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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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Many companies, not just within the financial sector, have been looking recently to sell off anonymised data about its customers. Putting aside consumer concerns over privacy, are those organizations missing the real value of that information to their own business? Much of the data financial organizations hold today that is the most valuable in te...
04 July 2013 /retail
Two years ago, Arriva won some awards for their m-ticket solution. The concept was dead simple: a mobile app that displayed "dynamic" barcode image. Masabi offered a similar concept for the railway ticketing, but as barcode infrastructure did not spread much, being superseded by contactless smart ticketing, Masabi went to the US in sear...
03 July 2013 /payments
It was hard for anyone who followed mobile payments to miss the headlines about Clinkle, a Silicon Valley startup headed by the CEO who raised more millions that his age. Getting $25m in SEED money from such top names as Accel, Andreessen Horowitz, Intel, Intuit and Peter Thiel warrants attention, so let's peak under the hood of that (not so) myst...
01 July 2013 /payments
My mobile phone rang this morning. By the time I reached it, the caller (with blocked caller ID) hang up. A minute later my (ex-directory!) home number rang. I picked up the phone. The person on the other end of the line told me he was from Barclaycard's fraud investigation department and wanted to verify some transactions (Barclaycard does indeed ...
28 June 2013 /security
Hailo. Whilst hundreds of companies in the payments space are racing to solve the nonexistent problems (or, at the very least, problems which neither the consumer nor the merchant care much about), Hailo offered a great solution without even inventing anything. In fact, payment was a pleasant side-effect of their core product. Hail a cab using Hai...
27 June 2013 /payments
The most frequently cited and referenced part of PCI DSS relates to protection of cardholder data, mainly card number (PAN), cardholder's name and card expiration date. Now, Dave Birch of Consult Hyperion (one of the leading consultancies in the payments industry) as well as Mark Austin, head of contactless at Visa Europe, are saying that the info...
26 June 2013 /payments
When online banking first came on the scene it heralded a new era where customers could check their balance and pay their bills any time, day or night. A few banks integrated it immediately into their strategy, others felt compelled to set up a separate brand, as if they were afraid of it themselves. In the end it became a normal part of everyday ...
26 June 2013
There’s a very public evolution in the mortgage market as it adapts to new regulatory requirements. At the same time, there is a very quiet revolution in business and consumer technology. Consumers are increasingly online and interacting. In the next 30 minutes as you read this article, 700,000 apps will be downloaded from the app store, and Faceb...
20 June 2013
Jim Marous Publisher at The Financial Brand
The financial services industry has a vast reservoir of data on their customers, but is in the infancy stage of utilizing this data for financial or competitive gain. In a study published by the IBM Institute for Business Value in conjunction with the Said Business School at the University of Oxford entitled, "Analytics: The Real World Use of...
20 June 2013 /retail
Following a visit to PayExpo at Excel (nothing to write home about, as far as most of the exhibitors are concerned), I attended the FinTech Road Show today which was supposed to showcase some of the most disruptive financial technologies in the UK startup world. [Yawn] I don't want to sound like a broken record, but 99% of companies in the payment...
20 June 2013 /payments
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