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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 seems everyone is getting 'into' mobile transactions, mostly without thinking. Paymate India have introduced SMS based payments:; "Once you choose to pay via PayMate at any of the accredited merchants, all you have to share is your mobile number" [with everyone you are paying.....great idea NOT!]. It might seem funky giving your pho...
07 April 2008 /payments /retail
More about 'Mobilisation and The Art of War in Transaction Space'. Whether online or in a branch - people DON'T WANT TO 'BANK' - it's just a necessary evil. The main reason that banks don't feature in the brand love game is because people don't like to bank. People like easy money. Easy to keep safe, ie. 'The burglar can find it under my mattress...
06 April 2008 /payments /retail
Things aren't getting any better. Metaphorically though: "A patient in pain, facing death, will pay more for the cure than they would have before they believed they had the disease" - Dr Procter. "What disease, what pain?" you ask. "It still cost them less than replacing the cards." He's still going to get sick again,...
04 April 2008 /payments
Andrew Fear Advisor / Consultant at Independent
(Core systems replacement – evaluating your options) Ownership is the thing. Whose systems are they after all? Putting the ownership of the core-banking systems back where it belongs, with the bankers, is just part of being attuned. Forward-thinking bankers know that only the right technology, the right core banking systems can drive the busine...
18 March 2008 /retail /wholesale
I can’t fault her for trying. I guess it seemed like a good idea and a bold step towards freedom from the bonds of 20th century banking. “She” is a member of my staff based in the USA; let’s call her Alice, ok so I changed the name to protect to innocent! After reading that the Harris Interactive study released last week and the subsequent fea...
17 March 2008 /payments /retail
With internet spreading its net across the markets, financial products are being invented and developed by companies – read as independent innovators. The selling points for all such innovators mostly revolve around three common spokes – Speed, Secure & Service. With multiplicity of products and innovators in the financial intermediary space, ...
12 February 2008 /payments /retail
The primary objective of any payment system is to enable the circulation of funds. Without a robust infrastructure enabling smooth flow of funds, none of the financial institutions can assume the role of a financial intermediary in the economy. Payment systems have encountered many challenges and are constantly adapting to the rapidly changing pay...
07 February 2008 /payments
We should all be saying Happy New Year! Well, actually we have already, especially to tax authorities around the world. Many of them have just received a New Year's present of cash from the financial services industry, funded by investors. Why? Well, as cross border investment steadily increases at over 16% a year, each time there's a dividend p...
07 January 2008 /regulation /wholesale
Is it me or does there seem to be a lack of convergence on the subject of security in internet banking these days? From a user perspective I have accounts with ING, Nationwide and Barclays to name but three. I also work with many banks in their back offices trying to make operations both more secure and more efficient (tough job to do both at on...
19 December 2007 /security /regulation
I see that financiers have noticed that there's been a 12.4% increase in de-listings of foreign companies on US exchanges. The explanation appears to be either "a pent up demand to leave the US" or "the increasing unattractiveness of the US capital markets". Not only are these symptoms not causes, I'm not sure they're really ...
05 December 2007 /security /regulation
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