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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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FBI's recent report states that between March 2010 and April 2011, the FBI identified twenty incidents in which the online banking credentials of small-to-medium sized U.S. businesses were compromised and used to initiate wire transfers to Chinese economic and trade companies. As of April 2011, the total attempted fraud amounts to approximately $2...
03 May 2011 /payments
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
http://www.youtube.com/watch?v=P6wNEVXe6ZQ
02 May 2011 /payments
I came across an enterprising man who worked as a driver and doubled up as the neighborhood milkman. In the initial months, he found himself collecting and carrying large amounts of money on a daily basis, which became quite unwieldy with his day job. To make matters worse, with outstanding dues, leakages in collections and a host of challenges po...
30 April 2011 /payments /retail
Electronic coupons appear to be all the rage at the moment, with the rush to the front seemingly being led by Groupon. Throwing themselves in to the fight now are Google (with Google Offers) and Facebook (with Facebook Deals) - so there might be an assumption that there is scope for considerable growth in this market. Do banks need to keep a wary
26 April 2011 /retail
Accelerating decline in use of cash clearly reflected here and in card transaction statistics in Finland (even without costs being visibly charged for ATM withdrawals..). Good news for all. On EU level the cost of cash usage was estimated to some 50bn€ some years ago - and the consumer pays 100% of it + some profit margins for the service prov...
24 April 2011 /payments
It took time to get it going - but this is looking good (statistics covers only Finvoice - similar growth in other local standards). In a couple of years time paper or e-mailed PDF invoices will be as rare as cheques (defacto not used since years). More interesting statistics here: http://www.fkl.fi/en/material/statistics/Statistics/Statistics_bank...
Excellent growth figures - on EU levels the e-id volume would be 1,5bn. All public sector id-transactions are presently done by banks. This is extremely cost efficient (economy of reuse) and naturally preferred by citizens - as the tool (one-time code) is so familiar (economy of repetition and secure (economy of trust). Difficult to understand why...
I would have thought the transaction growth would have petered out in Finland - when most customers have used it for years - and now there are 5,2m e-banking contracts (a population of 5,4m and some probably are prepared to pay for several) - but still a 40m - 11% growth. EU-equivalent of payments would be some 28bn.. More interesting statistics h...
So we have heard in the press that iPhones now record location information in a 'hidden' file. Not that Apple are tracking you, just that this information is logged. Lots of people record their location in addition to this automatic tracking - just think Facebook Places, FourSquare, Google Latitude, Gowalla etc - and I think location will become
21 April 2011 /retail
Brett King CEO & Founder at Moven
If you are thinking of a trip you have any number of options to get there. You can travel by car, by bus, by train, by ship or by air. Depending on the distance you might walk, or ride a bike. You can travel in luxury such as a private jet, the first class cabin of an Emirates A380, a stateroom on a cruise liner, or you can go ‘budget'. RyanAir, S...
20 April 2011 /retail
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