16 August 2017
Bo Harald

Good for society at large

Bo Harald - ZEF, Transmeri, Real Time Economy Program

346Posts 1,288,892Views 253Comments
Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

I am sure. Very sure.

04 February 2015  |  2575 views  |  0

Taking the previous blog forward - asking myself questions - and moving the horizontal slider to the right when considering an issue important (in this case for banks)  - and the vertical slider up when being surer. 

1. Is the stable and cheap funding created by transaction accounts (private & corporate) important (full score for most banks)? How sure am I? Full score.

2. Is modern payment services important for gaining new customers (and thus transaction accounts)? Full score on both.

3. Should payment services be developed to address the full value chain (e-invoicing, e-orders, e-cash flow estimates, e-accounting, e-VAT-reporting etc)? Full scores. 

4. Should these services be integrated into e-banking for SMEs? Full scores.

5. Is the SME-sector of strategic importance for new value creation (and income). Full scores.

6. Is the automation of administrative processes in the SME-sector important for their competitiveness and for the national economy? Full scores.

7. Should automation of administrative processes be a top issue when building the Single European market. Full scores.

So i got all marks in the top-right corner...

Have banks realized the importance of their mission? Have they realized its potential - and what will happen in value chain automation/payments/transaction accounts if they do not take action - as an industry and individually. Have they realized that new services do not need to be deeply integrated and that investments are miniscule. Very few it seems. 

What is missing? Leadership.

TagsPaymentsTransaction banking

Comments: (0)

Comment on this story (membership required)

Latest posts from Bo

e-banking 3.0

10 July 2017  |  4157 views  |  0 comments | recomends Recommends 0 TagsMobile & onlineInnovationGroupDigital Banking Trends

Demise of cash

05 July 2017  |  7529 views  |  0 comments | recomends Recommends 0 TagsCardsInnovationGroupDigital Banking Trends

Bank e-id service rules the waves

04 July 2017  |  5412 views  |  0 comments | recomends Recommends 0 TagsRetail bankingInnovationGroupDigital Banking Trends

Real Time Economy for EU - How?

20 March 2017  |  4321 views  |  0 comments | recomends Recommends 0 TagsMobile & onlineInnovationGroupFintech innovation and startups

Real Time Economy for EU - What?

19 March 2017  |  4085 views  |  0 comments | recomends Recommends 0

Bo's profile

job title Chairman/Founding member
location Helsinki Region
member since 2008
Summary profile See full profile »
Independent advisor and board professional

Bo's expertise

Member since 2008
338 posts253 comments

Who's commenting on Bo's posts

Dean Procter