I recently had a discussion with a consultant on emerging issues and regulatory trends surrounding changes in the payments’ frameworks and technology. The changes in this area are coming rapidly—particularly with a younger generation growing up on digital-only platforms and the internet. The Gen Z group alone represents 40% of global consumers. So, it is no accident that regulators are actively engaged in numerous efforts, from faster payments, to revising regulatory frameworks to allow the technology to provide new and innovative solutions, and to provide for consumer protection. It is difficult to read the “tea leaves” on how all of this change will transform our industry.The first article below, shows the Financial Stability Board delivering roadmaps to the G20 on cross-border payments. The European Union is working on its Digital Finance Strategy that includes measures on innovative and competitive payments markets and efficient international payments. We are likely to see greater direction in this area come out of the G20 meeting in November under the Saudi Arabia Presidency. Staying on top of all these changes will be critical over the next several years.For credit unions, the challenge is figuring out who are going to be the winners and losers in all of these changes, and where a credit union should best place its resources to remain competitive in these new and emerging markets, and regulatory environments. If we as an industry are too slow to change or keep up with the times, it is possible that we will be left behind or fall prey to some disruptive force.That brings me to the question that I asked the consultant about who would be the winner in the faster payments’ reforms that are forthcoming. His answer: “Whoever is faster.” continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
The Advertiser 21 March 2016Family First Comment: Well said! “It is very important that parental conduct which is not considered unreasonable in the Australian community should not be stigmatised as criminal offending in a criminal court.”AN Air Force pilot’s conviction for smacking his son, 12, has been overturned because causing pain during discipline does not “transform” a parent into a criminal, a court has ruled.On Monday, Supreme Court Justice David Peek quashed the pilot’s conviction for aggravated assault, saying his trial was “misdirected” on “the issue of parental correction”.In his judgment, Justice Peek said slaps the pilot delivered to his son’s thigh, leaving “redness” but no bruise, were “not unreasonable” and for the purpose of correcting misbehaviour.“The suffering of some temporary pain and discomfort by the child will not transform a parent attempting to correct a child into a person committing a criminal offence,” he said.“Indeed, the very suffering of temporary emotion may be calculated to impress the child and correct the behaviour, just as much as the accompanying physical discomfort.“Some level of pain is permissible, and in the present case there was little … the mere existence of red marks caused by the punishment does not prove unreasonable correction.“It is very important that parental conduct which is not considered unreasonable in the Australian community should not be stigmatised as criminal offending in a criminal court.”READ MORE: http://www.adelaidenow.com.au/news/south-australia/smacking-a-child-does-not-transform-a-parent-into-a-criminal-sa-supreme-court-rules/news-story/4189d20bb1760f05bb9189a55bfd6b63
1 Brazilian right-back Danilo Brazilian right-back Danilo has snubbed Manchester United and Manchester City and opted to sign for Real Madrid.The defender has agreed a deal to join the Spanish side in the summer from Porto for a fee of around £22m – and that fee could rise to around £28m if the player and club reach a number of targets.The 23-year-old has made 23 appearances in the Portuguese top-flight so far this season and scored three goals – the same amount he notched last season over 28 matches.Since joining Porto in December 2011, the former Santos man has won two Portuguese titles and two cups and will now move to La Liga in the hope of extending his medal collection.Danilo started both of Brazil’s friendlies at the end of March and set up his nation’s winning goal in the 1-0 win over Chile at Arsenal’s Emirates stadium on Sunday.