20 April 2018
Pat Carroll


Pat Carroll - ValidSoft

79Posts 354,030Views 40Comments
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.

Brett King Raises an Interesting Point...

10 December 2013  |  2133 views  |  1

Brett King’s recent article on ‘Banking’s new playground’ raises some interesting points as to ‘how Africa will show the way’. 

Smart phone penetration in Africa is currently less than 15% and projected to be an estimated 40% by 2017. This means that mobile banking and payments service providers will have to service both Smart phones and Feature phones for the foreseeable future in order to maintain their target deployment levels.

This presents significant challenges for the service providers in the provisioning of appropriate security, which will be essential in engendering trust and a competitive advantage in winning/retaining market share for those that get it right.

Sadly, virtually all types of traditional security go out the window in this new emerging and fledgling mobile payments landscape. Whilst functionality, speed and efficiency will be the front line of the battle, the winners and losers on the battle field will be determined by trust and loyalty. Provisioning security that is intuitive, low/no friction and for the most part, invisible, is the key to being successful and creating true competitive advantage in the African market.

TagsMobile & onlinePayments

Comments: (1)

Andrew Smith
Andrew Smith - CB Infrastructure - London | 11 December, 2013, 18:02

This is something I agree on 100%.


The key is being able to authenticate a user once in as secure a fashion as possible, then being able to authenticate that user each subsequent time they use the service quickly and easily, and (and this is very important) still be able to challenge that authentication if actions out of the ordinary start to occure.


This is an area I've been working hard in, and it's not easy. We've even had to develop our own Patent Pending protocols and communications. But it's been worth it...

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job title Founder/Executive Chairman
location London
member since 2011
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Throughout his career, Pat has been at the forefront of industry thinking, representing organisations on industry bodies and leading participation in industry initiatives. At ValidSoft, he leads the R...

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