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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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Retired Member
I note there is a movement afoot to revert to plain language and traditional type mortgages in these changes we see sweeping the financial industry. I'm all for plain language. Keep it simple. Anything else is probably hiding a trap for the unwary, or providing the opportunity for a 'consultant' to gloss over those little important tricky bits. 52...
06 July 2009 /retail
Stanley Epstein Associate at Citadel Advantage Group
It never ceases to amaze me that in the world of banking two different worlds can seemingly co-exist side by side, each oblivious of the other. There are many examples of this, such as "sound risk management" versus "business imperatives". This particular issue lies, in my view, at the heart of the current financial crisis. Ho...
03 July 2009 /payments
I've seen plenty about Web 2.0 and people wondering how do banks get into social networking. From what I can see most of you have it back to front. It's not about using the new social media communications channels as just another means of bleating out your unwanted messages, or or to have you most passive and vetted staff chatting with customers. I...
29 June 2009 /payments /retail
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
Many enterprises have seen that focusing only on the core may be detrimental as there are few examples that this has created innovation based growth. This does not mean that routine tasks, that can be outsourced, should not increasingly be. Outsourcing has been an early and is in the context of the networked economy an even more natural step. Once ...
28 June 2009 /payments
" The role of the innovator is to meet customers on their terms as human beings.The goal of the innovator is to empower your customers to realize the change they want to see in the world." Paco Underhill I like the statement - especially "on terms as human beings" - which I interpret as holistic but simple answers to practises i...
I have noticed a few things lately. Corporations have an obsession with information. That's essential you might say. I'd agree that information is essential, but exactly what? It is important to make the right information the target of your obsession. This is where the problem begins - focusing on the wrong information and too much information. I o...
26 June 2009 /payments /retail
One of the reasons I haven't been too excited by the latest gadgets to 'assist' the customers at our dinosaur banks is because quite frankly - the whole idea is just ridiculous and obsolete. From where I'm looking anyway. While most of you probably can't imagine a world without PINS, passwords, user-names, pockets full of gadgets and routines to re...
25 June 2009 /retail
Despite the apparent batten down the hatches and ride out the storm attitude of many businesses during this downturn, our recent research shows that the business side of large retail banks across Europe is in fact demanding more innovation from its IT counterparts. Both sides seem to recognise that they don’t really understand what the other does,...
23 June 2009
If you are of a certain age, then you remember the original Star Trek series (let's all forget about that new one that opened last month). Captain Kirk, Mr. Spock, Dr. McCoy and the rest of the intergalactic crew dazzled us with their fancy flying machine i.e. the USS Enterprise, phasers, communicators and of course the transporter; "Beam me...
22 June 2009 /wholesale
Big call. I have seen the light or more accurately 'retail banking' at the speed of light. Natural, easy, safe, private - the way the customer wants it. So fast it's invisible - you don't even see an internet bank. It isn't in a new banking product, although one of the many things it does do - is replace internet and retail banking, cards, password...
19 June 2009 /payments /retail
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