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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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Americans will carry about $1 trillion in credit card debt by the end of Christmas. Congress has just passed The Credit Cardholders’ Bill of Rights Act of 2008, known as H.R. 5244. Some of the reforms: - give account holders 45 days notice of any increases in interest rates. - Monthly bills mailed at least 25 days before the due date, up from ...
24 September 2008 /retail
Did you know that about 50% of online shopping carts are abandoned at checkout?* Research has shown 41% of online shoppers think that the check-out process is too long.** Even those shoppers who are willing to spend the time and take the risks providing personal financial information to every internet shopping site would probably like payment to ...
23 September 2008 /payments
The marketing spin by the card payment industry espousing (misrepresenting?) the virtues of yet another security initiative to add to the great list - here remember another password for the internet (or better yet, use one you already use somewhere else...) use this special secret code we printed on the back of your card (which won't be able to...
23 September 2008
Amit Sharma CEO & Prepaid Consultant at Emotion Associates
I agree with Marite Ferrero's comments but I also think this is a tough one simply because fraudsters - being fraudsters - will find a way anyway. However, that is not to say nothing should be done. A lot of prepaid card companies already have a block/unblock option which allows cardholders to block/unblock their card using a secure code/PIN and ...
12 September 2008 /security
One of the more intriguing developments this year to hit the front line is dynamic language conversion. Welcome. Wilkommen. Bienvenue. That is just the beginning, try doing it for dozens of langauges including chinese, japanese, korean, arabic, thai. No small task. Imagine your local global mega bank sets up a discussion forum for small businesses ...
09 September 2008 /retail
Health Warning: Bearish view follows. Big reshuffle lately in the global power game of market caps. The persistent record volumes on the LSE and others are just the beginning but market value is headed south. For global banks and tech stocks in particular it is really remarkable (see table). I hope investors can hold on to their smile for the dura...
05 September 2008 /wholesale
Stanley Epstein Associate at Citadel Advantage Group
If you really want to boost the EU's economic fortunes, improve its competitiveness and facilitate its progressive adaptation to the digital age then you need less regulation, not more. And the best regulation is often no regulation at all. Innovation needs space to breathe and to flourish, and to do that it should be as unfettered as possible. T...
04 September 2008 /payments
Customers may well ask what chance they have if even the bosses of the banks are victims of fraud. Marcus Agius and Andy Hornby can't simply ignore the problem can they? What do shareholders really think? There have been rumblings from downunder about focusing on social networking sites as the root of the problem. Cobblers. A lot of social networki...
21 August 2008 /payments /retail
It's nice to see HSBC getting into online networking, and with a good bankable idea. It could pay off in providing the bank with a modern image because let's face it, the average start-up will be making significant use of the web. A little look at the site reveals a bit of a cluttered screen designed for 800x600. Virtually all of us run at least 1...
21 August 2008
I recently looked at some superannuation sites. I am going to mention my thoughts on a few. I'll start with Tower. Will that be a Super Regular Premium Plan, or will you have the Regular Premium Plan or the Single Premium Plan, superannuation plan and would you like Tower Performance Moderate to High, or Tower Capital Guaranteed Low to Moderate Ris...
19 August 2008 /retail
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