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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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Retired Member
We all like making predictions (and like being right). That's fine when we are doing that for fun. When it comes to business, you'd better "know your shit" (and know when you don't). Getting married to own views and assumptions can cost you money or your (corporate) life. Just ask Kodak, or AltaVista (who refused to buy Google for $1m.....
29 July 2013
Pat Carroll Founder/Executive Chairman at ValidSoft
The breaking news from the US indicating that over 160million credit and debit card numbers have been stolen, whilst not unpredictable, is still quite staggering. Early estimates suggest around $300 million dollars has been stolen, but this figure looks likely to increase dramatically. It appears that a group of criminals utilising malware to in
29 July 2013 /security
Card fees are to be capped in Europe. There is a lot of debate around that decision, and the jury is still out as to the mid- and long-term implications. For example, although Amex is not directly affected by the capping, they can be put under (a lot of) pressure too, by the retailers. However, there is another (major) casualty in the making: iZe...
25 July 2013
PayPal are bearish on cards - "Plastic Credit Cards Will Become Obsolete in 5 Years". Surprise, surprise! Considering that MasterCard are introducing a digital wallet fee which will affect mainly... PayPal (as well as their... plastic card launched just six months ago), that statement is not surprising. As Mark Twain put it, "the re...
25 July 2013 /payments
Teenage children of our friends taught me the most typical response they often give to their parents - stretched out index fingers and thumbs forming "W". "Whatever..." (If you then flip hands down, you get even more emphatic message - "Whatever, Mom!..") That's how the payment industry is approaching fraud and securit...
23 July 2013 /payments
Secure Electrans are on a mission to combat e-comm fraud. The concept is simple - give consumers a free PIN pad for home use, so that every e-comm transaction can be done with the same level of security as in a physical store, and participating merchants can benefit from "a dramatically reduced fee." The difference between "cardhol...
18 July 2013 /security
The rumours about iPhone and NFC are being circulated again. That caused a new wave of excitement within the NFC community where NFC-enabled iPhone is seen as the white knight. Yet, if (IF!) Apple introduces NFC on iPhone that won't change much, if anything at all. Here's why. The largest and the most compelling use case for NFC on a mobile phone ...
17 July 2013 /payments
Brett King CEO & Founder at Moven
This week we're celebrating 5 years of the Apple App store (see Wired's commentary.) The realization that in 5 years mobile and apps have had such a huge impact on banking, can not be understated. Of course, there were many in the financial services space that were massively skeptical of the iPhone and Apps when they first launched in 2007. My fav...
15 July 2013
I was interested to read the article ‘Brits relaxed about banks mining data to fight fraud’. It provides an interesting perspective on the growing debate regarding the need for strong data privacy as well as strong transaction security, particularly within the finance sector, and especially as the means by which we conduct our banking and transac...
10 July 2013 /security /payments
Anti-money laundering (AML) - as well as KYC - is something which every company serious about payments has to deal with. AML requirements are pushed by the industry regulators (who are not always in touch with reality...) and are seen by the industry as the (un)neccessary evil - none of those measures prevent multi-billion (!) money laundering sc...
10 July 2013 /payments
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