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A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.
As the owner, you will also give up ownership if you leave this group.
Jp Nicols Managing Director at FinTech Forge
Banks don't even show up on Booz & Co.'s Global Innovation 1000 spending report. They are lumped in to the "other" category of all industries except the top nine. All of the other industries combined only account for 2% of the $603 billion spent on research and development in 2011. Average R&D intensity, that is R&D spending...
04 February 2013 /payments
Martin Bailey
Reports on customer loyalty may differ on the exact number of people who are changing banks, but they all agree that customers are getting more promiscuous. The bad news is that I don't think we've seen anything yet. Mobile phone vendors eye how often customers change their banks with envy. The race to acquire new customers is on. In the UK, Maks ...
30 January 2013 /sibos /retail
Retired Member
Today I saw the most effective piece of advertising ever on a cash machine. I rolled up to a Tesco ATM – a nice new NCR device with a video display that normally has a few rolling ads for the supermarket as you wrestle your debit card out of your pocket and into the slot. I was immediately confronted by a rather attractive girl’s eyes staring str...
25 January 2013 /payments
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
TeliaSonera (the leading Nordic telco) announced this week in Finland that they will increase the charge for sending paper invoices to corporate customers from 5 to 10€. Consumers are charged 1,90. This clear policy is for sure to be applauded – good for all parties (and big time for society at large) – for the following reasons: 1. The cost savi
If I was a Financial Director of a medium to large sized business there should be some alarm bells going off right now concerning moving to mobile devices. Especially if you have invested a huge sum of money on SAP, looking beyond FI/CO modules, any mobile initiative by the company could make large parts of the SAP system redundant for hours on en...
21 January 2013 /security /regulation
In a recent interview, Larry Page shared his view on the secret of Google's success - make your product TEN TIMES better than your rival's. Last week we sent limited information on one of our forthcoming products to some industry analysts and told them we priced it at "below $50", whilst the nearest (big) competitor's price is "abov...
18 January 2013 /payments
The Payments Council announcement that they will launch their industry-wide mobile payments service is the springboard for mass adoption of mobile payments in the UK. I have to admit a professional interest here – at VocaLink we delivered the database at the heart of the service in December last year, and we operate the underlying payments system...
17 January 2013 /payments
STRICTLY CONFIDENTIAL We share secrets with other people daily, from trivial "I've just heard that..." gossips to stuff like "My best friend's girlfriend is pregnant. By me." (LEGAL DISCLAIMER: [Insert a blob about "for illustration purposes only" and "forward-looking statement" here] - my friends are either...
16 January 2013 /security
DN: Thanks for agreeing to the interview Neil. I know our readers will be very interested to hear your view on how banks can deliver more value to their customers through customer centric initiatives while increasing profitability. Let's start with relationship pricing. NS: Relationship pricing is not a new concept in general – to a varying degr...
15 January 2013 /payments /retail
Finextra ran an article today about the UK banking sector "gearing up for the introduction of an industry-wide mobile payments". Which industry? There is no "payment" industry as such. Are we talking about banks? Or mobile operators? Or card schemes? The article stated that "the new service will enable secure payments to ...
15 January 2013 /payments
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