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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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Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
1. Mr Same Guy yesterday. In the old days – when we launched PC-banking for SMEs and private customers (1982) at Union Bank of Finland we lived with the false impression that we had private and corporate customers – when we defacto only had human customers – in different roles. As a result the user experience was not similar enough across roles. Th...
08 October 2012 /payments
Retired Member
In June this year, NatWest and RBS proudly announced the arrival of the new era of cardless ATM withdrawals. In my comment on that page, I explained that any OS-only financial solution is "almost secure" (which is similar in concept to being "almost pregnant"). There is no "secure" without "secure element". A...
Less than a week ago, Finextra's News section ran a press release by Emu who promised a Holy Grail alternative to Square and iZettle - no dongles, and (almost) no charges (Emu's Web site does prominently display "0% per sale"). That news article mentioned "no charges for the first £1,000 of sales and a flat fee of £4.99 a month af...
07 October 2012 /payments
Brett King CEO & Founder at Moven
Baby Boomers and Gen-X have in common the need to experience life in all it’s glory. Whether that is born out of a sense of adventure, the need for tactile feedback or in the sense of face-to-face social connections, at the core of much of our buying behavior historically has been the need to ‘touch and feel’ a product before a purchase. There’s a...
07 October 2012 /retail
When it comes to payments, London taxi is an interesting microcosm. A few years ago, cash was king and cabbies didn't look elsewhere - it is rumoured that many black cab drivers were filing their tax returns on the basis of earning £50... per week. Things have since moved on. "Mobile" is a familiar part of taxi business now, whether it's ...
04 October 2012 /payments
Last week I had a bizarre conversation with someone who claimed to be "Head of European Business Development at Vodafone" (a big guy with a beard and Vodafone-red rimmed glasses - give me a shout if you know him...) He started the conversation when I was looking at iPhone 5 at Apple Store on Regent Street, with "You'd better buy Andr...
01 October 2012 /payments
We always strive to be first. For some people it becomes an obsession. It becomes their reason for living. Their reason for cheating... nobody remembers second they reason. This seems to be the way in most endeavours - except for banking. The industry that invented the ‘fast follower’ concept has started to struggle. The mentality to be firs...
30 September 2012
Karthikeyan Venkataraman Engagement Manager at Infosys Limited
Recently I was talking to the department head of a leading bank. She told me that her salespeople were using iPads. "Great, What do they use them for?", I asked her and she said "To login remotely to our CRM system". Wow, I thought, what could be a more inefficient way of leveraging mobility. Casting away all the inh...
29 September 2012
Paul Gow CEO at CJC IT Ltd
It occurred to me the other day that in a world where everything seems to come in cycles, market data appears to be no different. If you go back as far as I do in this business and I’m guessing that you do because everyone in this industry seems to have been in it forever (…but that’s for another blog) then you will remember the early years. Bac...
28 September 2012
It took almost two decades for credit card payments (followed by debit cards) to become globally ubiquitous, so it might be reasonable to think that a paradigm shift at the POS will take years to become mainstream. Why would you spend money deploying expensive NFC-enabled (Near Field Communication) POS terminals unless consumers were going to use ...
26 September 2012 /payments
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