Moderator: Ralph Silva, Research Director, European Banking & Payments

In this third and final podcast on the subject of wealth management, TowerGroup analyst Bob McDowall focuses on the plight of private banking under the umbrella of wealth management in a period of capital limitations and lack of technical innovation. Private banking customers are now demanding an integrated multichannel approach, an approach that will require innovation and investment. Bob talks about how the vendor community will fulfill the needs of an industry that despite all the problems continues to see technology as a critical component to continued success.

The Sibos 2009 annual conference was held in Hong Kong earlier this month to discuss the issues affecting the wholesale and transaction banking community and this year TowerGroup played a major role. With close to 7,000 attendees, the event was not likely going to result in consensus, but in this period of turmoil there was much common ground to build on. TowerGroup was invited to moderate several key debates as well as produce the closing summary, which necessitated our participation in all the key debates at the event. TowerGroup has produced a series of five podcasts covering the principle debates of the event.

In this podcast we focus on a core component of all Sibos conferences: innovation. This year Sibos was not about specific solutions, but about the process of innovation.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Islamic banking products have never been far from the minds of banking strategists. With the opportunity to tap into a growing US domestic market as well as building access to billions of potential customers, Islamic financial services products stand to become a major revenue stream. In this podcast, we focus on the insurance market, specifically Takaful insurance products that subscribe to Islamic principles. TowerGroup analyst, Karen Pauli, has just published a report entitled âTakaful: Global Opportunities in Islamic Insurance for Carriersâ and she joins us to take us through her findings.

Moderator: Ralph Silva, Research Director, European Banking & Payments

The Sibos 2009 annual conference was held in Hong Kong earlier this month to discuss the issues affecting the wholesale and transaction banking community and this year TowerGroup played a major role. With close to 7,000 attendees, the event was not likely going to result in consensus, but in this period of turmoil there was much common ground to build on. TowerGroup was invited to moderate several key debates as well as produce the closing summary, which necessitated our participation in all the key debates at the event. TowerGroup has produced a series of five podcasts covering the principle debates of the event.

In this third podcast, we talk to Andy Schmidt about his key findings throughout the conference. Andy Schmidt is a Research Director in TowerGroupâs Global Payments service and attended most of the big issue debates as well as a series of vendor meetings throughout the conference. Andy discusses his impression gained at Sibos of the overall market, prospects for vendors, and the future of innovation for the industry.

Moderator: Ralph Silva, Research Director, European Banking & Payments

The Sibos 2009 annual conference was held in Hong Kong earlier this month to discuss the issues affecting the wholesale and transaction banking community and this year TowerGroup played a major role. With close to 7,000 attendees, the event was not likely going to result in consensus, but in this period of turmoil there was much common ground to build on. TowerGroup was invited to moderate several key debates as well as produce the closing summary, which necessitated our participation in all the key debates at the event. TowerGroup has produced a series of five podcasts covering the principle debates of the event.

This podcast focuses on prime brokerage and the changes that resulted in the demise of Lehman Brothers. Dushyant Shahrawat, Senior Research Director in TowerGroupâs Securities & Investments practice, moderated a panel that included John Callegari of Bank of America Merrill Lynch, Juan Carlos Nieto of Index Intelligence, Kim Ivey of Vertex Capital Management, and Dinkar Jetley of Deutsche Bank. Dushyant talks about the changes traditional customers of prime brokers are experiencing and discusses opportunities for the vendor community.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Earnings season has come and gone, but what has it told us about the status of banks? This TowerGroup View podcast covers the lessons learned from the published earnings for the European Tier 1 banks. Retail banking firms are under intense pressure and as a result, IT funding is becoming a priority. European banks are focused on short-term tactical initiatives, mostly around maintenance and replacement solutions, but some banks are being more creative. After a five year hiatus, we are once again talking about shared services with some European banks leading the way back. Although recovery is still embryonic, it does appear that European banks are more willing to explore IT solutions as a method of improving customer service and manage risk, beyond that, itâs still too early for strategic thought to dominate.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Wealth management continues to have problems with trust as clients question the credibility of banks. TowerGroupâs Bob McDowall joins us this week to continue his three part series on wealth managers. In this second installment, Bob focuses on the relationship between wealth management and the advisors, both independent and associated. Bob also discusses how technology can help improve the service levels that wealth managers provide to their customers. He believes that clients should go directly to the wealth managers and if this is to happen, wealth managers will have to bulk up their infrastructures.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Visa International recently invested in mobile payment technology provider Monitise plc. Although the minority investment is of note, TowerGroup believes it is not unique and will not change the marketplace. Monitise will compete in a space with well-funded companies such as Qualcomm's Firethorn and providers such as ClairMail, mFoundry, Vivotech, and Obopay, which maintain alliances, ventures, and investments with competing networks American Express, China Union Pay, Discover Network, JCB Card, MasterCard Worldwide, and leading card-issuing banks. In this weekâs TowerGroup View, Brian Riley provides insight on the impact of this investment and how it relates to the payments industry, the acquired company, and the mobile payments industry.

Moderator: Ralph Silva, Research Director, European Banking & Payments

A few years ago, IT departments responsible for securities and investment operations were spending as if they had access to blank checks. Those days are over, and cost pressures have jumped to the IT department, resulting in difficult compromises. Recent TowerGroup research explored the extent of the cutbacks. The findings are published in a report titled, âNorth American Securities and Investment Firmsâ IT spending: Tightening the Tourniquet as Wounds Heal.â

Across-the-board cuts are the norm, but the cuts are not consistent throughout the IT supply chain. Internal IT expenditures have been curtailed the most, while spending on third-party services and outsourcing has dropped only moderately. The news is not all bad: Not surprisingly, risk management and regulations are in fact driving a slight increase in spending. Europe is in line with the United States in spending cuts, but Asia has not yet experienced significant cutbacks. Peter Delano joins us to talk about the trends and highlight what vendors need to do to keep orders flowing in.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Risk management has always represented a significant portion of IT budgets, but apparently those expenditures were ineffective. The lack of suitable risk management capabilities have been blamed for the current economic predicament. Banks have been trying to address the problem, increasing expenditures on risk infrastructures by 5.8% year over year since 2006, but TowerGroup believes this is only the start. Bob McDowall, Guillermo Kopp, and Rod Nelsestuen have just completed their spending predictions for risk-related IT infrastructures and published their finding in a report titled âGlobal IT Spending Forecast for Risk Management: A Growth Opportunity for Business and Technology.â Bob takes us through their findings, highlighting the inevitable increase in spending levels, the diversity that we see through the G-20 nations and the reliance on governance and compliance models.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Investment advisors are the cornerstone of the financial services industry. Their fiduciary responsibilities have always been heavily regulated, but their credibility has been put into question by this economic downturn. Realizing the importance of sound and neutral advice, President Obama is proposing new regulations to strengthen fiduciary standards. Research Director Sean Cunniff of TowerGroup has been following the proposals closely and has just published a report titled âFiduciary Is Not a Four-Letter Word, But It Sure Changes Things.â His focus is on the extension of fiduciary oversight to intermediaries.

Moderator: Ralph Silva, Research Director, European Banking & Payments

For the week starting July 6, 2009, TowerGroup View focuses on decision management in retail banks. The credit crisis is arguably the most prominent example of a failed decision making process, however, more relevant is the fact that retail banking customers feel frustrated with the level of service brought on by poor decision capabilities. Banks have identified the problems but need to focus on fixing them. TowerGroup's Kathleen Khirallah has been following the development very closely and has just published a report titled: Decision Management in Consumer Banking: Slowly Moving Toward an Integrated Supporting Framework. This succinct report outlines the current problems with decision tools and outlines what banks have to do to correct poor infrastructures.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Bob McDowall's research addresses the principal challenges and opportunities affecting the European banking, securities, and investment management markets. The market is poised for an evolutionary change on the back of regulatory proposals that stand to eliminate all secrecy from an industry built entirely on trust. As the economy continues its uncertain path and banks search for profitability, customers are questioning the need for their high priced advisors, as a result, banks are questioning the their models. This is the first in a series of podcasts dedicated to introduce the European wealth management market, a very mature market catering to the worldâs high net worth individuals.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Commercial cards have generally stayed under the radar throughout this period of economic turmoil, but as it turns out, not far from the minds of legislators. In a report titled âThe Conyers and Durbin Credit Card Bills: What They Could Mean for Commercial Cards,â Steven Murphy outlines two proposed regulations that stand to radically change the commercial card market. Steven is a research director with TowerGroupâs Wholesale Banking practice concentrating on electronic payments and cards for the mid to large market segment. His report highlights the challenges of the commercial card market and outlines how the legislation, if passed, will change the market.

Moderator: Ralph Silva, Research Director, European Banking & Payments

In the current economic climate, payments providers need to attain the maximum margins that a very competitive marketplace permits yet also be flexible to upcoming regulatory turmoil. Many payment providers use outsourcing as a solution. Gareth Lodge, a research director with TowerGroupâs payment practice in its London office, has been following the market closely and has just published his current research on the state of outsourcing in Europe. The report âThe Market for Payments Outsourcing in Europe: An Introductionâ outlines the inevitability of outsourcing to successful payments providers and highlights the areas that providers must consider to assure success. Gareth also discusses the opportunities for the vendor community and the characteristics of sourcing partners that will providers will find most appealing.

Moderator: Ralph Silva, Research Director, European Banking & Payments

In this special TowerGroup View podcast, we talk to Guillermo Kopp about President Obamaâs proposed regulatory changes. The President would like to see additional powers given to the Federal Reserve and the Consumer Protection Agency and he would like to create the Financial Services Oversight Council to police the countless regulatory bodies currently operating in the US. Although these proposals are still in the development stage, the resulting legislation will undoubtedly change the way banks operate. This special Podcast will help listeners understand the nature of the proposals and provide some strategic guidance for both banks and vendors. Guillermo Kopp is a TowerGroup Executive Director and a Global Research Fellow that covers cross industry issues. Along with his research activities, Guillermo also drives TowerGroupâs strategy.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Systemic risk problems have dominated the attention of both domestic and global regulators culminating in a meeting of the G-20 finance ministers tasked with finding a solution. Whatever solution they develop, it is highly likely that banks will have to change both their strategies as well as their operational infrastructures. This week Bob McDowall joins us to discuss his most recent publication entitled, âRegional Fragmentation of G-20 System Risk Initiatives: The Runes are Appearingâ authored in cooperation with Guillermo Kopp and Rod Nelsestuen. The report touches upon the geographic challenges of global systemic risk, it outlines the areas of banks that will be most affected by upcoming regulations and highlights the opportunities for vendors in a vastly changed industry. Bob McDowall is a research director within TowerGroupâs securities and investment practice. He concentrates on the strategic direction of trading environments, asset managers and exchanges and has well over 30 years in the industry.

Moderator: Ralph Silva, Research Director, European Banking & Payments

TowerGroup View focuses on Cash Management this week, a line of business that has seen extraordinary strength in a period where all other lines of business have faltered. Susan Feinberg, an analyst in the Wholesale Banking practice has been covering this space for over 24 years, she discusses the key trends. Susan discusses the reasons why the business has weathered the financial crisis, describes why IT budgets for cash management operations will increase by over 5%, highlight the opportunities for vendors and discusses how customers of cash management products have changed due to the financial crisis and subsequent economic downturn.

Moderator: Ralph Silva, Research Director, European Banking & Payments

This week, TowerGroup View focuses on Security, specifically, personal information theft. With alarming regularity, the media reports disturbing stories of lost laptops with millions of social security numbers, medical records being found in dumpsters and countless people being subjected to identity theft disrupting their lives and putting the banks at considerable risk. George Tubin has been following this subject closely and joins us to take us through his report titled, âProtecting Personal Information: We Lost the Battle, Can we Win the War?â and discusses how the lax security in non financial services industries compromises the integrity of banks. George also discusses the opportunities for technology to lead in minimizing the risk to banks and customers alike.

Moderator: Ralph Silva, Research Director, European Banking & Payments

SEPA (Single Europe Payments Area) is not just for European banks, US banks need to consider what the implementation of a European wide payments area will mean to their global operations. Gareth Lodge, a TowerGroup analyst and author of the recently published report entitled âUS Banks: Standing at the SEPA Crossroadsâ takes us through what the upcoming regulations mean to US banks. He discusses why SEPA will be more beneficial to smaller banks, tells us why itâs dangerous to ignore the regulation and outlines the opportunities for vendors selling into banks.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Summary: This weekâs TowerGroup View is dedicated to upcoming financial services regulations. We discuss with Guillermo Kopp various aspects of regulations the industry is expecting to see over the next year or so. Guillermo outlines the disruption that IT department will have to plan for, the introduction of transparency for regulators and the geographic differences banks can expect. Guillermo also discusses the opportunities new regulations will present vendors and banks alike.

Moderator: Ralph Silva, Research Director, European Banking & Payments

Summary: The week ending May 15 was yet another time of considerable turmoil in our industry. The stress tests announced the previous week were further clarified, and IT and operations departments have started to come to grips with their responsibilities. Bank of America announced that it is abandoning its investment in Citic Bank, and ING reported problems with restructuring, putting into question the viability of the shared services model in a tumultuous period. Also, the British Treasury committee has reported that most stakeholders failed to live up to their responsibilities throughout this crisis. The result will likely be a raft of new regulations.

The focus this week is on the US stress tests and how they affect IT and operations departments. We've heard what the outcome means to a bank"s strategy, but in this podcast, Rod Nelsestuen will help us understand what it means to the operations departments of tier 1 banks and explain how vendors can find opportunities in this period of change.