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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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Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
At the early stage of e-invoicing it was referred to as “dematerialization”. The benefits were seen as coming from not sending paper mail – but electronic mail. Now it has become very clear that the real benefits are in keeping the information in structural form (not de-electronizing it by printing or making it into a PDF-picture) and sending it as...
02 March 2010 /payments
Retired Member
"If there are any Mattel engineers in the audience, the astronaut Barby's space suit is not crash proof" (loose paraphrasing on Will Wright's keynote) Yep, the keynote was entertaining and Engage brought a lot of vendors to snowy New York's Javits center. The two day event, though a bit low on developers, had a few interesting sessions a...
23 February 2010 /payments /regulation
New report (will be translated to English soon) going deeper into the e-invoicing theme http://www.dbresearch.com/PROD/DBR_INTERNET_DE-PROD/PROD0000000000253980.pdf Deutsche Bank is certainly doing their part - but as the report notes - the network effect is needed - and that means all banks - just like payments.
21 February 2010 /payments
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
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
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