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Innovation in Financial Services

Archive for: May, 2008

Dean Procter - Transinteract - Sydney | 25/05/2008 | 3421 views

New transaction systems don't require bank consensus

In response to some questions on the Catalyst Code blog I thought I might make a few things clearer here, such why I see a real change coming faster than many may realise. The thrust of the comments was that it would take longer. The reasons proffered are in italics. These comments could probably be applied to most any new e-transaction system whi... Tags: Cards, Payments

Dean Procter - Transinteract - Sydney | 18/05/2008 | 3473 views | 2 comments

Interchange Battle - Superceded by Technology Innovation?

A few minutes in the lab can sometimes change the world. Transactions are going to change. Settlement and interchange will too.I can see how high interchange fees are more likely to encourage competitors in a market dominated by well established brands, and that lower interchange fees could theoretically discourage new entrants considering the infr... Tags: Cards, Retail banking

Dean Procter - Transinteract - Sydney | 15/05/2008 | 3119 views

Telly-Teller ATM from IBM or a mobile in your pocket?

I think the telly-teller is a great initiative to cope with unexpected in-branch demand, but if banks misuse it there could be repercussions. I don't want sensory overload from an honour guard of beseeching screens flanking the path to the human at the branch. I had to think about how I feel during the branch experience and how I feel afterwa... Tags: Retail banking

Dean Procter - Transinteract - Sydney | 14/05/2008 | 4045 views

Bank of Mars announce 'Wally the Robot' valet purchasing

Mars News 2015 Citi read first Due to a total failure of trust in financial instruments, HomoDuoCerebrus Inc, makers of military grade humanoid warrior robot 'Wally the Robot' has teamed up with the Bank of Mars to provide a valet buying service. Simply use your anonymous Bank of Mars card and make any purchase from any merchant anywhere an... Tags: Cards

Dean Procter - Transinteract - Sydney | 13/05/2008 | 1936 views

Advanced Thinking in Action with RIM RBC, Thomson Reuters

When I first saw this announcement on finextra I wondered a moment about a previous blog where I mentioned a letter telling me I'd won an award of a million dollars. I'm sure a few mobile technology developers will be feeling the real thing soon because unlike the scam letter in my email, this public announcement heralds some confident and ...