Lyddon Consulting Services Limited
We are a blue-chip specialist consultancy in international banking, focusing on matters related to the core domain of Payments and Cash Management. That leads to market change aspects such as the Euro, how to implement a change of currency, Single Euro Payments Area, and new services such as Bank Payment Obligation, and SWIFT for Corporates.
It also leads into the regulatory domain and measures such as Payment Services Directive, Anti-Money Laundering Directives, and regulations around cards, mobile, eMoney and mandatory information in funds transfers.
At Lyddon Consulting you will find find both methodologies and training packages to meet your needs and support your change programmes.
Latest posts
Netting and pooling – not the same thing (unless you are the European Central Bank)
Many
multinational corporates have a pooling arrangement for the cash balances owned
by their various subsidiaries. For example this could be with Bank Mendes Gans
in Amsterdam, under Dutch law, with every subsidiary holding as many currency
accounts as it needs and periodically transferring surplus balances into them,
or drawing funds out if they are needed to make payments.
Balances
of one subsidiary are not […]
iPagoo’s insolvency puts question mark against NPA
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 a full member of the Payment […]
Pay.UK governance: ongoing indications of a fiasco
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 style of minutes and their incomplete […]
Pay.UK Board ditches main benefit of ISO20022 adoption
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 the core value point of ISO20022. […]
Can SWIFT’s Global Payment Initiative (“gpi”) help with KPIs on timing and cost of cross-border payments?
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 in 148
currencies. These are meaningful percentages […]
How to avoid credit losses on Open Account trade
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 have a claim on a share […]
Daily Telegraph declines to print response to their critique of our Global Britain paper – but the evidence keeps mounting up
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 sent this response on 11th July […]
Usefulness of faster payment schemes for Cash Management in an economic recession
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 at the right time. Typical first […]
How huge financial liabilities require a quick, clean Brexit
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 if we accept the negotiated
Withdrawal Agreement. […]