol 5 £600.00 Add to Cart

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Banking in Sub-Saharan Africa: a Strategic Market Review - Vol 6 £600.00 Add to Cart

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Banking in Sub-Saharan Africa: a Strategic Market Review - All £3,000.00 Add to Cart

 

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Key conclusions


The reports make it clear that the market for retail banking services in the region is in need of more financial institutions to engage local populations, thus providing a means for people to move into the formal economy. As the market develops and larger regional and supranational institutions enter and expand across sub-Saharan Africa armed with lower operating costs, the viability of existing organisations’ business model rests squarely on a brand identity that offers a clear value proposition to customers. Product development and positioning and consumer price-to-cost ratio are also key to viability. Sustainability will depend on a continuous process of successfully combining top-line growth with bottom-line control. Growth is likely to be multi-dimensional, originating from three key sources: new product growth, new customer growth, and organic growth.

Contents


Indicative country volume contents

Executive Summary
Maris Strategy’s market perspective
Economic indicators
Strategic recommendations

1.    Introduction

2.    Methodology
2.1.    Living Standard Measures
2.2.    Linking socio-demographic profiles with competitive data on banking products and services

3.    Country Economic Analysis
3.1.    Key elements driving the banking sector
3.2.    Legal and regulatory framework
3.3.    Banking infrastructure statistics
3.4.    Demographic trends and customer behaviours with LSM analysis

4.    Competitive Analysis
4.1.    Analysis of product and services offerings
4.2.    Other market developments

5.    Value Proposition Analysis
5.1.    Setting strategic targets with value disciplines
5.2.    Mapping key players’ value propositions in the market

6.    Market and Segmentation Analysis
6.1    Segmentation variables
6.1.1. Demographic segmentation
6.1.2    Psychographic segmentation
6.1.3    Geographic segmentation
6.1.4    Product–benefit segmentation
6.1.5    Application of demographics
6.2.    Demographics combined with competitive data analysis
6.2.1    Banking market structure
6.2.1    Banking market strategy
6.3.    Products and market segmentation analysis

Tables and Figures
Table 3.1    LSM definitions
Table 3.2    Overall LSM analysis
Table 3.3    Deposits
Table 3.3    Lending
Table 3.4    Investments
Table 3.5    Insurance
Table 3.6    Preferred methods of payments
Table 3.6    Financial intermediaries
Table 4.1    Key players offerings overview
Table 4.2    Overview of competitor financials and key market segments
Table 5.1    Value proposition variables
Table 5.2    Perspective on value proposition
Table 6.1    Market segments
Table 6.2    Market share opportunities in country’s market segments
Table 6.3    Country’s direct banking channels
Table 6.4    Microfinance and microcredit products for the self-employed in unregistered businesses

Figure 3.1    Reasons for not having bank account
Figure 3.2    Socio-economic pyramid (population aged 16+)
Figure 4.1    Key player analysis by market share
Figure 4.2    Key player analysis by asset size
Figure 4.3    Key players market positions
Figure 6.1    Banked status of population (aged over 16)

Methodology


The key methodology employed is a combination of analyses of socio-demographic profiles in the country and examination of current banking products and services being offered to the customers. This approach is effective not only in identifying opportunities for offering new products and services, but also in providing critical information for measuring the performance of existing product offerings and fine-tuning the direction of existing strategic plans.

Maris Strategies consulted various primary sources to build a platform for extensive analyses. Demographic data has been acquired from four main sources: national statistical agencies, the World Bank, FinsScope (a comprehensive national household survey focused on financial services needs and usage facilitated by the FinMark Trust) and the Drumbeat Project, a pan-African Living Standard Measures (LSM) and profile database provided by Tendai Mhizha, University of Derby.
Living Standard (or Life Style) Measures have been used as a critical tool to understanding the patterns of customer behaviour and identify market segments that provide an opportunity. This approach also enables banking operators in the country to understand the size and composition of each market segment, and the nature of the banking relationships.

To help financial services providers operating (or planning to operate) in the region to identify the customers with the highest potential for their product and service offerings, Maris Strategies has analysed demographic data from various sources and identified groups of customers sharing the same or similar value criteria when choosing products and services. The key goal is to identify market segments that provide an opportunity for a financial institution to outperform the competition and quickly achieve its operative objectives.

A four-step process has been used to generate a projection for the potential target accounts available in the market and to estimate the number of accounts winnable given a value proposition on par with competitors.
Macro-economic data is analysed to provide a picture of potential growth. World Bank and IMF forecasts indicate that these regional economies will continue to grow at a vigorous rate and that there is huge growth capacity for financial services organisations in the region.

In order to assess target markets and identify opportunities in those markets, competitive analysis  examines competitors in order to evaluate their strengths and weaknesses in each market in order to identify opportunities to provide the same service with better delivery or link a target service to a complementary product offering.

Value proposition analysis is perfomed on a framework of three key elements of competitive advantage: Operational Excellence; Customer Intimacy; and Product Leadership in order to help institutions to choose their strategic focus.

Author


Maris Strategies Ltd

Founded by Joe DiVanna in the United States in 1998, with a UK-based operation since 2000, Maris Strategies is a research think-tank for financial services, government agencies, multinational corporations and technology providers. As a research and advisory group, our unique value proposition is based on five key concepts:

•    Measurable action-based business strategies
•    The applied use of technology to create value
•    Methodologies to produce break-through thinking
•    Finding unique solutions to global organizational challenges
•    Generating ideas in our idea factory

Overview
The financial crisis has badly damaged the once-booming wealth management business – that of providing product, advice and service  to individuals ranging in wealth from affluent to ultra-high net worth. High margin products have been shown to be toxic, the asset base on which revenues are calculated has been devastated, but - worst of all - trust in many providers has evaporated.

Both product providers and client relationship managers, however, must recover and address a number of issues. Is wealth management still an attractive sector? If so, for which institutions among the existing or future providers? What products offer above-average attractiveness in terms of relative profit and future growth?  Will there be a significant shift in distribution channels?  Which are the case studies of success which have emerged from the crisis, and to what do they owe their success?

Based on a series of exclusive and tightly focused interviews with product providers, managers of client relationships, independent analysts, management consultants and others with in-depth as well as objective insights into the business, Wealth Management 2011-2012: The Key Dynamics for Growth provides a roadmap for success in a sector that needs to find a new strategic blueprint.

Published May 2011
ISBN 978-1-907720-16-1
100 pages
For full contents in PDF format, click here
For the FREE Executive Summary, click here
To view sample pages, click here

Print
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Key findings


Wealth management is a highly profitable and attractive business, either on its own or as part of a more diversified financial enterprise. It uses relatively little capital, it does not have the tail risk of other banking businesses like dealing or lending, the base of global wealth is growing,  and it generates remarkable pre-tax margins of some 30-40% on the revenue base and perhaps 40 basis points on assets managed. Many clients are locked into the provider due to trust deeds, and an ageing population may be looking for a new home for their wealth.
  • On the other hand, there is a high degree of polarization in profitability between business segments and individual firms. A McKinsey & Co. study notes that one third of its broad sample of European firms experienced net funds outflows in the down year of 2008, while some 45% were net losers in the recovery year of 2009. Margins also differ widely between offshore and on-shore banking and between the units of global banking institutions. Finally, margins differ widely among geographic and product markets.
  • Market volatility can create violent shifts in profitability. Whether the brokerage or ad valorem fee models are used as the basis for revenue generation, swings in market prices – in particular for equities – can create substantial shifts in profitability. Thus the meltdown of markets in 2008 was followed by an almost equal upward surge in 2009.  But with virtually no new funds inflows or cost adjustment, the net impact as indicated in  McKinsey’s research produced a 47% collapse in the overall European profit pool   from the peak boom year of 2007 to the recovery in 2009.
  • Growing the pool of managed funds is a major challenge. While an estimated two thirds of the wealthy global population is prepared to pay fees for wealth management, there remains some $ 10 trillion in funds which are not. The total net new funds inflow for the sector has been nominal for the past few years. And the industry is highly concentrated, with the top 10 global providers holding an estimated 52% of the total market and the top 20 over 80%.
  • Creating and capturing product trends has become increasingly difficult. Product innovation has increasingly become a critical success factor. In Europe, for example, research by Fitch Ratings indicates that 80% of mutual fund providers have experienced zero net sales in recent years. Demand has moved massively between products, and only a handful of providers have been able to capture the bulk of this demand.
  • Improving productivity and client service both provide substantial challenges. Cost ratios have soared since 2007 as the fall in revenues has not been offset by increased productivity, and incremental costs such as new regulation directly impact the bottom line. As one of our interviewees notes,‘Private banking hasn’t been ‘industrialised’ yet like other banking businesses’.

Contents


Executive summary

Chapter 1:    Impact of the financial crisis on wealth management
Massive loss of trust in the provider
The explosion of regulation
Questioning the ultimate value added by wealth management.
Meeting customer needs
The stagnation of global AUM

Chapter 2:    The business model: winners and losers
Advice vs. product
Some problem models
Possible conflicts of interest
Conclusions

Chapter 3:    The client service model
The client profile
The client’s needs
Responses of wealth management providers
Evaluating potential for strategic success

Chapter 4:    The product dimension
Advice as the core product
The balance between in-house and outsourced products:
The performance challenge: rapid change in customer demand and few winners who capture it
Conflicting views on risk preference
Case study: Product selection

Chapter 5:    Reshaping the operating model
Reshaping the front office
Investment in systems: cutting costs and improving client service
Align client coverage and profitability: the segmentation issue
The cost of entering new markets

Chapter 6:    Risk and regulation
The financial/managerial dimension
The strategic impact of new regulation
Case study: Offshore banking

Chapter 7:    Success in international expansion
Key variables for a global strategy
Size and profile of the wealth pool
Prospects for growth in the wealth pool
Investment preferences
Patience and sustained investment
Openness to new financial relationships
Brand
An existing banking network or other non-wealth management sources of revenue

Building an international wealth management business
Case studies of international success
Future issues for international expansion

Chapter 8:  The profit profile
Wealth management’s profit potential
Polarisation of profitability among segments and individual firms
The impact of market volatility
The challenge from managed funds
Creating and capturing product trends
The challenge of improving productivity and client service

Chapter 9: Case studies of wealth management success
BNY MellonSuccessful diversification across key wealth management businesses
Business model
Wealth management strategy
Strategy evaluation
Julius Baer Group: A Swiss private bank separates advice from product management and builds a successful global network
Business model
Wealth management strategy
Strategy evaluation
Credit Suisse:  One of the two Swiss global banks gains profitable new wealth advisory business and restructures its asset management function
Business model
Wealth and asset management strategy
Strategy evaluation
HSBC:  One of the world’s leading global banks invests in improved operating systems as well as third party compliance in its wealth management arm
Business model
Wealth and asset management strategy
Strategy evaluation
JP Morgan Chase:  A leading US bank leverages its strong brand, broad product strength and diversified client base to create sustained growth in wealth management
Business model
Wealth and asset management strategy
Strategy evaluation
Schroder PLCA UK asset manager builds a highly competitive global product range and diversifies successfully out of its home market
Business model
Wealth and asset management strategy
Strategy evaluation

Chapter 10: The outlook for wealth management
Regulation:
The need for scale and size
Geographic focus
Client focus
The product challenge
Cost management
Conclusions

Chapter 11: Conclusions
The business model:
The client service model
Product profile:
The operating model
Market expansion
Profitability
Outlook

List of Figures
Figure 1: Collapse of European profit pool in 2009
Figure 2: Wealth management transactions 2006–2010
Figure 3: ROA varies across business models
Figure 4: Geographic distribution of high net worth individuals by region
Figure 5: Criteria for client base segmentation
Figure 6: Breakdown of global wealth management sector by wealth band
Figure 7: Proportion of time spent by a relationship manager
Figure 8: Asset allocation 2004–2010
Figure 9: Differentials in frontline
Figure 10: Risk officer priorities: current and in two years’ time
Figure 11: Sources and destinations of offshore funds
Figure 12: Number and proportion of millionaire households
Figure 13: Interface between BNY Mellon’s asset and wealth management functions with other group units
Figure 14: Julius Baer’s global network
Figure 15: UHNWI sector in Credit Suisse combines superior growth and net profitability
Figure 16: Synergies between JPMorgan’s asset management function and other group units
Figure 17: Schroders regional net flow of investment

Reviews


"A fascinating analysis of the current state of the wealth management industry - offers valuable insights and a thorough overview of current issues and opportunities."
Yves Robert-Charrue, Member of the Executive Board, Head Investment Solutions Group, Bank Julius Baer & Co Ltd.

Author


Steven I Davis has spent his career in the banking and financial services sector as a senior executive, strategy consultant, author, analyst and teacher.  He is a graduate (magna cum laude) of Amherst College and of the Harvard Business School.

His 20-year career in international banking commenced at JPMorgan, where he managed a Paris-based research and M & A unit.  For Bankers Trust Company, he ran a venture capital subsidiary in New York and later the bank’s European businesses from a London headquarters.  Subsequently he set up and managed for six years the London-based merchant banking subsidiary of First International Bancshares of Dallas, Texas.

Since establishing Davis International Banking Consultants (DIBC) in 1980, he has managed several hundred strategy assignments for commercial and investment banks, global fund managers, insurers and other financial institutions.  In 1993, he headed a DIBC team which advised the Norwegian Ministry of Finance on the restructuring of the country’s banking sector during the Nordic banking crisis.  In addition, he and his colleagues have prepared over 60 research reports on the financial sector for publication by investment banks and other clients.

Mr. Davis is also the author of 14 books and reports published on best practice in the financial services sector.


Overview
Despite the excitement surrounding their plans, new entrants such as Virgin Money and Tesco Bank face major challenges in building full-service retail banks.

Banking without the Banks, written by marketing expert Professor Steve Worthington and industry consultant Peter Welch, examines the prospects for “non-banks” such as Virgin Money and Tesco Bank in the wake of the financial crisis that has damaged the reputation of the ‘traditional’ banks. The report sets out specific challenges that the likes of Virgin and Tesco face in building full-service banks.

Published: December 2010
Download the FREE Introduction here: 

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Key findings


The report notes that Virgin and Tesco are not new to financial services. Both have been niche players for more than a decade, concentrating on a select range of products and operating through partnerships with existing banks. But they now plan to offer full-service retail banking, with both current accounts and mortgages being talked about. Tesco has bought out RBS’s stake in their financial services joint venture. Virgin Money is buying a small regional UK bank to expedite its acquisition of a banking licence and provide a platform for retail banking.

The report underlines the current small scale of Virgin’s and Tesco’s financial services operations. For example, were Tesco Bank a building society, it would rank only 10th between Principality and Newcastle. The only way for Virgin or Tesco to achieve scale quickly would be through a major acquisition. The planned sale of Northern Rock and divestments required by Lloyds and RBS may present opportunities. But the report underlines that acquisitions on this scale would carry significant integration risks for the non-banks.

The report sets out specific challenges that the likes of Virgin and Tesco face in building full-service banks:
•    Despite all the moves to facilitate account switching, consumers remain instinctively reluctant to change their current accounts.
•    Further, banks remain reliant on opaque and unpopular means of generating revenue from their current accounts, namely high overdraft charges and little or no interest paid on credit balances. Can Virgin and Tesco offer current accounts profitably without relying on these and so threatening their reputational advantage?
•    With much reduced access to wholesale funding following the crisis, Virgin and Tesco will need to build large deposit bases in order to offer mortgages. But they will face intense competition for retail deposits from existing banks and building societies.
•    Virgin Money and Tesco Bank have relied heavily on credit cards and consumer credit to drive their growth. However, in the wake of the crisis, prospects for consumer credit are bleak. And it is not clear which other banking segment offers an equivalent “growth engine” to support their push into full-service banking.

Contents


Introduction
  
1. The ’non-banks’    
1.1    Virgin Money    
1.1.1    Development to date
1.1.2    Business structure
1.1.3    Services offered
1.1.4    Financial performance
1.1.5    Expansion plans

1.2    Tesco Bank
1.2.1    Development to date
1.2.2    Business structure
1.2.3    Services offered
1.2.4    Financial performance
1.2.5    Expansion plans
Case study: ICA Banken in Sweden


2.   The retail banking market    
2.1  Market structure and shares    
2.1.1    The ’big four’ (Barclays, Lloyds, HSBC, RBS)
2.1.2    Banco Santander
2.1.3    Building societies
2.1.4    Other banks and financial services companies
Case study:  Northern Rock
Case study: Post Office Financial Services

2.2   Prospects for market segments  
2.2.1    Current accounts
Case study: The OFT case against unarranged overdraft charges
2.2.2    Mortgages
2.2.3    Credit cards and consumer credit
2.2.4    Deposits


3.    Analysis
3.1  SWOT framework        
3.2    Opportunities
Case study: Lloyds and RBS:    Divestments required to meet EC State Aid requirements
3.3    Threats
3.4    Strengths
Case study: Tesco Clubcard
3.5    Weaknesses
3.6    Conclusions

Author


Steve Worthington
Steve Worthington is Professor of Marketing at Monash University, Melbourne, Australia, in the Faculty of Business and Economics. He previously worked in the UK as Marketing Group Head within Co-op Brand, the own label of the Co-operative Wholesale Society (CWS). Prior to that he was Head of Marketing and Planning with the Co-operative Bank, a subsidiary of the CWS.

Steve has published widely, both in academic journals such as Journal of Marketing Management, Journal of Retailing and Consumer Services and the International Journal of Bank Marketing, and in more practitioner-focused publications such as the Financial
Times, European Card Review, and Cards International. He has also written a number of case studies concerning both bank and retailer provision of financial services. He is the author of Branding and Relationships in Plastic Cards, published by the Financial Times and The China Cards Market 2005/2006 published by VRL.

Peter Welch
The late Peter Welch was a widely respected independent consultant specialising in the banking and healthcare sectors.  Within banking, his main areas of work were market and competitor analyses, with a geographic focus on pan-European developments, and a sectoral focus on personal banking, cards and payments.  His reports include Inside Fraud, an analysis of payment card fraud trends across several European markets, published in late 2009 by PCM and sponsored by Visa Europe, and Rethinking Banking Efficiency, a study that challenges established approaches to the measurement of bank efficiency.

In Peter's memory, all revenues from the sale of this report will be donated to the charitable causes he supported.


By John Howell & Company

Investors are struggling to value the debt of European countries given uncertainty about contagion and economic growth potential.  Today, the challenge for investors is to compare countries across Europe based on their fundamental economic strengths and weaknesses and identify the core factors that drive economic resilience. In particular, they struggle to apply appropriate risk premia to government bonds of core eurozone, eurozone periphery, and Eastern Europe, as the rule of thumb that developing countries should pay higher risk premia not longer holds true. This raises serious questions about debt pricing in Eastern Europe. Eastern Europe: Risk Perceptions versus Economic Fundamentals addresses this question by analysing Eastern European countries and identifying those that have disparities between economic fundamentals and market risk perceptions, as reflected in their sovereign debt yields and CDS spreads. It also provides insight into the fundamental economic strengths of individual countries and the region as a whole in a wider European perspective. The following Eastern European countries are covered:
  • Bulgaria;
  • Czech Republic;
  • Estonia;
  • Hungary;
  • Latvia;
  • Lithuania;
  • Poland;
  • Romania;
  • Slovakia; and
  • Slovenia.

This analysis is driven by our unique proprietary model, Quantitative Country Analytics (QCA). QCA is the most in-depth tool for comparative, comprehensive economic analysis among those available on the market at the moment. It currently covers 174 countries in the world with equal depth. QCA's single score is driven by 17 critical factors, characterising the economic, political and socio-demographic situation in a country, which in turn create three pillars: external adjustment capacity, institutional robustness and medium-term growth potential. The 17 factors are composed of 62 sub-factors. This enables us to rank countries' relative risk and attractiveness based on both their overall score and their pillar scores.


QCA enables investment managers to improve risk adjusted returns by identifying mispricing of assets based on country risk and growth prospects.  Our extensive back-testing has shown that QCA-driven portfolios consistently outperform the market by avoiding risk and identifying underappreciated opportunities. Use of QCA facilitates profitable risk taking and helps demonstrate a sophisticated and prudential approach to risk taking to investors, shareholders and regulators.


Published September 2011
ISBN 978-1-907720-27-7
57 pages

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For the FREE Introduction, click here


Analytical approach


Measuring economic fundamentals in a consistent manner across countries and time can be a challenging exercise. Alternative studies on country risk pricing often use country credit ratings as a proxy for economic fundamentals. Credit ratings have not always been a timely or indeed accurate reflection of risk.  The commercial and operating models of the three key credit rating agencies leaves their analysis prone to distortion.   Moreover, research suggests that 80 percent of the variation in ratings can be explained by GDP per capita. We use JH&Co’s proprietary methodology, Quantitative Country Assessment, which is more effective at consistent comparison of economic fundamentals.

Quantitative Country Assessment (QCA) is a quantitatively driven analytical scoring system that measures a country’s ability to withstand external shock and recover through adopting a new growth model. QCA uses over 100 quantitative inputs sourced from official public such as the World Bank and IMF. It measures 17 critical factors, which in turn create three pillars. The 17 factors are made of 62 sub-factors. The average of these scores creates one country score, enabling us to rank countries based on their relative attractiveness. The pillars are:
1.    External adjustment capacity: a country’s ability to withstand an external financial shock.
2.    Institutional robustness:  measures the robustness of the country’s institutions to implement policy, including fiscal, banking sector institutions and governance by looking at whether governments have a track record of delivering good policy.
3.    Medium-term growth potential: the ability of the economy to grow and achieve a new growth path if necessary.

QCA is successful because it is:
  • Effective - backtesting of QCA’s predictive qualities shows that it adds considerable value to government bond portfolio construction and emerging market equity portfolios.  QCA is also a good predictor of changes in country credit ratings.
  • Rigorous – QCA has over 100 data inputs per country.  Its complex algorithms and recursive interaction distils the various data points into critical factor scores.
  • Transparent and decomposable – QCA’s country score can be decomposed into three pillars, 17 factors and 62 sub factors
  • Broad based and comparable – QCA covers 174 countries and its decomposable scores allow comparing across the full range of different QCA scores.
QCA was created in 2007 at the request of some of our sovereign wealth and private equity clients who wanted a quantitatively driven rigorous medium-term country analysis that allowed them to rank countries.  It forms the basis of the advice we give to our investor clients and allows them to make more informed decisions.  It is also used in the macroeconomic and policy advice we give our government clients.

Since numerous research studies have shown that most of the variation in markets’ risk perceptions (measured through either yields, yield spreads or CDS) are explained by short-term economic indicators, such as GDP growth, current account balance, fiscal deficit, inflation rate etc. In Part I of the report, Risk pricing versus fundamentals, we use Pillars I & II as reflecting a short- to medium-term measure of countries’ economic fundamentals. In Part II, East European Fundamentals in Detail, Pillar III is added and captures medium- to long-term resilience of the economies.

Contents


Abstract
Key findings
Introduction and overview
Analytical approach: Quantitative Country Assessment as a tool for measuring economic resilience

PART I. Risk pricing versus fundamentals
1.1.    Country risk in Eastern Europe
1.1.1.    Slovakia vs Czech Republic
1.1.2.     Slovakia vs Hungary
1.2.    Eastern Europe in a global context
1.2.1.    Intra-regional risk in Eastern Europe
1.2.2.    Global risk pricing
1.2.3.    Does risk pricing accurately reflect the fundamentals?

PART II. East European fundamentals in detail
2.1. Bird’s eye view on Eastern Europe and comparator regions
2.2. Intra-regional overall economic performance
2.3. External adjustment capacity
2.3.1 Macrofinancial adjustment capacity
2.3.2 Reserves
2.3.3 External indebtedness
2.3.4. Current account
2.3.5. Trade vulnerability
2.4. Robustness of institutions
2.4.1. Monetary policy/inflation
2.4.2. Fiscal policy and debt
2.4.3. Banking sector
2.5. Medium-term growth potential
Actual versus potential growth
I2.5.1. nnovation and technology
2.5.2. Demography and human resources
2.5.3. Business environment
I2.5.4. nfrastructure

LIST OF TABLES
Table 1. Selected economic indicators, the Czech Republic and Slovakia, 2007 and 2010
Table 2. Selected economic indicators, Hungary and Slovakia, 2007 and 2010
Table 3. Selected external flexibility-related economic indicators
Table 4. Fiscal stimulus measures in East European EU members, 2009 and 2010, % of GDP relative to 2008 baseline
Table 5. Selected institutional robustness-related indicators, 2007 and 2010.
Table 6. Selected medium-term growth related indicators, 2007 and 2010
Annex 1. QCA factor scores, 2007
Annex 2. QCA factor scores, June 2011

LIST OF FIGURES
Figure 1. Selected East European countries: yield on Euro-denominated sovereign debt and QCA score as of June 2011
Figure 2. CDS on $-denominated debt vs QCA ext. adjustment capacity and institutional robustness
Figure 3. Evolution of QCA score (average external adjustment capacity and institutional robustness) and yields, Czech Republic and Slovakia, 2007-2011
Figure 4. Hungary vs Slovakia, QCA vs Euro-debt yield, July 2011
Figure 5. Yield on Euro-denominated sovereign debt of selected East European countries, March 2006-February 2011

Figure 6. Yield on US$-denominated sovereign debt in selected regions, 2006-2011
Figure 7. Yield on Euro-denominated sovereign debt in selected regions, 2006-2011
Figure 8. Economic fundamentals vs yield on Euro-denominated sovereign debt, Eastern Europe, core EU and GIPS
Figure 9. Economic fundamentals vs yield on US$-denominated sovereign debt, Eastern Europe, Latin America and Southeast Asia
Figure 10. Overall QCA score: East European EU members, core EU, GIPS, Western Balkans, CIS-3, Latin America, South East Asia, June-2011 QCA scores
Figure 11. Regional comparison by three QCA pillars, June 2011 QCA scores
Figure 12. Overall QCA score, Eastern Europe, Core EU and GIPS, June 2011 QCA scores
Figure 13. Comparison by three QCA pillars, EE, Core EU and GIPS, June 2011 QCA scores
Figure 14. Cross-country comparison, 2007, 2009 and 2011 QCA scores
Figure 15. External adjustment capacity in Eastern Europe, core EU and GIPS, 2007 and 2011 QCA scores
Figure 16. Components of external adjustment capacity by comparator regions, QCA 2011 scores
Figure 17. Evolution of nominal exchange rates versus Euro in Eastern Europe, Jan-2007-Feb-2011, Jul-2007=1.
Figure 18. Robustness of institutions by comparator regions, 2011 QCA score
Figure 19. Robustness of institutions by individual East European countries, June 2011 QCA score
Figure 20. Components of institutional robustness by comparator regions, June 2011 QCA scores
Figure 21. Average inflation in selected regions, end-2003 to end-2010, year-on-year change
Figure 22. Market share of foreign-owned banks (% of total banking system assets, 2006)
Figure 23. Pillar III: Medium-term growth potential, EE, Core EU and GIPS, June 2011 average score
Figure 24. Performance of selected regions on Pillar III factors
Figure 25. Average regional scores on Pillar III: Medium-term growth potential, 2007 and 2011

About John Howell & Co


John Howell and Company Ltd brings together a group of professionals from banking, financial markets, energy, public administration and academia whose record of co-operation goes back to 1993. It provides research and consultancy services to public and private sector clients, offering support at strategic, operational and tactical level in the identification and attainment of business or policy goals. Our activities cover all stages of the policy cycle, from research and planning through development and implementation to monitoring and evaluation.  Our areas of expertise are economics and financial markets, strategic risk, investor relations, regulatory reform and compliance analysis.  By bringing together complementary areas of expertise we help our clients to understand the economic environment they are operate in, understand and mange financial risks and allocate resources where they are most needed.  Our clients include hedge funds, sovereign wealth funds, investment banks, supranational entities and private equity funds.

by MACAW research

•    Understand the trends that will shape the dynamic Nordic card industry in 2011 and 2012 in an increasingly competitive market.
•    This unique report determines the growth opportunities for the credit, debit and prepaid card markets in Norway, Sweden, Denmark and Finland.
•    Explore card trends and opportunities in the Nordic region that will allow you to tap into new revenue streams in an ever evolving industry.
•    Key concepts include card portfolio optimization, prepaid opportunities, contactless and mobile payments,
and user experience innovations

Nordic Card Trends & Opportunities 2011-2012 is the anticipated sequel to MACAW research’s previous report in the Nordic Card Trends & Opportunities series published two years ago. Much has happened in the dynamic Nordic payments space in the economic downturn and recovery phases; and many new possibilities have opened up.

The report describes the development of the credit and debit card markets over the last three years and predicts the spend patterns for 2011-2012 for Denmark, Finland, Norway and Sweden utilizing a historically accurate statistical model based on card payments and economic indicators.

Next, the report assesses the potential of the emerging Nordic prepaid card sector, including drivers and inhibitors to growth, and the size of the current market potential for both closed and open loop products. Nine different prepaid categories are assessed: Consumer gifting, Government disbursements, Corporate incentives & benefits, Payroll, FX & Travel, Fuel, Transportation, Remittance, and General purpose reloadable products.

Finally, the report presents 12 Trend articles, each which explores new card trends and opportunities in the Nordics. The topics revolve around modern card portfolio optimization, new prepaid channels and segments, social media and payments (including Facebook), mobile and contactless payments, and credit and debit trends including loyalty points and cash back. The articles are backed by facts, professional views and case studies.

For those readers who want additional information on a given topic, references to online resources such as blog posts, news articles, press releases, company websites and financial reports are provided.

Download the FREE Introduction here:  Introduction.pdf
Download the Contents here:  Contents.pdf

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Contents


Introduction
European Comparisons
Nordic Card Statistics
Card Forecasting Model
Card Market Size Forecasts
Nordic Prepaid Market Assessment

Prepaid application descriptions
Benefits delivered by prepaid applications
Prepaid drivers and inhibitors of growth
Prepaid market size forecasts
Prepaid competitive landscape
Second E-money Directive
Prepaid 3rd Party Distribution
History
Third party channels
The closed loop business case
The open loop business case
Government Prepaid
Public sector prepaid.
Case study: Stuttgart FamilienCard
Case study: Nordea Municipality Cards
Risk Based Pricing
Differentiated APRs
Unsecured loans use risk-based pricing
Market saturation
Higher funding costs
Behavior Scoring
Behavior scoring vs. credit application scoring
Card Performance Optimization
Case study: Vanquis Bank
Mobile Payments
Defining mobile payments
Nordic countries versus Developing countries
The Challenger case
The Payment network case
The Merchant case
The Consumer case Mobile payments in a Sepa perspective
The Mobile Payments Ecosystem
Summary
Contactless Payments
Form factors
Chicken and egg
Contactless appeal
Consumer attitudes
Cash Back and Bonus Points
Cash back and point variants
Cash back levels
Rational consumers:The Banana Case
Opportunity: Cash back for business
Debit Card Innovation
Debit loyalty programs
Micro transactions
Affinity transactions
Opportunity: Choose your Affinity Opportunity: Tax funded cash back
P2P Lending
Predictions
Case study: TrustBuddy
Google, Apple, Amazon, PayPal and Facebook
Online payments
Proprietary payments
Redefining banking
Caveats of virtual currencies
Reality check
Case study: Facebook credits
Banking Apps and UX
Banking Apps
What can banks learn from Apple, Facebook etc?
Virtual Game Goods
Spending real money on virtual goods
Third party gaming services
Virtual goods - banking opportunity
Co-branded opportunity
Opportunity: Funcom
Appendix: Methodology notes and terminology

Author


MACAW research is an Oslo-based consulting company specialized in cards and payments intelligence. We have experience from projects in 20+ countries ranging from card performance optimization to card market forecasts and business development aid. Our clients are card issuers, card service providers and other payment industry stakeholders.

The author of the report is Jon Sederqvist Østmoe. Jon is the founder of MACAW research. Jon has extensive experience in payment cards research and analysis, he writes for international payment journals, and is a frequent speaker at payments conferences, workshops and board meetings for companies in the financial services sector.



By Steven I Davis

 

Published: 1 June 2010

150 pages

ISBN 978-1-907720-02-4 (hardback)

SBN 978-1-907720-00-0 (paperback)

 

Hardback: £50/US$75/€58 plus p&p

Paperback: £25/US$37.50/€29 plus p&p

PDF: UK £25+ VAT/EU €29 + VAT/RoW US$37.50

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Description

What works – and what doesn’t – in one of the most important and hotly debated aspects of the future of the financial system

A new and unique insider view of what actually works, what ought to work, what prevents it from working, and what needs to be done about it – industry experts who have to implement and work within regulatory systems give the real best practice picture

“… Required reading for anyone with a stake in strengthening the financial system – which is pretty much all of us."
Robert P. Kelly, Chairman and CEO, BNY Mellon

Click here to see full contents
Click here for a FREE SUMMARY

The recent financial crisis has unleashed a flood of views on what happened, why it happened, and what new regulatory measures and structures might prevent or mitigate such crises in the future. Effective Bank Regulation and Supervision: Lessons from the Financial Crisis takes a different approach.  Based on in-depth interviews with more than 30 senior, experienced bankers, regulators and supervisors, academics, management consultants, ratings agencies and securities analysts, all deeply involved in the regulatory process, it seeks to answer two key questions:

Which bank regulators around the world have demonstrated relatively superior results in terms of regulatory outcomes? and

What lessons for the future can be drawn from their experience?

The result is a ground-breaking insight into the likely future success of bank regulation and the key factors which will determine such outcomes.

The role of regulation or supervision in the future stability of the global banking system has never been more important than now, and never has the conduct of banks and their regulators been under closer scrutiny. How can regulation work without effective supervision? And what about the virtues of principles-based, as opposed to rules-based regulation? Among the hundreds of bank regulators around the world are examples of what works and what doesn’t as the ‘new normal’ in bank regulation is introduced. By gathering as much evidence as possible of best regulatory practice under fire during the recent financial crisis, Effective Bank Regulation and Supervision: Lessons from the Financial Crisis provides some thoughtful insights and positive lessons for regulators and those responsible for the regulatory function – and to lay out clearly the conclusions from their collective experience.

 

Research participants include:
Institutions
APRA
Banca de Espana
Banca de Espana
Banca d’Italia
BNY Mellon
BaFin
Bankinter
Banque de France/Commission Bancaire
Boston Consulting Group
CBFA
Citibank
Deutsche Bank
Fitch Ratings
Financial Services Authority (UK)
Financial Supervisory Authority of Norway
HSBC
Lloyds Banking Group
Oliver Wyman
McKinsey & Co
OSFI
Office of the Comptroller of the Currency
Promontory Financial Group
Sandler O’Neill
State Street Bank
Swedbank

Individuals
Claudio Borio
Clive Briault
Professor James Barth
Larry Fish
Edward Ladd
Professor David Llewellyn

 

Download the FREE SUMMARY in PDF format here: Summary 491.14 Kb

 

Download the Contents listing in PDF format here:  Contents.pdf 464.53 Kb

 

LOOK INSIDE the book - click below to open

 

 

Reviews

Praise for Effective Bank Regulation and Supervision: Lessons from the Financial Crisis
“… Required reading for anyone with a stake in strengthening the financial system – which is pretty much all of us."
Robert P. Kelly, Chairman and CEO, BNY Mellon

“Steve Davis has always been innovative in looking at the banking industry, and in writing about its challenges and opportunities.  Highlighting the various regulators’ roles, both in their benefits and shortcomings, will usefully inform the debate on the future shape of the industry.”
Sir Win Bischoff, Chairman, Lloyds Banking Group plc

“This is a tour de force of bank regulation. Steve Davis provides an excellent insight into bank regulatory systems, investigating the mechanics of who got it right and who failed in providing appropriate oversight of their banking systems over the crisis. A series of lucid and insightful bank regulator case studies reports the experiences of key players and highlights major areas for reform. A must-read for anyone interested in bank regulation pre- and post-crisis.”
Professor Philip Molyneux, Bangor University

Contents

 

 

Key topics:
Chapter 1    Introduction and overview
Chapter 2    Anatomy of the banking crisis
Chapter 3    The emerging new model of financial regulation
Chapter 4    Regulatory structure and policy
Chapter 5    The role of professional skills
Chapter 6    Politics and bank regulation
Chapter 7    Regulatory authority case studies
Chapter 8    Lessons from the past and the outlook for the future
Chapter 9    Conclusions

Click here to see full contents
Click here for a FREE SUMMARY

Research participants

Institutions
APRA
Banca de Espana
Banca d’Italia
BNY Mellon
BaFin
Bankinter
Banque de France/
Commission Bancaire
Boston Consulting Group
CBFA
Citibank
Deutsche Bank
Fitch Ratings
Financial Services Authority (UK)
Financial Supervisory Authority of
Norway
HSBC
Lloyds Banking Group
Oliver Wyman
McKinsey & Co
OSFI
Office of the Comptroller of the
Currency
Promontory Financial Group
Sandler O’Neill
State Street Bank
Swedbank

Individuals
Claudio Borio
Clive Briault
Professor James Barth
Larry Fish
Edward Ladd
Professor David Llewellyn

Author

Steven I DavisSteven I Davis has spent his career in the banking and financial services sector as a senior executive, strategy consultant, author, analyst and teacher.  He is a graduate (magna cum laude) of Amherst College and of the Harvard Business School.

His 20-year career in international banking commenced at JPMorgan, where he managed a Paris-based research and M & A unit.  For Bankers Trust Company, he ran a venture capital subsidiary in New York and later the bank’s European businesses from a London headquarters.  Subsequently he set up and managed for six years the London-based merchant banking subsidiary of First International Bancshares of Dallas, Texas.

Since establishing Davis International Banking Consultants (DIBC) in 1980, he has managed several hundred strategy assignments for commercial and investment banks, global fund managers, insurers and other financial institutions.  In 1993, he headed a DIBC team which advised the Norwegian Ministry of Finance on the restructuring of the country’s banking sector during the Nordic banking crisis.  In addition, he and his colleagues have prepared over 60 research reports on the financial sector for publication by investment banks and other clients.

Mr. Davis is also the author of 14 books and reports published on best practice in the financial services sector.

The first personal finance book you won't be embarrassed to be seen reading

 

By Andy Golding, with special contributions from Dr.Trevor Lee, @CoffeeCurls and Paul Lucraft

 

Andy Golding can't make you a millionaire, but this is what he can do:new_front_cover_thumbnail


•    To get you thinking about money, your choices and options.
•    To help you develop an early warning system for your financial problems.
•    To get past some of the myths about money and to give an insight into the thinking at your bank.
•    Help you think about your relationship with your bank. What do they want from you? What can you get from them and how can you work with them.
•    Speculate (and it is just speculation) about where financial services, society, demographic change and so on is taking us ... might we be seeing the end of retirement, and what would it mean to you?
•    To shed some light on the financial situation we're in at the present (by we, I mean the whole world).
•    To give you the means to explain personal finance to others.

He'Il even quote some Karl Marx - not something you readily associate with a financial services CEO.

 

 Click here for the FREE Introduction

 

Publication date: January 2012
ISBN 978-1-907720-41-3
Print: £12.99/€15.70/$20 plus p&p; PDF/ebook: £8.99+ VAT/€10.73+ VAT/$14
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Contents

Preface 1

Chapter 1: Andy’s introduction
Hello
Why am I writing this book?
The monkey story
Finance, personal responsibility and blame
Emotions and money
How to make £100 into £1,000
R is for relief
Profits, losses and big bonuses
Sometimes predictions of the future are so spooky
Are we getting financially lazy?
A quick history lesson
It’s officially hot
Shopping and money
One very final point
The fiscally responsible parent
How I’ve organised this book
Don’t eat the marshmallow yet

Chapter 2: The condensed banker
The basics
What is a bank?
What is a bank account?
Why would you have a bank account?
Why doesn’t everyone have a bank account?
So why isn’t everyone banked?
Products
Fair, or not?
Do we take cards for granted?
There are as many gimmicks in the car world as there are in financial services
Q is for quality – easy to say, much more difficult to deliver
What we fail to teach our kids about money – voices from the City and finance

Chapter 3: Budgeting
Budgeting
Personal financial management programmes
All you ever need to know about budgeting
Basics
For advanced users
For even more advanced users
Ultra-advanced users

Chapter 4: Time, gentlemen, please
Compound interest
Inflation
Andy fights inflation
Some thoughts on the housing market
The facts about the UK housing market
To fix or not to fix, that is the question
Buy-to-let mortgage regulation – good or bad?
The housing market and first-time buyers
E is for
F is for the first-time buyers... again
One last word
Bar stool economics

Chapter 5: What happens when it all goes wrong?
D is for
Trouble meeting the mortgage?
Who can we trust?
Get personal with customer services
Bad options
Your credit rating
Guarding against online fraud
G is for Google Checkout
@CoffeeCurls
Dealing with debt – how I went from owing £36k to being back in the black
Debts
Learn from your mistakes
The want generation

Chapter 6: Is the 19th century the future?
Does mutuality still have meaning?
The United States
Japan
Kenya
Mobile money
N is for new money
And finally, Facebook
What we fail to teach our kids about money – comments from outside the UK

Chapter 7: Closing words, the bigger picture
Some sad truths
Dimension 4: family and peer relationships
Dimension 5: behaviours and risks
Dimension 6: subjective wellbeing
A spark of optimism
A modern paradox: why children need to experience failure
Prevention is better than cure

 

About Andy Golding


Andy Golding is a self-confessed addict of all things financial. He has over 25 years experience of working in the financial services industry and in that time has been a banker, a mortgage lender and a CEO of two mutuals.

 

Having spent time working with young enterprise groups and, for that matter, his own kids, he realised that the level of financial literacy among young people, and probably older people too ,was low. He believes that too many people are controlled by money and the organisations that provide financial products, but with a bit of knowledge and some basic rules, really thinks that people can take back that control and have a better relationship with the thing that can cause so much stress and worry.

 

About 'the Crowd'

'The Crowd' are the group of contributors who generously offered their stories, experience and opinions in support of the goal of wider financial literacy, particularly among the young. They are:

 

@CoffeeCurls
Adam Bennett
Ali Gill
Barry Hughes
Becky McCray
Bikash Matthur
Bob Ford
Chris Brooks
Claire Logie
Dave Birch
Bob Ford
Ian Holmes
Jacqui Taylor
Jagjit Chadha
Nersen Pillay
Naomi Stanford
Paul Lucraft
Robin Hesketh
Rupert Lee Browne
Sandy Vaci
Soni Putnis
Steven Spierer
Trevor Lee
Walter Marlowe
William Keegan

 

 


 

Published: December 2010

Format: PDF

Price: £10 +VAT/EUR11.77+VAT/$14.95

The SmartPhone Wallet – Understanding the Disruption Ahead - PDF £12.00 Add to Cart

 

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Description

Do you use a mobile phone?
Do you use credit cards or debit cards?

If so, you need to know that a revolution has started that will impact you sooner than you think, and this book will tell you  – the consumer – what you need to know now.

The reality is that a torrent of advertising and promotional marketing is heading your way to try to convince you to use new services on your SmartPhone at retail stores. Perhaps you have already seen some, or signed up for some.

These new services may seem novel, but this revolution is far more significant than that.  At stake is the future of the credit card system that moves over $11 trillion per year from consumers to retailers. Some of the largest companies in the world think this system should change, starting now. Other, equally large companies think everything should stay the same.

These two sides are already lining up on a battlefield, with you standing in the middle. And, if you are not careful, the first casualty will be your privacy.

Find out what is happening, how it may affect you, and what you can do about it. Read The SmartPhone Wallet – Understanding the Disruption Ahead.

 

 Click here for full contents

 

 Click here to download FREE SAMPLE CHAPTER

 

Contents



 Click here for full contents


Author

About David Schropfer

David W. Schropfer is an international business leader with two decades of management experience ranging from telecommunications to payment systems. Mr. Schropfer is a Partner with the internationally recognized consulting firm, The Luciano Group, where he leads its Mobile Payment and Mobile Commerce practice. Earlier in his career, he was Senior Vice President with IDT Telecom, and a Business Development Officer for Capital One. He has served on the Board of Directors for multiple companies, and is a frequent speaker at industry conferences and trade shows. After graduating Boston College, David earned an Executive MBA from the University of Miami.

 

dwsj_head_2010b

 

Reviews

 

''You’re not a Computer Science Engineer or a payments expert but just like everyone else you have a mobile phone. You’re not a first adopter but you’re intrigued with your phone’s capabilities and you would not mind to use it for more than a phone call or text. You’re bombarded with information about mobile financial services that either expect you to know it all or treat you like a child. In other words, if you are like most of us then The SmartPhone Wallet is a book for you. The book will take you through the basics of payments, mobile networks, the intersection where they meet, and what this convergence can mean to you.'' Mirek Kula, Co-Founder and CEO, REC-ORDER, LLC

 

"I recommend David Schropfer's "The Smartphone Wallet". This book is fundamentally sound and it is easy to read. David's practical view on next generation banking / smartphones is innovating and realistic. The book starts with describing today's banking / consumer function and the innovating technological movement on the horizon. Individuals involved in wireless banking and or any technology background interest should read this book." Patrick Gartner, Director of PM and IT integration, Activu Corporation

 

 

"The Smartphone Wallet was a great read.  The writing style made it an easy read.  The content and perspective gave some very valuable insight into future trends of mobile payments.  I can't wait for the next book in this series."  Meg Collin, Global Telecom Procurement and Sourcing Expert

 

 

 

 

 

 

 

 

LipstickAndPig_72dpi-01webWhy bail-outs fail and people power will succeed

‘Lipstick on a Pig: Why Bail-outs Fail and People Power Will Succeed’ is the first of a new series of books by Zopa co-founder Simon Deane-Johns (aka ‘The Pragmatist’) that take a subversive and irreverent look at how the relationship between society and its institutions is changing, fundamentally and forever - how we, as individuals, are personalising the one-size-fits-all existence traditionally offered by our institutions; and what the impact of this trend will be on our financial system, politics, unions, the church and beyond.

Irreverent it may be, but the series deals with some of the most serious and far-reaching issues facing us today. Why start with our financial system? Because, like it or not – and recent impromptu campsites demonstrate that most of us do not like it – our financial system is supposed to be the beating heart of our society, yet it’s badly broken. And all the money we allocate to the existing structure is just so much lipstick on a pig. But there is hope, even in the face of financial doom. Alternative financial structures are emerging as part of the ‘architecture of participation’ that characterises the online environment. At the same time, the ‘occupations’ are a sign that the majority of us have rounded the ‘change curve’. That we have moved beyond 'shock' at how broken things are, through 'denial' and past 'anger and blame' – despite what’s written on the placards. We all accept the financial system has changed for the worse, and that something must be done. The only reason people are gathering publicly is to figure out what and how.




‘Lipstick on a Pig’ explains  this challenge  in five chapters, based on a series of Pragmatist posts on banking and finance.  In the first chapter, we consider the rise of pragmatism out of a bottom-up desire to know what ‘works’ in the midst of widespread disillusionment with society’s institutions. The second chapter looks at the difference between ‘institutions’, which exist largely to solve their own problems, and ‘facilitators’, which exist largely to solve their customers’ problems. The third focuses on the economic environment in which our financial system operates, including the prevalence of greed and stupidity and a dearth of scepticism and critical thought. The fourth chapter looks at how financial services are evolving in the context described in the previous three chapters. Finally, ‘Lipstick on a Pig’ explains how financial regulation that ironically was intended to protect us actually works to our detriment, and what changes could be made to encourage the growth of simple, low cost – and useful – financial services.

Publication date: January 2012
ISBN 978-1-907720-39-0
Print:£12.99//€15.70/$20 plus p&p; PDF/e-book: £8.99/€10.90/$14

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“Deane-Johns as The Pragmatist is worth his weight in White Papers on criminally overdue financial services reform and crystal clear thinking. His blog is essential reading for all of us who want to see big, effective change for the better. Not just because he agrees with us, but because he explains precisely what needs to be done.  To have this wealth of invaluable observation, analysis and creative thinking brought together in one book is a godsend. That The Pragmatist is a gigging lawyer in the forefront of innovative businesses makes this work an even rarer and significant read.  We should all send a copy to Cameron, Osborne and Cable; there might be hope for UK financial services reform yet.”    Martin Campbell, Director, Beacon Strategic Communications

Book 5 of the Complete Banker Series - new edition 

 

By Chris Skinner

 

Published: 30 November 2011

186pp paperback

Also available in PDF/e-book formats   

ISBN: 978-1-907720-36-9

 

Price: print £12/EUR14/$19 (plus p&p)

Price: PDF/ebook £9.60/EUR11.60/$15.60 (plus VAT if applicable)


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Download Contents here

Download Introduction here

 

Description


Madness_of_Banks_FRcov_thumbnailThe markets are mad and, right now, they’re mad with the Europeans.Tomorrow, who knows? This new edition looks at the crisis in the Eurozone and its maelstorm of debt funding issues.  It considers the crisis of leadership, with all the markets betting the Eurozone will crash unless and until the European Central Bank steps in to sort out the mess through direct central bank funding. Something which, at the time of writing, the Germans have resisted but appears to be inevitable

But this is not just another book about the financial crisis.  This book is about the outcome. It tracks the markets from the day that Lehman Brothers collapsed, and before with Northern Rock, through the reactions of policymakers, politicians, regulators and markets.  It shows where the weaknesses were in hindsight, and where the pitfalls may be in foresight.  It tries to give the reader a chance to absorb and understand the key movements that created the crisis, and the explanation of why banks, bonuses and bosses are still at the trough feeding and greeding their way through the issues faced.

 

The Complete Banker series of books is based upon Chris Skinner’s influential blog.  The series provides the reader with all they need to know about banking and is split into key themes covering retail, commercial and investment banking and the way they are being changed by economics, politics, technology and society. For the amateur and the expert, the knowledgeable and those seeking knowledge, the economist and the politician, the banker and the banked, the Complete Banker series provides you with the truth about the banking.  Not just the truth, the whole truth and nothing but the truth ... but the Complete Truth.

 

 

Contents

 

 

Key topics:

Chapter 1         Anatomy of the crisis

Chapter 2        Governments in action

Chapter 3        Regulators’ reaction

Chapter 4        Banks’ inaction?

Chapter 5        Too big to fail?

Chapter 6        The bonus issue

Chapter 7        Solutions to the crisis – a personal view

 


Reviews

Praise for Chris Skinner

“Chris has both the intellectual acumen as well as the drive and dedication to his industry which is so sadly rare in the business world today.” Steve Edwards MBE, Head of Fraud,  eBay Europe

 

“Chris is uniquely skilled in articulately painting a clear picture of the dynamics impacting our future.”  Deborah L. Bianucci, President & CEO, BAI, USA

 

“Chris successfully captures the pulse of the financial services industry, not from a European or American, but from a truly global perspective.” Emmanuel Daniel, Founder, The Asian Banker, Asia



Author

About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club.  He is now perhaps best known for his daily blog at www.thefinanser.com, and his writing for other media, such as The Banker magazine since 2004.  He is also a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg.  Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

Book 1 of the Complete Banker Series

 

By Chris Skinner



Published: 27 September 2010

210pp paperback

ISBN: 978-1-907720-06-2

Price: £12/EUR14/$19 (plus p&p/VAT as applicable)

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Description


If you think that money is important (and who doesn’t), then so is the ability to process money – in other words, payments. And that’s what this book is all about: from processing payments over the internet and on your mobile telephone; to payments via cards, cash and cheques; to massive international payments operations and the challenges faced by banks in these areas, including the continual vigilance needed to avoid money launderers and terrorists.
The Complete Banker series of books is based upon Chris Skinner’s influential blog.  The series provides the reader with all they need to know about banking and is split into key themes covering retail, commercial and investment banking and the way they are being changed by economics, politics, technology and society. For the amateur and the expert, the knowledgeable and those seeking knowledge, the economist and the politician, the banker and the banked, the Complete Banker series provides you with the truth about the banking.  Not just the truth, the whole truth and nothing but the truth ... but the Complete Truth.

Contents



Preface

Chapter 1    Payments innovation: the new frontiers
Introduction
Payments in the cloud (2009)
Innovation in payments (Part 1) (2009)
Innovation in payments (Part 2) (2009)
Payment innovation (Part 3) (2009)
A real-time global pulse (2009)
Fragmented payments in a connected world (2008)
Payments: the next generation (2006)

Chapter 2    Mobile payments: a vision of the future
Introduction
Mobile payments: the battleground of the future (2009)
Mobile money numbers (2009)
More about mobile money (2009)
First O2-RBS Visa Cards, now Nokia Obopay Money (2009)
Mobile payments in China (2009)
Mobile payment provider 'infuriates' banks (2009)
M-billing: a killer app? (2008)

Chapter 3    The Paypal story
Introduction
Why PayPal et al REALLY matter! (2010)
Why PayPal et al don’t matter (2010)
PayPal does have competition (2009)
PayPal not so pally (2009)
PayPal’s 10th anniversary (2008)
Celebrating PayPal’s Centenary (2007)
PayPal’s future

Chapter 4    Remittances: where the money’s at
Introduction
Remittances and the need for financial inclusion (2010)
More on remittances (2010)
Escape with Phones4U (2009)
More on remittances (2009)
A remittance strategy scribble (2009)
Remittances numbers (2009)

Chapter 5    Regulation: from SEPA to PSD, and beyond
Introduction
What happens to SEPA, Chi-x etc if the euro fails? (2010)
A new PSD-approved Payments Institution starts business (2010)
This house believes that SEPA does matter ... or does it? (2010)
Are you taking the PSD? (2010)
40 days of the PSD (2009)
Full amount principle and charging options
More on the SEPA DD launch (2009)
Today is SEPA day, wa-hey! (2009)
PSD and SEPA research results (2009)
The total view on SEPA and the PSD (2009)
Quantifying people's views on SEPA (2009)
The danger that SEPA may not happen (2009)
SEPA and the PSD aren't broken ... just irrelevant (2009)
So what is the cost benefit of SEPA? (2007)

Chapter 6    Fraud and security matters
Introduction
Why identity management is so complicated (2010)
Chip & PIN is broken (2010)
Eye, eye – the future of customer identity? (2010)
Forget payments, think value (2009)
We know who you are ... or do we? (2009)
How many cards are left in chip & PIN terminals every day? (2008)
This house believes our authentication and identification methods work (2008)
PINs and passwords: useful or useless? (2008)
Chip and PIN five years from now (2009)

Reviews

Praise for Chris Skinner

“Chris has both the intellectual acumen as well as the drive and dedication to his industry which is so sadly rare in the business world today.” Steve Edwards MBE, Head of Fraud,  eBay Europe

 

“Chris is uniquely skilled in articulately painting a clear picture of the dynamics impacting our future.”  Deborah L. Bianucci, President & CEO, BAI, USA

 

“Chris successfully captures the pulse of the financial services industry, not from a European or American, but from a truly global perspective.” Emmanuel Daniel, Founder, The Asian Banker, Asia



Author

About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club.  He is now perhaps best known for his daily blog at www.thefinanser.com, and his writing for other media, such as The Banker magazine since 2004.  He is also a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg.  Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.


Book 2 of the Complete Banker Series

 

By Chris Skinner

 

Published: 27 September 2010

162pp paperback

Also available in PDF

ISBN: 978-1-907720-07-9

Price: £12/EUR14/$19 (plus p&p/VAT as applicable)

Special offer: Save 20% when you buy all five in The Complete Banker set for £48/EUR58/$77 (plus p&p)

Socialising the Antisocial Bank - PDF £14.40 Add to Cart

Socialising the Antisocial Bank - Print £12.00 Add to Cart

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Description


Most banks are anti-social. They don’t engage with customers to ‘delight’ or ‘exceed their expectations’, mainly because customers don’t expect anything different. That doesn’t mean it cannot change. The social media revolution is rapidly turning this planet on its head. So, if you want to work out how to be a social bank and connect with your targeted communities of customers, this is a short guide as to how to do it.

 

The Complete Banker series of books is based upon Chris Skinner’s influential blog.  The series provides the reader with all they need to know about banking and is split into key themes covering retail, commercial and investment banking and the way they are being changed by economics, politics, technology and society. For the amateur and the expert, the knowledgeable and those seeking knowledge, the economist and the politician, the banker and the banked, the Complete Banker series provides you with the truth about the banking.  Not just the truth, the whole truth and nothing but the truth ... but the Complete Truth.

 

 

Contents

 

 

Key topics:

Chapter 1          The future of banking is social

Chapter 2          Social media’s challenges

Chapter 3          Twitter, Facebook and other social networks

Chapter 4          Social finance

Chapter 5          Social money and virtual worlds

Chapter 6          Social media in practice

 

Click here to see full contents in PDF format:  Socialising the Antisocial Bank Contents.pdf 58 Kb


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Reviews

Praise for Chris Skinner

“Chris has both the intellectual acumen as well as the drive and dedication to his industry which is so sadly rare in the business world today.” Steve Edwards MBE, Head of Fraud,  eBay Europe

 

“Chris is uniquely skilled in articulately painting a clear picture of the dynamics impacting our future.”  Deborah L. Bianucci, President & CEO, BAI, USA

 

“Chris successfully captures the pulse of the financial services industry, not from a European or American, but from a truly global perspective.” Emmanuel Daniel, Founder, The Asian Banker, Asia



Author

About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club.  He is now perhaps best known for his daily blog at www.thefinanser.com, and his writing for other media, such as The Banker magazine since 2004.  He is also a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg.  Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

Book 3 of the Complete Banker Series

 

By Chris Skinner

 

Published: 27 September 2010

184pp paperback

Also available in PDF

ISBN: 978-1-907720-08-6

Price: £12/EUR14/$19 (plus p&p)

Special offer: Save 20% when you buy all five in The Complete Banker set for £48/EUR58/$77 (plus p&p)

It's Banking Jim, But Not As We Know It - PDF £14.40 Add to Cart

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Description


The future is uncertain.  However, if you could identify the most critical things likely to occur in the future today, then you could capitalise commercially upon the opportunities presented.  So that’s what this book is all about: what are the most critical things that will occur in banking tomorrow that, if you invest in them today, mean that you can make your fortune. A simple enough premise, and one that I hold to be very true. So, if you want to work out how to the most successful bank you can be during the next decade, then this is the book for you.

 

The Complete Banker series of books is based upon Chris Skinner’s influential blog.  The series provides the reader with all they need to know about banking and is split into key themes covering retail, commercial and investment banking and the way they are being changed by economics, politics, technology and society. For the amateur and the expert, the knowledgeable and those seeking knowledge, the economist and the politician, the banker and the banked, the Complete Banker series provides you with the truth about the banking.  Not just the truth, the whole truth and nothing but the truth ... but the Complete Truth.

 

 

Contents

 

 

Key topics:

Chapter 1          Facing the future: bank strategy in uncertain times

Chapter 2        The new economics of banking

Chapter 3          Banking technology

Chapter 4        The great channel debate

Chapter 5          The mobile future of banking

Chapter 6          Changing customer relationships

Chapter 7          Marketing in the new media age

Chapter 8        Long-term thinking

 

Click here for full contents in PDF format:  It's Banking Jim, But_Not as We Know It Contents.pdf 59 Kb

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Reviews

Praise for Chris Skinner

“Chris has both the intellectual acumen as well as the drive and dedication to his industry which is so sadly rare in the business world today.” Steve Edwards MBE, Head of Fraud,  eBay Europe

 

“Chris is uniquely skilled in articulately painting a clear picture of the dynamics impacting our future.”  Deborah L. Bianucci, President & CEO, BAI, USA

 

“Chris successfully captures the pulse of the financial services industry, not from a European or American, but from a truly global perspective.” Emmanuel Daniel, Founder, The Asian Banker, Asia



Author

About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club.  He is now perhaps best known for his daily blog at www.thefinanser.com, and his writing for other media, such as The Banker magazine since 2004.  He is also a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg.  Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

Book 4 of the Complete Banker Series

 

By Chris Skinner

 

Published: 27 September 2010

172pp paperback

Also available in PDF

ISBN: 978-1-907720-09-3

Price: £12/EUR14/$19 (plus p&p/VAT as applicable)

Special offer: Save 20% when you buy all five in The Complete Banker set for £48/EUR58/$77 (plus p&p)

 

Not Every Bank is Goldman Sachs - PDF £14.40 Add to Cart

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Description


Are the investment banks a dangerously out of control threat to the global financial system, or do they bring innovation and liquidity to the market and alpha returns to their investors? Whichever your view, the investment world is changing and you need to know which are the key trends to track. This book reviews all of these areas and more. So, if you want to understand capital markets and investment banking and just why they get those big bonuses, this is a short guide for you.

 

The Complete Banker series of books is based upon Chris Skinner’s influential blog.  The series provides the reader with all they need to know about banking and is split into key themes covering retail, commercial and investment banking and the way they are being changed by economics, politics, technology and society. For the amateur and the expert, the knowledgeable and those seeking knowledge, the economist and the politician, the banker and the banked, the Complete Banker series provides you with the truth about the banking.  Not just the truth, the whole truth and nothing but the truth ... but the Complete Truth.

 

 

Contents

 

 

Key topics:

Chapter 1          The future for investment and trading

Chapter 2          The impact of MiFID and other regulations

Chapter 3          The liquidity debate

Chapter 4        The trading infrastructure: latency, light speed and dark pools

Chapter 5          New trading venues and incumbent exchanges

Chapter 6          Clearing and settlement

 

Click here to download full contents in PDF format:  Not Every Bank is Goldman Sachs Contents.pdf


Click here to see full contents

 


Reviews

Praise for Chris Skinner

“Chris has both the intellectual acumen as well as the drive and dedication to his industry which is so sadly rare in the business world today.” Steve Edwards MBE, Head of Fraud,  eBay Europe

 

“Chris is uniquely skilled in articulately painting a clear picture of the dynamics impacting our future.”  Deborah L. Bianucci, President & CEO, BAI, USA

 

“Chris successfully captures the pulse of the financial services industry, not from a European or American, but from a truly global perspective.” Emmanuel Daniel, Founder, The Asian Banker, Asia



Author

About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club.  He is now perhaps best known for his daily blog at www.thefinanser.com, and his writing for other media, such as The Banker magazine since 2004.  He is also a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg.  Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

by Richard Murphy

 

Murphy-CourageousState-FinalVisual-2In The Courageous State, Richard Murphy argues that neoliberalism has bred weak governments led by weak politicians who believe implicitly in the supremacy of the market. It has created a cowardly state: a state that sees responsibility and then runs away from it. Worse, the weak politicians who run our cowardly state want power solely to ensure that as much tax revenue as possible is used to benefit the private sector that they idolise. But neoliberal theory is wrong – it has created the crises we’re suffering. And it has no solution to them.

 

The Courageous State argues powerfully for a new economic model. That model is based on a very different idea of what the role of the state is. The Courageous State is driven by its desire to work on behalf of the people of this country.  And that means a Courageous State is populated by politicians who believe in government and in the power of the office they hold. They believe that office exists for the sake of the public good. They know what that public good is. They think it is their job to help each and every person in their country to achieve their potential, sustainably, in a strong mixed economy. And they believe they can command the resources to fulfil this task – whether through tax or other means.

 

A Courageous State offers hope; our existing, cowardly, state does not. Which is why building a Courageous State is essential if we want to both solve our current problems and build a sustainable future.

 

The question is, are you willing to be that Courageous?

Publication date November 2011
ISBN 978-1-907720-28-4
Paperback: £14.99/EUR17.50/$24 plus p&p

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Contents


Chapter 1    Introduction
The creation of the cowardly state
What the cowardly state represents
The need for a Courageous State
Where markets go wrong
The cappuccino economy
Why this book needed to be written
A new economic model
The way to achieve our potential
An approach to poverty
The effect of money on well-being
The right of the state to intervene
Finding solutions to the challenges
Creating a state of hope

Part 1    Why we need the state

Chapter 2    The crisis of confidence in the state
The development of the cowardly state
The consequences of the cowardly state
How did we get a cowardly state?

Chapter 3    The economic myths
The fundamental flaws in neoliberal thinking
Putting this in context – or why we’re in a mess right now
Some excuses and some other flaws
The consequences

Chapter 4    The myth of the market
The role of the state
State regulation
The state as market overseer
The state as service provider
Accounting for externalities
The Courageous State and society

Chapter 5    The cappuccino economy
The ingredients
The correct mix
The final component
Assembling the mix
Getting the most out of the final product

Chapter 6  Where only the state may venture
Where the private sector does not always work best
Why markets are inefficient in practice
Why we can’t afford markets in essential services
Where the markets don’t meet needs
The pensions dilemma
Where the market failed
Market constraints
The need for real capital investment
The custodian of hope

Chapter 7  Financing government activity
The right to tax
The power of taxation
Redistribution of wealth

Part 2 The theory of the Courageous State

Chapter 8 A new economic model
The existing model
The basis for a new model
The economic dilemma
Recognising potential
Defining potential
Making sense of these ideas
Putting potential on the map
The limit to potential
Our different needs
Absolute poverty
Relative poverty
Achievement
Understanding the area of achievement
Working within our limits

Chapter 9  The problem is caused by other people
How to achieve our potential
Choosing what to achieve

Chapter 10 Cash ain’t king
The value of money
Money and the real economy
Over-consumption relative to capacity
The influence of advertising
Corporate motivation
Borrowing to fund current consumption
The consequences of borrowing
Borrowing for asset acquisition
The lender’s viewpoint
What happens when cash is king
Types of financial flow
The consequences of the cash relationships in society

Chapter 11 Delivering the Courageous State
Extremes of wealth and democracy are incompatible
The goal of social democratic government
So how is the courageous state delivered?
The role of tax in the economy
Empathy and redistribution
Tax and redistribution
The five Rs of taxation
Fiscal policy – and why it’s so much more useful than monetary policy
The other tools of macroeconomic management
The attributes of a good tax system
Capital controls

Chapter 12 – Summary of Part 2 arguments

Part 3

Chapter 13  Identifying the Courageous State

Recognising the Courageous State

Chapter 14 Constraining the world of feral finance
Create Financial Transaction Taxes
A Spahn tax
A ban on short selling
Loan of shares
Splitting banks
State ownership of the payment platforms used by clearing banks
Taxing banks
Stopping tax relief on the excess incomes of those speculating
Taming tax havens
Capital controls
Tax on investment income
Equal taxation of capital gains
Close the tax loopholes that encourage excess saving
Restrictions on buy-to-let speculation
Treasury Deposit Receipts

Chapter 15  Rebuilding the role of the state
Close the tax gap
Regulate business properly
Stop privatisation of natural monopolies
Create country-by-country reporting so multinational corporations are accountable
Only procure from companies with acceptable business policies
Create a Green Investment Bank
Funding the new economy

Chapter 16    Building a balanced, sustainable economy
Progressive taxation
Simpler taxation
Wealth taxes
Redistribution
Tax and interest
Taxes on advertising
Ban on advertising to children
Multiple rates of VAT
Promote repair and recycling
Increasing the minimum wage
Protecting union rights
Industry wages boards
Apprenticeships
Industrial training boards
Extra tax relief for employing people
Reorganising the structure of the workplace

Chapter 17    Supporting the broader goals of the Courageous State
Reforming education
Higher education should be free
Lifelong learning
Maximum working hours
Local democracy
Social housing
Health care
Pensions
Care for elderly
Youth services
Relocating work
 
Chapter 18    Cooperating internationally
Closing down tax havens    
Country-by-country reporting
International tax agreements – unitary taxation
Fair trade
Capital controls
Peace keeping – not war

Reviews


“Since the 2008 crash conventional economists have run out of ideas. But Richard Murphy abounds with them. He writes with electric clarity about what went wrong and what could be done to put things right. He is a new economic thinker, no mere theoretician but guided by a sharp and practical accountant's eye. He knows where the money is hidden, who has it and how to release it. Murphy is the closest thing to a one-man think tank and he is as courageous as he says our politicians should be." Polly Toynbee, The Guardian newspaper columnist and economics commentator

"Richard Murphy is a rare voice of sanity at a time of economic madness. We desperately need an alternative to austerity - and with a few more Murphys, we'll get it." Owen Jones, author of Chavs: the Demonisation of the Working Class

"Richard Murphy is an incendiary device thrown into the heart of the economic policy establishment. The Courageous State explodes off the page with a blistering critique of the status quo, a startling new take on economic theory and a set of recommendations which could improve our lives in very short order if only our politicians had the conviction to apply them." Howard Reed, founder of Landman Ecomomics, fomerly Chief Economist at the Instutute for Public Policy Research and the Institute of Fiscal Studies



"Rich individuals, corporations, well-funded special interest groups and much of Fleet Street is on one (the wrong) side and then there is Richard Murphy..the heroic figure. Tireless and forensic, driven by an admirable moral fervour, I take my hat off to a campaigner with Duracell batteries." Kevin Maguire, Sunday Mirror

About Richard Murphy


Richard Murphy is a chartered accountant and economist. He has been described by the Guardian newspaper as an “anti-poverty campaigner and tax expert”. Keven Maguire, associate editor of the Daily Mirror has said:

"We’ve got to take sides on tax. Rich individuals, corporations, well-funded special interest groups and much of Fleet Street is on one (the wrong) side and then there is Richard Murphy plus a few others, including yours truly. But it is Murphy who is the heroic figure. Tireless and forensic, driven by an admirable moral fervour, I take my hat off to a campaigner with Duracell batteries."

A graduate in Economics and Accountancy from Southampton University he was articled to Peat Marwick Mitchell & Co in London. He subsequently founded a firm of accountants in London which he and his partners sold in 2000. In parallel with his practice career Richard was chairman, chief executive or finance director of more than 10 SMEs.

Since 2003 Richard has been increasingly involved in economic and taxation policy issues. He was a founder of the Tax Justice Network and is director of Tax Research LLP which undertakes work on taxation policy, advocacy and research for aid agencies, unions, NGOs and others in the UK and abroad.

Richard Murphy has been responsible for introducing many new issues into debates on tax policy. In particular he created the entirely new accounting concept of Country-by-Country reporting that is now being considered for adoption by the European Union, Organisation for Economic Cooperation and Development, International Accounting Standards Board and others. Country-by-Country reporting  requires a multinational company to publish a proper loss account each and every jurisdiction in which it trades, without exception,  and is seen as as a mechanism for holding multinational corporations to account for their activities in developing countries, the extractive industries and tax havens.  It will also assist the monitoring of  corporate transfer mispricing  and is believed to cost developing countries tens and maybe hundreds of billions of dollars a year as well as corporate tax and governance risk  in multinational corporations.

As principal researcher of the Tax Justice Network from its inception until 2009 Richard helped put the tax haven issue on the international agenda as principal author of such works as ‘Tax Us If You Can’, ‘Closing the Floodgates’, ‘Creating Turmoil’ and the extensive analysis underpinning TJN’s Secrecy Jurisdictions website and its Financial Secrecy Index.  During the course of this work he defined  what a secrecy jurisdiction is and this term has as a result been widely used in  international dialogue on  tackling tax  abuse through  what were previously known as tax havens.  The practical consequences of this work can be seen in changes imposed upon the tax systems of locations such as Jersey, Guernsey and the Isle of Man, all resulting from his exposure of their failure to comply with international requirements.

Richard’s work for the TUC, PCS and others on the tax gap in the United Kingdom has also put this issue on the UK tax agenda.  It was not part of taxation debate until the TUC published his report ‘The Missing Billions’ in 2008. It is now the main priority of H M Revenue & Customs’ business plan.

Richard is also a principal author of many of the proposals made by the Green New Deal group in the UK, which has had a significant influence on political debate in the UK and beyond. He has written extensively on tackling the UK’s deficit without imposing cuts on the most vulnerable in society.

Richard has written widely, and blogs frequently. He has appeared in many radio and television documentaries on taxation issues.  He has also presented written and oral evidence to select committee committees of the House of Commons and House of Lords.

Richard has been a visiting fellow at Portsmouth University Business School, the Centre for Global Political Economy at the University of Sussex and at the Tax Research Institute, University of Nottingham.

Richard was voted the seventh most influential left wing thinker in 2010/11 in a Left Foot Forward poll, making him the highest ranked UK based economist on the list.

Version 40.0 of a classic on environmental policy

 

TANSTAAFL_cvr_160_HI give this book a very firm FIVE STARS.

Anyone interested in the environment (science, policy, economics, life) should read it -- and then go out and tell some emperors that they are naked!

David Zetland 
Senior water economist at Wageningen University in the Netherlands.

When TANSTAAFL (There Ain’t No Such Thing As A Free Lunch) was published in 1971, it was one of the first surveys of environmental policy to be written from a libertarian perspective. It sold many thousands of copies, and, over time, achieved the status of a classic.

 

40 years later, this new edition includes the full original text, long out of print, along with a new introduction and commentaries by the author,covering topics ranging from climate change, to globalization, to ecosocialism. The new material examines both successes and failures of environmental policy over the past four decades, and explains why it is so hard to get policies right. The central theme of the book remains the TANSTAAFL principle: The polluter must pay. market mechanisms, prices, and protection of property offer a surer path to a cleaner and more sustainable future than either bureaucratic controls or moral suasion unsupported by economic incentives.





Published September 2011

ISBN 978-1-907720-26-0

242 pages

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Contents

Introduction
The TANSTAAFL principle
What you will find in this book
A note on style

Chapter 1
WHAT ECOLOGICAL ECONOMICS IS ALL ABOUT
An Awareness of Threat
The Spaceship Earth
Ideology, Ecology, and the TANSTAAFL Principle

Chapter 1 Commentary
What has changed
The cost-benefit approach to environmental economics
What has not changed
The critique of productivism

Chapter 2
PRINCIPLES OF ECONOMICS IN ONE EASY LESSON
Marginalism and the Law of Supply and Demand
Efficiency and the Equimarginal Principle
The Invisible Hand

Chapter 2 Commentary
What has changed
What has not changed

Chapter 3
POLLUTION AND THE PRICE SYSTEM
The Invisible Hand Slips Up
How to Make Pollution Go Away

Chapter 3 Commentary
What has changed
Climate change moves to center stage
Experience with pay-for-pollution
What has not changed
Opposition from the right
Opposition from the left

Chapter 4
THE POLITICAL ECONOMY OF ECOLOGICAL ACTION
The Efficiency Paradox
Who Should Pay for the Cleanup?
Some Problems of Organizing Collective Action
Democracy and Collective Economic Action

Chapter 4 Commentary
What has changed
What has not changed

Chapter 5
COPING WITH THE POPULATION EXPLOSION
What Are We in For?
The Not-So-Simple Arithmetic of Population Growth
Is There an Optimal Population Size?

Chapter 5 Commentary
What has changed
What has not changed

Chapter 6
ENVIRONMENTAL PROBLEMS AND ECONOMIC DEVELOPMENT
Are We Exploiting the Third World?
Population, Loaves, and Fishes

Chapter 6 Commentary
What has changed
What has not changed

Chapter 7
PRESERVING THE WILDERNESS – PUBLIC INTEREST OR SPECIAL INTEREST?
On Good Economics and Good Government
Conservation and the Public Interest
A Positive Program for Preserving the Wilderness

Chapter 7 Commentary
What has changed
What has not changed

Chapter 8
TOWARD AN ECOLOGICALLY VIABLE ECONOMY

Chapter 8 Commentary
Choice and responsibility
The bottom line

Appendix
SCIENCE, PUBLIC POLICY, AND GLOBAL WARMING: RETHINKING THE MARKET-LIBERAL POSITION
Hayek on Liberalism, Conservatism, and Science
Climate Change and Property Rights: A Lockean Perspective
Applying the Lockean Framework
The Significance of Scientific Uncertainty
Conclusion

LIST OF TABLES AND FIGURES
Table 4.1: Hypothetical cost schedule for fume reduction
Figure 1.1: The throughput economy
Figure 1.2: The spaceship earth
Figure 3.1: Map
Figure 5.1: Hypothetical population growth curves
Figure 6.1: The demographic transition
Figure 7.1: Hypothetical distribution of the population with respect to their interest in wilderness preservation
Figure 7.2: Best land use over time
Figure 8.1: Detailed view of the spaceship earth

 

Reviews

"A model of clear thinking and fun writing. Enjoy!" Professor Bryan Caplan, George Mason University
 

 

Author

 

Professor Edwin G. Dolan

Edwin G. Dolan is an economist and educator with a Ph.D. from Yale University. Early in his career, he was a member of the economics faculty at Dartmouth College, the University of Chicago, and George Mason University. From 1990 to 2001, he taught in Moscow, Russia, where he and his wife founded the American Institute of Business and Economics (AIBEc), an independent, not-for-profit MBA program. Since 2001, he has taught at several universities in Europe, including Central European University in Budapest, the University of Economics in Prague, and the Stockholm School of Economics in Riga, where he has an ongoing annual visiting appointment. During a break in his teaching career, he worked in Washington, D.C. as an economist for the Antitrust Division of the Department of Justice and as a regulatory analyst for the Interstate Commerce Commission. There, he contributed to a successful drive for deregulation of  trucking and railroads, which reduced highway congestion and saved millions of gallons of fuel annually. When not lecturing abroad, he makes his home in Washington’s San Juan Islands.

 

By Graham Bishop

"In this important book, Graham Bishop sets out many of the key challenges and choices facing policy makers as we move towards a system of European economic governance. It provides a valuable and thought-provoking contribution to one of the most important debates on public policy in Europe today." Jerzy Buzek, President of the European Parliament

 



Published: January 2011
ISBN: 978-1-907720-14-7
106pp, paperback

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Description


The end of the euro would be the end of Europe – only tough collective action from eurozone leaders can prevent financial meltdown. But do political leaders fully realise the enormous scale of what is required and the frightening consequence of failure, and that intense financial and economic pressures are forcing far-reaching political changes in the eurozone? This searching and timely new study examines the driving forces and potential outcomes of the eurozone debt crisis.

The eurozone debt crisis looks likely to take a dramatic turn for the worse – raising the intensity of the search for enduring solutions as the markets now price six states as ‘risky’.

The eurozone leaders have collectively affirmed “that they stand ready to do whatever is required to ensure the stability of the euro area as a whole. The euro is and will remain a central part of European integration.” Chancellor Merkel of Germany and President Sarkozy of France also sent New Year messages to their citizens that cast the issue in terms that were both stark and historic. It is increasingly clear that the eurozone will take tough collective action on the economic governance of its members. However, in The EU Fiscal Crisis: Forcing Eurozone Political Union in 2011?, Graham Bishop – a leading technical analyst of economic and structural developments in the financial markets of Europe – argues that the eurozone leaders have yet to truly grasp the huge challenges they face and the implications of failure. Furthermore, intense pressures from the interactions of financial markets, economics and politics are forcing the creation of a genuine eurozone political union.

The eurozone now faces several options for its future actions. Three scenarios are considered: an inflationary debt spiral; default; or the emergence of a collectively strong, federal eurozone. Graham convincingly argues that the visionary approach of the latter option is the only way forward for Europe.  In this scenario, the eurozone will have emerged from the financial crisis as a political federation – loose in some respects, but with tightly centralised economic governance at its heart. The proven commitment to fiscal probity may even make it attractive relative to alternative investments around the world. The conclusion is that, if the eurozone does indeed do “whatever is required”, then it will survive.


Contents



Preface

Introduction
Overview
Forcing eurozone political union: the EU financial crisis

Part I: The development of the single market in financial services in 2010 and the direction for 2011

Introduction
Financial regulation: completing the reform
The single market for capital and financial services
SEPA (Single Euro Payments Area)
Consumer protection
Accounting standards
The G20 and reform of financial regulations: the role of the EU
Declaration of the Summit on Financial Markets and the World Economy
Financial sector reforms
Conclusions on the impact of the single market

Part II: Integrating European economic governance: crisis as the driver in 2010 to providing a stronger structure in 2011

Background
The political response to the current crisis
Implementing the de Larosière proposals for supervisory reform: ensnared in both a constitutional and fiscal crisis?
May–October 2010: the European fiscal crisis erupts
Economic co-ordination
October–December 2010: the fiscal crisis deepens – becoming overtly a eurozone issue
Issues for holders of government bonds
Political evolution or revolution: collective decisions by the eurozone?
After the December 17 Summit: still waiting for the real decisions
Statement by the Heads of State or Government of the euro area and the EU institutions


Part III: Why financial integration will force political integration in 2011 and later

European government bonds in 2011
Economic governance of the eurozone
Proposal for a Regulation on enforcement measures to correct excessive macroeconomic imbalances in the Euro Area
A Regulation on enforcement measures to correct excessive macroeconomic imbalances in the Euro Area
How to make sanctions effective
Proposed Regulation amendments
The Role of the European Systemic Risk Board (ESRB)
European Financial Stability Fund (EFSF)
Moody’s rating rationale
Timetable for first half of 2011
Three scenarios for the future of the eurozone
Scenario I: inflationary debt spiral
Scenario II: default
Scenario III: a collectively strong, federal ‘Eurozone’ emerges

Appendix I: Market Discipline on Eurozone Public Debt – amend SGP Regulation and CRD IV

Appendix II: The Graham Bishop papers

Reviews


"In this important book, Graham Bishop sets out many of the key challenges and choices facing policy makers as we move towards a system of European economic governance. It provides a valuable and thought-provoking contribution to one of the most important debates on public policy in Europe today." Jerzy Buzek, President of the European Parliament

“Graham Bishop explains why failure of the Euro is not an option and why repairing flaws in a currency that serves 330 million people requires bold steps. Essential reading for Eurozone Finance Ministers!”
Sharon Bowles MEP – Chair of the Economic and Monetary Affairs Committee of the European Parliament

'Many British commentators make assertions about the Eurozone. Graham Bishop, by contrast, brings to the subject economic expertise, rigorous analysis and political insight. His book should bring the issue roaring back to the front burner of British policy making."
Sir Stephen Wall (UK Permanent Representative to the EU 1995/2000 and EU adviser to the Prime Minister 2000/04)

“The reaction of the EU heads of government to the euro crisis has been late, short term and inadequate. What is needed is a clear-headed convergence plan that installs proper EU economic government. Graham Bishop brings his great experience of EMU to plot the way forward and finds solutions which are financially stabilising and democratically acceptable." Andrew Duff MEP – Constitutional Affairs spokesman, ALDE

“Europe’s leaders are still thrashing about looking for a solution to the euro crisis. But Graham Bishop’s careful analysis points out that their response has already taken them quite a long way down the road to greater political integration. They must now recognise that reality and move decisively. ” Peter Sutherland, European Commissioner 1985/89, former Director General of GATT and Chairman of Goldman Sachs International

"I welcome Graham Bishop's book and his proposals. We should use the crisis as a chance to do what is necessary to advance Europe's position in the global arena. If we want to be seen as a player in the world that counts we have to deepen integration and make sure that the Euro as the most important political project succeeds. Europe is at a critical crossroad: not moving ahead means regression, not defending the status quo." Dr. Wolf Klinz, MEP -  Chairman of the Special Committee on the Financial, Economic and Social Crisis (CRIS) of the European Parliament

Author



Graham Bishop graduated from Sheffield University in 1972 with a degree in Jurisprudence. His publications, articles and speeches on the deregulation of Europe's financial markets provide an informed commentary from the practical perspective of a market participant, but with a political grounding.  

His City career encompasses Phillips & Drew, S G Warburg, and Salomon Brothers/Citigroup.  He founded GrahamBishop.com in 2000 to bring directly to his clients the insights that flow from his standing as a leading technical analyst of economic and structural developments in the financial markets of Europe, providing an informed commentary from the practical perspective of a market participant, but with a political grounding. He has worked extensively with both European and UK political authorities, including the European Commission, where he was a member of the Consultative Group on the Impact of the Euro on Capital Markets (the Giovaninni Group). He was also a member of the Commission's Strategy Group on Financial Services (1998 – creating the Financial Services Action Plan) and the Committee of Independent Experts on the preparation of the changeover to the single currency (1994–95). He was nominated by the European Parliament to be one of its two members of the first Inter-Institutional Monitoring Group, and was Rapporteur for the spring 2003 and November 2004 Reports. He was elected to the Board of the Kangaroo Group in November, 2005 and re-elected in 2007 and 2009.

In the UK’s House of Commons, Mr Bishop was a Special Advisor to the Treasury Select Committee in its examination in 2003 of the implications for United Kingdom membership of the Single Currency. He advised the Treasury Committee on the corresponding reports in 1998 and 1996. He was also a Specialist Adviser to the House of Lords Select Committee on the European Union in its 2003 inquiry into The Barriers to Competition in the Internal Market for Financial Services. He is a Council Member of the Federal Trust and a member of the European League for Economic Co-operation (ELEC). He frequently participates in studies and meetings of research institutes such as Centre for the Study of Financial Innovation (CSFI).

For more information, visit grahambishop.com; keep up to date with Graham Bishop’s news and views: register free for his weekly Headliner”

Published: October 2010

ISBN: 978-1-907720-04-8 (paperback)

ISBN: 978-1-907720-05-5 (hardback)

278pp

 

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Description

  1. Modern Britain's spending bubble has burst

    The Blair years appeared to mark a watershed in Britain's post-war economic history.

    The spectre of decline and deindustrialisation faded from view and in their place came a feeling of affluence based on easy and available credit, rising asset prices, the consumer benefits of a strong pound and a government intent on eradicating social inequalities.

    When the bubble burst in 2008, the harsh truth was left for all to see - the dependence on unsustainable government spending, de-marketised regions, widening skill gaps and the long-term demographic problems caused by an ageing population. The coalition government's controversial emergency budget were the first steps in tackling the UK's fiscal problems, but with growth remaining low and unsteady...what next?

    In this new book, Warwick Lightfoot uses the non-technical approach of the political economist to grapple with the economic problems of modern Britain and assesses:

    Why have huge increases in government spending failed to deliver significant improvement in social welfare?
    Why have thirty years of reform of government spending failed to deliver increased efficiency?
    Do large parts of the UK in fact more closely resemble the economics of the former GDR and Soviet Union than the tiger economies of East Asia?
    What are the steps needed to reform the UK economy?

 

 

Contents

 

 

Key topics:

Introduction

Part 1: Britain’s structural economic problem: Public expenditure and economic performance

Chapter 1: Britain’s supply-side challenge in the 21st century
Chapter 2: Britain’s fiscal problem
Chapter 3: How effective is fiscal policy in demand management terms?
Chapter 4: Can sovereign states go bust?
Chapter 5: Public sector efficiency in the UK
Chapter 6: The failure of public sector reform
Chapter 7: Britain’s regional problem: the caring hand that cripples?
Chapter 8: Centralised public sector pay bargaining and public sector pensions
Chapter 9: Social security transfer payments and age-related spending

Part 2: Capitalism, market limits, state failure and an over-expanded state

Chapter 10: Why markets generally deliver, sometimes fail, and why correcting market failures can create state failure
Chapter 11: The neo-classical analytical paradigm
Chapter 12: Sweden and the Nordic model
Conclusion

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Reviews

Praise for 'Sorry, We Have No Money'

"This book is a timely reminder of how little the UK's problems have to do with individual bank failures, recession and the business cycle.  Warwick Lightfoot provides a clear and balanced account of the last few decades' dilemmas, controversies and policy choices; and argues convincingly that we should revisit the analysts and analyses of the 1970s as a guide to future action ."
Professor Alison Wolf, Sir Roy Griffiths Professor of Public Sector Management, King's College, London

"This is an interesting and timely book. ... All main party politicians are signed up to Mr Lightfoot's direction of travel, so they should look at his book to understand a little more why it might be a good idea to cut the proportion of public spending."
Rt. Hon. John Redwood MP, Chairman of the Conservative Economic Affairs Committee

"This publication could hardly be better timed ... Lightfoot is especially persuasive on the damaging effect a large state has had on the economies of the UK's old industrial regions." David Cottle, Wall Street Journal

“The is as good an analysis as you will find of the need to reduce the level of Britain’s public expenditure, not just to solve the current debt crisis, but in the long term.” Ben Patterson, former MEP and Vice-Chair of the European Parliament’s Economic and Monetary Affairs Committee

"Thoughtful and well researched."
David Smith, Economics Editor, Sunday Times

"A very timely book with a wide perspective and good argument."
Professor Peter Sinclair, University of Birmingham

"The historical causes and possible consequences of Britain's large public sector are the focus of Sorry We Have No Money.The arguments made by Warwick Lightfoot are provocative and well worth reading."
Dr Graham Brownlow, Queen's University, Belfast


Author

About Warwick Lightfoot

Warwick Lightfoot is a professional economist with specialist interests in monetary policy, public expenditure, taxation and labour markets.

Formerly the economics editor of The European, he was for many years a frequent contributor to the Wall Street Journal and has written for the Financial Times, The Times, Sunday Times, the Daily Telegraph, Sunday Telegraph, and the Guardian. His articles on economics and public policy have also been published in specialist journals that range from Financial World, International Economy, and Investors Chronicle to the Times Literary Supplement and the Journal of Insolvency Practitioners.

Warwick worked in government as Special Adviser to the Chancellor of the Exchequer from 1989-92, initially appointed by Nigel Lawson and later reappointed by John Major and Norman Lamont. He was also Special Adviser to the Secretary of State for Employment, the  Rt Hon Norman Fowler MP. He is a Councillor for the Royal Borough of Kensington and Chelsea.



by Graham Bishop

Understand the development of European financial markets

EU_Reg_tmbEurope’s financial system is part way through responding to a series of huge shocks. These were triggered by the US sub-prime mortgage crisis, but it soon became apparent that there were many problems that had been obscured by a long period of economic growth. These have now been forced to the surface and include the interlocking solvency of EU Member States and their banking systems. But they also include the dissatisfaction of electors and tax-payers with a financial system that has turned out to be far more risky than anyone realised, and dissatisfaction with the knowledge and ethics of some market participants.

All market participants – accountants, bankers, insurers, investors, lawyers, regulators – are likely to face demands to have a much greater understanding of their subject. This book is designed to help all students of financial regulation in the European Union, whether embarking on a career, or part-way through.

The foundation of such training is likely to include an understanding of how regulations are created and the political forces that propelled them into existence, as well as the technical compromises that had to be struck along the way. GrahamBishop.com is delighted to be able to put much of our research into the development of European financial markets into formats that can be used explicitly to provide the foundation of this knowledge base. This book provides an overview of the key developments in each sector – split by months so that it is a simple read-through of progress. We record the facts of proposals and decisions, as well as the arguments that went into the final compromise. (For those who wish to continue their professional development, we offer a range of possibilities – contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it .)

But all this must be set in the framework of the economic crisis that may yet derail the single market and destroy the idea of a single European economic space. So we include a chapter on the key developments in that field, as well as Graham Bishop's own writings that attempt to offer helpful analyses and suggestions to promote a greater degree of unity in Europe.

 

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Published January 2012
ISBN 978-1-907720-35-2
206 pages, PDF format only

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About Graham Bishop

GrahamBishop.com was founded in July 2000 to bring our clients the direct insights that flow from Graham’s position as a leading technical analyst of economic and structural developments in the financial markets of Europe.


GrahamBishop.com is engaged with the key participants in this rapidly changing environment: Investors, issuers (government and private), politicians, officials, central bankers, providers of the market infrastructure, academics, the media and other interested parties. Our contacts span the EU: at the European level, they include the Parliament, Commission and Central Bank as well as representative bodies and think tanks. In many Member States, contacts cover the same breadth of participants. Our aim is to bring our members into contact with others in these groups and, especially, the opinions that flow from participants with such different perspectives.

 


The proximity to the policy formation process stems from Graham’s standing with the European Commission, the European Central Bank and European Parliament. This enables us to interpret economic and political developments with authority and insight. Moreover, we have close links with many think tanks in London and Brussels and the Brussels for Breakfast meetings in many EU financial centres give a particular insight into the interaction of market participants and regulators around the EU.

 

A new and essential course that explains the EU regulatory revolution for finance professionals at all levels


Why you need this course

The EU has been pushed into a journey to a new world of financial regulation and it is clear that EU finance professionals will be working within an overarching regulatory framework that is run at EU level.  A large part of the EU shares a single currency which is forcing its users into an ever-closer union. But there is a second driving force towards regulatory change: the global financial crash and the corresponding global response co-ordinated at G20 level. Accordingly, users of the euro will see a much closer degree of financial regulatory integration to be a natural part and parcel of that political closeness.

 

A massive review of almost every aspect of regulation is underway – with more to come in the retail area and a second wave in the field of capital markets. As the full consequences of the crisis are considered, professionals in many fields (banking, securities, law, accountancy, asset management, insurance, etc.) may need targeted help to keep up with the pace and breadth of these changes.

 

Senior managers need to understand the political linkages that are driving fundamental reform horizontally across many different business sectors as failure to recognise then early may put their firms at a competitive disadvantage. As an example, the Commission’s retail agenda has not yet reached the popular press but the combination of SEPA with PRIPS, IMDII and MiFIDII is designed to give a level playing field across retail savings products from firms in securities, asset management and insurance. Moreover, that playing field is intended to be cross-border.

 

A newcomer to the industry will need an understanding of the origins of the pressures that have driven the current legislative patchwork into existence. Once the shape of the tree is understood, then the intricacies of the design of a particular branch will become relevant and comprehensible.

 

Course overview

Developed by economist and leading EU regulation expert Graham Bishop, The Creation of an EU Financial Regulatory Framework forms a Foundation Course for anyone who needs to understand the EU's journey into the new world of financial regulation. It consists of four online lectures, and accompanying course material, that may be undertaken as individual modules or as a complete course. Each lecture is split into three or four subsections so that each can be viewed independently and a professional can supplement their knowledge in any specific area they need. The complete course is designed to help all students of financial regulation in the European Union, whether embarking on a career, or part-way through. But it will enable a newcomer to the financial services industry to be well versed in the background to the EU's Single Currency, Single Market and Financial Regulation.

 

If required, there is a five question, multiple-choice exam at the end of each complete lecture, on successful completion, a pass certificate can be printed out for CPD purposes. An increasing number of professional bodies accept our course and webinars for Continuing Professional Development (CPD) purposes.

 

Lecture 1: Milestones in European Monetary Integration: 1945 – 2011 (includes a copy of the book 'The EU Fiscal Crisis: Forcing Eurozone Political Union in 2011) - more information on this book here
Lecture 2: The Politics of EU Financial Services Regulatory Architecture
Lecture 3: The Global Financial Crisis of 2007 and Onwards: The Global and EU Responses (includes a copy of the book 'EU Financal Regulation: Key Events 2010/2011) - more on this book here
Lecture 4: The 2010 regulatory reform package – implications

 

Download the full course synopsis here

 

Each Lecture is priced at €150+ VAT/£124+ VAT/$190, or €550+ VAT/£454 + VAT/$699 for the complete course. On payment you will be sent full instructions on how to access the material.

Lecture 1: Milestones in European Monetary Integration: 1945 – 2011

EU FR Framework Lecture 1 £148.80 Add to Cart
 

Lecture 2: The Politics of EU Financial Services Regulatory Architecture

EU FR Framework Lecture 2 £148.80 Add to Cart

Lecture 3: The Global Financial Crisis of 2007 and Onwards: The Global and EU Responses

EU FR Framework Lecture 3 £148.80 Add to Cart

Lecture 4: The 2010 regulatory reform package – implications

EU FR Framework Lecture 4 £148.80 Add to Cart

Complete course: Save €50/£40/$60

EU FR Framework complete course £544.80 Add to Cart

Sterling and Euro prices include VAT which is chargeable in the UK and the EU. If VAT is not applicable, the amount will be deducted at checkout.Euro and dollar prices are illustrative and will be calculated using current exchange rates at checkout.

 

Contents


Lecture 1: Milestones in European Monetary Integration: 1945 – 2011

Part 1: Origins and objectives of the EU
1945 End of World War II
1946 Churchill In Zurich
1950 Schuman Declaration
1955 Messina Declaration
1957 Treaty of Rome
1986 Single European Act

Part 2: Creation of the single currency
1970 Werner Plan
Problems of the ERM
1989 The Delors Report
1991 Treaty of Maastricht
1999/02 Introduction of single currency

Part 3: Achievements relevant to financial services
1992 The single market - the "1992" programme
1999 FSAP - 1999 update of the single market

Part 4: Economic Governance
1979/2011 Development of the European Parliament
The Community method versus inter-governmentalism
2007 Treaty of Lisbon: Council and Parliament as co-legislators
2010 May: Effective decision for "political union"
2011 December: the International Agreement

 

Lecture 2: The Politics of EU Financial Services Regulatory Architecture    
Part 1: SEM and Financial Services
The single market : '1992' programme
FSAP - 1998 update of the Single Market

Part 2: Driving the FSAP reforms forward
Commissioner Monti 1995-1999
Commissioner Bolkestein 1999-2004
Commissioner McCreevy 2004-2010
Commissioner Barnier 2010-2014

Part 3: Lamfalussy Process: financial integration = political integration
The Wise Men's mandate
The "four level" process
CESR, CEBS, CEIOPS
Parliament and Council co-decision
Lisbon Treaty

Part 4: Current financial regulation architecture - the 2010 package
De Larosière Group report
Key regulatory powers to European level
ESMA, EBA, EIOPA

 

Lecture 3: The Global Financial Crisis of 2007 and Onwards: The Global and EU Responses

Part 1: The Rise of the G20
Washington -2008
London - 2009
Pittsburgh - 2009
Toronto - 2010
Seoul - 2010
Cannes - 2011

Part 2: Globalisation of Financial Regulation
BIS
BCBS
IOSCO
IASB
IAIS
CPSS
FSB

Part 3: EU Responses (as at Autumn 2011)
Commission response to G20
Key Events - 2010/11
AIFMD
CRA
CRD III
EMIR

 

Lecture 4: The 2010 regulatory reform package – implications

Part 1: Powers
Council and Parliament
Commission
The Meroni Judgement and Comitology
Authorities

Part 2: Regulations and Directives
What is a Directive?
What is a Regulation?
The original request to Lamfalussy
Transposition problems of Directives
Solution: more Regulations

Part 3: Current financial regulation architecture - the 2010 package
De Larosière Group report
Key regulatory powers to European level
ESMA, EBA, EIOPA

Part 4: Impact on national regulations e.g. UK
Primacy of EU-level legislation
National regulators freedom to act
Role of FSA


About Graham Bishop


GrahamBishop.com was founded in July 2000 to bring our clients the direct insights that flow from Graham’s position as a leading technical analyst of economic and structural developments in the financial markets of Europe.


GrahamBishop.com is engaged with the key participants in this rapidly changing environment: Investors, issuers (government and private), politicians, officials, central bankers, providers of the market infrastructure, academics, the media and other interested parties. Our contacts span the EU: at the European level, they include the Parliament, Commission and Central Bank as well as representative bodies and think tanks. In many Member States, contacts cover the same breadth of participants. Our aim is to bring our members into contact with others in these groups and, especially, the opinions that flow from participants with such different perspectives.

 

The proximity to the policy formation process stems from Graham’s standing with the European Commission, the European Central Bank and European Parliament. This enables us to interpret economic and political developments with authority and insight. Moreover, we have close links with many think tanks in London and Brussels and the Brussels for Breakfast meetings in many EU financial centres give a particular insight into the interaction of market participants and regulators around the EU.

 

by David Zetland

“The End of Abundance is a unique and exemplary book. It is a treasure chest of economic insights on water scarcity - a vitally important policy problem. Economics is all about choices that people make under conditions of scarcity. This book is highly readable and well-informed, provides many real-world examples, suggests solutions, and clearly explains key concepts to non-economists. Policymakers, managers, engineers and concerned citizens should read it.” Eran Binenbaum, Lecturer
School of Economics, University of Adelaide


"Water is the most precious commodity there is, and yet, most of us don't think much about it. It's availability in seemingly unlimited quantities, and at almost no cost, just by turning on the tap. But the age of water abundance is coming to an end, as David Zetland explains. Unlike many authors in this genre, Zetland does not try to terrify us with apocalyptic scenarios of water wars and mass starvation. Rather, writing in an engaging and informal style, he gives us a realistic assessment of the impending age of water scarcity and how we will need to change our ways to deal with it. Read this book - you'll never think the same way about water again!" John Quiggin, Australian Research Council Federation Fellow, University of Queensland

Description


In a past of abundance, we had clean water to meet our demands for showers, pools, farms and rivers. Our laws and customs did not need to regulate or ration demand. Over time, our demand has grown, and scarcity has replaced abundance. We don't have as much clean water as we want. We can respond to the end of abundance with old ideas or adopt new tools specifically designed to address water scarcity.

In this book, David Zetland describes the impact of scarcity on our many water uses, how the institutions of abundance fail in scarcity, and how economic ideas and tools can help us direct water to its highest and best use. Written for non-academic readers, The End of Abundance provides examples, insights and ideas to anyone interested in the management of our most precious resource.

Contents


Prologue
The beginning of the end
Part I: Personal water choices
1    Water from the tap]
2    Dirty water
3    The liquid lifestyle
4    Water for profit
5    Food and water
6    Water for power for water
Part II: Social water choices
7    Managers and politicians
8    Dams, pipes and pumps
9    Water and the environment
10  Weather and climate change
11  A human right to water
12  Water wars

Afterword: What you can do
Acknowledgements
Glossary
Notes to the text
Works cited
Index

Reviews


“A joy to read, this book has a pragmatic focus. It looks for solutions to one of the world's biggest challenges - water scarcity. Read the contents page and then decide if you need to read more.” Mike Young, Professor and Executive Director, The Environment Institute,  The University of Adelaide, Australia


“Disruptive and provocative, Zetland is the Ben Franklin of water. He hurls common sense against professional aristocrats to ensure our priceless liquid asset belongs, democratically, to 7 billion amateurs like you and me. “ James Workman, Author
Heart of Dryness


“Incentives matter. Zetland provides engaging narratives on the interaction of rules, institutions and people that communicate economics ideas far better than mass media and popular culture do.” Jay Wetmore, P.E., past President, American Society of Civil Engineers (MN)


“With economics at the centre of present-day international water diplomacy of national governments, this book could hardly be more timely. David Zetland touches upon the current issues of water resources management and puts them in an economic context that sheds light beyond the obvious and well-trodden pathways towards sustainable development.” Michael van der Valk, Hydrologist and Scientific Secretary
The Netherlands National Committee IHP-HWRP (UNESCO & WMO)


“Bold, provocative and refreshing - Zetland brings common sense to the water scarcity discussion.” Spreck Rosekrans, Senior Analyst, Environmental Defense Fund


“With his straight-forward writing style and mastery of the subject, Dr. Zetland delivers an accessible interpretation of how economics can (or should) impact water policy.” Richard Rauschmeier, Financial Examiner, Division of Ratepayer Advocates, Water Branch, California Public Utilities Commission


“Incentives matter. David Zetland explains why in his plain-speaking tutorial book on water. It informed me, and I thought I knew all this stuff already. If you want to understand how water should be managed, read The End of Abundance.”John F. Raffensperger, Senior Lecturer , Mnagement Science, University of Canterbury


“This book is impressive! Zetland has been able to capture the complexity of water without confusing the reader. This is a clear cogent "reveal" of a very difficult economic topic and yet simultaneously quite easy to enjoy as a book. “Robert O'Donnell, General Manager, AquaNexus


“Water is the most precious commodity there is, and yet, most of us don't think much about it. It's availability in seemingly unlimited quantities, and at almost no cost, just by turning on the tap. But the age of water abundance is coming to an end, as David Zetland explains. Unlike many authors in this genre, Zetland does not try to terrify us with apocalyptic scenarios of water wars and mass starvation. Rather, writing in an engaging and informal style, he gives us a realistic assessment of the impending age of water scarcity and how we will need to change our ways to deal with it. Read this book - you'll never think the same way about water again!” John Quiggin, Australian Research Council Federation Fellow, University of Queensland


“David Zetland has written a very informative, accessible and necessary book which explains the reality of water scarcity and the imperative of applying sound economics and local control to what was previously the exclusive preserve of engineers and politicians. In fact, it is a book that every water engineer and local politician should read to their benefit and that of their customers and citizens.”  G. Tracy Mehan, III, former Assistant Administrator for Water, US Environmental Protection Agency


“One of the biggest challenges faced by the water industry is simply poor public understanding of the issues we face, and a paucity of effective public education vehicles regarding water availability and consumption. If more people better understood the actual challenges and issues of global water resource management, we would have fewer problems. David Zetland's book should be a significant contribution towards meeting this need - by carefully assessing, through the lens of economic theory, the water choices and actions that we all participate in every day.” Steve Maxwell, Managing Director, TechKNOWLEDGEy Strategic Group, Author of The Future of Water, Publisher of the annual Water Market Review


“At a time of growing concerns about the availability of fresh water world wide, markets can play an important role in more effective allocation and management of this scarce and valuable resource. David Zetland's End of Abundance introduces economics into everyday decision making about water in an original and engaging way. The material is valuable not only for policy makers, but for each of us in better understanding the challenges and potential solutions to a growing water crisis.” Gary D. Libecap, Donald Bren Distinguished Professor, Donald Bren School of Environmental Science & Management, Professor of Economics, University of California, Santa Barbara, Pitt Professor, Economics Faculty, Cambridge University
Research Associate, National Bureau of Economic Research, Sherm and Marge Telleen Research Fellow, Hoover Institution, Senior Fellow, Property and Environment Research Center


“A primer for talking about the fundamental elements of water management: Scarcity, Allocation, Value.” Paul W. Lander, PhD, LEED AP Lecturer, Geography & Sustainable Practices Program, University of Colorado, Chair, ASLA Water Conservation Network & AWWA WaterWiser Committees


“David Zetland understands and explains that efforts at sustainable water management are well-served by a no-nonsense economic analysis of overuse and pollution. Amid the commentary it is incentives that matter most.” Piet Klop, Senior Fellow
World Resources Institute


“Zetland writes with a lively, engaging style that conveys the urgency of thinking differently about water policies, and communicates both the efficiency and the humanity of market-based water policies and the innovations that such policies would encourage.” Lynne Kiesling, Distinguished Senior Lecturer, Northwestern University and Knowledge Problem


“There are plenty of articles and books on water scarcity but few offer the insight and economical framework that are necessary to understand and address this scarcity. The End of Abundance is a significant contribution to the contemporary discourse on water management and is a must-read by anyone who cares about water or wants to learn about the issues. The book is refreshing in its candor and irrespective of whether you agree with all of its prescriptions, it is informative, factual and a delight to read.” Shahram Javey, Ph.D, Founder and CEO of Aquacue, Inc.


“A thought-provoking challenge to many current water management and pricing practices, Dr. Zetland's book will catalyze the debate we need to have on the economic value of water. Required reading for water leaders throughout the world.” Kevin P. Hunt, P.E., General Manager, Municipal Water District of Orange County


“The End of Abundance is an enthralling and witty account of a serious warning for all of us. Either we accept paying more for the water we consume, or else we let politicians do the daunting of job of allocating scarce water resources. Blogger and economist Zetland poses the right choices and suggests how to turn wishful thinking into viable outcomes.”  Alberto Garrido, Director and Professor, Research Centre for the Management of Agricultural and Environmental Risks, Department of Agricultural Economics and Social Sciences, Universidad Politécnica de Madrid


“The book is full of interesting new considerations, sharp writing and innovative thinking. Although I do not agree with everything David says, I appreciate his straightforwardness in the debate on sustainable water use. Well worth reading to get David's perspective on the water world.” Carlo C. Galli, Technical & Strategic Adviser, Water Resources, Nestlé


“I've been in water since 1993 and have looked hard for an economist who really understands water and its markets. David Zetland is the find, and I'm so thankful that he continues his blog and his writing. We MUST move to smart market based management of our water or we will continue to have shortages. We now have solid real models that show that markets work and politics - so far as water management - do not.” Ric Davidge, MPA, Chairman, AQUEOUS International, Inc.


“David helped me understand the importance of applying market-based pricing to address water scarcity. Not an easy task, but he does so convincingly, and places it in the context of today’s complex social and political realities. An engaging read for anyone interested in water.” Terry A. Clark, AICP, PMP, Senior Consultant
Cardno ENTRIX


“An economist with a sense of humor examines the dark clouds of California's pending hydrological apocalypse and finds a silver lining.” Lloyd Carter, President
California Save Our Streams Council

“The most thoroughly-researched treatise on water economics I've ever read. The End of Abundance sets a precedent and creates a water/road map for world water managers. David manages to maintain a wry sense of humor inside a sobering exploration of population growth, waste ignorance, unbridled water withdrawal, pure greed, entitlement and blatant disregard for the very substance that makes up 80 percent of our bodies. Demand exceeds supply in many parts of the world, and it will here also unless we embrace aguanomics to intelligently use of our most precious resource. I'm making this mandatory reading for my staff... they need to get this.” Michael Christian, CEO and President, American Hydroponics


“This is an engaging and readable book on a topic of growing importance. It shows how simple economics can help solve our problems of growing water scarcity. I recommend it strongly.”  Martin Cave, BP Centennial Professor
London School of Economics


“If David Zetland's End of Abundance is like his aguanomics blog - witty, intelligent, iconoclastic, unrepentant, and provocative - then it's going to be quite a ride.”Michael E. Campana, Professor, Hydrogeology and Water Resources, Oregon State University


“This is not a text for those seeking a rehash of the standard "water wars" catechism. Zetland outlines a fresh, creative approach to allocating a valuable resource in regions with competing demands. Importantly, his vision does not entail an expensive and sluggish command-and-control bureaucracy coddling whatever class of water users happen to enjoy momentary political favor. Protecting our environment, growing our food, and supplying our cities has always required the ingenuity of a free people. It is time we realized that in managing our water.” Philip Bowles, President, Bowles Farming Company


“Seldom in my experience has any politician ever stood up and said "There is a principle here, and that principle is worth losing an election over." The End of Abundance offers principles on how to balance supply and demand in the provision of water to the world and suggests that voters will accept them. Now all we need are some brave politicians.” Max Borchardt, Australia Editor, Global Water Intelligence


“The End of Abundance is a unique and exemplary book. It is a treasure chest of economic insights on water scarcity - a vitally important policy problem. Economics is all about choices that people make under conditions of scarcity. This book is highly readable and well-informed, provides many real-world examples, suggests solutions, and clearly explains key concepts to non-economists. Policymakers, managers, engineers and concerned citizens should read it.” Eran Binenbaum, Lecturer
School of Economics, University of Adelaide


“Zetland is never traditional, usually informative, and always provocative. The End of Abundance is no exception. It will definitely open your mind to innovative approaches to close the gap between water supply and demand.” Dan Bena, Senior Director of Sustainable Development, PepsiCo, Inc.


“The End of Abundance is a healthily provocative wake up-call. The book challenges the status quo and the most entrenched preconceived ideas to lead us to the realization that water managers facing scarcity can no longer solely focus on ensuring water supply and system management but must create the dynamic leading to the actual management of water itself. David suggests a profound shift of perspective that brings a new dimension to the water world: economics.” Laurent Auguste, President and CEO, Veolia Water Americas

Author


David Zetland is a senior water economist in the Department of Environmental Economics and Natural Resources at Wageningen University in the Netherlands where he is working on an EU-funded project, "Evaluating Economic Policy Instruments for Sustainable Water Management in Europe." David received his PhD in Agricultural and Resource Economics from UC Davis in 2008. He was a S.v. Ciriacy-Wantrup Postdoctoral Fellow in Natural Resource Economics and Political Economy at UC Berkeley from 2008 to 2010. He blogs on water, economics and politics at aguanomics.com

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Book 1 in the new series 'Customer Experience Without Borders'

by Christophe Langlois

 


Published: June 2011

ISBN 978-1-907720-15-4

266 pages

Download the free Introduction  here

Download the full Contents  here


PDF/ebook: UK £31.99 + VAT/EU €37 + VAT/RoW US$51

Paperback: £39.99/US$64.00//€46..66 plus p&p

A Practical Guide to Social Media in Financial Services - PDF £38.39 Add to Cart

A Practical Guide to Social Media in FS - ebook £38.39 Add to Cart

A Practical Guide to Social Media in Financial Services - Print £39.99 Add to Cart

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Description


new_Langlois3_fr_hi-resEverything you ever wanted to know about social media in financial services ... but were afraid to ask

Web 2.0, Twitter, Facebook, YouTube, blogging, virtual worlds … is social media all a bit unfamiliar as a working tool? All a bit smoke and mirrors? Do people really want to interact with their financial services providers in cyberspace? What about the potential for reputational risk? And there’s no bottom-line impact, surely?  Best just leave it to the marketing people ….

WRONG! The benefits of leveraging social media go well beyond marketing. Blogs, YouTube, Twitter and Facebook have quickly became essential tools to manage reputation, foster innovation, develop new products, strengthen customer relationships and satisfaction, drive customer advocacy, aid recruitment, and increase market share.  Social media has increased expectations: now your customers expect you to show you listen to them – they want to be able to trust you. And word of mouth is increasingly powerful: it is critical to know who your key influencers, advocates and, yes, your detractors, are, and to find the best way to engage with them.

So, you need a complete social media strategy. And A Practical Guide to Social Media in Financial Services contains everything you need to get it.  It offers a pragmatic approach to social media in our heavily regulated financial services industry.  Its compelling theme is how to create an ever greater customer experience through engaging with them and rewarding them for their support.

 



A Practical Guide to Social Media in Financial Services is both a start-up guide for the social media novice and a best practice guide for the more experienced.  In it, you’ll find all you need to know about:

•    Judging and assessing your social media operation;
•    Proving the business case and ROI (get a copy for your Chief Financial Officer);
•    The commonly made mistakes (and how to avoid them);
•    Recruiting and managing talent, working with, not against, your social media team, improving worker relations, and breaking silos;
•    Best practice by banking market and segment;
•    The most comprehensive financial social media case book ever assembled;
•    Learning the lessons and assessing the contribution of those who didn’t execute their initiatives properly;
•    The more challenging questions you need to be asking a social media software vendor;
•    And, of course, a forecast of where the industry might go next.

The risk of not embracing or at the very least acknowledging social media is considerable. So … what are you going to do about it?


Contents

Summary contents
Chapter 1 Social Media: Understanding the opportunity…
Chapter 2 Leadership 2.0: yes, Senior Executives can tweet and blog too
Chapter 3 HR, Recruitment, and Personal Branding
Chapter 4 Reputation, Risk and Moderation
Chapter 5 Public Relations 2.0: Towards more engagement
Chapter 6 Loyalty & Voice Of the Customer: turning your customers into brand ambassadors
Chapter 7 Stories: connecting with emotions and experiences, not financial products
Chapter 8 Innovation: Crowdsourcing, Foursquare and Labs
Chapter 9 Promotion, Contests and REWARDS
Chapter 10 Facebook: benchmarking 800+ Pages in 70 countries
Chapter 11 Twitter: benchmarking 1,400+ accounts in 70 countries
Chapter 12 From KYC to KYF: Know Your Followers/Fans
Chapter 13 Building Successful Online Communities14 Other Social Media Initiatives: corporate blogging, personal finance management, enterprise 2.0, virtual worlds

Reviews


"Christophe has taken a comprehensive and well researched look at the emergence of social media in the retail financial services space. What is impressive, is the broad level of involvement he's had from industry players from such a wide geographical context.

If you're in banking or financial services and you're starting out, or you are looking to tweak your social media strategy with a few new tricks and strategies, then "A Practical Guide to Social Media in Financial Services" should be the first book on your to-read list.

The case studies are what make this book because they are real, actionable and are in place today!" Brett King, Author - BANK 2.0

“Christophe is an industry leader and a true visionary. I've been reading his work for some time and had the pleasure of working with him. His sharing of keen insight, opinion and direct connections to leading industry members was exceptionally valuable. If you want to stay on top of what is happening in this space, stay connected to Christophe and point your RSS reader to his blog.” Michael Neil, Vice President Online Strategy, Merrill Lynch

“Christophe has been a great sounding board and provided valuable encouragement for our social media activities at ubank.com.au. Christophe combines deep understanding of social media with a keen eye on commercial outcomes which is rare in this young space.” Gerd Schenkel, Managing Director, UBank (part of National Australia Bank)

“Christophe's blog, Visible Banking, is a source I refer to often in my quest to keep up with viewpoints on the future of banking. His insights are always helpful, and I value his feedback on our own social media marketing efforts.” Ed Terpening, VP Social Network Marketing, Wells Fargo

“Christophe has written a very valuable and in-depth analysis of the site Fortis launched for entrepreneurs, join2grow.biz. He maintains a superb site, visible-banking.com, where he educates us with real passion on Web 2.0 initiatives. It was a real pleasure to meet Christophe in real life, and I can recommend to everyone in the banking industry with plans to launch a web 2.0 site to contact Christophe to discuss their idea.” Catherine Ossemerct, Head of Media Channels, Fortis

“Christophe exceeds expectations in delivering innovative, top class insight with a hands on and actionable approach. If you need to get your social house in order, or just looking to redecorate, Christophe is your man.” Jonathan Elliott, Head of Web Analytics,UniCredit Group


Author

Christophe Langlois is a trusted advisor, an active blogger and business networker. He spent most of his career in banking and financial services covering the EMEA region.

In 2007 Christophe founded Visible-Banking.com, which quickly became the leading independent blog 100% focused on social media in banking, financial services and insurance.

In 2008 Christophe left his Senior Innovation Manager role at Lloyds TSB, one of the major banks in the UK, to set up Visible Media Ltd and help financial institutions to better understand and leverage social media.The Visible Banking Team now tracks over 2,400 initiatives from financial institutions in 70+ countries on twitter, facebook, youtube and blogs (April 2011).

We invite you to join the conversation on
•         The Visible Banking blog (http://Visible-Banking.com)
•         The Visible Banking facebook page (http://Facebook.com/VisibleBanking)
•         The Visible Banking twitter account (http://Twitter.com/Visible_Banking)

 



 

 

Buy now
Book 2 in the Keys to Sales Success series – the compete guidance package for sales professionals

By Sandy Vaci

 

Recommended by industry leaders from MasterCard Worldwide, Citigroup, UniCredit, RBS India, AIG/AIU, The Conference Board of Canada, EFMA and the Lafferty Group – a new book that represents the best investment in your sales performance you can make

 

Published: 10 December 2010

ISBN 978-1-907720-11-6

154 pages, paperback

Print: £49.95/US$80.00//€57 plus p&p

PDF: UK £39.95 + VAT/EU €45.60 + VAT/RoW US64.00

Channel Innovation in Financial Services - Print £49.95 Add to Cart

Channel Innovation in Financial Services - PDF £47.95 Add to Cart

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Discounts are available for multiple purchases, so why not share the knowledge with your team? Contact us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it for details.

Download the Introduction  here

Description


How do I set up a sales agent network? How will I control it? How much time will it take to build? How should I layer functionalities across different electronic channels? How to design the best contract for brokers and alliance partners? Are there any templates I can trust to evaluate potential branch locations? What to ask for in terms of customer relationship management (CRM) to best integrate my sales channels? How should my service quality benchmarks change across channels? What works, and what does not, in ‘social media’ channels? What could be the next big thing in internet banking? What is ‘community banking’ and how can I use it to build my network? If you ever asked yourself questions like these, this book is for you. Channel Innovation in Financial Services: A Practitioner’s Guide to Development and Integration gives you a practical guide through the many different channel possibilities that exist today in financial services, with examples, implementation templates, case studies, ‘to dos’ and ‘watch out fors’.

Contents

Introduction

Chapter 1    Branches – the basics
Location selection
Macro criteria
Micro criteria
Macro scorecard
Examples
Comments
Micro scorecard
Premises
Results to be expected

Chapter 2    Branch agents – ‘near sourcing’ to local entrepreneurs
Definition
Different concepts
Benefits
Key benefits to banks
Benefits to agents
Consumer benefits
Control
Start-up support
Overview
New versus existing locations
Interest-free loan
Promotional budget
Rental subsidy
Training
Salary
Financial implications
Location
Premises
Size
Appearance
Layout
Products
Services
IT support
Organisation
Staging the introduction
Organisational level of agents
Integration and reporting
Support functions
Recruitment
Training
Risk management
Control and audit
Legal / regulatory
Contract
Overview
Duties and authorised activities
Exclusions
Remuneration
Scope of contract
Commission
General commission design
Commission structure
Key questions
Knock-out criteria
Sample commission structure
Financials
Comparisons
Implementation
Summary
Case study 1: Volksbank's Romanian branch agent (branch franchise) set-up  
Case study 2: Branch franchising and kiosk combination by ING
Case study 3: Community banking, using the agent banking model in Australia

Chapter 3    Sales agents – single-minded focus on acquisition efficiencies
Overview
Definition
Different concepts
Benefits
Case study 4: Limited promotional sales agent test
Case study 5: Ongoing national sales agent test
Products
Number of products
Types of products
Additional products
Product sales process
Services
IT support
Other support
Control, risk management, audit
Organisation
Roles and responsibilities
Career progression
Training
Start-up training
Ongoing training
Recruiting and dismissals
Recruiting process
Success factors
Dismissals
Contract
Remuneration
Starting up the commission system
Commission structures
Sales agent commissions
Team leader / senior leader commissions
Financials
Implementation
Summary
Appendix A – Sample prospect contact rules for sales agents
Appendix B – Sample sales agent contract
Attachment No.1
Attachment No.2
Attachment No.3
Attachment No.4
Attachment No.5
Appendix C – Sample list of content for sales agents' handbook

Chapter 4    Intermediary channels: maximising third-party relationships
Introduction
Basic principles
Case study 6: Example 1 – North America
Case study 7: Example 2 – Europe
Contracts – overview
Third-party types
Financial intermediaries
Retailers – point-of-sale (POS) sales finance
Other
Benefits
Benefits to partners
Watch-outs
Case study 8: Operational cost problems
Structures
Joint ventures
Revenue / cost / profit share
Straight commission system
Compensation
New sales versus portfolio
Commission plus incentives
Floor price approach
Other support
USPs
USPs for end-customers
USPs for intermediaries
Additional USP for both
Physical and process designs
Physical set-ups and integration
Retail POS finance
Process design
Sales generation
Direct sourcing
Broker sourcing
Retailer sourcing
Funds disbursement options
Loan repayment options
Customer ownership
Communicating through intermediaries
Partner selection
IT requirements

Chapter 5    Remote electronic channels: the limits of cost efficiency
Traditional electronic channels
Overview
Main types, roles and evolution
Telephone banking
Internet banking
ATMs
Kiosks
Challenges
Addressing the challenges
New types of electronic channels
Mobile banking
New internet developments
Virtual money
Virtual banking
Peer-to-peer banking
Social media-based channels

Chapter 6    Buying, managing and controlling your channels
Introduction
Mergers and acquisitions – buying your channels
Due diligence checklist
Overall business strategy fit
Marketing and sales review
Customer base
Prospect base
Intermediary contacts
Brand strength
Marketing infrastructure
Distribution and service channels
Credit risk management / lending products portfolio
Savings and deposits products portfolio
Personnel
Information technology, other
Customer relationship management – managing your channels
Definition
Key issues
Benefits
Alignments needed
Architecture
Case study 9: How things can go wrong with CRM implementation
Service quality – controlling your channels
Appendix A – M&A evaluation guidelines summary – a sales / marketing perspective
Reason
Components to review
Values to be assigned
Appendix B – CRM architecture – summary of basic business requirements
Marketing data mart
Contact management / sales force automation
Marketing planning
Appendix C – Service standards definition and measurement – sample outline for branches
Basic deliverables
SQ dimensions
Methods of measurement
Service standards (benchmarks, expectations)
Appendix D – Service standards definition and measurement – sample outline for call centres
Basic deliverables
SQ dimensions
Methods of measurement
Service standards (benchmarks, expectations)

LIST OF TABLES AND FIGURES

Table 1.1:    Branch break-even and payback benchmarks
Table 2.1:    Indicative cost models
Table 3.1:    Portfolio growth
Table 3.2:    Portfolio growth without sales agents
Table 3.3:    Bank sales network dynamics
Table 3.4:    Sales schedule for new sales agents
Table 4.1:    POS sales finance partner selection and approach checklist
Table 4.2:    Additional POS sales finance partner selection checklist
Table 4.3:    Sales expectations
Figure 3.1:    Organisational structure – integrating sales agents and their managers
Figure 3.2:    Sales agent recruitment process
Figure 4.1:    Personal loan sales and operations process design – retail store and direct sourced
Figure 5.1:    People completely or somewhat trusting forms of advertising (%)

 

Click here for full contents in PDF format: A_Practitioners_Guide_to_Channel_Innovation_Contents.pdf

 

Reviews

"If you want a true 'hands-on guide' to best practices in today's global retail banking, this book is for you.  Sandy Vaci never disappoints. His new book is full of practical advice – the kind banking professional everywhere can use to turbo-charge their sales activities. Highly recommended!"
Patrick Desmarès, Secretary General, EFMA (European Financial Management & Marketing Association)

"Channel development and integration are some of the toughest issues retail bankers face in all markets. Make your life easier. Buy this book and read it – for the best guidance you will ever get!"
Michael Lafferty, Chairman, Lafferty Group

"Clear, concise and focused on the challenging  role of building a retail presence under different models. I'm sure I would  have benefited had I had access to Sandy Vaci's insights when I was building networks earlier in my career."
Michael D. Weitzman - Group Executive, MasterCard Worlwide (Customer Delivery - US Markets)

 

"This book is an insider's guide to execution. The best practices, latest benchmarks and implementation templates are business secrets which your competitors would not want you to know."
David Lim, Vice President, AIG / AIU (China, Hong Kong, Taiwan) (2006-2009)

“Practical, comprehensive, insightful. Will definitely form part of my office library.”
Puneet Bahl, Head of Retail Banking, The Royal Bank of Scotland Group, India

"These books do what their titles promise. They deliver an easy-to-use, hands-on overview of best practices. The reader will find tips for selling and sales management, with concrete examples from the financial services industry. "
Noel Cramer, Citigroup Product Head - Divestitures, EMEA Region

 

"A remarkable reading and effective practical guide. It presents alternative channels – sales agents, intermediaries, electronic channels – as an integral part of a financial institution's sales process, discussed through practical examples and case studies."
Zoltan Major, Executive Vice President, UniCredit, Central Eastern Europe

"An exceptional, comprehensive and practical review of the pitfalls and opportunities inherent in building a channel strategy for your financial services organisation.  And who better to provide this than a man with decades of real-world experience including stints with several top-tier global banks?"
Perry Eisenschmid, Vice President, The Conference Board of Canada

 

Author

thumb_Author_picSandy Vaci is an international bank executive with 30 years’ experience across four continents, in close to 50 countries. He has held executive positions at companies such as Citibank’s Global Consumer Bank, Procter & Gamble, the Royal Bank of Scotland Group, Raiffeisen International and the Canadian Imperial Bank of Commerce.

He is currently Senior Lecturer in Marketing and Sales at the Maastricht School of Management and the Business School of Central European University. He is also Chairman of the Supervisory Board of the Credit Bank of Moscow and advises a wide range of companies on global best practices. His client list includes Barclays Bank, UniCredit Group, Eureko Insurance, Unilever, and the National Commercial Bank of Jamaica.

As a true ‘global citizen’, Sandy has three home bases (Toronto, Vienna, Budapest) which he shares with his wife of 25 years, Judit.

 


Book 1 in the Keys to Sales Success series – the compete guidance package for sales professionals
By Sandy Vaci

 

Recommended by industry leaders from MasterCard Worldwide, Citigroup, UniCredit, RBS India, AIG/AIU, The Conference Board of Canada, EFMA and the Lafferty Group – a new book that represents the best investment in your sales performance you can make


Print edition

Published: 10 December 2010

ISBN 978-1-907720-03-1

230 pages, paperback

Print: £49.95/US$80.00//€57 plus p&p

PDF: £39.95 + VAT/EU €45.60 + VAT/ RoW US64.00

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Download the Introduction  here

Description



Financial services sales professionals need a practical guide to sales – something that summarises all the key elements of selling and sales management in their field and provides practical examples, case studies, benchmarks and implementation templates. Based on the distilled experience of the author’s 30 years in the business, it’s packed full of practical tips. Who cares about the strategic importance of selecting the best branch location if you don’t know how to do it in practice? What are the specific rules of cross-selling – what, to whom, when and why? How should you set up your organisation cross-border? How should you manage your sales team on a daily basis by leading indicators, to guarantee success? Sales and Sales Management in Financial Services: A Hands-On Guide to Global Best Practices answers these key questions and more.

Contents

Introduction            

Chapter 1    Branches – an integrated approach to boost sales efficiencies            
Location selection
Macro criteria
Micro criteria
Macro scorecard
Examples
Comments
Micro scorecard
Premises
Results to be expected
Alignments
Business objectives
Target segments
Overall annual department / division plans
Activity plans
Cross-functional sales processes
Cross-functional capacity planning
Case study 1: Medium-sized European bank
Components of ‘sales’
Organisation
Management
Processes
Skills
Integrated approach to boost sales efficiencies
Capacity planning
Definitions
Capacity measurement
Capacity reallocation
Training
Overview
Basic selling skills
Proactive selling
Sales management basics
Product knowledge
Management and people skills
Advanced training modules (on demand)
Sales planning and objective-setting
Sales planning within overall sales management
Planning the way to success
Leading indicators
Conversion efficiencies
Alternative approaches
Planning for objectives
Information collecting
SWOT analysis
Target segments
Agreeing objectives
Communicating goals
Sales management
Branch calendars, branch action plans
Individual sales action plans
Other elements
Sales meetings
Daily huddles
Weekly one-on-ones
Weekly branch meetings
Monthly branch meetings
Sales processes
Reactive sales processes
Proactive sales processes
Contact selection
Session preparation
Conduct session
Follow-up
Analysis
Cross-selling
Process differences by segment
Premium segment
Small businesses
Movement between segments
From core to premium
From micro to small, from small to medium…
Sales process closure – ‘watch outs’
Tracking and rewards
Tracking
Balanced scorecard components
Reward systems
Variable sales compensation
Case study 2: Eliminating objective-setting
Other enablers
Organisational set-up and management support
Operational processes and capacity
Marketing support
Channel integration
IT support
Case studies 3 and 4: Benchmarking – integrated branch sales boost tests
Case study 3: Test 1
Case study 4: Test 2
Business results
Customer satisfaction results
Employee satisfaction results
Appendix A – Simplified sales diagnostic kit
Appendix B – Sample activity tracking tool for capacity measurements
Appendix C – Sample list of SWOT analysis questions
Appendix D – Sample scenario design and scripting exercise
– proactive cross-selling call to a customer
Appendix E – Cross-selling overview and templates
Appendix F – Recommended areas to cover in balance sales scorecards

Chapter 2    Needs-based personal selling and the consultative approach        
Summary
The three Es principle
Consumer needs
Life needs versus financial needs, hidden needs versus obvious needs
Case study 5: Consumer needs assessment
Life cycle-based needs
Life cycle modifications: wealth, sophistication, ‘other’
Case study 6: Understanding consumer sophistication
Rational versus emotional needs
Time horizon dependence
Case study 7: Time horizon planning
What does research say?
Case study 8: Quality of service
From needs to sales – pulling it together
HNWI investment sales – the five-step process
Using it all – personal selling
Basic concepts
Key pointers
Advanced pointers
Getting the most
Closing techniques
Recap

Chapter 3    Global best practices – overview        
‘No-one is afraid of selling’
‘Everyone sells’
‘Everything is process-driven and focuses on building profit’
‘Branch staff have a clear focus on cross-selling and service quality and a plan to deliver them’
‘Doing it right is second nature’
Case study 9: Pulling it all together

Chapter 4    Promoting change – implementation guide for best practices        
Introduction
The proposal
Content
Background / overview – findings of Phase 0 (already completed)
Objectives / deliverables – benefits of Phase 1
Measuring success – decision framework
A)  Project execution
B)  Infrastructure implementation
C)  Business results
D) Payback and project efficiency
E) Residual benefits
Delivery options – timing, cost, methodology
Phase 1A
Timing
Cost
Methodology
Phase 1B
Phases 1C and 1D
Phase 2A
Phase 2B
Roles / responsibilities – supplier and client
Responsibilities of consultant / supplier
Responsibilities of client
Terms and conditions
Payments
Confidentiality
Engagement and cancellation
Other
Case study 10: Detailed implementation guide of best practices
Attachment 1: Project phases and options – Phases 0 and 1 (including Phase 1 options)
Comments / summary
Attachment 1 (continued): Project phases and options – Phase 2 options
Comments / summary
Attachment 2: Bank's resource requirements – Phase 1, Option A
Comments / summary
Attachment 3: Sales boost project – Phase 1A building blocks

Chapter 5    International sales organisations: moving cross-border        
Benefits for the bank
Benefits for the sales function
International set-ups
Segment reporting
Geographic reporting
Matrix structures
Matrix sales structures
Changing the structure
Some issues (and how to address them)
The speed of change may differ in a new market
Information taken for granted in the home market may not be available
People may not understand your offer
Your basic sales tools may not be available
Cover the downside well (better than at home)
Be ready to simplify, supplement or supply processes
Financial services regulations could be different
Target segments may be different
People define financial terms differently
Different overall regulatory frameworks drive different customer attitudes
Delivery channels develop at a different pace
Customers react differently to promotions and other offers

List of Tables
Table 1.1:    Branch break-even and payback benchmarks
Table 1.2:    Cross-functional sales process example
Table 1.3:    Sales capacity (% time) allocation between proactive and reactive sales staff
Table 1.4:    Conversion efficiency benchmarks
Table 1.5:    Setting objectives
Table 1.6:    Sample branch action plan
Table 1.7:    Sample branch activity calendar
Table 1.8:    Sample staff action plan
Table 1.9:    Sample tracking card
Table 1.10:    Sample contact follow-up chart
Table 1.11:    Percentage of total cash compensation earned as variable component
Table 1.12:    Tier-based reward system
Table 1.13:    Test 2 results from phase 1 and phase 2
Table 1.14:    Sales diagnostic template
Table 1.15:    Capacity measurement tool
Table 1.16:    Product-based cross-sell grid
Table 2.1:    Consumer needs differentiation
Table 2.2:    Consumer needs – overall vs. financial
Table 2.3:    Consumer needs – wealth versus age-based grid
Table 2.4:    Consumer needs – from rational to emotional
Table 2.5:    Research-based consumer needs – high level
Table 2.6:    Research-based consumer needs – specific
Table 2.7:    Never do cold calls!
Table 2.8:    Needs-based personal selling – main points
Table 3.1:    Sales basics of the best – 1
Table 3.2:    Sales basics of the best – 2
Table 3.3:    Building relationships in person
Table 3.4:    Cross-selling – three ‘Rules of 3s’
Table 3.5:    Why cross-selling? Why this way?
Table 3.6:    Cross-selling – a simple template
Table 3.7:    Customer service quality
Table 3.8:    Service quality – for customers
Table 3.9:    Service quality – for the bank
Table 3.10:    Service quality – three things I must always do
Table 3.11:    Seven steps to sales success
Table 3.12:    Case study 9 pilot test – outline
Table 3.13:    Case study 9 pilot test – results
Table 3.14:    Case study 9 pilot test – successes and failures
Table 3.15:    Case study 9 pilot test – evaluation
Table 3.16:    Case study 9 pilot test – lessons
Table 3.17:    Case study 9 second test – outline
Table 3.18:    Case study 9 second test – key components
Table 3.19:    Case study 9 second test – key enablers
Table 3.20:    Case study 9 second test – sales meetings structure
Table 3.21:    Case study 9 second test – sales planning
Table 3.22:    Case study 9 second test – efficiency ratios
Table 3.23:    Case study 9 – roll-out
Table 3.24:    Case study 9 roll-out – efficiencies
Table 3.25:    Case study 9 – lessons
Table 3.26:    Best sales practices summary
Table 5.1:    Benefits of a central sales function
Table 5.2:    Key matrix issues
Table 5.3:    Sales – key roles
Table 5.4:    Central sales – interaction with local sales
Table 5.5:    Four-step international sales structure review

List of Figures
Figure 1.1:    An integrated approach to boosting branch sales results
Figure 1.2:    The sales efficiency cycle
Figure 1.3:    The sales management cycle
Figure 1.4:    Components of exponential sales growth
Figure 1.5:    Two examples of methods to boost sales
Figure 1.6:    Planning your way to success
Figure 1.7:    Sample decision tree for intervention, tracking leading indicators and conversion efficiencies
Figure 1.8:    Results of starting with cross-selling, then using skills developed for later prospecting
Figure 1.9:    Sample scenario planning exercise
Figure 2.1:    Product needs-based life cycle map
Figure 2.2:    Consumer needs – time horizon dependence
Figure 3.1:    Case study 9 second test – concept
Figure 3.2:    Case study 9 second test – term deposit results 1
Figure 3.3:    Case study 9 second test – term deposit results 2
Figure 3.4:    Case study 9 second test – loan results 1
Figure 3.5:    Case study 9 second test – loan results 2
Figure 3.6:    Case study 9 second test – credit card results 1
Figure 3.7:    Case study 9 second test – credit card results 2
Figure 3.8:    Case study 9 second test – service quality results
Figure 3.9:    Case study 9 roll-out – credit card results 1
Figure 3.10:    Case study 9 roll-out – credit card results 2
Figure 3.11:    Case study 9 roll-out – cross-sell vs. prospecting
Figure 5.1:    Segment reporting structure
Figure 5.2:    Early Citi set-up
Figure 5.3:    Geographic reporting structure
Figure 5.4:    Early GE Finance set-up
Figure 5.5:    Sample matrixed sales organisation
Figure 5.6:    Speed of market contraction in CEE
Figure 5.7:    Selling in an ‘unprepared environment’
Figure 5.8:    SMEs in CEE – tax avoidance issues
Figure 5.9:    SMEs in CEE – business opacity issues  Click here for full contents in PDF format: A_Hands-On_Guide_to_Global_Best_Practice_Contents.pdf

Reviews



"If you want a true 'hands-on guide' to best practices in today's global retail banking, this book is for you. Sandy Vaci never disappoints. His new book is full of practical advice – the kind banking professional everywhere can use to turbo-charge their sales activities. Highly recommended!"
Patrick Desmarès, Secretary General, EFMA (European Financial Management & Marketing Association)

"Full of templates, benchmarks, best practices, practical examples. Read it today. You'll be using it by tomorrow."
Michael Lafferty, Chairman, Lafferty Group

 

"As a retail banker with 26 yrs experience in the  US and  internationally I found the  book to be thoughtful and well structured, providing solid grounding in the development of a retail presence. The Scorecard logic is sound and practical. This book will help novice and experienced distribution planners alike and ensure that they have covered their options."
Michael D. Weitzman - Group Executive, MasterCard Worlwide (Customer Delivery - US Markets)

 

"An insider's guide to retail banking and best practices that can come only from a seasoned professional. Get it before your competitors do."
David Lim, Vice President, AIG / AIU (China, Hong Kong, Taiwan) (2006-2009)

“A must-read for all retail bankers, if they’re serious about accelerating growth.”
Puneet Bahl, Head of Retail Banking, The Royal Bank of Scotland Group, India

"These books do what their titles promise. They deliver an easy-to-use, hands-on overview of best practices. The reader will find tips for selling and sales management, with concrete examples from the financial services industry. "
Noel Cramer, Citigroup Product Head - Divestitures, EMEA Region

 

“Important reading for today's sales professionals. It presents sales as an integrated process – rather than just a set of commercial activities – discussed through effective case studies and concrete examples. Highly recommended for financial services salesmen and marketeers."
Zoltan Major, Executive Vice President, UniCredit, Central Eastern Europe


"This is very thorough, hands-on guide to sales management in financial services. It seems like a daunting task to summarise over 30 years of sales experience and tips into one book but Sandy has managed to do it. I can't think of a question or situation he hasn't covered!"
Perry Eisenschmid, Vice President, The Conference Board of Canada


Author

 

thumb_Author_picSandy Vaci is an international bank executive with 30 years’ experience across four continents, in close to 50 countries. He has held executive positions at companies such as Citibank’s Global Consumer Bank, Procter & Gamble, the Royal Bank of Scotland Group, Raiffeisen International and the Canadian Imperial Bank of Commerce.

He is currently Senior Lecturer in Marketing and Sales at the Maastricht School of Management and the Business School of Central European University. He is also Chairman of the Supervisory Board of the Credit Bank of Moscow and advises a wide range of companies on global best practices. His client list includes Barclays Bank, UniCredit Group, Eureko Insurance, Unilever, and the National Commercial Bank of Jamaica.

As a true ‘global citizen’, Sandy has three home bases (Toronto, Vienna, Budapest) which he shares with his wife of 25 years, Judit.



Get The EU Fiscal Crisis: Forcing Eurozone Political Union in 2011? and Understanding the EU Budget for only £20/€23.57/$32.22 + VAT (PDF)  (saving a total of £26.99/€29.39/$34.98)

 

The EU Fiscal Crisis: Forcing Eurozone Political Union in 2011?

In this important book, Graham Bishop sets out many of the key challenges and choices facing policy makers as we move towards a system of European economic governance. It provides a valuable and thought-provoking contribution to one of the most important debates on public policy in Europe today. For more on the book, click here

Understanding the EU Budget
The EU’s Budget currently totals over €140 billion or about £117 billion a year. But is an EU budget necessary? How large should it be? How is it decided and funded? And is it under proper control? These are some of the questions which former MEP Ban Patterson seeks to answer. for more on the book, click here

EU Fiscal Crisis/EU Budget special offer PDF £24.00 Add to Cart


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Overview
RedBookFrontsmallThe Red Book is a collection of essays and thought pieces on political and economic policy that has been produced by Labour Left, a campaign grouping within the UK Labour Party that aims to generate ethically socialist policies and intellectually reclaim what it means to be Left.

 

There need to be fresh perspectives in the debate on the direction of change in Labour party policy in order to achieve future electoral success.

 

This is where Labour Left, and the Red Book, has its place. The writing in the Red Book aims to present a clear vision for a Labour Party and government of the future. Only by reaffirming Labour’s core values, but updating them for the modern setting, can the party hope to reconnect with its traditional base.

 

With the Red Book, Labour Left has found its voice.

 

Publication date: January 2012 (paperback)
Order your copy: £9.99/€
11.60/$15.55 plus p&p

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Buy The Red Book and The Courageous State by Richard Murphy for £19.99/€23.45/$31.40 plus p&p

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Buy the Red Book together with "Saving the World?" Gordon Brown Reconsidered and save 20%

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Contents


Contents

Part I: Introducing Labour Left and Ethical Socialism

A Place for Labour Left in the Great Labour Debate, by Andy Shaw
The Human Face of Socialism, by Prof. Beverley Clack

Part II: What now for the NHS?

The Betrayal of our NHS, by Richard Grimes
An NHS Which Belongs to Us, by David Taylor-Gooby
Commercialisation of Public Services, by Grahame Morris MP

Part III: Education: Unequal Resources, Social Mobility and Poverty of Aspiration

Archimedes or Stephenson?, by Chi Onwurah MP
Education, ‘a debt due, from the present to future generations’ by Dan Young (with input from Andy Shaw)

Part IV: Labour Left and the Importance of Ethical Economics

Consumer Debt, by Carl Packman
A Living Wage, by Teresa Pearce MP
Tax at the Heart of Labour Left, by Richard Murphy
Private Renters, the Forgotten Millions who Abandoned Labour, by Dr Éoin Clarke
Houses not to Blame, by Austin Mitchell MP
Labour's Co-operative Future, by James Doran
Recession: the Socialist Solution, by Austin Mitchell MP

Part V: Can Academic Philosophy Help us to Learn the Lessons of our General Election Defeat?

Understanding the Psychology of the Working Class Right Wing, by Rhiannon Lockley
The Real Lesson of New Labour, by Dr Phil Burton-Cartledge
Labour Winning in the South, by Thomas Gann

Part VI: Making Affordable Energy Compatible with Sustainable Energy

Energy Efficiency Provides One of the Keys to Affordable Energy, by Michael McAleer
Financial Benefits of Green Energy can Help Pay its Price, by Mark Brophy
Making the Case for Opening New Coal Mines, by Ian Lavery MP & Michael McAleer

Part VII:  Labour Left and Issues Beyond Class

LGB&T and the Next Generation of Reforms, by Dr Mike Homfray
What Now for Gender Equality?, by Sophie Bryce
Harsh Lessons for Labour if they Wish to Recapture the Christian Vote, by Graham Burnby-Crouch
A New Ethical Foreign Policy for Labour, by Mark Seddon
Labour Must Champion the Cause of the ‘Working Poor’ if We Want to Win the 2015 General Election, by Dr Éoin Clarke


Where is banking's moral compass?

This short book argues that bankers are good for society if the constraints that regulate them direct bankers to behave for the good of society. 

It makes clear that banking keeps society civilised as, without such controls, we would have anarchy and war.  It argues that bankers historically have been constrained by religious shackles that, through the fear of God, made bankers behave appropriately.  It asks what bankers fear today and whether the moral compass and lessening of religious beliefs is one reason why bankers have been bad.  After all, the love of money is the root of all evil.  

It concludes that for bankers to be good for society, they have to have a fear of retribution and a strong moral compass.  This will happen as the American culture of casino capitalism is replaced by an Asian culture of community-based consensus combined with Islamic finance influences.

Published April 2012
ISBN: 978-1-907720-45-1
PDF: £5.99 + VAT/€7.16 + VAT/$9.30

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Contents

 

Preface

 Introduction

 

1       Why banking is essential for society

 

2       A banker’s role in society

Money and the seven deadly sins

 

3       Bankers’ morals and ethics

Religious codes

 

4       Banking for good or for bad

The rise and fall of the Roman Empire

The rise and fall of Renaissance Italy

The South Sea Bubble

The Great Depression

 

5       The role of bankers today

Creating risk

Flawed modelling

The failure of self-regulation

The role of technology

The need for constraint

 

6       The role of bankers tomorrow

Providing direction

The future is in the East

The rise of Islamic finance

 

7       Conclusions

Creating a safer market


About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club. In particular, he has been writing for various media, such as the Banker Magazine, since 2004 and is a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg. Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

How did the City of London get to be the world’s leading financial centre?

 

Its history can be traced from the arrival of the Romans through two millennia involving trading in stocks and gold, the funding of kings and wars, to the Big Bang and the current crisis – the City has always been a centre of international financial activity.

 

This fascinating history is based on Chris Skinner’s celebrated blog, which brings out the colour and the characters as well as providing sharp analysis of how the City works.

Published April 2012
ISBN: 978-1-907720-45-1
PDF: £5.99 + VAT/€7.16 + VAT/$9.30

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Contents
Chapter 1: The Romans
Chapter 2: The Vikings
Chapter 3: Medieval Time
s
The Stocks Market
Chapter 4: The Tudors
The first Exchange
Chapter 5 The Stuarts
The Exchequer
The Treasury
Chapter 6: The Bank of England
The issue of banknotes
The role of the central bank
Chapter 7: Lloyd's of London
Edward Lloyd’s Coffee House
The Lutine Bell
Chapter 8: the London Stock Exchange
Jonathan’s Coffee House
Regulation and deregulation
The Big Bang and after
Chapter 9: The 1700s
A global empire
Chapter 10: The Victorians
Chapter 11: World Wars

World War l
Post-war policies
The Great Depression
Chapter 12: After World War II
Bretton Woods
The Cold War
The oil crisis
Chapter 13: The Big Bang
Jobbers and brokers
The future is in derivatives
The Financial Services Act
New technology
From bang to crisis
Chapter 14: Crisis
Light-touch regulation
The crisis
Future moves


About Chris Skinner

Chris has been providing independent, expert commentary on the key developments in banking for over a decade in his role as Chief Executive of Balatro and Chairman of the Financial Services Club. In particular, he has been writing for various media, such as the Banker Magazine, since 2004 and is a key commentator on banking for prime time news channels including the BBC, Sky and Bloomberg. Prior to creating his independent entities, Chris had key roles at management and board levels covering insurance, retail and investment banking across a range of consulting and technology firms.

 

 

by Simon Dixon

Overview
BTTTF_BOOK_resized_front_CoverWe are in a time like no other. Those who play the game by the new rules understand that seven highly disruptive new technologies are changing the rules of work.

Those who understand the rules of money and finance also know that we are sitting on a debt trap that is proving increasingly hard to finance. They are preparing now. So can you.

We are also living in a time when technology is replacing jobs at a fast rate. Your career may be next. If you own a business, you need to prepare too.

So how do we thrive in such unique times?

Those who do not understand the new rules of finance, technology and money will lose out.

This book explains the rules, how you can use them to overcome the problems you will face, and how you can prosper, during and after the massive change ahead.

 



Bank to the Future was published in February 2012 in print, PDF and e-book formats. The e-book and PDF formats are fully interactive, highly illustrated, and provide links to videos and relevant web sites and social networking sites, and offer the best experience of the book's resources.

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Reviews

"Simon's vision for your future and how finance will affect us all is eye-opening and a must read for all who care about protecting themselves in the rough rides ahead."  Thomas Power, founder of the first business to business social network, Ecademy.

 

"Having disrupted traditional banking twice in my life, I think I am qualified to spot a disruption. The future that Simon talks about in this book is disruptive to not just banks, but every financial institution. Both controversial and insightful." Mike Harris, CEO & Founder of two banks - Egg & First Direct

 

"We'll see some radical changes in the financial system over the next few years. Simon does a brilliant job of explaining the fundamental problems with the current system, and showing how innovation and entrepreneurs can address these fatal flaws and change finance for the better."  Ben Dyson, Director & Founder of Positive Money

 

Contents

Contents

Chapter 1 - The economy of freedom
Chapter 2 - The debt trap
Chapter 3 - The free economy
Chapter 4 - Back to 1844
Chapter 5 - Hugely Disruptive Technology 1 - The World Wide Web
Chapter 6 - Hugely Disruptive Technology 2 - Digital Money
Chapter 7 - Hugely Disruptive Technology 3 - The Social Networks
Chapter 8 - Hugely Disruptive Technology 4 - CrowdFunding
Chapter 9 - Hugely Disruptive Technology 5 - Person To Person Lending
Chapter 10 - Hugely Disruptive Technology 6 - MicroFinance Platforms
Chapter 11 - Hugely Disruptive Technology 7 - The Mobile Smart Phone
Chapter 12 - To Reform Or Not To Reform?

 

About Simon Dixon

After founding the world's leading online training company for students seeking careers in investment banking with billionaire Peter Hargreaves, Simon dedicated himself to 'banking reform through education, politics and entrepreneurship.

As founder of BankToTheFuture.com, an online social network where users can fund, borrow, raise funds and invest, Simon has first hand experience of how hugely disruptive technologies like social networking, crowdfunding and person to person lending can disrupt an entire industry.

Simon Dixon's mission is to create a working model of banking reform as well as continue to campaign for banking reform by implementing the proposed reforms outlined by the not-for-profit organisation 'Positive Money'.




New report - Analysis and growth forecasts for mobile messaging markets worldwide: 6th edition
  • Includes groundbreaking five-year OTT user and traffic forecasts; plus all the data you need for SMS, MMS, mobile e-mail and mobile IM markets, as well as new sections on SMS hubbing, and mobile marketing and advertising
  • Essential insight and extensive worldwide, regional and country-level numbers
  • Report includes 367 Figures and Tables
  • Report prices held at the same level since 2009.
Report overview
Within the mobile space, messaging is the biggest revenue generator after voice. Within messaging, SMS is king and yielded the highest revenue for mobile network operators in 2011. And so fevered industry interest about changing market dynamics and SMS’ future is understandable and relevant.

One of the biggest themes under current discussion in the mobile messaging industry is this issue of ‘the end of SMS’ and the booming rise of Over-the-Top (OTT) messaging services (or ‘next generation’ messaging services, to offer just one of a great many aliases). But is the ‘SMS doom’ scenario accurate?
In addition to informed analysis of SMS, MMS, mobile e-mail, and mobile IM – and new sections on SMS hubbing; and mobile marketing and advertising –  groundbreaking five-year OTT user and traffic forecasts are included in this new report to comprehensively examine this pressing industry concern.

And, yes – our OTT traffic numbers are huge. And very possibly still conservative. But such statistics mean little without detailed context and explanations, which are offered in the report. Context that will help dispel the media hype, and explanations that will cut through the industry’s misunderstanding about how
OTT services are being used, and how popular they are.

The expansive sixth edition in our hugely popular messaging series thoroughly analyses the worldwide mobile messaging market in 12 data-packed chapters:

1.  Introduction
2.  Worldwide Mobile Market
3.  Mobile Messaging Market
4.  SMS
5.  SMS Hubbing
6.  Mobile Marketing and Advertising
7.  OTT Messaging Services
8.  MMS
9.  Mobile E-mail
10. Mobile IM
11. Summary and Conclusions
12. Appendices

Further reasons to buy this research:
  • Study the growth still to come over the next 5 years; explore and identify opportunities
  • See if OTT services really are ‘instant SMS killers’; learn how OTT can encourage brand loyalty
  • Familiarise yourself with the growing USD 231 billion messaging market in 2012
  • Gain insight into P2P/A2P SMS traffic breakouts
  • Discover why OTT traffic appears to be growing so big so fast
  • Reflect on the upside and downside of our SMS outlook
  • Establish how long MNOs have to protect their SMS revenues from OTT; plus why they should should fight and how
  • Read commentary on the mixed blessing of smartphones for MMS; and how
  • OTT will impact SMS and MMS differently; and speed-read the bonus executive summary presentation

Download sample pages here

Order here

1–5 user team licence: UK £1,995 + VAT/EU €2,495 + VAT/ RoW $3,395
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Key features


Key features of this essential new market study:
  • Get informed answers to the key ‘SMS vs. OTT’ questions
  • Review detailed growth forecasts to 2016 for SMS,OTT, MMS, mobile e-mail and mobile IM
  • Assess country level data and market sizing for 76 key messaging markets
  • Appraise the resilience of SMS against competing messaging services to 2016
  • Uncover whether OTT services, IM apps and social networking sites are only ‘clipping the wings’ of
  • SMS, or if it’s more serious
  • Digest profiles of BlackBerry Messenger (BBM), WhatsApp, Facebook Chat, and Apple iMessage
  • Features an assessment of whether SMS and OTT can co-exist
  • All this and more in this must-have 376 page report

Contents


Report includes 367 Figures and Tables. Download the full contents listing  here .

Summary contents
1.  Introduction
2.  Worldwide Mobile Market
3.  Mobile Messaging Market
4.  SMS

History and Future Outlook of SMS
Comparison between new and previous forecasts
Europe
Asia Pacific
North America
Latin America
Africa and Middle East
5.  SMS Hubbing
SMS Interconnection Models
SMS Hubbing
– Overview
– Benefits of SMS Hubbing
– Revenue Flow Model
– SMS Hubbing Providers
6.  Mobile Marketing and Advertising
Impact of SMS and MMS on Mobile Advertising
– How SMS and MMS Advertising Work?
Role of Smartphones in Mobile Advertising
Brief Profiles of Key Players
Impact of Mobile Advertising on SMS and MMS
7.  OTT Messaging Services
Introduction
Drivers and Inhibitors for the Adoption of OTT Messaging Services
– Drivers
– Inhibitors
Business Model
OTT Messaging Service Providers
Profiles of Key OTT Messaging Services
– BlackBerry Messenger
– WhatsApp
– Facebook Chat
– iMessage
Market Size
– Forecast Methodology
– OTT Messaging Users
– OTT Messaging Traffic
Conservative traffic forecasting
– Rationale for excluding Revenue analysis
Mobile Network Operators: Taking a stand on OTT messaging services
8.  MMS
History and Future Outlook of MMS
Comparison between new and previous forecasts
Europe
Asia Pacific
North America
Latin America
Africa and Middle East
9.  Mobile E-mail
Europe
Asia Pacific
North America
Latin America
Africa and Middle East
10. Mobile IM
Europe
Asia Pacific
North America
Latin America
Africa and Middle East
11. Summary and Conclusions
Mobile Messaging
SMS
– SMS price erosion
– The downside of our SMS outlook
– The brightside of SMS outlook
– A2P messaging – room for growth
OTT Messaging Services
– Core conclusion: SMS and OTT existing side-by-side
MMS
– Peak traffic
– The sad decline of MMS
– Social media is killing MMS, big time
– MMS price erosion
Mobile E-mail
Mobile IM
– The Big Picture
– The Changing Dynamics of the Mobile Messaging Market
– M2M
– RCS-e
Smartphone Penetration
– Disruptive Services
– SMS is still the king
12. Appendices

About Portio Research


Portio Research Ltd is an independent UK-based research company, focussed on providing high quality market studies.

For our large studies, we specialise in a tightly focussed niche within the mobile sector. We look at customers, I.E. mobile subscribers, and we look at network operators, and we focus mostly on the products and services that connect these two groups. We look at the relationships between operators, the products they sell and the people they sell them to, looking in particular at go-to-market strategies and how the products and services markets vary around the world. We cover all areas of the mobile space including network technologies, handsets and devices, but mobile content and non-voice mobile products, particularly messaging, are our core areas of expertise.

In addition to our highly-regarded off-the-shelf market research, we are also always looking to help clients with bespoke research requests, and we can turn around tailored research projects quickly and cost-effectively.

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Overview
The IT department is probably the single most important contributor to business success for companies in the financial services sector. But for those outside the technology field, IT management often appears to follow its own rules, and make little sense when compared to other silos in the organisation.  Yet potentially costly (and potentially risk-inducing) mistakes and misunderstandings in this area are common, and it’s essential that the non-IT functions within the enterprise understand the workings of this vital “engine-room”.

For those who work in areas other than IT, The Top 10 Mistakes in Financial IT – and How to Avoid Them highlights some of the traps into which non-IT management can fall in the understanding of IT departments, and points out how such mistakes can be avoided. Knowledge is power: and this report enables those outside the IT world who need to understand and work with IT and its often opaque working methods and culture to get under the skin of and engage with this most vital of functions.  

Illustrated with case studies, the report examines common mistakes that potentially lead to risk, such as: falling for hype, wrongly forecasting the future, inertia, promoting the wrong people, mistaken outsourcing decisions, mistaking the biggest brand for best – and its opposite, going it alone, cultural issues around the world, belief in the infallibility of IT, and unreasoning faith in IT project plans.

If any or all of these danger signs sound familiar in your organisation, The Top 10 Mistakes in Financial IT – and How to Avoid Them could save your enterprise from falling into the traps, through analysis of the issues and spotlighting the business, reputational, legal, compliance, and operational risks faced by both retail and investment banking, as well as by more general financial institutions, if these traps are not avoided.

The author has experience of working in the technology departments of several major financial institu tions, and has witnessed many of these management decisions at first hand.

He has also drawn on the experiences of friends and colleagues in the same field, and used these to illustrate the principles involved. The names of the institutions, etc. involved in these case studies are not given – but they are some of the biggest names in the business.


Published March 2012
ISBN 978-1-907720-51-2
106 pages
For full contents in PDF format, click here
For the FREE Introduction,  click here

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Key issues


There are 10 basic categories of mistake that are often made when attempting to manage IT departments by managers who come from outside the IT field. Not everyone is guilty of all of these, of course, but too many people make at least one of these mistakes.

■     Mistake #1: Falling for the hype. Being too ready to believe the journalists’ stories that appear in non-technical magazines, and thus vulnerable to swallowing the technical hype that appears.

■     Mistake #2: Viewing the wrong channels through your crystal ball. Making wrong guesses as to the future – slightly different from the section above, with an examination of cloud computing – at the time of writing, one of the really hot-button topics in enterprise IT.

■     Mistake #3: Inertia. The opposite is also a mistake – assuming that the past will continue with- out changing. Hanging onto past practices for their own sake is as much of a mistake as embracing change for novelty’s sake.

■     Mistake #4: Promoting the wrong people. Staffing IT departments at managerial level (and even below this) can be a difficult proposition for managers who are not familiar with the ins and outs of technology. Some of the staffing issues discussed in this section are unique to IT departments.

■     Mistake #5: Seeing outsourcing as a cost-cutting silver bullet. Outsourcing  and offshoring are common terms, and these practices are often seen as easy ways to save money within the enterprise. Often, though, a careless implementation  of these can end up costing more, rather than less, money and end up being a liability to the bank.

■     Mistake #6: Mistaking biggest for best: Brand names are big in IT, and the temptation is always to go with the most common names in order to minimise risk. Though there are usually advantages to doing things this way, there are often alternatives that can be more cost-effective than the ‘tradi- tional’ choices.

■     Mistake #7: Going it alone. By contrast, going your own way, rather than following the estab- lished route can also land you in trouble if the common-sense rules are not followed.

■     Mistake #8: Expecting the world to be the same all over. It’s very tempting to assume that the world is just like the place where you have your headquarters. However, there are many differences that you may discover as soon as you start to take your business overseas, and not all of them are listed in the guidebooks.

■     Mistake #9: Believing computers are infallible. Trusting too much in the power of technology to do things right every time can be a terrible mistake. This section explains some of the ways in which the risks associated with over-confidence in technology can be mitigated.

■     Mistake #10: Believing in IT project plans. Projects are notorious for their complexity, their late deliveries and their cost overruns. Many of these undesirable characteristics can be avoided if you know the danger signs.

Contents


Introduction
What’s in the report?
A cautionary tale
The moral of this story
The purpose of this report

Mistake 1:     Falling for the hype
Moral
Summary
Introduction
The myth  generation machine
The world is smaller than we think
Social media
Lessons from social media
Smoke and  mirrors?
Product leaking
Beware the “good idea”
The seduction of new ideas
Example – a bank bites the Apple
Early adoption – The dangers of 1.0
Risk aversion  can pay off
Key points summary  

Mistake 2:     Inertia  
Moral
Summary
Transient  technology
Hard disks
Backup technology
Changes in management and  development practices
Database systems
Farewell Novell
Application  development – changes to the model  
The dilemma of change
Example: Bank looks through wrong Windows
Vendors drop support
The 2008 challenge and  beyond
IT staffing issues
Potential  IT  budget issues
Conclusions
Key points summary

Mistake 3:     Viewing the wrong channels on your crystal ball
Moral
Summary  
Seeing the future
Example: A bank backs the wrong technology horse  
Expensive blind alleys
Cloud computing
Advantages – flexibility, efficiency, cost
Risks – security,  compliance, business,  operations, reputation
Worst-case  scenarios
Continuity management
Example: A sudden break in continuity
Conclusions
Key points summary

Mistake 4:     Promoting the wrong people
Moral
Summary  
Why does  IT not  follow the rules?
Mismatching competences: technicians vs. managers
Wider effects
Certification is not  necessarily  the answer
Non-technical certification  
Particular issues for the financial sector
Advanced  IT requirements and  their implementation
Industry  scrutiny  and  oversight .
One solution: Microsoft’s “Distinguished Engineers”
Lessons for financial services  
Promotion “creep”
Conclusion
Key points summary  

Mistake 5:     Seeing outsourcing as a cost-cutting silver bullet
Moral
Summary
The three  types of outsourcing
Specialist consultants
Project teams  
Routine functions
The individual consultant  
The job security trap
Example: The embedded consultant  
Bringing in a specialist team  
Potential  problems
Language skills
Ultimate  responsibility
Outsourcing the whole function  
Security issues
Offshoring  
Chain of command issues  
Differences in business style and customs
Example: Bank’s systems lost in translation  
Conclusions   
Key points summary  

Mistake 6:     Confusing biggest with best   
Moral
Summary  
Case study: Microsoft Word
A technical Indiana Jones
Alternatives
Other “big” dinosaurs
Microsoft vs. Apple
Pricing models
Linux
Vendor inducements
Alternatives can offer a better deal
Some implications for financial institutions
Other minority  supplier  issues
Conclusions  
Key points summary  

Mistake 7:     Going it alone  
Moral
Summary  
Financial institutions and IT innovation
Invent the wheel, but not  the bearings  
Disadvantages to carving  your own path
Resources
Maintenance
Example: Reinventing a bank’s payroll system  
Why do people do it?
“Off-the-peg” can be a good fit  
Open source  is not  a sticking plaster
Beware the “dead end”  trap
So where  does  innovation come  from?
Innovation carries responsibilities for banks
Conclusion
Key points  summary

Mistake 8:     Expecting the world to be the same all over
Moral
Summary  
Living and working  abroad
Local differences in the IT world
Language
External suppliers
Just because they speak English, it doesn’t mean you should  hire them
Example: A little local language difficulty
Global standards
What’s in a name?
Different ways of working
Example: Fire regulations
Asia ex-Japan
Conclusion
Key points  summary

Mistake 9:     Believing computers are  safe  and reliable
Moral
Summary  
Computers can cause  their own problem areas
Example: The Tokyo Stock Exchange  
The case for IT audit
Documentation is vital  
Testing
Programming prototyping and language
The dangers of objects
Objects – an example
Excel errors
Conclusions
Key points summary

Mistake 10:     Trusting IT project plans
Moral
Summary  
“Creeping featuritis”
Bill padding  
Under-specification  
Example: Bank’s application too complex for purpose
Is programming an art or a science?
Throwing programmers at project overruns
Speed  for its own sake
Scheduling testing and  debugging into the project
Don’t forget  documentation
Conclusion
Key points  summary

Summing up
Scaling up
Staffing
Globalisation
Understand the other side

Author


Hugh Ashton has lived in Japan  since 1988, when  he arrived from the UK to take up a position with a Japanese documentation  company. Since then, he has worked with a variety of financial institutions, both international and domestic, chiefly working as a consultant documenting and assisting with the definition and implementation of processes and procedures governing IT operations in those institutions.

He is the author of several reports on retail financial operations in Japan, as well as wealth management operations in Japan and Asia. His reports on Japanese industry and business are regularly published on Web sites and in print. His techno-financial thriller, At the Sharpe End, set in 2008 Tokyo against the background of the Wall Street crash, has received critical acclaim.

BANKRUPT: Why Banking is Broken. How it can be Transformed.

 

Rising fees.

 

Rampant foreclosures.

 

Americans (and much of the rest of the world) are angry and fed up with banks.

 

In this explosive book, Carol Realini reveals what afflicts today’s biggest banks and how they can transform using disruptive innovation to reconnect with their customers.


Overview


Today’s vast superbanks are organizations that seem to operate by their own rules and trample their Main Street customers. BANKRUPT shows what afflicts today’s biggest banks, and shows how they nickel-and-dime the average customer even as they hold trillions of dollars in assets and government bailout funds.

 

It’s not about creating nostalgia for a golden age that is long past.

 

It’s about how today’s banks can transform themselves to redefine banking. It’s a call for leadership that lives by the motto “Do the right thing.”

 

To chart a path to the future, Carol draws upon her extensive personal experience in India, and reveals the amazing revolution in grassroots banking that is taking place right now. BANKRUPT is an optimistic book. It uses the crisis we are experiencing as a way to look forward to a very different kind of future for banking – one that will benefit both the banks and their millions of customers.


BANKRUPT: Why Banking is Broken. How it can be Transformed.
Published April 2012
ISBN 978-1-907720-52-9
178 pages

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Excerpt

This excerpt is taken from the Introduction to BANKRUPT

 

The world has changed in many ways, but people still need their local bank to be there to help keep their money safe, save for education, build a future for their families, support their communities, and provide services to small businesses. Yet many people believe that banks have lost their way.

 

Banks have an excess of computers, branches, websites, mobile apps, and ATMs. They offer a dizzying array of services. But in the process they have lost something precious: their compassion and dedication to their customers.

 

With advertisements that saturate the airwaves, they compete for our business – but when we give them our business, the relationship suddenly becomes adversarial. As prospects we are wooed; as customers we are suspect. We become enemies who must be charged fees for every imagined transgression.

 

The bank hides behind pages of fine print. They sell credit cards that charge breathtaking interest rates. They advertise that they are friendly and community-spirited, yet the average person cannot get a mortgage and the small businessperson cannot get a loan.

 

The nation’s banks are sitting on trillions of dollars in assets and yet they nickel-and-dime the average customer who has a thousand dollars on deposit. It seems that during the recent Great Recession they figured out how to save themselves, and then how to adapt their business model to increase market share with the richest one percent.

 

Is it our imagination? Are we, the customers, to blame? Are we ungrateful? Are we demanding services without expecting to pay for them? Fifty years ago, there were no ATMs. If you wanted to withdraw some money out of your bank account for a weekend activity, you had to go to the bank before the doors closed at three o’clock on Friday afternoon. If you couldn’t get there in time, you couldn’t get your cash until Monday morning.The only fee you ever paid was a few bucks for a new box of checks. Banking didn’t cost much, but they didn’t offer many special services, either.

 

Over the past fifty years, banking and the banking industry have changed. Thanks in part to aggressive marketing by big banks, we take for granted many services that did not exist years ago.

 

This book is not about creating nostalgia for some imagined golden age that is long past. Change is a necessary part of life. But consumers have a right to expect and demand transparency, fairness, and real competition in the banking industry. They have a right to expect that advances in technology that benefit the banks will also benefit the consumer.

 

This book examines two key areas of concern. The first is the crisis the banks are facing, and how deep the hole is. This includes what makes it so difficult for the banks to evolve in a positive direction as conditions change, and how the business model that worked fifty years ago may have created many of the problems they must tackle to move forward.

 

The other is about the disruption that is on the horizon. Two forces are converging to change banking forever. First is the customer demand for good service at an affordable price. Second are technological changes that are reshaping our lives and businesses.  Banks will either step up to participate in this disruption – or will fade into the background.  For banks to participate they will need to change everything; their culture, their products, their business models, and their services will all need to change. This is not about incremental change; it is about disruption.


Bankers need to reconnect with their community. They need to change their focus from expensive business trips, protecting traditional revenue sources, maintaining legacy systems. The new focus must be on the customer.

 

Starting with the home equity crisis of late 2007, the Great Recession has been a long and painful period of high unemployment, loss of middle class wealth, and surging poverty. It may be a challenging market environment for the banking industry, but it is even harder on the people who most need their services. The big banks have especially lost their commitment to serving everyday people by providing affordable banking services that empower people’s life and work.  In the US the number of American who are opting out of traditional banking is on the increase to new heights; 106 million Americans are cash preferred.

The change that must come will not only benefit millions of households in the United States; it will also impact our competitiveness globally. Innovation in banking will help us be more competitive as we operate in a growing global economy.

 

As a society, we increasingly bank with a handful of large banks that don’t care about our individual needs. They care about their compensation packages, their careers, and themselves, but they don’t care about their customers. It is a crisis.

 

To the companies, we say change the boards and change the management teams. Bring on bank leadership that cares about regular people and cares enough to require that their organizations figure out how to give the customers more while charging them less. What is needed are organizations that are leveraging new technologies and redefining products to bring more value to their customers.

 

This is an optimistic book. It sees the crisis we are experiencing as a way to look forward to a very different kind of future for banking. The middle class needs to recapture banking. We are everyday customers. We can empathize with our neighbors who watch their daily expenses while dreaming of a better future for their children. We are the small business owners or new business creators who start with sweat equity and hard work. And some of us are even the employees of banks.

 

We don’t have to accept the status quo.


Contents



INTRODUCTION
PART ONE: THE CRISIS IN BANKING6
Chapter 1: Potter’s World6
Chapter 2: The Four Pillars of Decay
Chapter 3: The Emperor Has No Clothes
Chapter 4: The Power of Technology
Chapter 5: The Human Cos
PART II: TOWARD A BRIGHTER FUTURE
Chapter 6: Reframing Banking
Chapter 7: Redefining Banking in India
Chapter 8: Silver Bullets – Data, Cloud, Mobile
Chapter 9: Disruption
Chapter 10: Redefining Banking

The Buzz about BANKRUPT


“Uniquely Carol grasps the conflict between today’s obsolete banking models and the public good. She exposes the dysfunctional environment the banker/politician/regulator trio has created and suggest how a union of accelerating technology and common sense unburdened by outdated banking methods can be used to build financial services for all.” H. David Johnson, Startup Advisor and former PayPal CFO

“The gap between the behavior of the financial services industry at large compared with behavior of consumers has never been growing more rapidly. When paired with an increasingly tough regulatory environment, and the fallout from the global financial crisis, the financial services sector writ large is ready for a massive disruption. Carol’s thoughts are an essential part of the discussion the industry needs to have as a matter of urgency.” Brett King, Founder & Chairman, Movenbank

 

"BANKRUPT is a wake-up call not only to America's bankers but to the nation at large. How could America have so many consumers 'underserved' today by our traditional financial institutions? What will it take to ensure all Americans have access to low-cost products to help them manage their money? BANKRUPT provides fresh insights and ideas for a path toward needed product and service innovation, new business models, and leaders who welcome the transformation required to serve our nation as it deserves to be served." Jane Thompson, former President, Walmart Financial Services, and American Banker's Innovator of the Year 2011


“Carol Realini is a tenacious visionary and brilliant writer. She has not only written a revolutionary book but launched an entire movement to reverse the appalling lack of integrity, innovative practices and heart in the banking industry. Her proven entrepreneurial success and cleverness will surely catalyze the deep and desperately needed transformation in the world today. This book is a must read!” Jacqueline Miller, CEO, Partnerships For Change

“Carol’s thoughts on the banking industry are from her solid experience in developed, developing and emerging markets where the real and radical financial sector transformation is  happening. Combining her acumen for innovation with her passion for reforms in the sector, Carol is able to establish that indeed the industry can still have meaningful impact on the new ‘drivers of the global economy’-the ‘financially excluded’.”Jojo Malolos, President and CEO, Smart Hub, Inc.

“Carol’s curiosity about the world, both how it works and, more importantly, what we can do to improve it, is infectious. Her thoughtful approach to the lack of affordable banking services and harnessing mobile technology to provide a solution to millions of people  has distinguish her as a leader and a visionary.” Howard B. Gefen, Director, WW Mobile Business Dev, Amazon.com

“Carol Realini is an inspiration to women entrepreneurs around the world. Her pioneering work in mobile payments laid the rails for a host of other work, not just in the US but also around the world. I greatly value Carol’s ability to get straight to the heart of the problem, influence thinking and guide action.” Charmaine Oak, Practice Lead, Digital Money at Shift Thought

About Carol Realini

Carol_Full_AvatarsmallCarol Realini is a successful CEO, entrepreneur and board member with technology and financial services industry experience.  She is a globally recognized technology innovator and has successfully led companies through initial public offerings, as well as into acquisitions.  She is driven by a passion to improve people’s lives through technology.

 

Carol has extensive experience in financial services (mobile, payments) and technology (mobile, smart phone applications, payments and banking, enterprise software, distributed computing) and has worked extensively in India and Africa on mobile money.  Her latest venture, Obopay, which she founded and served as CEO for 5 years and Executive Chair for one year, is a leading global mobile banking and payment provider.  

 

Carol’s long history of entrepreneurship includes Obopay, Chordiant (IPO), J. Frank Consulting (Acquired), and Legato (IPO). In addition, she has served on several boards of directors, including the NGOs Search for Common Ground and GlobalGiving, and corporate boards Obopay, Chordiant and Invio.  Carol also mentors young entrepreneurs in Silicon Valley, providing wisdom and lessons learned from her four successful startup experiences.

 

A recognized international expert in mobile money, Carol has presented to world business and political leaders at events including those hosted by the U.S. State Department, the World Economic Forum, and the Gates Foundation. In 2008, Carol was named one of the 50 Top Women in Technology by Corporate Board Member magazine, and in 2010, was recognized as one of the most influential women in Silicon Valley by the Silicon Valley Business Journal.

Follow Carol on Twitter @carolrealini and find out more about her work and her passion on her blog http://carolrealini.wordpress.com/

 

Contact details: 

TEL: +1.650.622.6800

FAX: +1.650.352.2476




A quicker and more cost effective route to the high performance organisation

 

By Colin Coulson-Thomas

 

Overview


Many talent management programmes are unaffordable and destined to fail.

 

Talented people can be costly to recruit and difficult to manage and retain.

 

Fortunes are spent on expensive people who are not engaged, effectively used, or properly supported.

 

This report sets out a practical and affordable route to building high performance organisations and quickly achieving multiple objectives. The approach it recommends can avoid traditional trade-offs and will benefit people and organisations.

 

A feature of the report is its mini-case studies, which provide examples of applications of the recommended approach within the report.

 

Each mini-case illustrates a successful response to a generic challenge facing organisations. For each organisation the mini-case study briefly presents the problem addressed, what was done, results achieved and subsequent situation, what made difference and main learning points.

 

Case studies include:

  • Avaya
  • B&Q
  • Cisco Systems
  • Eyretel
  • Friends Provident
  • HSBC
  • Mahle
  • Mouchel
  • Nomix
  • Technology Strategy Board
  • The Alliance GP Cluster

Published by Policy Publications in association with Adaptation

184pp

ISBN 978-1-872980-20-1

 

Print £987.00/€1,197.00/$1,574 (plus postage)

Talent Management 2 - print £987.00 Add to Cart

PDF £975.00 + VAT/€1,182.00 + VAT/$1,554.50

Talent Management 2 - PDF £1,170.00 Add to Cart


Euro and dollar prices are illustrative. Euro and dollar prices will be calculated using current exchange rates at checkout. VAT is chargeable on electronic products for UK and EU orders; prices shown include VAT. This will be applied or deducted at checkout as applicable.

 

Contents

Executive Summary

1 Talent Management and the High Performance Organisation

2 Underpinning Research and Experience

3 Addressing Fundamental Challenges

4 Innovation, and Launching and Selling New Products

5 Building and Supporting High Performance Communities

6 24/7 Learning and Development

7 Transforming Public Services

8 Purchasing and Informed Decision Making

9 Implementing Corporate Policies and Strategies

10 Corporate Communications

11 Addressing Special Situations

12 Adopting and Implementing Performance Support

13 Embracing a More Balanced Approach

References

Mini-case studies


A quicker and more cost effective route to the high performance organisation

 

By Colin Coulson-Thomas


Overview

Many areas of the public sector face financial constraints and/or increases in demand that are outstripping available resources.

 

At the same time policy makers and the public are impatient for responses and results. While still calling for improvements and new initiatives, they may not be prepared to wait for multi-year transformation programmes to deliver results, even if these were cost effective and likely to succeed.

 

This report sets out a practical route to transforming public services, building high performance organisations and quickly achieving multiple objectives. The approach can avoid traditional trade-offs and benefits people and organisations.

 

A feature of the report are the mini-case studies, which provide examples of applications of the recommended approach within the report. Each mini-case illustrates a successful response to a generic challenge facing organisations.

 

For each organisation the mini-case study briefly presents the problem addressed, what was done, results achieved and subsequent situation, what made difference and main learning points.

 

 

Published by Policy Publications in association with Adaptation

200pp

ISBN 978-1-872980-54-6

Print £357.00/€433.50/$568.70 (plus postage)

Transforming Public Services - print £357.00 Add to Cart

PDF £345.00 + VAT/€419.00 + VAT/$550.00

Transforming Public Services - PDF £414.00 Add to Cart


Euro and dollar prices are illustrative. Euro and dollar prices will be calculated using current exchange rates at checkout. VAT is chargeable on electronic products for UK and EU orders; prices shown include VAT. This will be applied or deducted at checkout as applicable.

 

Contents

Contents

Executive Summary

1 Creating High Performance Public Organisations

2 Underpinning Investigation of Performance Levers

3 Addressing Continuing Concerns and Challenges

4 Reducing Risk and Enabling Compliance

5 Talent Management

6 Communicating and Engaging with Staff and the Public

7 24/7 Learning and Development

8 Supporting Innovation and Diffusion

9 Procurement and Supporting Responsible Decision Making

10 Supporting Communities of Professionals

11 Transforming Healthcare Services

12 Adopting and Implementing Performance Support

13 Embracing ‘New Leadership’

References

Mini-case studies


Newly published - Worldwide market analysis and competitor positioning in the high-end handset market in 2012 and beyond

 By Portio Research

 

The mobile handset industry is a $241 billion business, and with that kind of revenue flow the question is, can you afford NOT to be a part of this boom?

 

The smartphone business has been the single biggest revenue-generating growth-story over the last 4 years as the rest of the tech sector suffers amid this seemingly endless recession. Subscriber growth has slowed dramatically in saturated markets, voice and text have reach commodity pricing and margins are constantly squeezed hard under consumer pressure, yet around the world the appetite for new smartphones continues to gain pace.

 

Continuing to redefine the handset business, smartphones are fast becoming the device of choice for hundreds of millions of consumers, and 2012 is the year that worldwide smartphone shipments will top half a billion in one year. In this report you will learn that smartphone shipments reached 485 million in 2011, and that number will top 655 million in 2012, rising to over 1 billion smartphones per year by 2016.

 

This report will show you where that growth is going to be, and who the major players are, and how they are fighting for growth and market share in different regions. Packed with data, charts, figures and tables for your market forecasts, business plans and investor presentations, you cannot afford to miss this all-new market report.

 

ORDER HERE

Single user licence £1,995 (+ VAT in UK and EU)

 

Smartphone Futures 2012-2012 SUL £1,794.00 Add to Cart

Small business licence £1,995 (+ VAT in UK and EU)

 

Smartphone Futures 2012-2016 SBL £2,394.00 Add to Cart

Corporate licence £2,995 (+ VAT in UK and EU)

 

Smartphone Futures 2012-2016 CBL £3,594.00 Add to Cart

More Reasons to Buy

  • Detailed analysis of the booming smartphone market
  • Comprehensive market forecasts – handset shipments, smartphone shipments, mobile subscriber growth, handset revenues, regional breakouts, OS market share and much more
  • Extensive vendor profiles covering Samsung, Apple, Nokia, RIM, HTC, Motorola and Sony
  • Essential market data for your business plans and presentations
  • Access to previous editions of this best-selling market report
  • Comprehensive analysis of the smartphone market and the growth that still lies ahead

 

Key features

 

  • Full handset and smartphone shipments forecast at worldwide and regional level
  • Helpful regional analysis of vendor market share
  • Understand vendor positioning and vendor SWOT analysis
  • Examine shifting strengths among the major smartphone vendors – as Samsung have become the #1 player, while Nokia and RIM, who dominated just 3 years ago, have lost considerable market share
  • Study regional OS market share
  • Analysis of OS popularity in key country markets – including The US, UK, Australia, India and The Philippines
  • App store positioning – profiles cover Apple App Store, BB App World, Nokia Ovi Store, Android Market, Windows Marketplace and AT&T App Centre
  • Understand shifting trends in handset ASP
  • All the essential data you need for your presentations, market planning and market forecasting are contained in this detailed 169 page report

 

 

Here is just a brief outline of the Table of Contents of this detailed and thorough report.

 

Chapter 1: Introduction (including Mobile Subscriber growth and Handset Market Evolution)

Chapter 2: Mobile Handset Market (including Regional Shipments, Regional Market Share, ASP of Leading Vendors, AT&T Case Study)

Chapter 3: Smartphone Market (including Regional Analysis and Market Share)

Chapter 4: Smartphone Vendors Profiles

Chapter 5: Mobile OS Market

Chapter 6: Applications and Content Market

Chapter 7: Summary and Conclusions

Chapter 8: Appendices (includes detailed Glossary)

The report contains 164 figures and tables. This vast array of data includes - -

  • Mobile Subscribers – Worldwide
  • Mobile Handset Shipments – Worldwide
  • Handset Shipments – Regional Contribution
  • Handset Revenues – Worldwide
  • Handset Shipments by Operating Systems – Worldwide
  • Handset ASPs of Leading Vendors
  • Handset Shipments & Smartphone Shipments – Worldwide
  • Market Share of Smartphone Vendors – Worldwide and Regional
  • Market Share of Handset Vendors – Worldwide and Regional
  • Smartphone Penetration
  • Mobile Operating System Penetration in select markets
  • Smartphone Shipments as a Percentage of Total Handset Shipments – Worldwide
  • Smartphone Shipments Growth and Smartphone Share Growth as a Percentage – Worldwide
  • Smartphone Shipments and Market Share – By Vendor
  • Regional Break-out of Smartphone Shipments – By Vendor
  • SWOT Analysis – By Vendor
  • Market Share of OS by Shipments – Worldwide
  • OS Shipments and OS Market Share — By OS Vendor
  • Break-out of Available Applications by Type – By App Store
  • Most Popular Paid and Free Applications – By App Store
  • Application Downloads for Major Application Stores
  • Total Number of Smartphones by Vendor
  • Comparison of Smartphone Vendors – By Selected Parameters
  • Positioning of Smartphone Vendors, OS Vendors, App Stores

 

 

 

 

 

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