Open Banking will change the way payments are managed, not just in the UK but around the world. The objective is to improve competition and innovation in the payment industry, which reinforces the UK’s position at the forefront of payments. This is great news for consumers and businesses of all sizes for whom payments will become easier, more secure, and with an improved user experience.
You’ve got enough on your plate making sure your environment is adequately protected against further attacks, so here is a brief, common sense explanation of the most important things you need to know about the CSP and what you need to do to prepare.
Ring-fencing is a new regulation that requires the largest UK banks to separate their core retail banking services from their investment banking and international banking activities.
The changes this shift will require, impacting many customers whether they are businesses, consumers or indeed other banks, are numerous and complex to say the least.
As organizations bear the daily burden of protecting their payments, one question looms large: what can be done?
Strategic Treasurer’s Craig Jeffery asked that and more when he spoke with security and business payments experts from Bottomline Technologies, a leader in business payment automation technology for more than 30 years.
What if you could give your organization an unfair advantage – an extra level of competitiveness – with Swift’s Customer Security Programme (CSP)?
If you aren’t sure what security has to do with your company’s ability to compete, let me explain.
For a business to achieve truly sustainable success, every single aspect of the organization has to function as effectively as possible. You can offer the best products and services in your industry and have a killer sales and marketing plan to back it up, but unless your behind the scenes business practices are buttoned up (particularly your payment practices), all of your efforts will struggle to achieve your desired levels of success.
Here are 5 steps to create an effective payment strategy that will make your business more competitive…