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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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A scientist was conducting an experiment with a fly. He pulled off one of its legs and set it down to see if it could fly. Conclusion: a fly without one leg can still fly. He pared off a second leg and set it down, saying "Fly!" Conclusion: a fly without two legs can still fly. He removed all the legs and set the fly on the palm of his h...
14 February 2010 /payments /regulation
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
Have banks given up trying to be good citizens? Sometimes you get that feeling - and also understanding that the avalanche of generalizing populistic condemning can lead to a give-up feeling even in the blameless banks. Of course it is difficult for the man on the street to understand why the market practice in the financial industry is so bonus-fo...
13 February 2010 /payments
Purchasing an airline ticket with Rs. 30 in the wallet at 2 am in the midst of a trekking expedition, considered nigh impossible till a few years back is now a distinct reality made possible by mobile phones. Is cash on the brink of extinction, well not yet! With the explosion in mobile telephony, it was often considered that mobile payments wou
12 February 2010 /payments
Uri Rivner CEO and Co-Founder at Refine Intelligence
Hey, that’s a first. A bank sues a customer over losing money to fraud. It used to be the other way around. Online banking fraud got to executive level attention when in 2005 Bank of America was sued by a customer who got infected with a Trojan and lost $90,000. This was a commercial account, but it had huge ramifications on consumer security. The...
11 February 2010 /security
When something happens for the first time - it's avantgarde. If you see it twice - it's original. On the third time - it's plagiarism. On the fourth - it's pastiche. But when it happens for the fifth time - it's a genre... (Anonymous) In the never ending discussion on innovation vs. execution (see Sara Lacy's great post here) I tend to be an avid...
10 February 2010 /payments /regulation
Butch Cassidy: You know, when I was a kid, I always thought I'd grow up to be a hero. Sundance Kid: Well, it's too late now. Butch Cassidy: What'd you say that for? You didn't have to say something like that. When I grew up, one of my favorite Hollywood themes was bank robberies. From Bonnie and Clyde to Butch Cassidy and the Sundance Kid, crime...
07 February 2010 /security
Innovations always take time. Also in the case of e-invoicing. A few observations: - e-banking took time - and typically some actors lost faith (did not jump on the bandwagon or went passive) halfway down to the ice-hockey stick effect) - ice-hockey stick effects are next to omni-present in innovations - and now there has been a long break in real ...
07 February 2010 /payments
By 2014, mobile and Internet technology will help over 3 billion of the world's adults to electronically transact. Emerging economies will see increase in mobile and Internet adoption through 2014. Worldwide mobile penetration rate will get to 90%. - "Gartner's Top Predictions for IT Organizations and Users, 2010 and Beyond: A New Balance&quo...
06 February 2010 /payments
Banking has a long history of producing innovative technology; from the Big Bang of the 1980s, through ATMs and debit cards, to this century’s online banking. Technology has repeatedly changed the way banking happens. Today, this combination of a strategic and innovative approach is vital if banks are going to transform themselves. As Gartner sugge...
03 February 2010
Paul Love VP Business Development at Konsentus
In the last week or so we have seen announcements from PKO Bank Polski and Intesa Sanpaolo about their plans to roll out contactless to their customers, with PKO Polski reporting that 6 million cards will be replaced in the project. However, there do seem to be mixed views in the market about the short to medium term growth of contactless. While so...
28 January 2010 /payments
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