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Location
London
Member since
2020
Writes about
Payments Regulation & Compliance Retail banking Financial inclusion Cryptocurrency Financial Crime Predictions

John's blog archive

2023 (7) 2022 (9) 2021 (18) 2020 (2)
John Bertrand

John Bertrand

MD at Tec 8 Limited
Message Message me Posts: 36 Comments: 4
Bio Working with large banks and FinTech companies to provide banking with business solutions for the digital age across transactional banking. Covered many aspects of banking including FX, MM, payments, real time activities including liquidity. Holistic reviews of cash management for bank and client, both retail and business, direct corporate ERP bank linkages and Open Banking/PSD2. (Please see 'A Step by Step Approach' to Open Banking and You'. (www.amazon.co.uk). Includes the new technologies (Blockchain), digital money (cyber currencies) and security against cyber-crime. Career History Extensive expertise and management in banking and technology, from both bank and IT supplier experience: Citi, Misys (Finastra), FIS global, SAP and Cognizant.

Blogs

Banking Strategy, Digital and Transformation

Global trends for Faster Payments

21 Aug 2023

The trends emerging with Instant Payment Systems are: 1. Increasing in-country systems being released and promoted The latest major country to introduce instant payments is the USA. The Federal Reserve switched on their instant payment program called FedNow in July 2023. Starting out with 35 banks and credit unions and FedNow is planning to add...

Banking Strategy, Digital and Transformation

APP Fraud: UK Government and UK Supreme Court at odds: what shall we do as scams jump 24%?

12 Aug 2023

In June the UK Government gave royal assent to allow the Payment System Regulator (PSR) to mandate reimbursements for scam victims. Consumer and small enterprises (<£5 million revenue) are to receive the refunds in 5 working days. Costs to be split 50/50 between the Payer and Payee Banks. In addition, Bank/Payment Service Provider (PSP) must h...

Banking Strategy, Digital and Transformation

Supreme Court, July 2023, only where validity of instruction is unclear bank to use Duty of Care

16 Jul 2023

Under the new ruling, when a bank receives a valid payment request with no room for interpretation or choice, the bank must execute the order. That means if the owner of the bank account authorises a clear payment instruction to the bank it has to be paid. The emphasis is clearly on the payer knowing the payee. In 2022 UK APP fraud was £500 milli...

Payments strategies 2015-2020-2030

Instant cross-border payments, with G20 recommendation, are coming.

09 Jul 2023

A superb discussion at EBAday 2023 was on the move to real-time cross border payments everywhere. Movement from next day payment delivery into the bank account to within an hour to become the new norm. “The G20 proposed standard of 75% payments made within 60 minutes.” The G20 standard coupled with the EU are mandating instant euro payments by year...

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John is Commenting on

Will Payment Service Providers (PSP) prosper going forward?

  Ketharaman - Happy New Year and thanks for the information on India. It is good to hear PSPs are adding offerings to generate a mix of revenues.  GDPR is a way of life in the UK and EU so everyone has to work with clients and there customers to ensure compliance. It is the customer's personel data and it needs protecting and the customer's approval before it can be used. Not an insurmountable challenge with all aspects of the PSP operations knowing where the personel data is and who can and canot use or store it. 

09 Jan 2023 Reply Read article

Understanding why we have non-bank payment providers

  Shaju - Trust you are well and please see my latest blog 'Will Payment Service Providers Prosper' on Finextra which should help in answering your questions.

09 Jan 2023 Reply Read article

Understanding why we have non-bank payment providers

  Shaju - excellent question and worthy of a blog in its own right.  On the second question, as the saying goes, I know some one who does. I'll come back to you early in January. Have a happy new year.     Regards       John

30 Dec 2022 Reply Read article

Mandated action on multiple parties is needed for APP fraud prevention

  Ketharaman - thanks for your comments and agree the victim of a scam needs to be recognise their actions. Your example of 'at least until the cops nab the payee and recover the money' is at best a 1 to 1.2 million chance for the victim. The UK banks have systemematically blamed the victim costing victims £1.12 billion in non reimbursed scammed money over four years. Social media platforms in getting paid for fake ads should have due care to their customers enforced. Agree nerds can be conned along with the rest of society and that too must stop. The only way is mandating 'due care' and that means financial penalties for non-compliance. Alternatively there is the W.C.Fields philosophy of "Never give an even break"    

01 Dec 2022 Reply Read article