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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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In response to the blog about "Google partners Citi and MasterCard on NFC m-payments", I thought I would give you my thoughts on the NFC options that are out there. It might only be Citi for now, but I suspect all of the major banks are looking at this. There are effectively 3 ways of achieving NFC in your phone/mobile device and each ...
29 March 2011 /payments
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
2010 was a good growth year for e-invoicing using the Finvoice standard in Finland. 71% growth – now 14,4m (good bank statistics available). This would on EU-level equal 1 billion invoices. 1,1 million e-invoice requests-to-receive) were sent – EU equivalent would be 71m. Other formats (TEAPPS and Edifact ) exceed 100m in a conservative estimate. ...
28 March 2011 /payments
Ray Kurzweil eminently presents his views in this video. Singularity it will be – maybe not dramatically – like the Computer with its superior artificial intelligence having become so good at improving itself and its friends (with exponential speed) that It one day will stand up and say: “Thank you humans for having created me. I will take over fr...
26 March 2011 /payments
Brett King CEO & Founder at Moven
There's a much quoted line in the UK banking market that you are more likely to get divorced than change current accounts. This comes from the statistic that around 75% of customers have never closed a current account, but that approximately 45% of marriages end in divorce. But this is misleading. The fact is that banks don't record churn or swit...
25 March 2011 /retail
Barrie Arnold of Striata, document service provider, posted an intriguing article their blog on how NOT to persuade your customer into e-billing. He wrote in his post that when he wanted to enrol at Verizon's online billing portal, he decided to go through Verizon’s Terms & Conditions for a change. He was stunned to found out the attitude o
25 March 2011
Danske Bank just made it easier to spend money and pay your bill. Their customers can now pay bills with just a photo of their bill and a tap on their iPhone screen. Making online payments a lot easier. Even easier than NFC chips (as these chips won't be attached to paper bills). This enticing app from Danske Bank's is now available for iPhone, i...
23 March 2011
Sriram Natarajan Risk Dog at Credit Risk Fraud Cards Professional
I do salute the stoic resilence of the Japanese people in the face of disaster. But I think the award for the most responsive and 'quick to market' mob goes to the internet scamsters! Within an hour of the news of the disaster in Japan, invitations to make donations for tsunami relief came into my inbox. In fact, so creative and impressive are thes...
23 March 2011 /security /regulation
Some confusion and negativism has been seen around the splendid progress in e-invoicing standardization. This text by Stig Korsgaard is very useful: “The following sets out the background and also the reasons why the ISO20022 Financial Invoice message standard under the ISO20022 standard was developed; what characteristic the final message standar
21 March 2011 /payments
Now that the economy is on the mend, banks may take their foot off the accelerator with regard to cost cuts. But while doing so, they must guard against letting inefficiencies creep into their operations. I am clear that efficiency and cost cutting are two different things, and we must hang on to the former even if we let go of the latter. First ...
21 March 2011 /sibos /retail
There's rumours flying around about Apple possibly pulling out of their previous NFC (Near-Field Communications) launch commitment for the iPhone 5. Of course, Apple has neither substantiated or denied these rumours. However, I can already hear a collective sigh of relief from many of the card product teams globally who now think they have another...
14 March 2011 /payments
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