Credit card companies and issuing banks are under fire for overcharging on interchange fees, and are now under increasing pressure to justify their costs.Wendy Atkins reports.

Sergio Beristein reports from Brussels on legislative wrangling over how liberalised the consumer credit market should be.
According to an EU draft of the Consumer Credit Directive, obtained by The Banker a paragraph has been added that promotes a free market.

Adel El-Labban, CEO of Bahrain’s Ahli United Bank, talks to Stephen Timewell about progress on his plans for a pan-Gulf retail network.
Most banks in the six states of the increasingly rich Gulf Cooperation Council (GCC) have tended to focus on their domestic markets and as a result remained relatively small compared with the region’s enormous wealth.
But now a few are breaking through traditional barriers, creating regional networks and realising some of the Gulf’s potential.
Bahrain’s Ahli United Bank (AUB) has been a pioneer of mergers and acquisitions in the Gulf and this remains central to the bank’s strategy.

Traditionally, Swift’s involvement with non-financial institutions has been limited but now serious in-roads are being made to provide an easier way for corporates to benefit from the secure network.Frances Maguire reports.
Back in 1996, the board of Swift rejected the suggestion that corporates might use the bank-owned co-operative’s network to communicate with their banks, instead of the banks’ proprietary systems. Until relatively recently only a select number of multinational corporates were able to access Swift, and even then only to confirm foreign exchange transactions with their bank counterparties.

The increasing pressure on banks to cut costs is being matched by the need to ensure their technology is up to scratch with market standards. But should systems be upgraded piecemeal or wholesale?

While the current climate is a good one for banks, they should not ignore major software and core operating systems upgrades and changes if they are to stay ahead of the game and sustain growth. A view from Thomas Balgheim and Trevor Gruzin.

As banking requirements advance, the systems and software required to service core banking operations grow ever more complex. The solution, it appears, is a flexible system that can adapt and fit into its new environment.Dan Barnes reports.

Another pronounced effect of aging core banking systems was heard clearly. Of those surveyed, 47% cited cost as a core banking concern.

A recent Accenture and SAP survey revealed that banks worldwide need to update core banking systems to realise future success. The survey finds interesting regional differences in the readiness for change, as well as different views of IT and business.

Is the banking sector entering the next era of financial services IT or is it just undertaking another round of replicating systems?Martin Whybrow investigates.
It is understandable that the phrase ‘service oriented architecture’ (SOA) is met with scepticism in some quarters. Whatever tags are bandied around, a growing number of banks are embarking on major projects aimed at transforming their operations.