FT story of iPagoo’s freezing by the FCA
We have recently blogged about NPA and Pay.UK’s loose governance procedures generally, but we need to focus in on the case of IPagoo/Orwell, and its implications for New Payments Architecture (“NPA”), and whether NPA is soundly based.
NPA is essentially the brainchild of Orwell’s CEO and CTO.
Orwell’s CEO was […]
Having taken a break from following the governance of Pay.UK
for a while, a quick skim underlines the prevailing chaos. We have already
written about the ditching of a key feature of ISO20022 XML and the broken
governance arrangements that have permitted this.
There is a claim to openness about Pay.UK’s affairs, but this is belied by both the […]
Pay.UK was set up to deliver a New Payments Architecture
(“NPA”) for the UK, implementing the blueprint that was passed to them by the
Payment Strategy Forum.
NPA would be based on the usage of the ISO20022 XML data format to enable rich data to flow up and down the payment chain between the two endpoints. This is […]
On the face
of it, SWIFT’s Global Payment Initiative, or “gpi”, should make a major
contribution to monitoring the cost and time expended on cross-border payments.
SWIFT
claims that US$40 trillion of payments were sent over gpi in 2018, that 3,500+
banks have signed up to it, and that over US$300bn are now being sent every day […]
There have been several major bankruptcies in the UK recently in which ordinary, unsecured creditors have taken a major loss. These are creditors who have delivered supplies on Open Account. As soon as the delivery is accepted by the Debtor, the Creditor no longer has specific title to the goods: instead they […]
Jeremy Warner published an article in the Daily Telegraph on 9th July, taking issue with our Global Britain paper “Why the Eurozone’s fate makes an immediate Brexit vital”.
The title of
Jeremy’s article was “Claims that Britain could face a EUR200bn EU bailout bill
if it fails to execute a clean, no deal Brexit are alarmist and unwarranted”.
We […]
First published by AccountingCPD.net
There
appears to be a consensus that the world economy, and particularly parts of the
Eurozone, are slowing down or even already in recession. For Cash Managers this
is always the signal for tightening the belt, so as to ensure that their
principle objective is achieved: to have the right amount of money in the right
place […]
We have had a paper published today through the Global Britan think tank about the fate of the Eurozone.
It has been endorsed by Steve Baker MP, the former Brexit minister who sits on the Treasury Select Committee of the House of Commons:
“This alarming report exposes the huge contingent
liabilities with which the UK will be saddled […]
There
have been many new entrants – usually non-banks – into the foreign exchange
business whose value proposition is to reduce or eliminate the margin that
traditional banks add to or deduct from the interbank rate in order to
determine the rate quoted to the end-user client.
If the client
is an enterprise rather than a consumer, it […]
This is the eighth and
final blog in our series on the Contingent Reimbursement Model code (“CReM”)
that purports to offer customers strong protection against certain types of
Authorised Push Payment Fraud, or “APPF”.
This one concerns the “expectations”
and “standards” that firms should abide by, if they are signatories to the
code. Firms have to live up to “expectations” and […]