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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,
We all know how burning the need to save costs is in the public sector - to have to borrow less and avoid competitiveness destroying tax hikes etc. When this is coupled with a need to move a soon scarce workforce to more productive, better paid and more motivating tasks - which will take time - it is obvious: NO TIME TO LOSE - structural and wide...
17 September 2011 /payments
Pat Carroll Founder/Executive Chairman at ValidSoft
Increasingly the answer is “when it’s a telephone company”. Last week’s news that Canadian telco Rogers had filed for a banking licence was just the latest example of the competition between banking and mobile telephony. Rogers, which controls 36% of the Canadian mobile markets, has filed with the Canadian federal government to open a bank, and the...
15 September 2011 /security
Retired Member
Here in the UK, mortgage providers are already sowing the seeds of the next housing bubble. I read in this weekend’s Telegraph about a product innovation that is ‘designed to help first-time buyers get on the housing ladder’. Expecting to read about how house prices would continue to fall to affordable levels, and thus enable people to actually ...
13 September 2011 /regulation /retail
Rereading Christensen’s Innovator’s Dilemma. Some takes (emphasis mine) : - most successful enterprises get into deep trouble sooner or later and one theme common to these failures is that the decisions that led to failure were made when the leaders were widely regarded as the best in the world - Good management was the reason for failing to stay a...
12 September 2011 /payments
Ward Hagenaar Head of Consulting - Co-Founder at PaymentGenes
I used to work at a large payments processor focussed on POS card transactions and ACH payments. Around 2000 we started adding e-commerce propositions, typicaly low volume high investment activity at that time. At first we missed success due to our focus on security with SET, the protocol from the brands based on a PKI infrastructure. PKI proved t...
09 September 2011
Brett King CEO & Founder at Moven
Last year I commented at SIBOS that there was finally the realization that things weren't returning to normal - a new normal was emerging. This was a common theme emerging from the myriad of discussions and debates over how the industry would emerge from the wreckage of the Global Financial Crisis. In their typical prophetical style, the Innotribe ...
09 September 2011 /payments /retail
The announcement that the Canadian carrier Rogers Telecom has applied for a banking license should hardly come as a shock to the retail banking fraternity. There is already a plethera of mobile carriers fully engaged in mobile payments right now, from Safaricom in Kenya, Orange (with Barclays) in the UK, the ISIS collaboration in the US, LG Telec...
08 September 2011 /payments
Thoughts on the outcome of the debate on cloud computing and SaaS In my pursuit to understand cloud computing without frills, I found the document on NIST portal (http://csrc.nist.gov/publications/drafts/800-145/Draft-SP-800-145_cloud-definition.pdf) very informative and truly amazing; followed this up with ‘Gartner Highlights Five Attributes of C...
04 September 2011 /retail
Although it is a long-time off yet, we can now envisage a time when most of the developed world, and indeed most of the developing world will no longer deal in hard currency. There are a number of drivers for this: 1. Impact of mobile payments 2. Tighter money laundering requirements, and 3. Cost of physical handling versus electronic transactions ...
02 September 2011 /payments /regulation
We often come across statements that e-invoicing is a domestic issue - the cross border part is so small (some 5%) that we do not really need to care. This is a false picture as can be arrived at by just looking at the volumes of cross-border trade. The reason for this misunderstanding is that enterprises have to establish local subsidiaries and t...
01 September 2011 /payments
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