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Account ownership. A hiding place for unexploded bombs

This week’s post is inspired by a comment on inter-company trades; last week’s topics. Inside banks, in all the automated processing, it is the humble “account” that owns the transactions that are booked. The history of banks is filled with sudden discoveries of accounts that were not reconciled and had loss making positions or were […]

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3 Cardinal Sins in Processing Inter-Company Trades

There are three great career wreckers in the Financial Services industry: interest claims, inter-company trades and FX hedging. Inter-company trades, trades between two different legal entities within a group, are the topic for this week’s thoughts. I picked the term “career wreckers” with good reason. There are no happy endings in inter-company trade stories. Well […]

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Uber versus Financial Services. New economy vs. old

What the banks need to learn from Uber. Irony, frustration and a suggestion are the ingredients for this week’s post. Uber, the upstart disrupter of taxi and limousine services, is the inspiration. Irony, because I recently read how a Goldman Sachs executive had moved over to Uber and worked out a whole new way to […]

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