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Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Charmaine Oak

Charmaine Oak Co-Founder/Director at Shift Thought Ltd

Payments systems in the US: A sleeping giant awakes

This weekend as we joined in wishing our American friends and family around the world a wonderful Independence Day, my thoughts turned to how Payment Systems are changing in historic ways in America, in many ways setting off a chain reaction that will transform the way we transfer value, not just in the US but world-wide. The danger was that the l...

/payments

Retired Member

Retired Member 

Payments and Remittances meld further as PayPal acquires Xoom

When I first entered the remittances industry the separation of these two industries was seen to be one of the laws of the universe, just as mobile was isolated as the solely desired channel for which new silos had to be built. I wrote The Digital Money Game to address the issues I foresaw with the convergence of industries and services into a mul...

/payments /retail

Charmaine Oak

Charmaine Oak Co-Founder/Director at Shift Thought Ltd

Could mobile wallets help consumers enjoy life more in Canada?

In honour of Canada Day today, I fell to thinking about how mobile payments may be able to help folk lead happier lives, for instance by providing more opportunities to enjoy things exactly the way we like them, through the great things technology can now do for us. Chances are if you live in Canada you will probably already be waving you card to ...

/payments

Retired Member

Retired Member 

Why the bank of the future will not be a bank

Britain’s next generation challenger bank has just received a banking license. Atom aims to take 8 million of the 64 million accounts in the UK, for which purpose it has secured £25 million of investments with an additional £75 million in line to be raised later this year*. More interestingly, Atom will start with mobile banking only, adding on-li...

/retail

Retired Member

Retired Member 

The Faster Payments New Access Model - what can we expect?

The Faster Payments Scheme Limited has worked hard to understand the access challenges to Faster Payments, and they’ve discovered two distinct groups of users: those requiring Immediate/ Real Time payments for their customers, and those needing Same-Day (Value-Dated) payments for their customers. The Scheme believes the New Access Model will appe...

/payments /retail

Charmaine Oak

Charmaine Oak Co-Founder/Director at Shift Thought Ltd

Mobile Payments in Europe: Converging or Diverging?

Curious to understand where mobile payments has actually got to in Europe, I recently caught up with Christian von Hammel-Bonten, EVP at Wirecard AG, to gain insights from the recent launches Wirecard is involved in across Europe. Things changed for NFC in 2014-2015 As a region, Europe has arguably the longest history of pursuit of mobile payments...

Retired Member

Retired Member 

DIGITAL BANKING Tips - Tip 24: Security Checklist for Digital Banking

Security is one of the biggest concerns Banks have about Digital Banking. I already underlined the importance of the topic in different tips, to which too much attention paid (please show some attention to the other tips as they get jealous!) and excellent feedbacks from the readers. That is why, I thought sharing a Security Checklist might be wel...

/security

Brett King

Brett King CEO & Founder at Moven

Digital Bank or FinTech? Sorry, you're not a Digital Bank

If you listen to the Breaking Banks AM Radio Show today (also available via stream and podcast) you'll hear a spirited rematch of the Great Digital Banking Debate that Michal Panowicz and I had on Twitter a few weeks ago. Anyone who is in a FinTech, of course, believes that FinTech represents the future of the banking experience, but Digital Banke...

Charmaine Oak

Charmaine Oak Co-Founder/Director at Shift Thought Ltd

As Health meets Wealth, can Wisdom afford to trail?

Today as fitbit prepares to float on the New York Stock exchange, after which it could reportedly be worth an estimated $4.1bn, I thought I'd reflect on the further convergence happening between the health and wealth markets and the need for greater wisdom that these trends entail. Health: Mobile Health, Wearables I first started monitoring the co...

Alex Noble

Alex Noble Account Director at McAfee

If mobile is the future, where are the telco’s?

There’s a sense of inevitability about today’s announcement from the BBA, that in Britain customers are predominantly using mobile banking. Customers like to be able to do their basic transactions quickly, easily and conveniently – and the smartphone in your pocket with an app from your bank offers all three. The rise of mobile banking has been a ...

/retail

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