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Thursday, October 13, 2016

WSOMN TIDBIT, 13 OCT

WSOMN: 

AdminBill: (10-12-16)  BY THE WAY, JUST IN CASE YOU MAY BE WONDERING, PROGRESS IS BEING MADE TO SUCH AN EXTENT THAT WE MAY ACTUALLY BE DONE VERY SOON. A KEY COMPONENT, AS I SAID YESTERDAY, WAS THE INTERNATIONAL ROLL OUT OF THE CIPS SYSTEM.

THIS NEW SYSTEM IS DESIGNED REDUCE FRAUD AND THEFT BY MAKING PAYMENTS AND TRANSFERS INSTANTANEOUS.

A SWIFT SYSTEM PAYMENT COULD TAKE 48 TO 72 HOURS AND IS NOT THE BEST. IN THE END THE SWIFT SYSTEM HAD TO MAKE CHANGES WHICH WERE ALREADY PART OF THE CIPS SYSTEM… MAKING IT BASIL 3 COMPLIANT OUT OF THE BOX.

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