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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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Retired Member
It isn't hard to see why customers prefer to do their banking and bill-paying using a PC, rather than a mobile. Well it is hard to see, and that's the problem. Those tiny little mobile screens aren't in the race for the bigscreen financial view. Who would want to make a mistake or stress out about all those numbers? Why bother? The perception that ...
24 October 2008 /payments
A recent article in the New York Times has provoked some heated discussion as to the level of culpability banks and credit reference agencies share for the credit crash after it was revealed that they mined and marketed data and targeted sub-prime borrowers. Billions of mail solicitations for mortgages and refinancing, personal loans and credit ca...
23 October 2008 /retail
I'm just wondering what will happen to my bank statement when contactless takes off - assuming I use it. When I think about the large number of cash payments (30p here, 60-odd p there, a couple of quid on something else) that could be switched on to a contactless debit card, the paper bank statement I get each month could be impressive in size. I...
21 October 2008 /retail
Stanley Epstein Associate at Citadel Advantage Group
Executive compensation is in the headlines again. And guess where? Nowhere else but than about executives at the failed Lehman Brothers. I see that the failed investment bank's CEO, Richard Fuld, has been giving evidence to U.S. congressional investigators on executive pay at the firm. And the amounts that are being bandied about are (as usual) sh...
10 October 2008
In 1927, Heisenberg putforth uncertainty principle to the world of quantum physics. It stated that, more precisely the position is determined, less precisely momentum could be determined. The uncertainty principle was in the context of subatomic particles. Mathematically, the principle states that the product of error (Root Mean Square in dev...
05 October 2008 /regulation /retail
Chris Barry Managing Director at V2 Innovations
What processes and decisions lead a company to create an offshoot of their main brand? I get the direct bank concept and the attraction; however it appears that the common theme is to basically make the direct bank a separate entity entirely with the hopes that cross sell with the main brand will eventually occur. How successful are these separat...
02 October 2008 /retail
Wouldn't it be better for the public's perception if a few hundred million pounds was spent eliminating most fraud, rather than spend vast sums without any effect? I think it's about time to get real. I coined More's Law (=more fraud) earlier in the year and it's running stronger than Moore's law of computing power. Whatever the industry is doing ...
01 October 2008
Usage of credit cards are mostly seen at department stores, more over card campaings and loyalty programs surround consumers to supersede cash payments and the competition between merchants and credit card companies encourages consumers to use credit cards more. In this situation what will be the advantages of contactless cards. Speed? No, the ave...
01 October 2008 /retail
The revised securities valuation rules are now officially a joke. US executives can now value according to 'their own models and judgement'. So what happened to mark-to-market if the market is no longer liquid, rather than recognise that the assets may be worthless the US regulators are saying 'feel free to make it up as you go'. This may be well ...
I think that the biggest threat banks face is lack of trust and ethics. Payments are based on trust. Consumers will be looking hard for alternatives. There will be plenty. Payments is only part of it. Consumer credit is next. There's more...
30 September 2008 /payments /retail
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