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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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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
Retired Member
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
“The current payment networks available to the financial institutions around the world are no longer fit for purpose.” I think that this is a statement that has been generally agreed by all those involved but let’s go through them just to be clear: As discussed in a previous blog, the card networks are expensive to join, expensive to transact on,...
23 June 2017 /security /payments
Enrico Camerinelli Supply Chain Blockchain Personal Coach at Aite Group
As soon as a bank places the corporate customer at the center of its delivery strategy, that bank has to follow the peculiar business dynamics that influence and shape the corporate client’s business decisions. Almost any business decision has an impact on the supply chain, and in a globalized world, supply chain collaboration is one of the most h...
23 June 2017
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