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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,
Latest on the country front – aiming at > 1. saving tax payer’s money, 2. collecting VAT due – efficiently, 3.pushing the SME-sector into better productivity, 4. increasing work force upward mobility and 5. contributing to CO2 targets. Deadlines issued: Denmark, Singapore, Italy, Spain, Sweden, Finland, Brazil, Greece, Mexico, Norway Latest: Gr...
08 August 2011 /payments
Retired Member
For a while now I have been tracking how banks and financial institutions are using social technologies to provide new services to their customers. I thought that it would be useful to do a round-up of the products that have recently caught my eye for anyone who is interested in the intersection between the social web and banking innovation. For ea...
04 August 2011 /retail
Brett King CEO & Founder at Moven
The US is enamored with outdated and costly modality that is costing Billions in lost revenue and fraud. While many argue the business case for moving to technology like EMV or NFC is hard to justify, the reality is it is incredibly simple to justify based simply on mathematics around today’s massive cost of fraud. The same goes for those that say...
03 August 2011 /payments /regulation
The term “in-house bank” carries a variety of meanings. On one end of the spectrum, it simply refers to the ability of an organization to provide basic internal funding to its subsidiaries; on the other end, it represents a complete banking and financing arm of an organization that performs much like a third party banking institution, including...
03 August 2011 /payments
So now you are able to use your very own webcam as a credit card reader. I'm not sure that holding your card in front of your webcam is going to be that much easier than typing in around 20 characters: the number of people who have enough problems getting themselves "in shot" properly would lead me to think that this isn't going to be al...
02 August 2011 /payments
Part 5 - The Total Disruption of Retail Banking In September of 2009 Ann Minch, a customer of Bank of America, posted a video on YouTube called the “Debtor’s Revolt”. Ann detailed her case against BofA who had unilaterally increased her credit card APR (Annual Percentage Rate) to 30% from its historical 12.99% - quite a jump. She argued as a custom...
01 August 2011 /retail
The Widening Gap between Behavior and Capability In 1980 the average bank in the developed world would receive a visit from a customer once or twice a month, making an average of 20-25 times a year. As ATM machines started to emerge, by the end of the 80s average branch visits per customer were already starting to level off as the primary reason f...
26 July 2011 /retail
Deadlines for paper or otherwise unstructured invoices (e-mail) to the public sector have been issued in many countries - and more are on their way. The reasons for this are obvious: 1. save tax payers money 2. move increasingly scarce human resources from administration to services and other productive tasks 3. kick-start e-invoicing in the econom...
26 July 2011 /payments
When Denmark legislated against paper invoicing in the public sector (including municipalities) back in 2005 service providers (including banks) where not ready with easy solutions for the SMEs. The solution was that enterprises where told to go to the local post office to have invoices scanned. The state paid the cost. Many enterprises (worldwide...
19 July 2011 /payments
We read that PayPal is moving into e-invoicing. Natural step for anyone who wants to stay in the payments business = keep the funding and profitability transaction accounts offer. Some banks have not yet seen the need to make the choice - keep the profitable and stable funding intact or not. In the same news we also read: "Separately, the US ...
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