News & Views - Savantor

Trust is the issue

Friday, 29 May 2009

It seems like anyone and everyone is jumping on the financial services bandwagon these days. Following Tesco’s move towards a greater presence in the market we had M&S, John Lewis and Boots all looking to beef up their offerings. We now hear that Virgin are considering an internet bank and Facebook is to start testing a payment system with application developers "in several weeks" according to venturebeat. Although tests involve a small number of developers and details are still being discussed, such an initiative would provide developers with the possibility of integrating a Facebook-branded payment system into their applications. Thus, application developers would accept payments directly inside their Facebook application and users could conduct transactions and purchase virtual and physical products and services without using third party payment platforms such as PayPal. According to venturebeat such a platform would incorporate a "universal currency" associated to a user's login, allowing members to offer their payment related details only once, while transactions could be made both within Facebook and across third parties using Facebook Connect.

All of this is happening against a backdrop of consumer mistrust of banks which seems almost on a par with their mistrust of politicians. A survey by S1 showed that trust in banks among consumers has been pushed to an all-time low finding that only 9% of consumer respondents are currently confident in financial institutions. The public furore over political expenses is a good example of how disaffected the British public are in institutions they previously trusted. It seems that big name retailers and social networking sites are becoming the sources of financial stability consumers look for during the recession rather than banks.

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Payments Workshop Material

"Savantor helped ACI build a payments onboarding workshop for new technical staff in ACI EMEA. Their extensive experience took our outline and built a great starting presentation of industry facts that we have now customised further into a half day session that is used for all new joiners. Our Americas and APAC regions have also taken the material and customised it for their regions. A great job by Savantor has meant new joiners to ACI hit the ground running."

Richard Sanders, Principal Solution Consultant - ACI - Worldwide EMEA

Complex Cards Business Transformation

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Ricardo Gomez, Director - Operations & Technology - WiZink Bank - Spain

New Fuel Card Guidelines

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Marie Costers, General Manager - Clear2Pay Open Test Solutions

Acquiring market insight and strategy review

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Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

Payments Platform Strategy and Sourcing

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Evert R Fekkes, SVP - Payment & Savings Services - Rabobank Nederland

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Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Acquirer Transformation

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Michael Liquornik, Executive Vice President - Neovia Financial - UK

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Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

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