50 Results from 2010
Brett King CEO & Founder at Moven
In 2010 we had a bunch of innovative ideas become mainstream and start to impact the banking arena (for a full coverage see my post in Huffington.) However, 2011 promises to be more disruptive because as the economy finally starts to warm up, we'll be seeing a lot of new private equity investment into start-ups in the finance arena. A new dot com ...
29 December 2010 /payments /retail Innovation in Financial Services
2010 was a bumper year for innovations in the retail banking and payments space. Below are some of the top innovations this year. Let me know how you rank these in respect to their ability to be real game changers for the banking arena. Which innovations do you think will survive on, and which will flame out? My big bet for 2011 is NFC (Near-Field
17 December 2010 /payments /retail Innovation in Financial Services
The Basel III accord’s stated purpose is: This consultative document presents the Basel Committee's proposals to strengthen global capital and liquidity regulations with the goal of promoting a more resilient banking sector. The objective of the Basel Committee's reform package is to improve the banking sector's ability to absorb shocks arising fr...
15 December 2010 /regulation Innovation in Financial Services
I met yesterday with the inimitable Vernon Hill, founder of Metro Bank, and with Metro's Chairman and co-founder, Anthony Thomson. It is interesting to hear Hill's view of why Metro is able to dominate in respect to the 'customer service' space in the UK branch market. Hill postulates that despite many banks rhetoric around being customer centered...
10 December 2010 /retail
The major news feeds of the world are buzzing with the arrest of Wikileaks founder Julian Assange in London today. Assange was arrested based on an extradition request from the Swedish government, issued last week. Swedish authorities had issued the warrant for Assange so they can talk to him about sex-crime allegations supposedly unrelated to Wi...
07 December 2010 /security /payments
The Beatles are arguably one of the most successful bands of all time, but their foray into the digital music space has long been frustrated. In their first week on the iTunes store, however, the Beatles amassed a staggering 2 million individual song downloads and over 450,000 in albums sales. Not bad for a band who stopped recording music 30 year...
26 November 2010 /retail Innovation in Financial Services
As of May this year, only 4% of US FDIC insured institutions in the United States had any sort of mobile play, a small subset of this group had iPhone apps, and an even smaller percentage had Android apps. We already know that mobile Internet based banking is the fastest growing interaction channel for banks today, so this level of commitment by t...
19 November 2010 /retail Innovation in Financial Services
During the global financial crisis, governments spent billions to bail out banks in an effort to keep liquidity in the banking sector, largely so that lending could continue at a time when businesses needed as much help as they could get. However, in a financial crisis when the economy is in recession, it is counter-intuitive for a bank to lend mo...
18 November 2010 /regulation /retail Finance 2.0
Eric Schmidt and the team at Google yesterday announced that they are going to beat Apple at the NFC game and will launch their new phone the Nexus S, code-named Gingerbread, within just 'weeks'. Check out some of the links: http://www.theage.com.au/digital-life/mobiles/google-to-turn-your-mobile-into-a-tap-and-pay-virtual-wallet-20101116-17v9l.htm...
16 November 2010 /retail Innovation in Financial Services
I've had a quick shot at a mock-up advertisement of how Apple might launch the next iPhone 5 based on an earlier concept mock-up of what people thought the iPhone 4 might look like. I hope you like it! If you want to see a larger version of the picture click here... If you are a retail banker, you should be afraid...very afraid :)
14 November 2010 /retail Innovation in Financial Services
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