Payment Systems

Payment Systems

 

Tobias Baer tackles the issue of payment fraud, credit fraud, and money laundering and explains how the universal payee ID can reduce losses. He identifies how fraud schemes are enabled by and benefit from weaknesses in most banking and payment schemes around the world.

One of the most amazing aspects of working in many different countries is the realization that a few countries have the perfect solution for a problem that costs most other countries literally billions of dollars. One of these things is the universal payee ID. It could massively reduce payment fraud and credit fraud losses and seriously hinder money laundering.

As I’ve discussed in the past, today we face the problem that banks are very much left to their own devices in confirming the purported identity of a customer or counter party. This causes three big problems.

 

The problems and solutions identified in this article include:

  • Payment systems
  • Unique IDs
  • Biometric data collection

 

Read the full article, Why Covid-19 has shown that we need a universal payee ID now to combat fraud, on LinkedIn.

 

David A. Fields provides an eight-week plan for an effective strategic planning process that will engage and enthuse your team of consultants for the year ahead.

If you develop an annual plan for your consulting firm, there’s a decent chance you sit down with your senior team and/or advisors for a day or two to hammer out your objectives, strategies and tactics. (If you don’t engage in any strategic planning for your consulting firm then, as the old saying goes, ‘When you don’t know where you’re going, any road could end up in Newark.’) The annual rigmarole requires substantial effort, time, M&Ms and endurance. It’s a chore.

 

The six steps covered in this article are:

-Report the facts

-Lessons learned and implications

-Revisit vision, values, and mission

-Goals, gaps and objectives

-Strategic Initiatives and Success Metrics

-Quarterly Objectives

 

Read the full article, 8 Weeks to Get Juiced – A Better Strategic Planning Process for Consulting Firms, on David’s website.

David A. Fields offers actionable advice on how to respond to a client when consulting work veers off the rails.

 

When you, your consulting team and your client all stay on task and positive, consulting is a fun, challenging and rewarding profession. When consulting work veers off the rails, though, how should you respond?

Lines are confusing

Let’s say you want to engage in outreach to your prospects. Rupert, SVP of Everything is next in line. So, you drop him a line. He answers and asks you to hold the line. (Didn’t you just drop it?)

Ugh, you’re on hold, but business is on the line. Two minutes of elevator music. That’s where you draw the line. Is it the end of the line for Rupert? Hard to know—it’s a fine line.

 

Read the full article, How Your Consulting Firm Should Deal with Clients that Cross the Line, on David’s website.

Three key points in ninety seconds from Amanda Setili on how to avoid strategy execution melt down.Strategy execution is where everything goes haywire.

 

We can always come up with a good strategy, a good plan for what we want to do, but when the rubber meets the road and you’re actually implementing, that’s where you find out all the things that you maybe didn’t plan for. Frankly, it’s impossible to anticipate everything. One of the keys to effective strategy execution is having clear goals in mind, but also having people empowered to make decisions along the way because you got to enable yourself to adjust course. It used to be that you could plan strategy cycles, every five years, or at least every year. Now you need to be continuously adjusting your strategy. At least every quarter you should be having strategic discussions about what have we done so far, what have we learned, what do we want to change? That process of constantly adjusting course is essential and it’s also essential to make sure that everyone understands where you’re headed so that they can all contribute because frankly, with the speed of change today, you can’t possibly tell everyone what to do. You need to have them clear about what the goal is so that they can anticipate on their own for their own part of the business, how they need to adjust.

 

Watch the video, How to Prevent Strategy Execution Meltdowns, on Youtube.