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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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Stanley Epstein Associate at Citadel Advantage Group
I have been following recent press reports with a growing sense of unease. What I am reading is that some of the big banks, including some that were only bailed out by their respective governments in both the US and the UK less than a year ago, are back at the casino tables. They are now shopping around for "talent" and they are willing ...
17 July 2009
Retired Member
I read the recent research on why online shoppers abandon their shopping carts at checkout (payment). While a shopper's economic circumstances play a substantial part, the research supports the view I have that more sales will be completed if the buying/paying process is much simpler, faster and the process does not risk the customer's identity or...
14 July 2009 /payments
I was reviewing my investments this weekend, like you do. Not that there’s much to review, especially after having been Gordoned over the last 12-18 months. Anyway, I decided that one of my ISAs wasn’t performing very well, so, after having a good ferret around Trustnet, I settled on a replacement to switch to. I chose one of Fidelity’s funds. ...
13 July 2009
I generally find the subject of banking, risk management, payments and so on to be pretty serious stuff. After all I have spent my entire career dealing with the various aspects of all of this. I must admit however that there is always room for a lighter side to everything. But so far I always seem to have missed these more amusing moments. So my...
12 July 2009 /payments /retail
I note there is a movement afoot to revert to plain language and traditional type mortgages in these changes we see sweeping the financial industry. I'm all for plain language. Keep it simple. Anything else is probably hiding a trap for the unwary, or providing the opportunity for a 'consultant' to gloss over those little important tricky bits. 52...
06 July 2009 /retail
It never ceases to amaze me that in the world of banking two different worlds can seemingly co-exist side by side, each oblivious of the other. There are many examples of this, such as "sound risk management" versus "business imperatives". This particular issue lies, in my view, at the heart of the current financial crisis. Ho...
03 July 2009 /payments
I've seen plenty about Web 2.0 and people wondering how do banks get into social networking. From what I can see most of you have it back to front. It's not about using the new social media communications channels as just another means of bleating out your unwanted messages, or or to have you most passive and vetted staff chatting with customers. I...
29 June 2009 /payments /retail
Bo Harald Chairman/Founding member, board member at Transmeri, Demos, Real Time Economy Program,MyData
Many enterprises have seen that focusing only on the core may be detrimental as there are few examples that this has created innovation based growth. This does not mean that routine tasks, that can be outsourced, should not increasingly be. Outsourcing has been an early and is in the context of the networked economy an even more natural step. Once ...
28 June 2009 /payments
" The role of the innovator is to meet customers on their terms as human beings.The goal of the innovator is to empower your customers to realize the change they want to see in the world." Paco Underhill I like the statement - especially "on terms as human beings" - which I interpret as holistic but simple answers to practises i...
I have noticed a few things lately. Corporations have an obsession with information. That's essential you might say. I'd agree that information is essential, but exactly what? It is important to make the right information the target of your obsession. This is where the problem begins - focusing on the wrong information and too much information. I o...
26 June 2009 /payments /retail
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