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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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Mukesh Gupta Director at SAP India Pvt ltd
Can banks transform themselves to remain relevant both in the financial economy and for the network economy? Traditionally, the role of the banks have been to be collect money from people who have money, aggregate the same and loan out the money to people who needed it. The banks were needed as there was no way that people who had money could know ...
30 August 2013 /retail
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
According to the Commissioner for Internal Market and Services, Michel Barnier: "Ensuring that public administrations in the EU are modern and efficient is a priority for the European Commission. Switching to e-procurement, and particularly to E-Invoicing, can bring significant savings and make life easier both for the governments and for the...
30 August 2013 /payments
Brett King CEO & Founder at Moven
Recent research has shown that banks spend more on IT than any other industry sector (See Deutsche Bank Research - IT in banks: What does it cost?). In fact, on average banks expend 7.3% of their budgets on technology, where other industries average half of that at 3.7%. Bankers would defend these costs because of high compliance and regulatory co...
14 August 2013 /regulation
Recently I have been embroiled in an interesting debate on Finextra.com regarding the death of cash, or as some may classify it, the premature assassination of cash. Connected with this the threat of BitCoins have recently been extolled throughout the media with the intensity only normally afforded more existential threats such as terrorism or lar...
08 August 2013 /payments /regulation
Retired Member
Just "me, me, me!": although there are some "contactless EMV" standards, each card scheme (Visa, MasterCard and Amex) requires separate testing and certification of contactless terminals. That is simply insane! Add transit-related issues with NFC to the equation (bearing in mind that transit is the key driver for mobile payme...
07 August 2013 /payments
Last post before the summer break. A mid-year revision of my predictions for 2013 made in December last year: 1. Bluetooth Low Energy (BLE) to be on the rise. Tick, tick, tick. Apple is using it (as part of AirDrop), as does Android (for Android Beam - same link) and Microsoft. Moreover, in a surprise twist, The Tile raised $2.8m on Kickstarter f...
30 July 2013
We all like making predictions (and like being right). That's fine when we are doing that for fun. When it comes to business, you'd better "know your shit" (and know when you don't). Getting married to own views and assumptions can cost you money or your (corporate) life. Just ask Kodak, or AltaVista (who refused to buy Google for $1m.....
29 July 2013
Pat Carroll Founder/Executive Chairman at ValidSoft
The breaking news from the US indicating that over 160million credit and debit card numbers have been stolen, whilst not unpredictable, is still quite staggering. Early estimates suggest around $300 million dollars has been stolen, but this figure looks likely to increase dramatically. It appears that a group of criminals utilising malware to in
29 July 2013 /security
Card fees are to be capped in Europe. There is a lot of debate around that decision, and the jury is still out as to the mid- and long-term implications. For example, although Amex is not directly affected by the capping, they can be put under (a lot of) pressure too, by the retailers. However, there is another (major) casualty in the making: iZe...
25 July 2013
PayPal are bearish on cards - "Plastic Credit Cards Will Become Obsolete in 5 Years". Surprise, surprise! Considering that MasterCard are introducing a digital wallet fee which will affect mainly... PayPal (as well as their... plastic card launched just six months ago), that statement is not surprising. As Mark Twain put it, "the re...
25 July 2013 /payments
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