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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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At launch, Google Wallet (GW) was based on Trusted Service Manager (TSM) business model, similar to the one still favoured by the mobile network operators (MNOs), e.g. ISIS. Under that scenario, GW offered access to its embedded Secure Element for storing card details and authentication credentials. Unlike MNOs, GW was not greedy and offered reaso...
29 August 2012 /payments
Google is trying to inject new life into its mobile wallet platform by launching a cloud-based version of the app that can be linked to Visa, American Express and Discover cards. Will it be enough? When it was launched in 2011, Google Wallet was presented as the ultimate service that would take the NFC mobile payments revolution by surprise but ...
22 August 2012 /payments /retail
I wrote my last blog about the Future of Mobile Banking Conference more than two months ago, before a busy June, summer holidays, and the Olympics. It’s now time to meet my promise to highlight some of the key points of discussion. One topic which came up several times was the on-going debate between HTML5 and native apps. It’s an interesting debat...
21 August 2012
Nick Ogden Chairman at Ogden Research
Earlier this month, the Bank of England launched the Funding for Lending scheme, to lend money at below market rates to financial institutions. It is designed to prompt banks and lenders to make more money available to homeowners and businesses. This renewed focus on bank lending to British businesses has intensified since Project Merlin, the attem...
14 August 2012 /retail
Brett King CEO & Founder at Moven
Square and Starbucks just announced their intent to form a partnership for the purpose of improving or 'revolutionizing' in-store payments around the approximately 1,700 retail stores and 5,000 points of presence in the USA. Square has had phenomenal success growing their merchant base to 2 million users in just over 2 years, which when taken in t...
08 August 2012 /payments
I was listening to some music from my youth - Little Fluffy Clouds - The Orb - whilst watching the thunder clouds gather outside of my office. We all know that clouds live in the sky, these amorphous collections of water droplets high above our heads, drifting from location to location, with no intervention from us on the ground. To a great extent...
07 August 2012 /security /regulation
In the Olympics, after years of training and dedication it seems that in the eyes of the media and the public, it all comes down to winning or losing. An individual may have achieved an outstanding personal best and even won silver or bronze (why else would anyone swim against Michael Phelps?) but this seems to be viewed almost as a consolation pri...
03 August 2012
Sometimes, to understand where you need to go, you need to look back at what the past held. Banks previously employed a silo-based approach towards pricing and reacted only to competitive offerings when required. Supply and demand largely influenced prices and rates, which were considered in the context of other banks’ offerings, rather than from ...
03 August 2012 /retail /wholesale
Competition for high net worth (HNW) clients is pushing banks to innovate around new product offerings. A huge influx of wealth & private banking businesses has sprung up in the region, focusing on the wealth that is being generated domestically. This is typically new money, first generation wealth and therein lays the challenge for establishe...
20 July 2012 /retail
The following fact always comes as a surprise to many people: there are very few technologies (as opposed to features) that Apple actually invented. Take iPhone, for example: Apple simply "glued" together (OK, it was far from simple and trivial, but still) components and technologies that existed for a number of years elsewhere. It all s...
18 July 2012 /payments
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