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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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Pat Carroll Founder/Executive Chairman at ValidSoft
2011 presented some fascinating security breaches that could have been prevented. Here are my top three trends, and how to avoid them in 2012! Online identity and social media sites The successful launch of Google+, and its privacy feature which allows users to group certain contacts into different “circles”, highlighted not only that there was...
21 December 2011 /security
In my last blog post I wrote about the problems banks will have with fraud detection when the three day payment process window shortens dramatically from January 2012. Because existing risk-engine strategies do not have the benefit of knowing the real-time status of the card holder, banks struggle to determine which transactions are fraudulent and ...
19 December 2011 /security /payments
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
We have on many occasions stressed the need for the public sector to more aggressively - save their own operating costs, - help enterprises to save cost, - drive enterprises across digitalization thresholds - cut CO2 - make the single market real - collect VAT and other taxes due - further global standardization Migration to e-invoicing fur...
15 December 2011 /payments
As of 1st January 2012, the three-day wait for fund transfers will be over. Banks must ensure that for all electronic payments (e.g. online banking transfers), the money reaches the payee’s account in a much more timely manner. This is likely to cause problems for banks and may well identify weaknesses in their approach to fraud management in terms...
15 December 2011 /security /payments
1. More competitive enterprises. How? Drilling down selectively: 1.1. Better products, selling, procurement and service processes – mostly (but not only) a question of digitalization 1.1.1. Accepting e-invoices from suppliers save their and own costs and 300g CO2 every time – makes for a better customer 1.1.2. Sending e-invoices (i
12 December 2011 /payments
From time to time it is necessary to look at the big picture. What do we need for a more competitive Europe? Innovative and determined actions in many areas – like: 1. More competitive enterprises – innovative and productive. 85% of growth comes from product and service innovation – so this must have the highest attention. 2. More competitive publi...
Brett King CEO & Founder at Moven
We're experiencing a massive shift in consumer behavior right now with the explosion of Facebook, Twitter, YouTube, and other community collaboration and social media platforms. A world where Facebook has 800 million inhabitants and a President who is a college dropout (albeit Harvard). We're seeing the global domination of mobile across the entir...
07 December 2011 /security
Retired Member
Over the past several months, I have had several discussions with clients, both in Spain and in the UK, who are interested in implementing a simple, straight-forward P2P service which would allow two persons to quickly and easily exchange money via mobile phone. Many interesting user cases have been discussed: splitting the cost of a meal between ...
07 December 2011 /payments
This is the natural next step after the VAT directive simplyfying life for SMEs. now banks should move in to provide the reporting sidestream in their e-invoicing services and in parallel develope the splitpayment model - automating the payments. 60 million workdays can be saved in enterprises - and more tax collected cost-efficiently. http://ec...
06 December 2011 /payments
Key to any financial institution is the identification and management of risk. IT compliance certainly fits inside this category, where the implementation of controls to meet compliance also has an awful lot to do with common sense and best security practice. Financial institutions need to keep information confidential and protect the assets of...
01 December 2011 /security
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