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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
Teenage children of our friends taught me the most typical response they often give to their parents - stretched out index fingers and thumbs forming "W". "Whatever..." (If you then flip hands down, you get even more emphatic message - "Whatever, Mom!..") That's how the payment industry is approaching fraud and securit...
23 July 2013 /payments
Secure Electrans are on a mission to combat e-comm fraud. The concept is simple - give consumers a free PIN pad for home use, so that every e-comm transaction can be done with the same level of security as in a physical store, and participating merchants can benefit from "a dramatically reduced fee." The difference between "cardhol...
18 July 2013 /security
The rumours about iPhone and NFC are being circulated again. That caused a new wave of excitement within the NFC community where NFC-enabled iPhone is seen as the white knight. Yet, if (IF!) Apple introduces NFC on iPhone that won't change much, if anything at all. Here's why. The largest and the most compelling use case for NFC on a mobile phone ...
17 July 2013 /payments
Brett King CEO & Founder at Moven
This week we're celebrating 5 years of the Apple App store (see Wired's commentary.) The realization that in 5 years mobile and apps have had such a huge impact on banking, can not be understated. Of course, there were many in the financial services space that were massively skeptical of the iPhone and Apps when they first launched in 2007. My fav...
15 July 2013
Pat Carroll Founder/Executive Chairman at ValidSoft
I was interested to read the article ‘Brits relaxed about banks mining data to fight fraud’. It provides an interesting perspective on the growing debate regarding the need for strong data privacy as well as strong transaction security, particularly within the finance sector, and especially as the means by which we conduct our banking and transac...
10 July 2013 /security /payments
Anti-money laundering (AML) - as well as KYC - is something which every company serious about payments has to deal with. AML requirements are pushed by the industry regulators (who are not always in touch with reality...) and are seen by the industry as the (un)neccessary evil - none of those measures prevent multi-billion (!) money laundering sc...
10 July 2013 /payments
Many companies, not just within the financial sector, have been looking recently to sell off anonymised data about its customers. Putting aside consumer concerns over privacy, are those organizations missing the real value of that information to their own business? Much of the data financial organizations hold today that is the most valuable in te...
04 July 2013 /retail
Two years ago, Arriva won some awards for their m-ticket solution. The concept was dead simple: a mobile app that displayed "dynamic" barcode image. Masabi offered a similar concept for the railway ticketing, but as barcode infrastructure did not spread much, being superseded by contactless smart ticketing, Masabi went to the US in sear...
03 July 2013 /payments
It was hard for anyone who followed mobile payments to miss the headlines about Clinkle, a Silicon Valley startup headed by the CEO who raised more millions that his age. Getting $25m in SEED money from such top names as Accel, Andreessen Horowitz, Intel, Intuit and Peter Thiel warrants attention, so let's peak under the hood of that (not so) myst...
01 July 2013 /payments
My mobile phone rang this morning. By the time I reached it, the caller (with blocked caller ID) hang up. A minute later my (ex-directory!) home number rang. I picked up the phone. The person on the other end of the line told me he was from Barclaycard's fraud investigation department and wanted to verify some transactions (Barclaycard does indeed ...
28 June 2013 /security
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