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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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In response to some questions on the Catalyst Code blog I thought I might make a few things clearer here, such why I see a real change coming faster than many may realise. The thrust of the comments was that it would take longer. The reasons proffered are in italics. These comments could probably be applied to most any new e-transaction system...
25 May 2008 /payments
A few minutes in the lab can sometimes change the world. Transactions are going to change. Settlement and interchange will too. I can see how high interchange fees are more likely to encourage competitors in a market dominated by well established brands, and that lower interchange fees could theoretically discourage new entrants considering the inf...
18 May 2008 /retail
I think the telly-teller is a great initiative to cope with unexpected in-branch demand, but if banks misuse it there could be repercussions. I don't want sensory overload from an honour guard of beseeching screens flanking the path to the human at the branch. I had to think about how I feel during the branch experience and how I feel afterward...
15 May 2008 /retail
Mars News 2015 Citi read first Due to a total failure of trust in financial instruments, HomoDuoCerebrus Inc, makers of military grade humanoid warrior robot 'Wally the Robot' has teamed up with the Bank of Mars to provide a valet buying service. Simply use your anonymous Bank of Mars card and make any purchase from any merchant anywhere and gi...
14 May 2008
When I first saw this announcement on finextra I wondered a moment about a previous blog where I mentioned a letter telling me I'd won an award of a million dollars. I'm sure a few mobile technology developers will be feeling the real thing soon because unlike the scam letter in my email, this public announcement heralds some confident and advance...
13 May 2008
I applaud BofA in their bold move into the bloggosphere. I also think that here should be an industry code of conduct for blogging with customers on financial sites, don't cringe - it'll be good for everyone. Let's start it here: Financial Services Customer Blogs Code of Conduct We will listen to/read issues raised by our customers.We have the r...
10 May 2008 /retail
Is there irony in this? Maybe it's only a nibble at the moment. There seem to be a lot of pre-paid products coming onto the market being promoted as a safer alternative to credit cards on the internet. In view of the fact that these are often marketed by credit card companies who might be seen as being to blame for the card security problem anywa...
05 May 2008 /payments
Australian financial institutions are considering a radical initiative that could see BPAY codes trump bank account numbers. Codenamed MAMBO (Me and My Bank Online), the top-secret BPAY proposal could deliver the bank account portability that Australian Treasurer Wayne Swan so desperately wants Australian consumers to enjoy. Instead of a bank accou...
The obvious solution would be to look for a substitute, rather than try and do the same old card thing. I think everyone is pretty convinced that we'd like to lose the cards, especially if it means losing the fraud, and it can. I don't know about you but I think the future is with mobiles and the card is in the past and I don't even see how anyone ...
29 April 2008 /security
Congratulations must go to Gary Wright who chaired the corporate actions automation conference in London week before last week. The conference did two things that are pretty rare these days. It actually did have dialogue between the panelists and the audience, due in no small part to Gary's forthright style of chairmanship. It also did an excel...
28 April 2008 /wholesale
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