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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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Stacey Small Business Development at The Glue
At the latest Apple Worldwide Developer Conference (WWDC) in San Jose, June 17 2017, Apple confirmed the rumours that they will create their own payments service which will be linked with Apple’s mobile wallet, Apple Pay. This will allow users to send money directly to their contacts via iMessage. Currently Apple Pay only allows users to load thei...
28 July 2017 /retail
Retired Member
In 2014, the “age of the customer” was born as a phrase and remained largely abstract. But fast forward just a few years and in 2017, it is the holy grail for businesses – especially banks. We have now welcomed a new digital age of customers who do not want to be told they must bank in a certain way or through certain channels. Customers want to be...
26 July 2017 /retail
Milos Dunjic AVP, Payments Innovation Technology Solutions at TD Bank Group
The 3D Secure 1.0 framework was originally introduced to address lack of consumer authentication in legacy online environments, mainly in cases where online merchant and consumer were not engaged in face to face transaction, i.e. when there was clear lack of confidence that consumer who is paying, was the legitimate owner of the payment card used ...
23 July 2017 /payments
Chris Brown CTO at Trusek
Credit unions have been a hot topic for me this week. I have had two completely independent conversations with people about them. On Tuesday night I met a chap from the US at an investor summit who mentioned he felt the US credit unions, although more numerous than the UK, were technologically challenged. The following day I met with a group, from...
21 July 2017 /retail
The financial services industry is going through an almost unprecedented period of change. Whether political, regulatory, societal and technological, a range of forces have been at work to shift the landscape for good. Politically, it’s fair to say that the world has been dealt its fair share of turbulence in recent months, with Brexit, as well as ...
19 July 2017 /regulation /retail
Well, the short answer is some are making deep organizational changes with their sales culture, and others are only getting started. Recently, I met with a number of banking customers for pre- and post-sale consulting on global CRM and Sales Automation projects. In addition, earlier this month, I attended PegaWorld 2017, our premier annual confer...
10 July 2017 /retail
There has been much talk recently about how card payments will replace cash altogether in the future. I have talked previously about my opinion that the card schemes (Visa, MasterCard, Amex etc) are past their sell-by date and we need an alternative. I have also discussed my vision of a future with a different type of payment network support
07 July 2017 /payments
There was time when people used cheques, and used them a lot. Cheques once accounted for 86 percent of all non-cash payments, and were the hot new payment technology. After second World War, the Americans adopted cheque writing like never before. In 1940s and 1950s, the overall number of ‘chequing accounts’ (frequently spelled as a 'checking accou...
01 July 2017 /retail
As mentioned in my previous blog there is much that's wrong with the existing payment networks, but it is always easy to criticise what others have done and rather more difficult to provide a solution to a problem. The network I envisage is modelled on the internet itself, with no central hub. Let's have a look at some defining characteristics o...
30 June 2017 /security /payments
Nascent adoption by financial institutions in Europe of virtual account management (VAM) technology reflects a fundamental transformation in the current model of global cash management. Whereas the traditional cash management model involves sophisticated cross-border multi-currency pooling structures and sweeping techniques to physically consolida...
29 June 2017 /payments
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