Profile

Location

Brussels

Member since

2017

Reads

Capilever Bankloch Blog

Writes about

Security Payments Regulation & Compliance People Wealth management Retail banking Sustainable Cloud DevOps Start ups Financial inclusion Cryptocurrency Markets Predictions

Joris's blog archive

2024 (1) 2023 (23) 2022 (13) 2021 (16) 2020 (35) 2019 (14) 2017 (1)

Joris Lochy

Product Management Consultant | Co-founder at Capilever

Message Posts: 111 Comments: 17

Bio Independent Product Management Consultant, helping customers in the Fintech space to innovate, i.e. from ideation to conceptualization to implementation, taking on different roles and responsibilities (business analysis, functional and technical design, solution architecture and project management). Career History Active in the financial services industry, since 2003: - 8 years at Accenture - 3 years at CSC - 3 years at Deutsche Bank - 3.5 years at The Glue - 3.5 years at Monizze

Blogs

Payments strategies 2015-2020-2030

The Art of Checkout: Digital and Physical Shopping Experiences

10 Jan 2024

Every business inevitably engages in a checkout journey. In B2B contexts with low-volume but high-value transactions, this can be a lengthy, manual process. Nevertheless, the same three key steps can always be identified: Finding and Selecting a Product or Service Collecting and Delivering the Product or Service Paying for the Product or Servic...

Fintech World

The Shift to Trust-Based Partnerships in Financial Services: Aligning the objectives

18 Dec 2023

In the dynamic world of financial services, rapid innovation, rising customer expectations, and increasing complexity are the norm. This reality necessitates a shift from traditional in-house operations to more specialized, external partnerships. Historically, these relationships have predominantly followed a customer-supplier model, focusing mainl...

Data Management and Governance

The Unseen Backbone of Banking: A Deep Dive into Matching and Reconciliation

01 Dec 2023

Last year I celebrated two decades of immersion in IT, specifically within the Financial Services sector. During this period I have been a witness to remarkable transformations in banking and technology. The emergence of Fintech companies and their customer-centric approach, along with significant advancements in software engineering like Agile me...

Banking Strategy, Digital and Transformation

Beyond Imagination: The Rise and Evolution of Generative AI Tools

26 Nov 2023

Generative AI has revolutionized the way we create and interact with digital content. Since the launch of Dall-E in July 2022 and ChatGPT in November 2022, the field has seen unprecedented growth. This technology, initially popularized by OpenAI’s ChatGPT, has now been embraced by major tech players like Microsoft and Google, as well as a plethora...

See all Joris's blogs

Joris is Commenting on

The Unseen Backbone of Banking: A Deep Dive into Matching and Reconciliation

If the payment amount is not matching in full with the invoice for a legitimate reason, it can still not be handled by the structured comment, but it should be possible for the matching to correctly handle this (and expect / anticipate this). If invoice indicates that 80% should be paid on delivery and 20% on installation, it is possible to use 2 times the same structured comment, but obviously you will expect then 2 payments on different payment dates.

07 Dec 2023 Reply Read article

The Unseen Backbone of Banking: A Deep Dive into Matching and Reconciliation

Thanks for the feedback. The "checksum method" in Belgium unfortunately does not solve the issue that customers pay the incorrect amount. The structured comment put on a lot of wire transfers in Belgium is a 12 digit code, for which the checksum is just a modulo 97 of the first 10 digits. So checksum guarantees quite well that the right structured comment is entered, but it does not guarantee if right amount is used. For this, many companies work with QR codes on their invoice (and in future SEPA Request-to-Pay could be used), but a lot of customers don't use this QR code, so issue with incorrect amounts remains indeed a big hassle for most companies.

04 Dec 2023 Reply Read article

Beyond the Surface: The concept of Underbanked in Developed countries

Scott, thanks a lot for the feedback. Much appreciated. Indeed even though the list of examples I gave in the article is already quite long, this list is far from exhaustive. A few more examples are: * Discrimination against certain minorities. Although laws exist to avoid this, we can not ignore there is an inherent (often unintentional) bias both in the automated risk algorithm and manual risk decision process. This means that certain minority groups are definitely "underbanked". * For medical insurance, obviously people with a history of cancer is not the only example. Everyone with a history of medical expenses or pre-existing conditions might be impacted. In many countries medical insurances are even more expensive for women, due to the expected medical costs associated with child birth. * Any form of non-traditional employment. In the blog I refer to freelancers and gig-workers, but obviously other non-traditional roles like e.g. artists, performers, or creatives are also impacted. * People with disabilities might need specialized financial products and services that aren't widely available or are offered at higher costs. * Language barriers for non-native speakers * Temporary Residents and people doing remote work (due to complex tax regulations) * ... Clearly the list is enormous, leading to a considerable percentage of the population being underbanked in some form.

29 Aug 2023 Reply Read article

In the Blink of an Eye: How the Digital Age Intensifies the Risk of Bank Runs

Sorry, I think there is a misunderstanding of what I meant here with term deposits. Indeed obviously if the bank invests my saving deposits in term deposits or any othe bonds this doesn't change anything to the liquidity of my saving deposits. What I mean here with term deposits, is that the customer invests directly his excess saving deposits in term deposits. This could be government bonds, but also term deposits offered by the bank. It's this last type I am referring to here. When term deposits are offered by the bank, the amount and duration can be very flexible, making it a good complement for saving deposits. The big difference with those term deposits (typically with maturity of 3, 5 or 10 years), is that the customer has to pay a penalty if he wants to liquidate them before maturity date. This makes the customer less inclined to quickly liquidate in case of a panic.

04 Jun 2023 Reply Read article