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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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Pat Carroll Founder/Executive Chairman at ValidSoft
Hot on the back of the recent news of Europe’s largest department store group El Corte Inglés taking the plunge towards contactless, yesterday’s Finextra report highlights new figures from WorldPay showing that contactless payments in the UK are rocketing, with 226% more contactless transactions compared to this time last year. This is yet furthe...
28 February 2014 /payments
Retired Member
Prosumer is a portmanteau originally formed by contracting producer with the word consumer. In a commercial environment, it describes a market segment between professional and consumer. (Wikipedia) Portland, the main city of Oregon, has little to do with the techie Silicon Valley or the greedy and sophisticated city which is home to Wall Street. Fo...
28 February 2014 /wholesale
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
We all know that administrative processes will be fully automated in the future and continue their march towards real time. Still far too many of us continue to sit on our hands - perhaps not hoping that this inevitable change is a bad dream - but not having the energy or time needed to get out of daily chores. All this despite the whole process b...
27 February 2014
Blinded by the mega deal between Facebook and the 50 employees company WhatsApp for obscene amount of 16 Billion USD, for many followers of digital gossip, the news about the acquisition of Simple Bank by the Spanish group BBVA went almost unnoticed. It’s true that the value of the deal, EUR 100 Mio looks ridiculous in comparison, however I want t...
24 February 2014 /wholesale
Paul Blank e-Trading Solutions at TradAir
Last week saw the introduction of mandatory execution on new SEF platforms for certain standardised interest rate swaps. Such swaps will no longer be executed bilaterally between banks and their clients, but rather must be executed anonymously on SEFs. The move to SEF trading has however been tentative, with many buy-side firms holding back, nonet...
David Bomser Head of U.S. Core Banking & Mortgage at SAP Fioneer
There was a skit on Saturday Night Live many years ago about a game show based on directions for getting around New England, and one of the punch lines was, "can't get there from here". Today, many large banks are finding this to be true when it comes to restoring their returns on equity (ROE) to pre-Global Financial Crisis (GFC) levels....
19 February 2014 /retail
Alex Noble Account Director at McAfee
It’s been an interesting week for those interested in Financial Services and how biometrics could be used in the industry. It was the subject of my last post on Finextra (“Voiceprints can counter ID theft, but other threats remain”), looking at Barclays’s use of Nuance and Cisco Voice Portal and last week on Finextra brought out some of the indust...
Security flaw(s) and other related issues apart, Bitcoin has one fundamental problem - its proponents position it as digital currency. Sure, some of the high-profile VCs do highlight BTC's potential as "secure distributed P2P transactional platform" - but (a) it is an open question how secure BTC really is, and (b) P2P that relies on th...
10 February 2014
In my previous post I recommended transparent charging for services - covering the costs as a minimum - to guide the consumers to act in their own interest. Oddly enough this is not widely supported by consumer ombudsmen. They seem to do all they can to delay visible pricing and nudging customers into better and more economical services. Do they no...
05 February 2014
When we launched e-banking back in 1982 for consumers and SMEs at Union Bank fo Finland we pretty soon started to charge for the service. We thought that getting banking into homes and offices was worth paying a very small monthly fee for. Somebody even said that value and convenience for free is stupidity per defenition.. There still are of course...
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