As our first Speaker following the long summer break, BBBF’s very own Dr Gordon Clarke, MD of Monetiqs Pte Ltd, explained global and local payments systems in operation. His main theme, “Where is the money?”, echoed throughout as he explained how money originated and the key developments that led to the current way we make and receive payments today. Here, Gordon was careful to distinguish between “messages” (instructions from customers and banks) and “movements” (the actual movement of funds). 

Gordon cleverly showed the different payments methods used (cash, cheques, “internet banking”, credit cards and “cryptocurrencies”) and how each worked, as well as examining their relative advantages, disadvantages and (most important) costs. Suffice it to say, the payments “space” is one which is continually evolving. 

The audience were then invited to share their experiences and problems, making for some interesting discussion during the networking session held after. 

This event marked a “first” for BBBF with the attendance of its first 9 Associate Members from Laksamana College of Business and we look forward to seeing more of them in the future.