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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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It is well known that financial criminals are adept at finding the weakest link in a bank’s, or the banking systems, defence to attack. They can often do this by avoiding the immediate defensive measures in applications and getting transactions into the banks payments systems, even on a trusted network such as Swift. Once on the network, criminals...
16 June 2016 /security /payments
Graham Seel Principal Consultant at BankTech Consulting
It struck me today that a brief history of booking and paying for taxis provides quite a nice illustration of what’s happened to payments over the past 20 years or so. Here’s my experience. Evolution 1980s: hailed or booked a taxi (from my home phone or a callbox), went where I wanted to go, kept an eye on the meter, and paid with cash. 1990s: same...
11 June 2016 /payments
At first blush, you might think the kind of Artificial Intelligence applications that are deployed in industrial contexts would have nothing to do with financial services. Whether we’re talking manufacturing, process control, utilities administration, or any other industrial setting, what could they possibly have in common with banking? The answer...
08 June 2016 /regulation
Are you sure you want to do this? Richa, my wife asked as I shared my idea to undertake an experiment in which I will stop using cash and instead use only digital forms of payment. Colleagues said going cashless in India is difficult and that I wouldn’t be able to manage more than a week. All this and the fundamental question “As a believer in digi...
05 June 2016 /payments
Do you ever have to read brochures that are nearly unreadable? Brochures that push the superlative functionality, the embroidered success story, the many advantages and sparse disadvantages, the reasoned argument with no marks of originality, distinguishing features and no story. Nobody wants to read them. So many are writing this kind of stuff th...
27 May 2016 /retail
Digital transformation of marketing channels has brought a change in consumer expectations. Going digital calls for revised culture and process of work. Industries across sectors are reaping the benefits of digitization. A digital transformation in the insurance industry refers to an outside-in approach in line with a customer-centric view of the b...
27 May 2016 /inclusion
The Internet of Things (IoT) is changing everything, particularly in the workplace. It represents a significant shift in how businesses develop new services and products, and in terms of how new technologies are distributed amongst your customers. As IoT connectivity increases and rapidly expands, it’s a trend that’s set to transform the way we wo...
17 May 2016 /retail
Konstantin Rabin Head of Marketing at Kontomatik
In the last century, banks faced two major crises, which resulted in economy collapses, bankruptcies, new regulations and a more secure environment. In 1929, just before the Great Depression, the banking system crashed, because there was huge unbalance between deposits and loans – around 1:9 – and no or scarce government guarantees and regulatio
16 May 2016
Google Company — now renamed to Alphabet — started as an academic project on Stanford University exactly 20 years ago. After these two decades Larry Page and Sergey Brin, the students, who developed BackRub search engine that became the foundation for Google.com, are leading one of the biggest companies in the world (listed #40 on Fortune 500 an
10 May 2016 /retail
Transaction banking generates lucrative and stable annuity revenues that are highly profitably at scale. For this reason numerous new non-bank entrants ranging from payment institutions (PI), payment service providers (PSP) and third-party processors (TPP) are entering the payments business. However to remain competitive, combat commoditization an...
03 May 2016
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