21 February 2018
Stanley Epstein
Stanley Epstein

Stanley Epstein

Stanley Epstein - Citadel Advantage Ltd

44Posts 184,870Views 52Comments
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.
A post relating to this item from Finextra:

The e-money mandate

27 August 2008  |  6452 views  |  0
Phoebus Athanassiou and Natalia Mas-Guix of the European Central Bank explore current trends, regulatory issues and future prospects for electronic money institutions.

Let the innovators innovate!

04 September 2008  |  2848 views  |  1

If you really want to boost the EU's economic fortunes, improve its competitiveness and facilitate its progressive adaptation to the digital age then you need less regulation, not more.  And the best regulation is often no regulation at all. Innovation needs space to breathe and to flourish, and to do that it should be as unfettered as possible. This is especially true in the development of new products and processes.

Admittedly there are critical issues that are already regulated, and for good reason too. These are issues such as "who is a bank" (or financial institution) and what banks can and cannot do. But these regulations, if constructed correctly should be sufficient to keep legitimate players on a "reasonably" straight and narrow path. They should also be able to keep the "chancers" away.  You also need to have legal certainty and sound procedures for resolving errors and such forth.

But, aside from that, let the innovators innovate - let them have free reign. This is really how we have got this far with our internet, our mobiles, our motorcars, our airliners and all the other "must haves" of Modern 2008 Man (and Women too, of course).    


Comments: (1)

A Finextra member
A Finextra member | 04 September, 2008, 16:18

I'm with you Stanley.

If I were going to suggest adding something to the whole process it would be a touch of minimalism.

This may be percieved as cutting someone out of the pie.

Maybe just trim a bit of the fat and make the pie bigger and we'll all win.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Latest posts from Stanley

Getting digital banking right

22 August 2016  |  7117 views  |  0 comments | recomends Recommends 2 TagsMobile & onlineGroupInnovation in Financial Services

Is the fintech industry killing mobile payments?

16 August 2016  |  8253 views  |  2 comments | recomends Recommends 2 TagsMobile & onlineInnovationGroupInnovation in Financial Services

Reflections on the fintech revolution

14 August 2015  |  6361 views  |  0 comments | recomends Recommends 0 TagsInnovationGroupInnovation in Financial Services

Why I am worried about the future of mobile payments

02 March 2015  |  4208 views  |  3 comments | recomends Recommends 0 TagsMobile & onlinePaymentsGroupInnovation in Financial Services

Understanding Digital Banking

12 January 2015  |  15338 views  |  0 comments | recomends Recommends 1 TagsMobile & onlineInnovationGroupInnovation in Financial Services

Stanley's profile

job title Director
location Modiin
member since 2008
Summary profile See full profile »
Stanley is a Director and co-founder of Citadel Advantage Ltd., an international consultancy to the financial services industry that provides specialist services and training in the areas of operation...

Stanley's expertise

Member since 2006
44 posts52 comments
What Stanley reads

Who's commenting on Stanley's posts