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Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

Automating away a 1 billion cost in Finland?

The ministry of Employment and the Economy has published an extensive study on cost of administrative burden. Some quotes (my emphasis): "The aim of the study was to chart statutory information obligations based on legislation regulating financial reporting, and to assess the related administrative costs and burden imposed on enterprises. Adm...

/payments

Uri Rivner

Uri Rivner CEO and Co-Founder at Refine Intelligence

Students in the Crosshairs

About a month ago I was invited by an English university to talk to computer science students about the state of cybercrime and online banking fraud. The title of the lecture was “Crash Course: How to Become a Successful Online Fraudster”. The lecture was open to the local community, and when I finished about a dozen students grouped around to ask ...

/security

Retired Member

Retired Member 

Dealing with International Fraud - a Few Basics

When we started looking for customers in the first payments startup I worked for, low hanging fruit were obvious. All you had to do to find them was look for a merchant's international shipping policy - or lack thereof - and continue from there. The value proposition we offered, where we would make final accept/decline decisions and insure them, w...

/payments /regulation

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

Leading telco in Finland showing the e-invoicing way

Transparent, honest and just pricing gives consumers a chance to act in their own interest. Lower costs for service providers will sooner rather than later lead to improved cost – benefit. To the extent that the rationalization benefits shareholders it is important to remember that the largest shareholders usually are public and private pension sch...

/payments

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

It is not dematerialization

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...

/payments

Retired Member

Retired Member 

New York under zero: some thoughts on the Engage! Expo

"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...

/payments /regulation

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

New high quality report from Deutsche Bank

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.

/payments

Retired Member

Retired Member 

Fraud detection and UE: why are Millennials slower?

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...

/payments /regulation

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

Have banks given up?

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...

/payments

Retired Member

Retired Member 

Mobile Payments Redefined - The Indian Flavour

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

/payments

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