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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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Jp Nicols Managing Director at FinTech Forge
Bankers have long sought a competitive advantage in a vast sea of largely undifferentiated competitors. For most players, and for most of the industry’s long history, the chief weapons in this war have been scale and localization. Either growing large enough to create economies of scale and/or scope, or trying to corner one or more local markets b...
22 January 2014
Retired Member
Zapp made some further progress by bringing onboard major banks. When it comes to e-commerce, Zapp could indeed represent a compelling value proposition if they do three things: (1) offer consumers the same protection as conventional credit cards; (2) provide e-merchants with liability shift in respect of chargebacks; and (3) extend Zapp to cred...
15 January 2014 /payments
When you are on a crowded bus, you don't know who is standing next to you and what that person is up to. There are a lot of weird and obsessed people out there... Now, imagine your own car - what would you feel if after a couple of hours on a motorway, driving at high speed, you turned around and saw a complete stranger in the backseat... That's e...
10 January 2014 /security
Pat Carroll Founder/Executive Chairman at ValidSoft
This itnews.com article sheds a different and interesting light on the methods now being deployed by the fraudsters. Basically these latest tactics are designed specifically to outwit the Risk Engines. Risk Engines work on the principle that if a transaction seems “normal” the risk engine will generally approve the transaction. Of course there
Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,
I should of course have added to the looking back at 2013 post - that the new direction for mobile payments also made a breakthrough. When it is realized that mobile payments should be payment receiver initiated in order to produce full value the speed in this direction will take up dramatically. How does this work and what does it mean? But first ...
10 January 2014 /payments
2013 was the year when paper and e-mail invoicing was overtaken by structured e-invoicing in Finland. This is now happening with accelerating speed all over the world as governments and other payment receivers are setting migration deadlines. In Finland this also meant that the Real Time Economy program could put full attention on what can be auto...
09 January 2014 /payments
In an earlier post I discussed the topic of NoSQL - what it is, what it isn't, and what are some of the misconceptions surrounding it. I'd like to now turn to the topic of what NoSQL is good for - the actual use cases, especially those involving Enterprise NoSQL. 1. Operational Trade Store Once a trade is made it needs to be processed by the back...
04 January 2014 /regulation
Once again we are sadly reminded of the vulnerability of businesses to data breaches, and we are left with 40 million customers fearing that their credit cards will be hijacked by fraudsters just in time for Christmas. There has been a consistent rise in cyber-crime in the past few years, and traditional security solutions have proven to be inadequ...
30 December 2013 /security
I had the opportunity to visit Beirut recently, where I met and addressed senior executives from various banks. It became apparent that many banks are still seeking to understand how best to leverage social media. Of course, this is a huge subject to cover in a single blog, so I will address one specific aspect of social media – micro blogging. ...
30 December 2013
Digital currencies such as Bitcoin have been capturing the attention of the world’s financial and technology press for some time, both in a positive and negative manner. Digital currencies are here to stay, it’s inevitable, and these virtual currencies are at an inflection point and already playing an increasingly apparent role in the daily tradin...
18 December 2013 /security /payments
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