29 August 2016

Innovation in Financial Services

A Finextra Community Group

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Archive for: May, 2008
Dean ProcterTransinteract - Sydney

New transaction systems don't require bank consensus

25 May 2008  |  3898 views  |  0 comments | recommendations Recommends 0

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...

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Dean ProcterTransinteract - Sydney

Interchange Battle - Superceded by Technology Innovation?

18 May 2008  |  4062 views  |  2 comments | recommendations Recommends 0

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 inf...

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Dean Procter
Dean ProcterTransinteract - Sydney

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

15 May 2008  |  3735 views  |  0 comments | recommendations Recommends 0

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 bes...

TagsRetail banking
Dean Procter
Dean ProcterTransinteract - Sydney

Bank of Mars announce 'Wally the Robot' valet purchasing

14 May 2008  |  4648 views  |  0 comments | recommendations Recommends 0

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 th...

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Dean Procter
Dean ProcterTransinteract - Sydney

Advanced Thinking in Action with RIM RBC, Thomson Reuters

13 May 2008  |  2430 views  |  0 comments | recommendations Recommends 0

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 d...

Dean Procter
Dean ProcterTransinteract - Sydney

Bank of America's heroic decision to blog with customers

10 May 2008  |  2490 views  |  0 comments | recommendations Recommends 0

I applaud BofA in their bold move into the bloggosphere. I also think that here should be an industry code of conduct for blogging with customers on financial sites, don't cringe - it'll be good for e...

TagsRetail banking
Dean Procter
Dean ProcterTransinteract - Sydney

Poor credit card security bites the bank debit market?

05 May 2008  |  3275 views  |  0 comments | recommendations Recommends 0

Is there irony in this? Maybe it's only a nibble at the moment. There seem to be a lot of pre-paid products coming onto the market being promoted as a safer alternative to credit cards on the internet...

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Retired Member
a non-active Finextra member

Australian banks consider radical payments scheme

05 May 2008  |  4609 views  |  1 comments | recommendations Recommends 0

Australian financial institutions are considering a radical initiative that could see BPAY codes trump bank account numbers. Codenamed MAMBO (Me and My Bank Online), the top-secret BPAY proposal could...

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Founded by Elton Cane
Date 12 Nov 2007
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A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.
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