IBS Journal May 2016
53
Disruptive Threat or Tool? “Bitcoin proved that distributed ledgers can be used to track currency as it is passed from one entity to another.
Where else could we use that? Think about the Student Loans Company tracking money all the way from Treasury to a student’s bank account. Or the Department for International Development tracking money all the way to the aid organisation spending the money in country.” UK Government Minister for the Cabinet Office, Matt Hancock
“The economic and financial market outlook remains uncertain, but we are making progress on many fronts. We have
been strengthening our control environment, upgrading technology and improving the processes by which we adopt clients. We sustained efforts to put remaining legal and regulatory issues behind us. We are working hard to modernise the bank and bring it back to a leadership position in technology. We have launched a new app, Deutsche Bank Mobile, which places us at the forefront of digital banking. This is vital as we seek to reach, and win, a younger generation of clients.” John Cryan and Jürgen Fitschen, Co-CEOs, Deutsche Bank
“The innovation in mobile payments has led to many consumers using their mobile phone to pay – we see
daily use in public transport and in coffee shops, for example. While uptake to date has been steady, many people are gaining confidence in mobile payments and like the convenience and extra functions that come as part of the package. Retailers are encouraging usage with discounts and special deals, and innovations such as immediate peer-to-peer money transfers are opening people’s eyes to the potential improvements to how they currently manage their cash. We’re all used to the triple-check for keys, phone and wallet before we leave the house. By making that just a double-check, mobile phones are looking a good bet to win the day, especially with younger consumers who feel less loyalty to the plastic cards in their wallet.” Alastair Graham, Spokesperson, Prepaid International Forum (PIF)
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