bluuebunny/crossref_metadata_2025 huggingface dataset:
Financial services security risks and remediations
Authors: Arbel Lior
Published: July 2024

Cybercrime routinely targets financial services, which in kind spend lavishly to protect themselves — with notable success, as cyberattacks are often less successful against financial service industries (FSI) than other sectors. Yet the excessive costs of cyber security could be less, and not all FSIs have the resources to pursue an escalating cybercrime conflict. There are several areas that FSIs can focus on to improve their cyber security posture while keeping budgets in check. They can look beyond compliance checks as an acceptable level of protection. They can police access to their networks by supply chain providers with more nuance. They can use prevention to curtail successful attacks that can create astronomical remediation costs. Lastly yet perhaps most crucially, they can encourage board participation by articulating security issues as strategic business considerations. FSIs must look beyond the checks and balances of traditional compliance and governance, and risk questionnaires. They should avoid construing unknown risks due to a lack of IT visibility as acceptable risks, and they must consider creating space for technology and security experts at the highest levels of management, such as mandatory board seats. At a technical level, they should adopt the zero trust security framework of ‘Never Trust, Always Verify’, enhanced monitoring of all IT areas, and unplanned audits to encourage compliance as a continual project. This paper focuses on where FSIs face security risks and how to address them.
Apollo 50: How one museum celebrated the first Moon landing
Authors: Stamm Amy
Published: July 2024

The 50th anniversary of the Apollo 11 Moon landing in July 2019 was an opportunity for the Smithsonian’s National Air and Space Museum to position itself not just as an inspiring and exciting institution but also a leading resource for aerospace knowledge. This article describes the museum’s Apollo 50 social media campaign, which saw engagement and follower numbers grow at a rate more ten times the museum’s average. It explores the strategies driving the campaign, how the museum wrangled a vast amount of content, activities and information into a strategic and cohesive campaign, and the role of social media in sharing the museum’s site-specific Apollo 50 activities with a global audience.
The iterative process of staying relevant in measuring alumni engagement
Authors: Bangs Colleen
Published: July 2024

Accurate measurement of alumni engagement has often been described as somewhat of a mythical creature in postsecondary advancement. The task of creating a measurement tool is daunting, not because it cannot be done but rather because the usefulness of the tool is wholly dependent on what is meaningful to the work of the institution in which it resides. Once a tool is developed, appropriately vetted and implemented, it is imperative that sustainable business infrastructure is in place for it to evolve and adapt with institutional changes over time. This paper provides insight on the process that was undertaken at the University of Calgary to evolve and enhance the Alumni Engagement Scoring Model developed prior to the merger of Development and Alumni Engagement in the organisational structure of the institution. Readers will be provided with strategies to diversify and enhance existing tools to meet the needs of new user groups, sustain buy-in of multiple stakeholders through change and implement systems to stay nimble in a progressive environment. In addition, insight will be provided on the process used to make informed decisions on how to determine metrics that would be most useful for the University of Calgary and the reporting that has been developed as a result.
The EU GDPR and Nigeria’s NDPR: A comparative analysis
Authors: Babalola Olumide
Published: July 2024

It is almost undeniable that the Nigeria Data Protection Regulation (NDPR) derives its inspiration from the European Union General Data Protection Regulation (GDPR). From its title to the contents, the NDPR mirrors its European counterpart in every material respect. Placing both legislation side by side, this paper attempts a comparative review of the similar yet asymmetric regulations. The paper critically analyses the NDPR’s scope, objectives and compliance mechanism vis-à-vis the GDPR’s by interrogating the draftsmen’s intention to arrive at a conclusion on the aptitude of the former.
So you are stuck in a silo? How the University of Calgary Prospect Research and Prospect Management team is helping to solve the challenges of silos one report at a time
Authors: Smolak Dana
Published: July 2024

The Office of Advancement at the University of Calgary is actively dismantling interdepartmental silos, breaking boundaries and enhancing collaboration in order to foster an environment conducive to knowledge exchange.  This paper explores how the university's unique, boundary-crossing approach is bolstering creative problem-solving strategies through the use of data and the development of specialised reports.
Transitioning between DAM systems: Applying the wisdom of Lewis Carroll
Authors: Ward Wright Charlie
Published: July 2024

This is a discussion of the steps necessary to move from an existing digital asset management (DAM) system and migrate to another DAM solution. It walks through the activities from analysing the current environment, assembling the correct team, planning the migration, cleaning up workflows and setting benchmarks for progress. It covers the process and resources necessary to ensure a smooth transition between asset management systems. The reader should be able to use the steps to plan and manage a DAM migration, from vendor selection to implementation and transition.
Exercise Tiger: Assessing the BCM impact of the 2012 Olympics on Canary Wharf
Authors: Evett Jonathan
Published: July 2024

In this paper, collective corporate resilience is studied to see how a culture of sharing information and planning may assist other business communities to prepare for future events. The London 2012 Summer Olympic Games will see huge opportunity for businesses in London, and across Europe, but not without cost. Canary Wharf lies in the heart of London’s Docklands and less than three miles from the Olympic Park at Stratford. Purpose-built as a business district, it accommodates a working population of 95,000 people, is home to some of the world’s leading brands and has a vibrant retail complex of over 200 shops, bars and restaurants. This business community is preparing for every aspect of the Olympics and, in particular, the disruption the Games will bring. As a private estate, the community resilience approach fostered here is both better defined and finite in terms of those it includes as a result. Preparing together with joint exercises, forums and open communications in a network of trusted partners is yielding collective benefits and lending a stronger voice in the call for more information from official agencies. This paper outlines the benefits of collective planning and reports on the success of Canary Wharf’s annual estate-wide business continuity exercise — the first major collective Olympics planning exercise in London.
Capital market trends in Japan: The birth of a new exchange
Authors: Yanagawa Eiichiro
Published: July 2024

Understanding the evolution of best execution and accompanying changes in market structure is essential to any discussion of the current trading environment. Meanwhile, the transformation of exchanges and the pressure from investors seeking best execution have put enormous demands on trading technology. Best execution regulations were introduced in Japan under the amended Securities and Exchange Act (the current Financial Instruments and Exchange Law) in April 2005; however, these new rules are much less detailed and stringent compared to the explicitly specified codes of conduct mandated in Europe and North America. Moreover, with precise definitions of ‘best execution’ left to the discretion of securities firms — the operators themselves — there is scant likelihood of regulations being implemented and standardised on a market-wide basis. By the same token, Japan has yet to witness the dynamic structural market changes and segmentation seen in Europe and North America. This paper examines Japan’s securities market trends based on the acute changes that have taken place in Europe and North America, reviewing the changing environment of the world’s securities exchanges, business opportunities and strategic choices, then delving into the history and current state of Tokyo Stock Exchange’s arrowhead initiative, before concluding with a recap of the events leading to the Japan Exchange Group (JPX) merger. Celent regards competition and diversity as the wellsprings of innovation, and technology as the catalyst for innovation. From this vantage point, Celent is eager to see incremental improvements, but also some disruptive innovation, in Japan’s capital market.
A coherent economic framework to model correlations between PD, LGD and EaD, and its applications in EaD modelling and IFRS-9
Authors: Miu Peter , Ozdemir Bogie
Published: July 2024

This paper proposes an economic framework recognising EaD as a stochastic variable and capturing the PD–LGD, PD–EaD and LGD–EaD correlations. It explains how these correlations can be estimated from historical data, and how PD, LGD and EaD can then be simulated in determining credit VaR. The framework allows credit losses to be more accurately captured, both in terms of the expected credit losses (ECL under IFRS-9 and CECL) and the unexpected tail events in measuring Credit VaR. The framework quantifies the potential underestimation of the tail risk in Credit VaR and the IFRS-9 ECL if the full correlation structure is not captured. By explicitly modelling EaD in a correlated fashion with PD and LGD, lenders can understand and model the increase in funding requirements during downturns. Application in back-testing IFRS-9 ECL is discussed and supplemented by a numerical example.
Measuring financial market liquidity
Authors: Kerry Will
Published: July 2024

This paper introduces a new composite indicator of market liquidity, based on a series of measures developed in the academic literature. The indicator suggests that financial market liquidity was markedly lower in the summer of 2007, following a period of high liquidity. The indicator shows that market liquidity can fall rapidly in times of stress, highlighting the importance of managing this source of risk in the financial system. The views expressed in this paper are those of the author and not necessarily those of the Bank of England.
Activating a large foreign outpatient facility using a systems-based approach to dry runs
Authors: Pariseau Hugo , Balalaa Nahed , O'Brien David M. , Ammash Naser , Gettman Matthew , Khan Muna
Published: July 2024

The value of dry runs as a tool to assess operational readiness when activating healthcare facilities is well documented. However, this paper analyses how the application of this tool is often limited to isolated teams or processes. The paper describes how, 2019, Mayo Clinic was engaged in a consulting capacity to activate a large healthcare facility in the Middle East. A short activation timeline and limited staff exposure to the new facility meant there was a need to conduct a systematic assessment of operational readiness. The systems-based approach to scenario development and dry run execution relied on the involvement of 28 outpatient specialties and 16 support functions. These teams collectively executed dry runs for 74 integrated scenarios and actively participated in the resolution of findings. Integrated scenarios served to validate operations at a systems level, while team-specific scenarios served as supplemental validation for isolated processes. Dry runs exposed a total of 231 findings. High, medium and low priority findings made up 36%, 42% and 22% of total findings, respectively. Prior to activation, 75% of findings were resolved, 9% were no longer applicable and 16% were prioritised as post-activation projects. During activation, no serious patient safety, regulatory or compliance issues were reported, and no major security events occurred. This is evidence that dry runs were successful in exposing latent gaps in workflows; training and education; and infrastructure, equipment, supplies and technology.
Social media storytelling at scale
Authors: Zucker Dan
Published: July 2024

Autodesk, the global 3D design software maker, launched its formal social media programme in 2010. This case study explores the foundational elements of this programme as well as key principles that drive the company’s brand storytelling efforts via social media. Programmatic topics discussed include organisational alignment, operations/infrastructure, and the importance of content and creative. Key principles of Autodesk’s social media storytelling efforts discussed include co-creating stories with customers, planning for real-time marketing and celebrating corporate efforts to create a better world. The goal of this piece is to inspire companies similar in size and complexity to Autodesk to scale efforts to reach audiences with memorable, impactful and personal stories through social media.
Measuring brand loyalty among the US Hispanic population: A within-group study in the carbonated soft drink (CSD) category
Authors: Leslie Neleen S. , Beniflah Jake
Published: July 2024

Brand loyalty has been extensively researched over the last 30 years, but few studies have examined the drivers of brand loyalty among the growing US Hispanic population. Furthermore, the relationship between brand loyalty and the Hispanic consumer has been largely based on the measurement of ‘repeat purchase’ by business practitioners. The current study adapts an existing multidimensional brand loyalty scale, which was validated against a representative sample of US Hispanic consumers. Specifically, our study examines the relationship between three independent variables — nativity, language use and ethnic identification within the Hispanic population — and brand loyalty. Our study finds that brand loyalty is higher among US-born Hispanics, Hispanics whose language of preference is English, and who identify with the American culture more than the Hispanic culture. Results confirm that brand loyalty across all Hispanics is more a myth than reality. Further research is warranted to help determine if brands across different product categories (other than carbonated soft drinks) trigger different dimensions of brand loyalty and help shed light on the theoretical underpinnings of the construct.
Updating your plan after an incident: Incorporating lessons learned from the 7th July London bombings
Authors: Avramidis Poli
Published: July 2024

When a business experiences a disaster, such as the one on 7 July, 2005, it makes people realise just how essential it is to have a proper business continuity plan in place. Also how important it is to consider the way a business works overall, what is critical, what are the priorities, and how and when a business may need to shut down in order to concentrate on critical functions for survival as well as to limit both reputation and financial damage.
Improving management quality in the global airport industry: A re-orientation towards value
Authors: Feldman David
Published: July 2024

The airport industry has undergone massive changes over past years, however, both the managers and the management of airports have gone largely unchanged. Insufficient attention has been paid to how airports should be managed, what types of leaders are required to manage airports and how their success should be measured. The leadership element of airport management is too often neglected. This paper evaluates the quality of management at airports, presents selected best practices and concludes with a series of proposed value-based measurement objectives for airport leaders.
Making urban places attractive to women: Differences that good design can make
Authors: Danes Stefani
Published: July 2024

The vitality of urban business districts is recognised today as a necessary part of a liveable city and a primary goal in urban regeneration. A lively downtown is the sign of a healthy city and an attraction for future residents and investment. Similarly, thriving neighbourhood business districts are an important asset for local residents. Yet, many public spaces in downtowns and local business districts are not women-friendly. The design of such spaces may make them feel uncomfortable, disoriented or unsafe. By considering the interests and sensitivities of women, both practical and psychological, urban spaces can be created which more people can enjoy. The practical factors include size and strength, balance and agility, temperature and metabolism, differences in apparel, preferences in amenities, wayfinding and accessibility. Psychological factors include a sense of security, territorial control, sociability, personal space and ambience. These considerations are distilled into 12 design recommendations, which, although derived from observations in American cities, are likely to be relevant for other major cities as well.
Deconstructing the regulatory impact of the US CLOUD Act: An optimal regulatory approach to ensuring access to data in the cloud?
Authors: Roudev Nick , Baker Lori
Published: July 2024

This paper sets out a framework based on optimal regulatory theory and how to practically implement smart, agile cloud policy in a way that supports business and national/international concerns. The emergence of regulations such as the CLOUD Act, when viewed against the impact of the General Data Protection Regulation (GDPR) and related case law, may contribute to the conflicts that the data protection authorities are experiencing, moving from a ‘blanket’ solution attitude towards a more ‘optimal’ approach. While certain regions and countries are exploring and even opting for data localisation policies, there are a fair number of regulators of privacy, technology, etc demonstrating an evolving understanding of the adverse economic impact of a ‘no-data-outside-the-country’ mentality. Data can be properly protected, not despite leaving a country's borders, but because of it.
Toward an understanding of consumer self-marketing: An examination of gay and lesbian advertising appeals
Authors: Thomas Jane Boyd , Peters Cara
Published: July 2024

Consumers are actively participating in self-marketing online, creating selfadvertisements and presenting their personal brands to others. The purpose of this study is to examine the advertising appeals used in self-marketing by gay men and lesbian women who go online to advertise for a date or partner. A total of 1,200 personal advertisements were content analysed to identify the type of advertising appeal used and differences were then compared by gender via a chi-square test of proportions. Findings show that consumers utilise a variety of advertising appeals in their self-marketing and that differences exist in the usage of the advertising appeals by gender for gay men and lesbian women. With the growth in people who identify as a member of the LGBT community and the growth in acceptance of LGBT people, this research provides new insight at a time when advertising to the LGBT community is no longer about creating separate advertisements targeted toward a niche group, but advertisements that offer inclusion and acceptance of all people. The paper discusses implications for self-marketing and advertising to LGBT consumers.
Generative AI: A master or servant of market research analysis?
Authors: Buckley Andy
Published: July 2024

This paper explores generative AI's potential impact on the analytics element of the market research process, examining whether AI is destined to become an analysis master (which reduces humans to a minor role), or whether it will play the role of a faithful, trusted and tireless servant to human researchers. Version 4.0 of ChatGPT was used to conduct a series of tasks ranging from the analysis of desk research to primary research qualitative transcripts, quantitative survey open-ended comments and numerical data. The paper concludes that the hype around generative AI is indeed justified. In its current state of evolution, ChatGPT is an extraordinarily efficient extractor, organiser, processor and summariser of qualitative, quantitative and secondary research data. However, its capability is more akin to that of a competent junior consultant; for projects which require a greater experience and understanding of the human condition (empathy, intuition, creative and abstract thinking), humans remain as, if not more, important than ever in helping brands to remain relevant and grow in an increasingly fast-moving and complex world. The paper concludes that a generative AI like ChatGPT 4.0 is an extremely smart, tireless, diligent collaborator which frees (or perhaps forces) human researchers to up their game so they can apply their uniquely human skills and value to the research process.
Can data save small businesses? Benefits and challenges of data analytics adoption among small-sized retailers
Authors: Kim Naeun (Lauren) , Kim Terry Haekyung , Park Jinsu
Published: July 2024

Small businesses were recently hit hard by the COVID-19 pandemic, and there has been a crucial need for them to meet changing consumer behaviour and industry trends through data analytics. The purpose of this study is to understand the status of the adoption and utilisation of data analytics among small-sized retailers. Through in-depth interviews with US small business owners in the retail industry, the findings provide an overview of data analytics implementation status among small businesses. With regard to technological factors, the advantages of data analytics utilisation were identified (ie a better understanding of customers, strategic decision making, optimisation of marketing tools and accurate sales/trends forecast). Technological difficulties in understanding data and data analytics tools appeared as challenges. With regard to organisational factors, the small size of the firm and top management support were identified to be influential factors in the data analytics adoption process. However, lack of time, training resources and human resources were identified as major organisational challenges. As for environmental factors, macroeconomic contexts such as the COVID-19 pandemic and dynamic market trends influenced small businesses to adopt data analytics. Based on the technology-organisation-environment framework, the findings contribute to SME research and become a stepping stone to deriving a new framework.
How monitoring can inform and support the retrofit of traditional buildings
Authors: Rye Caroline , Scott Cameron
Published: July 2024

The climate crisis creates an imperative to improve the energy efficiency of our traditional buildings and retrofitting offers opportunities to reduce their energy usage, while creating more comfortable spaces that are affordable to run. Little is known about the performance of traditional buildings, however, and retrofitting may also present risks, particularly with regard to moisture, for both fabric and occupants. Measuring and monitoring the performance of these building is a way to overcome this knowledge gap. By deploying a variety of techniques, it is possible to engage with the complexity of a traditional building to ensure a more informed approach. Monitoring can be used to educate design decisions, provide more accurate input data for modelling, target measures, test treatments, measure effectiveness and guard against risks. It can improve the effectiveness of retrofitting and provide more confidence for retrofitting practices. This paper draws on our experience of providing monitoring services to illustrate some of the ways monitoring can be used to benefit retrofitting. Incorporating measurement and monitoring into retrofit projects ensures that both current and future retrofitting work will genuinely increase the energy efficiency of a traditional building while minimising risks.
Reinstatement cost assessment for insurance purposes: The valuation process
Authors: Massingham David
Published: July 2024

The purpose of this paper is to highlight the purpose of, and outline the methods of building reinstatement valuation (BRV) (also known as reinstatement cost assessment (RCA)) for insurance purposes. The paper looks at some of the common pitfalls of the RCA process.
An engagement scoring model for regional networks
Authors: Holland Alyssa , Meagher Megan
Published: July 2024

Determining programming and activities for regional networks/chapters can be an arduous process for some colleges and universities with the ongoing need to balance the goals of the institution with volunteer expectations. At the University of New Hampshire (UNH), members of the Alumni Relations team worked together to use demographic information and programme metrics to adapt the ‘Go, Give, Help’ alumni engagement score to apply to individual regional networks. Using this method provides full transparency and helps shift the dialogue with volunteers towards goals, objectives and priorities instead of relying on historical activity. This paper will outline the issue of network engagement, what steps were taken to develop the engagement scoring model for regional networks and how this model is currently being utilised at UNH.
GDPR and employee data protection: Cyber security data example
Authors: Watson Deborah , Millerick Ryan
Published: July 2024

This paper explores the implications of the European Union (EU) General Data Protection Regulation (GDPR) on employee personal data, specific to data elements that might be collected by Information Security (IS) in the effort to protect and defend the environment from data breach and exfiltration. GDPR compliance became effective in May 2018, and many organisations are still working through the strategic complexities of GDPR’s impact on their organisation. Using an example of a phishing assessment data set, the paper traverses the potential challenges that an organisation is likely to face. GDPR further defines sensitive information, and using this phishing assessment data, the paper illustrates a project data flow that defines what data would exist, its sensitivity level, the data owner, the data source, the data use, data retention and destruction considerations, as well as reporting and storage.
Case study: An airport ground transportation management programme and contractor
Authors: Willman Karolynn
Published: July 2024

This case study examines the steps involved in managing curbside and ground transportation operations with a contractor when the duties cannot be managed in house. It walks the reader through a variety of steps including observations and interactions with the contractor. The results of the study indicated the effectiveness of a contractor who is in full support of the airport’s Ground Transportation Programme as an extension of internal staff when limited technologies are available on site.
FinTech innovation: Revolutionary or evolutionary business model disruption?
Authors: Bhalla Ravi
Published: July 2024

The next wave of FinTech activity has the potential to provide revolutionary business models. Collaboration between banks and FinTechs has influenced the evolution of banking business models. But the greatest challenge to FinTechs is to maximise and sustain customer adoption. This paper takes an applied approach to analyse the impact FinTech innovation has had on the banking sector and discusses its future. It will provide details of the new operating environment, discuss the evolution of customer experience and the digital banking landscape, and will examine how these areas have disrupted business and operating models. It will also discuss the threat posed by tech giants.
(Re)quest for privacy: How to build consumer trust
Authors: Wennakoski Anna Aurora
Published: July 2024

Due to global phenomena, technical developments, and political and journalistic revelations, it has been claimed that individual data subjects are increasingly losing their faith in the privacy safeguards provided by laws today. In response, legislators on both sides of the Atlantic have been taking an increasing interest in this domain. Nevertheless, consumers are still not necessarily better off — at least not yet. With particular regard to litigation, the challenges remain numerous. This paper examines some recent developments in the domain of privacy litigation, notably in relation to consumers and the notion of harm, as well as the associated challenges. The paper also provides a brief discussion on the Privacy Shield and transatlantic data transfers.
Retailing with purpose: How the pursuit of social responsibility can inspire and sustain retail growth and innovation
Authors: Morrison Gwen , Humlen Anneliza
Published: July 2024

This paper is based on a presentation given by the authors at the Sustainable Brands Conference in San Diego, 2012. It builds upon best-practice retailing examples spanning developed markets such as the UK and USA, as well as developing markets such as Brazil, Peru, Turkey, South Africa and China. The authors share their collective experience drawing from their current work and global studies. The paper showcases success stories of retail leadership guided by a conscientious commitment to purpose over profit. The authors present an inspiring range of examples and describe the different ways that ‘retailing with purpose’ can manifest itself and make a meaningful social difference. From retailers, retail developers, and retailing as a practice, the paper illustrates how concepts such as ‘place-making’, community and employee culture building and sustainable business practices are essential for the value of retail to evolve beyond price or promotion. Many of the examples in this paper have not only survived the recession, but actually thrived while competitors have competed on price, promotions and cutbacks. Moreover, they sustained growth, made innovative offerings, and grew customer base and loyalty. They are proof that a business strategy driven by purpose over profit can ultimately be the most effective and enduring form of innovation and success at retail.
Going it alone: Establishing rates and charges by ordinance. A brief guide
Authors: Bannard David Y.
Published: July 2024

This paper examines the federal legal requirements relating to airport ratemaking in the USA and demonstrates that establishing rates by ordinance or resolution is not only consistent with federal law, but also provides certain benefits to airport operators. Airport operators are permitted to establish rates and charges for the use of their airport by air carriers, by ordinance — an agreement between the airport and the carriers serving the airport is not required. Rates established by ordinance must be fair, reasonable and not unjustly discriminatory and should be established on a compensatory basis; however, different methods may be used for recovering the airport’s costs. Before establishing a new method for imposing rates and charges, and generally before establishing new rates periodically, an airport operator must consult with the air carriers using the airport. Although establishing rates and charges by ordinance is complicated and challenging, it provides necessary flexibility for airport operators and also establishes the baseline when seeking to negotiate an agreement with the air carriers operating at the airport.
Dynamic virality: A review of the Ice Bucket Challenge
Authors: Leonhardt James M. , Ball Amanda
Published: July 2024

Dynamic virality resulted in millions of people pouring buckets of ice water over their heads, while over a billion people watched. Ultimately, this behaviour and the usergenerated content it created led to over US$100m in donations to the Amyotrophic Lateral Sclerosis Association. This paper introduces the concept of dynamic virality by recounting essential events leading up to and surrounding what was popularly referred to as the Ice Bucket Challenge. Readers will gain an appreciation for dynamic (versus traditional) virality and its potential role in social marketing, especially in the promotion of non-profit organisations and their causes.
Delivering loyalty: The evolution of logistics from internal process to critical customer touch point
Authors: Glatzel Christoph , Lange Tim
Published: July 2024

New retail business models and shifting customer demands mean that retail logistics increasingly deliver goods directly to consumers. The new importance of delivery as a customer touch point means that logistics is becoming a critical area of differentiation for retailers. At the same time, innovative technologies are enabling automation of many logistics activities, both at warehouses and on the road. Retailers face structural changes as a result, but also have new opportunities. With its heightened delivery requirements, e-commerce provides a particularly relevant context for examining the coming logistics transformation.
Transparent price competition or two-sided subsidisation in card payments? Is there a need for a more efficient business model for the card industry?
Authors: Leinonen Harry
Published: July 2024

This paper describes the alternative business models for payment instruments and how transparent price competition could increase the efficiency of the payment industry and customers’ payment habits. It takes a critical view of the two-sided market approach and the tourist test methodology, which are based on (cross) subsidies and hence the continuance of biased volumes of payment instruments. The paper argues that unbundling service packages, increased price/cost transparency for all instruments, including cash, and requiring open networks and network governance would increase payment-industry efficiency and development speed considerably, as a result of increased competition. Increased openness and transparency in payments would result in the same type of efficiency improvement as has occurred when other network industries have opened up to increased competition. This seems also to be the road that several competition authorities have taken in a step-wise fashion. In concrete terms, this would mean increased use of debit cards, with cash use limited mainly to small ‘coin-size’ payments, and consumer card credits based on interest rate competition.
Towards a new interior architecture: Taming the GSA's workplace portfolio using work pattern tools
Authors: Kelly Kevin
Published: July 2024

In June 2010, President Obama issued a memorandum to all US executive federal agencies to achieve three goals in the foreseeable future: to eliminate excess federal real properties, to raise the occupancy rates in underused buildings, and to improve the energy efficiency and sustainability of the federal real property portfolio. This directive has re-energised federal agencies to aggressively evaluate their real estate foot-prints, but this eagerness is not without its pitfalls. This paper reviews the history of past government space reductions and why they were not successful. It touches on why, this time around, there are very legitimate reasons to hope that a more structured approach, supported by simple but robust technology, promises a much better result that will reduce federal space in a way that is consistent with agency missions and the way in which people actually work today. The introduction of mobility and mobile technology means a 1980s workplace for a 2010 workforce typically leaves huge tracts of traditional workstations unoccupied over the course of the day, which is a highly questionable use of valuable real estate and carbon, especially when it is clear that out-moded facilities so often fail to support the more collaborative activities of a modern workforce. Furthermore, these low occupancies exist in both public and private workplaces where the reali-sation of the magnitude of recent change has failed to take hold. The paper ends with a discussion of the US General Services Administration's ‘Hallmarks of an Effective Workplace’ and how tools for understanding work patterns based on mobility and interaction make real estate rationali-sation more rational, rendering more effective support for the modern federal workforce and serving as a model for others.
The central role of authentication in fighting fraud in mobile commerce
Authors: Froud David
Published: July 2024

Card fraud is a global problem. Moves to adopt EMV protocols in the US could see a sharp spike in card-no-present fraud if the experience of Europe is followed. The payments sector uses a wide variety of security and authentication methods to keep payments safe. Each one has pros and cons, yet it is only by getting a mix of security, with authentication at its heart, that payments can be properly secure, and the ideal platform for this is mobile.
The EU–US data privacy framework and the impact on companies in the EEA and USA compared to other international data transfer mechanisms
Authors: Determann Lothar , Nebel Michaela , Schmidl Michael
Published: July 2024

Third time's a charm? Companies in the European Economic Area, Switzerland and the UK (EEA+) are considering the pros and cons of the third attempt of the EU Commission and US government to establish interoperability between their data protection and privacy law systems, after the demise of the US Safe Harbor Program and the EU–US Privacy Shield. Should US companies register? Are the efforts worth the potential benefits, given that the new programme has already been challenged and may be invalidated like previous programmes for reasons that businesses cannot control? Should companies that were already enrolled in the previous programmes accept automatic enrolment or leave the programme? Can and should companies in the EEA+ rely on EU–US Data Privacy Framework (DPF) registration for international transfers? Or insist on registration in addition to standard contractual clauses (EU SCC 2021) or other compliance mechanisms? Are data transfer impact assessments (DTIAs) still required for transfers to the US? Should they be updated? This paper seeks to help companies find answers to these questions and (I) outlines the background and context of the Adequacy Decision, (II) explains how US companies can join the DPF, (III) discusses the impact of the Adequacy Decision, (IV) summarises requirements for other compliance mechanisms for international data transfers under the GDPR, (V) compares the DPF to other transfer compliance mechanisms and (VI) provides practical considerations and a summary.
Peculiar or puzzling? How curiosity type influences image and text advert responses
Authors: Parkin Nathan M. , Huff Steven C.
Published: July 2024

This research demonstrates the effect of sensory (or perceptual) and intellectual (or epistemic) curiosity on consumer attitudes about products, brands and advertisements and their purchase behaviours in response to text and image-based advertisements. It supports two important findings: (1) those with inherent intellectual curiosity are more likely to experience more favourable attitudes towards a brand, advertisement or product when exposed to image-based advertisements; and (2) those with inherent sensory curiosity are more likely to experience higher attitudes and purchase intentions in general, but this effect may weaken or even reverse when exposed to image rather than text-based advertisements. These findings suggest that advertisers could be more effective if they tailored their use of image and text-based communications (eg text vs image ads, posts and text or image-dominant channels) to the type of curiosity that is most prominent in the segments they target.
Request for payment: Building block for payments transformation
Authors: Ledford Steve , Thomas Michael J.
Published: July 2024

This paper examines the benefits and drawbacks of debit-based payment systems and credit-based payment systems, and introduces the Request for Payment (RFP), an enhancement to the traditional credit-based system. An RFP allows a biller, supplier or creditor to request a payment be initiated by its customer that will apply to a specific account on the payee’s receivable system, and solves many of the reconciliation issues that exist in traditional credit-based payment systems. Although similar in terms of basic functionality, the RFP has broad applicability, beyond the traditional electronic bill presentment and payment use case. The result is a payment system that combines the simplicity and certainty of credit transfers with the control over payment application associated with interbank debits.
Beyond oral history: Using the Oral History Metadata Synchronizer to enhance access to audiovisual collections
Authors: Breaden Craig , Holmes Callie , Kroh Alex
Published: July 2024

The Oral History Metadata Synchronizer (OHMS) is an open source system designed to transform access to oral history recordings by presenting digital audio or video in conjunction with a transcript and/or index and by connecting users to a particular moment in an interview via browsing or keyword searching. The OHMS system was initially designed to be used with oral history recordings, but can also be used with any digital audio or video files. The first part of this paper will introduce readers to OHMS and give an overview of the important features of the OHMS system. The second part uses a case study of OHMS at the University of Georgia to discuss the challenges of providing access to archival home movie collections and the differences between collections management and content description. The third part presents a case study from Duke University to describe two methods for bypassing the sometimes unwieldy workflow of the OHMS application — Mail Merge and Open Refine — to create description that can be crosswalked into OHMS XML.
Debunking the ten most common myths SMEs have about branding: Why SMEs need real branding to succeed
Authors: Mizera Sue , Risch James
Published: July 2024

Undervaluation of brand remains a potent mistake of many companies today, particularly small and medium-size enterprises (SMEs), whose founders are typically product driven and technical or engineering based. For these SMEs, branding is only for large consumer multinationals like Coke or Nike; or it is ‘fluff’, a luxury requiring enormous budgets for advertising; or it is a logo that, once completed, means branding is done. In fairness to non-specialists, the concept of brand (and by extension branding, meaning its creation and implementation) suffers from inadequate and insufficient explication. For the authors, a brand is the business itself, the whole enterprise: its culture, its strategies, the focus of its future and a major driver of its success. It takes the form of an Octagon, a robust, dynamic platform that captures the real branding the authors refer to in the title. In this paper, the authors identify and debunk the 10 most common myths that SMEs have about branding and that explain why SMEs do not value branding; provide a branding framework to show how branding is much more robust than anyone knew; and finish with three recent cases to demonstrate the transformative changes that branding can deliver to SMEs right from the start.
The contactless business case: How multi-purpose cards ring in new opportunities for the payments industry
Authors: Koether Brintha
Published: July 2024

As many countries around the world have completed their chip card migration with contact cards, they are now considering ways to leverage the latest in dual-interface technology to support new applications with payment cards. There is the opportunity to capture spend in addition to cash as well as improve consumer preference for bank cards in a ‘top of wallet’ effect. This paper shows examples from Asian and European markets, where contactless pilot projects have been successfully implemented, and discusses why and how the technology could be a next step for the payment industry and could be used in specific markets. The author shows the role of performance, security, interoperability and infrastructural criteria in the implementation process: increasingly multi-purpose card combinations are possible as chip card technology advances, and the performance and security measures have consistently improved. This allows banks to form new types of loyalty programmes to acquire new customers as well as capture new, lower value, regular spend.
The strategic risks facing start-ups in the financial sector
Authors: Mcconnell Patrick
Published: July 2024

The majority of start-ups fail. But some succeed, and a very small number succeed spectacularly. And it is the stories of the sometimes vast wealth unlocked by the rare successes that drive entrepreneurs, with stars in their eyes, to embark on a start-up venture. Even though the odds are stacked against them, people still invest their time, effort and wealth pursuing their dreams. Start-ups are risky — very risky — and thus any efforts to reduce the enormous risks facing startup founders must increase the odds of ultimate success. Risk management, therefore, should be a key focus for entrepreneurs and their investors. One of the many types of risk facing every firm is ‘strategic risk’, although for established companies this overarching risk is somewhat mitigated by their deep knowledge of the industries in which they operate and not least by their ready access to capital to grow their business (provided of course that the firm is not already in trouble). There are very many definitions of ‘strategy’ in business, but one, from the guru of competitive strategy, Michael Porter, is simple and clear: ‘[a strategy is] a broad formula for how a business is going to compete, what its goals should be and what policies will be needed to carry out those goals.’ So, if the founders of any company do not know how and with whom the firm is going to compete, what the goals/objectives should be, and how founders plan to achieve those goals, then their venture is unlikely to succeed. This paper identifies some of these critical ‘strategic risks’ by first identifying what is ‘strategy’ and why it is important, especially for start-ups. Then, using common strategy models, key risks for any company and some of the key strategic risks facing start-ups in finance are described. In particular, one extremely important aspect of strategic risk, that of strategic positioning risk, is covered in detail. There is no ‘magic bullet’ to eradicate risks, especially strategic risks, but to illustrate how strategic risks may, to a degree, be mitigated, the paper references three case studies of start-ups in the financial sector: one that has succeeded (to date), one that has failed and one somewhere in the middle. In these cases, the paper does not claim that success or failure is a result of formalised risk management processes, more that key decisions taken along the way addressed some critical strategic risks. The purpose of this paper is not to frighten entrepreneurs with the enormous task confronting them, but to provide a rough map of some terrain to avoid along their journey. There will be many potential pitfalls for every start-up — it makes sense to try to avoid some of the more obvious.