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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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From the early days, crowd psychology has always been part of our society's modus operandi. We worshiped idols drawn on the cave walls, we obeyed the shamans, we crucified and burned people at the stake. Mass hysteria then took more civilized forms when we bought and sold various forms of "snake oil" - from tulips in the 1630s to Boo in ...
03 June 2013 /payments
Months before the iPhone 5 was released, the industry was a buzz of rumours on the details of Apple’s new device. New connectors, a new OS, thinner, taller. But one feature that received wide-spread attention from the banking industry was the rumoured inclusion of an NFC Chip. Something that anticipated bringing mainstream scale to a technology th...
31 May 2013 /payments
The dramatic closure of Liberty Reserve digital money service by US authorities on the grounds that it is “the financial hub of the cyber crime world” is going to drive increased regulatory interest in digital currencies and alternative payment networks. According to papers from the US Department of Justice, Liberty Reserve had around a million cus...
29 May 2013 /payments /regulation
Mukesh Gupta Director at SAP India Pvt ltd
There has been a consistent growth in the number of Crowd-funding platforms all around the world. This is quite understandable given that they address a niche segment of the market that no other financial system has been able to address well. Some of these crowd funding platforms are now moving from crowd-funding (in lieu of kind & merchandis...
22 May 2013 /retail
According to an American Banker survey conducted this year, the percentage of consumers who consider mobile banking “safe” or “very safe” actually fell in the last 12 months from 42% (2012) to 38% (2013). The continued low uptake of mobile banking clearly has a lot to do with security. (It doesn’t help either that more than half of those polled s...
22 May 2013 /security
New payment "heroes" get hyped up a lot these days, hailed as the "saviors" or "the next best thing". The banks and the card networks get routinely thrashed. However, if you scratch the surface, you often see... "delusions of grandeur". Let's look at the facts. 1. Following the money trail It doesn't take muc...
22 May 2013
Brett King CEO & Founder at Moven
I had a call with an industry colleague earlier today talking the recent news on GMail Google Wallet integration, Dwolla's funding round and the "Square Cash" announcement. At large I'm seeing two broad industry responses to these moves. The first, is to see this all as a distraction from mainstream banking and that essentially all these ...
22 May 2013 /payments
Alex Noble Account Director at McAfee
I was surprised at the extensive coverage of the Barclays Wealth change in customer identification techniques. Barclays have introduced passive voice identification, so the system identifies callers as they speak to an agent in natural language. It is a challenging way of doing ID&V over a phone–line, but when it can be made to work it has hu...
Uri Rivner CEO and Co-Founder at Refine Intelligence
Leavenworth is a small town in the west-coast state of Washington. Starting as a couple of roads parallel to the new railroad tracks set in the late 19th century by the Great Northern Railway company, it was fashioned after a Bavarian village and became a typical western frontier town. With a current population of 1,965, Leavenworth features two r...
21 May 2013 /security
Why aren't retailers jumping en masse aboard the mobile payments train? Well, there is no gravy on it, the train is not leaving the station yet, and it might even be cancelled. It all boils down to "what's in it for me?" As a retailer, I am hit with the same charges no matter how card-linked payment is done - contactless (card or mobile),...
06 May 2013 /payments
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