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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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Heated polar debates over Bitcoin are in full swing. Even the banking community, let alone non-fin companies, are divided in their opinion. With over 80 (!) competitors and wannabes, Bitcoin is not the only cryptocurrency out there. More schemes are in the making. Only a couple will survive long-term (and Bitcoin may not be one of the winners). ...
29 January 2014 /payments
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
With proper I mean structured e-invoicing - not e-mailing PDFs (as bad as paper mail - or even worse due to spam filters..). So why? Your customer 1. gains convenience - especially with simple mobile payment approval 2. saves cost in the region of 15-30€ per invoice as payment approval and payments can be automated 3. saves much more when accountin...
Brett King CEO & Founder at Moven
I was in India a few weeks ago speaking to the Reserve Bank and most of the primary Retail Banks about the impact of mobile and social media on the industry there. The new RBI Governor in India, Raghuram Rajan, has ruffled some feathers with his unconventional approach thus far, but he has his work cut out for him with a very traditional market, w...
28 January 2014 /regulation /retail
Pat Carroll Founder/Executive Chairman at ValidSoft
It’s good to see the Bank of Scotland focussing on the mobile customer experience. Clearly they see this as a significant competitive advantage, and promoting it as such, whilst also highlighting the security features of their approach. With mobile, streamlining the login process, enrolment and activation is key if banking apps and wallets are to ...
28 January 2014 /payments
2014 will also see Voice Biometrics becoming mainstream. Apple have paved the way for biometrics to be adopted in a mainstream manner with the introduction of fingerprint readers on the iPhone. Voice Biometrics is a tremendously powerful, intuitive technology that can be implemented in a low-friction and invisible manner and provide very strong se...
24 January 2014 /security
Jp Nicols Managing Director at FinTech Forge
Bankers have long sought a competitive advantage in a vast sea of largely undifferentiated competitors. For most players, and for most of the industry’s long history, the chief weapons in this war have been scale and localization. Either growing large enough to create economies of scale and/or scope, or trying to corner one or more local markets b...
22 January 2014
Zapp made some further progress by bringing onboard major banks. When it comes to e-commerce, Zapp could indeed represent a compelling value proposition if they do three things: (1) offer consumers the same protection as conventional credit cards; (2) provide e-merchants with liability shift in respect of chargebacks; and (3) extend Zapp to cred...
15 January 2014 /payments
When you are on a crowded bus, you don't know who is standing next to you and what that person is up to. There are a lot of weird and obsessed people out there... Now, imagine your own car - what would you feel if after a couple of hours on a motorway, driving at high speed, you turned around and saw a complete stranger in the backseat... That's e...
10 January 2014 /security
This itnews.com article sheds a different and interesting light on the methods now being deployed by the fraudsters. Basically these latest tactics are designed specifically to outwit the Risk Engines. Risk Engines work on the principle that if a transaction seems “normal” the risk engine will generally approve the transaction. Of course there
I should of course have added to the looking back at 2013 post - that the new direction for mobile payments also made a breakthrough. When it is realized that mobile payments should be payment receiver initiated in order to produce full value the speed in this direction will take up dramatically. How does this work and what does it mean? But first ...
10 January 2014 /payments
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