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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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How is Beacon different from in-store WiFi? Except that WiFi works on any smartphone compared to Bluetooth Low Energy (used in Beacon) which is only available on a few latest models?.. (Google enabled full support of BLE on Android only two months ago...) Also, if I am in a "shop-dense" area (e.g. a shopping mall), guess how many compet...
11 September 2013 /payments
To usher payments into a new era, the US does not need "chips" (EMV). Here's why. Retail fraud level in the UK (EMV country) is 0.013%. Level of retail fraud related to "mag stripe + PIN" in the US is.. 0.013% too! It's not about the "chip", it's about the PIN... Also, EMV solves only part of the problem as far as...
Uri Rivner CEO and Co-Founder at Refine Intelligence
Scene 1 I was sitting at the table of a cozy riverside restaurant with three members of congress, part of a 23-strong delegation visiting Israel in August. Led by Democratic whip Stanley Hoyer, the group of newly elected lawmakers wanted to hear all about the Start-Up Nation, and I was invited by the American-Israel Public Affairs Committee to do ...
11 September 2013 /security
They say there are three types of reality: (a) how we perceive a given object or situation, (b) how other people see it and (c) what that object and situation really is. Those three "realities" never align... With human beings, judgement is always "clouded" by one of the numerous biases, most of which we are not even aware of. ...
10 September 2013 /payments
The motive behind the proposed changes to the Payment Services Directive is entirely sensible: payments innovation has leapt ahead of payments regulation and this is the Commission’s attempt to catch up, but the devil is in the detail. The Commission’s ambition to get this legislation adopted by Spring next year is way too optimistic – the original...
The word technology is often used when consumers aren't confident in something. It's new and therefore, most of us are “consciously incompetent” when it comes to understanding, using or embracing it. It’s a great catch all label in that sense. Take a modern car. Absolutely packed with technology. But as a user, we're largely oblivious. A lot o...
09 September 2013
Such an event is, probably, an example of what one would brag about - in public or within a close circle - rather than keep secret, unless you are married with kids and don't want to come across as unfaithful and untrustworthy. (My choice of the "target" was inspired by Jeremy Clarkson who regularly refers to KK when talking about cars)....
06 September 2013 /security
I have been bullish on smartwatches for over a year. Now that Pandora's box has been opened by Samsung and Qualcomm, with Apple to follow soon (not to mention such "swallows" as Pebble), what is my view on wearables?.. Some industry analysts are saying that by 2020 the wearables market will be worth around $30-50bn. I think they are wron...
05 September 2013
Most of the banks run on systems build in the 70s-80s. They keep patching them up, tweaking here and there, instead of doing the right thing: create a totally new architecture from scratch, test and dry run it, and then switch the "rails" overnight (some banks did just that, though not in the UK). The reason for such "coward" b...
04 September 2013
Pat Carroll Founder/Executive Chairman at ValidSoft
The UK's Financial Conduct Authority (FCA) has published an interim report exploring some early findings of a review into mobile banking services, setting out the possible risks to consumers and areas that firms should consider when developing their services. When it comes to financial services, consumers want convenience and security. Mobile can ...
03 September 2013 /security
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