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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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2015 has been the breakthrough year for consumer mobile payments at physical stores. Beyond the current hype, there is still plenty of debate about whether mobile proximity payment will be successful moving forward. This new consumer value has roots in both the payments and mobile ecosystems and yet is something wholly new – an idea that both ecos...
10 August 2015
A quick review of who has launched widely commercially available open-loop proximity payment (NFC) solutions for the UK market. Firstly there is Everything Everywhere (EE) – they launched Cash on Tap in 2013 which is a slightly evolved version of the initial Orange QuickTap implementation. To get this to work you need: an Android EE Monthly Contra...
Goldman Sachs recently forecasts that $4.7 trillion traditional financial services revenue could be at risk from disruption. As new entrants, supported by a $12 billion investment in Fintech, disrupt existing business models, using new technology fuelled strategies, I thought we could reflect on what counter strategies banks might adopt that could...
04 August 2015 /retail
As usual, Samsung is too late to the (mobile payments) party. Not because of Apple, but because of Google - read this fantastic piece by Tom Noyes whom I greatly respect (although Will, CEO of LoopPay that was bought out by Samsung, has some valid points too...) Samsung is not a pushover, and will continue muscling in, because they still don't und...
03 August 2015 /payments
“BIG DATA” is one of the most famous Digitalization concepts in recent years, not only in financial landscape but also almost in all industries. Everyone talks about it and mentions how important it is, but except for a few, many do not know what to do with it. As the 90% of world’s data generated over the last two years and has been getting bigg...
21 July 2015 /retail
Charmaine Oak Co-Founder/Director at Shift Thought Ltd
I had an opportunity to catch up with Nitish Asthana of First Data who provided a fascinating account of how the fast moving payments scene in India is changing the very fabric of daily life. As 900 million mobile phones become potential new payment instruments for the 1.2 billion population, this has a potential to transform not just consumer paym...
21 July 2015 /payments
Alex Noble Account Director at McAfee
To say there is “hype” around FinTech doesn’t do justice to the some of the rather breathless reports that have recently been appearing. Some of this is a genuine feeling (bothin media and industry) that FinTech is where the internet was in the mid-90s, and no-one wants to miss that level of potential. Part of it, at least in my view, is that any s...
20 July 2015
When you tap in with Apple Pay on the TfL's network in London (e.g. enter the Tube), the transaction goes to the issuer for authorization. In the case of Amex, they - unlike Visa - charge you £0.10 at the point. If you decide not to travel (e.g. due to service disruption/cancellation), that charge seem to remain... I don't recall seeing that charg...
20 July 2015 /payments
One could be more forgiving and attribute bad UX to "teething problems", but not when it comes to the world's largest company and expansion launch (rather than greenfield ops). Apple should have sorted all the issues I am raising here before launching in the US, let alone Europe - they have adequate resources and skills. Them not doing it...
17 July 2015 /payments
So, Apple Pay is finally here. Let me cut to the chase. The good Well done, Apple! Kudos for showing the way. Amazing antenna performance, thanks to AMS booster (that has now been dropped in favour of NXP). You can present the phone to the reader in a number of ways, and it still works. BTW, very few people know where exactly NFC antenna is on iPho...
16 July 2015 /payments
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