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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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I see the Absa move as being a smart one, except for the methodology, but we'll see how they go. I have been suggesting it for a while and it's nice to see I have been beaten to the punch by Absa. I can only assume they are one step away from ditching cards altogether. Good work.
15 August 2008 /retail
Stanley Epstein Associate at Citadel Advantage Group
I have been watching unfolding events in the banking world with a sense of incredulity and rising trepidation. It's like watching a train crash in slow motion. It just seems like it is one debacle after another. First we had the sub-prime meltdown which hit us last summer. All that followed by the SocGen saga, which only served to stress that both ...
13 August 2008 /regulation
I look back over 100 blogs I've written and have a look at the major issues discussed. Faster transactions, security, identity and whether smart cards or mobiles or a mixture of both would be the best path for transactions. In the background the financial crisis of the century has loomed large with some and banks were beginning to explore mobile ba...
05 August 2008 /payments
Is this fitting in with the GSMA - Western Union alliance? The telco's will get into bed with anyone for a slice of those transactions. I wonder if we'll see some trust between telco's come out of this? Will the lure of fast transaction money lead to mobile roaming rather than mobile reaming? I remind readers that your telco does not trust it's o...
01 July 2008 /payments
I'd just like to let the waiters and waitresses of the world know that we have thought of them with our mobile solution for transactions. Hospitality staff are all very important to both commerce and personal business, and we'd like to show our appreciation. We have designed a payment system which allows for tips and gratuities and they can go stra...
18 June 2008 /payments
I digress and had to get back to my own blog and have posted a response to Jean-Philippe. We obviously look at things from different viewpoints, and you make a good point, yes, nothing is 'free', however the cost of mobile transactions have the potential to be significantly lower than present credit or debit card networks currently levied on mer...
17 June 2008 /payments /retail
I know I'm a promoter of mobile payments, but really I'm just a promoter of doing it easier and safer. I am not keen on fingerprint scanners, they are not easier or safer. Fingerprints are not really useful for primary ID. It simply takes too long to get a match on a print. The problem is that comparing pictures of fingerprints with pictures of p...
They aren't even really fraudsters in the old-fashioned sense of the word, more like FLAWDSTERS. Yet another flaw uncovered in the card based transaction system? Why am I not surprised? Here's a deal for you, I'll prevent it all (for all UK banks) and even the card present fraud for the token sum of £145 million and I'll indemnify all users of o...
12 June 2008 /payments
The recent moves by legislators on both sides of the Atlantic to rein in interchange fees is no surprise though the companies involved may continue to ignore the writing on the wall, those fees and margins will eventually be cut, one way or the other. Look out for some movement in the ranks of legislators on the other side of the Pacific next. A...
07 June 2008 /payments
Uri Rivner CEO and Co-Founder at Refine Intelligence
Web 2.0 and banking seems like an interesting mix. This article (https://www.finextra.com/fullstory.asp?id=18544) actually mentions several loosely coupled items related to this: Providing online banking services through widgets in web 2.0 sites such as Facebook, Myspace and others.Integrating web 2.0 functionalities such as wikis and blogs into ...
04 June 2008 /regulation
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