Wall street – Money Never sleeps


Canary Wharf is a major business and financial...

Canary Wharf is a major business and financial centre and is home to some of the UK’s tallest buildings (Photo credit: Wikipedia)

Its been close to 7 years , i have spent in investment banking world. Though in technology , i still have seen the business while i worked in London. When i first entered my office in London , i felt i was in a world where people are running around as if they are about to loose their money. Business would almost kill you if you are not meeting the expectations. And fortunately or unfortunately i landed working in London with a group where calling a day hectic was a very small thing to do.

I still remember when i met my boss , there were two other team members who were constantly speaking to someone as if the person on the other end is about to kill them. That is when i got to know that this world is like living in forest “If you want to survive you have to be fit. No other choice.” Its all about money in investment bank. I used to feel people are greedy sometimes, but its not about greed . The market it self has set such a high expectations that during the good times that i remember a small drop in profit would leave people unsatisfied.

There was only one word around ” Client Client and client” . Working for client became my passion . Looking at their reports sorting out there issues was more of a passion than profession for me. And it was bound to happen as you get to learn so much.

English: Morgan Stanley's office on Times Square

English: Morgan Stanley’s office on Times Square (Photo credit: Wikipedia)

Even after i used to leave work i used to get calls from my boss. Blackberry kept vibrating , emails floating around, simply saying one thing ” Where is my money”.  And i used to wonder that why can someone not take one nice deep breath and relax and enjoy with family . But the immense pressure people saw and experienced , it was all about money. Bad times had already started. People getting fired, bonus getting affected , salary hike was issue but eventually it was all about making money. Raise capital , keep the firm well capitalized. Keep the balance sheet tied up. Keep the investors happy.

Why and why all this.  Because it was all about one  thing and that is “Money”

Just like we humans were not able to sleep in this investment banking world in bad times. ” Money never sleeps in this world. Be it good or bad time ” Its all about money

For now this is Shwetal signing off from here… Asta la vista … Enjoy reading and keep liking.

Shwetal – An Aspiring writer.


Withdraw cash from your cell phone — Must read

The courtesy of this article is bankingtech.com and its a reblog. So i dont claim that i am writing this but the intention is to spread the knowledge.


While most large banks in the UK offer a mobile app, some do not yet offer mobile cash withdrawal as a service. That is likely to change soon, according to Ian Byrne, banking director UK and Ireland at ATM maker Wincor Nixdorf.

“The technology is here today – it’s not an abstract concept,” he said. “Banks have held off investing in retail for many years, partly because ATMs have a long life, but that life is fast coming to an end. In three years’ time, there won’t be a major bank that doesn’t offer mobile cash withdrawal.”

This month, Wincor Nixdorf has developed a mobile cash app that works on both Android and Apple iOS device, so that customers can withdraw money from their ATM without a debit card. It works by sending the customer a QR code for the transaction, together with directions to the nearest ATM. Using the Wincor Nixdorf system, the customer can select the mobile cash function on the ATM and then control the rest of the transaction from their smartphone.

The service is not entirely new – NatWest has been offering cash withdrawal through its mobile app since June last year. But the firm says it is the first vendor of ATMs to integrate its service in Apple passbook using Apple passes.  The QR code is stored in Apple passbook or the mobile cash app.

According to Byrne, the technology to make cardless withdrawals is relatively simple – a connection between a phone and the computer behind the ATM. However, the majority of ATMs currently in the market lack NFC technology or the barcode scanner needed to take the payment from a mobile user with a QR code.  Once these machines have been replaced, he expects to see a dramatic surge in uptake.

“Customers are comfortable using an iPhone or iPad with their friends, and now they are increasingly happy to use them to interact with their bank,” he said. “A similar situation happened with mobile airline bookings. It was coming for years, and then suddenly within less than 12 months it was everywhere.”

Despite the enthusiasm of Wincor Nixdorf, mobile cash withdrawals have not had an easy ride. Last year, NatWest’s get cash app was hit by hackers, who used an online scam to get customer banking details which were then entered into the mobile app and used to withdraw cash without the victim’s knowledge. The app was temporarily suspended in October but is now back online.

However, Wincor Nixdorf insists that dependent on the security and authentication used at the ATM, there is no reason why a mobile cannot be just as secure as a card. Mobile devices often contain technologies such as GPS that track the user’s location, front-facing cameras that can be used for face-recognition, and other biometric tools such as voice recognition technology and in some cases fingerprint technology.

Other observers have expressed similar views about the potential for mobile security. In December, Ben Knieff, head of fraud at financial crime and technology specialist NICE Actimize told Banking Technology that mobile banking could eventually become safer than online banking.

“While consumers didn’t like biometrics 10 or even five years ago, rising usage of the technology on sites like Facebook has made it more acceptable,” he said. “Consumer sentiment is changing, and I believe there could actually be an opportunity to use some of these technologies to make mobile banking even safer than internet banking is today.”