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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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I had to register a new card with Skype this morning (the old one expired). Tried my newly minted Barclays Mastercard. At the first attempt, the transaction was aborted, without any explanation. Tried again. My second attempt resulted in some weird error message saying "Please complete the authorization process" followed by - on the same...
04 October 2013 /payments
I had an interesting discussion with Brett King as to what "mobile" payments really are. Let's look at history, semantics and the core element of any payment (Exec Summary - it's all about authentication). To be pedantic, the original meaning of the word "pay" is to "hand over money (or goods) in exchange for goods or servi...
03 October 2013 /payments
Chris Principe CEO at APB, Inc.
Cash and Trade - Like Mixing Apples with Oranges There has been much written regarding the convergence of cash and trade to benefit the banks’ corporate clients. The benefits are real, banks delivering cash and trade has not been real. The corporate CFOs are challenged with a never ending quest of optimizing their capital. Over the last few decades...
03 October 2013
Brett King CEO & Founder at Moven
There has been some debate on Finextra of late as to whether Mobile Wallets and Payments are mainstream, or whether we are still years off seeing them have some real impact on commerce and payments. I thought I would give the Finextra community the benefit of some simple research that shows that not only are mobile payments gaining traction, but f...
I am, however reminded that historicaly, banks weren't lock or safemakers, they were banks. Lock-pickers & safecrackers had quite a few wins, but different specialist industries evolved to deal with that. The banks didn't start becoming safemakers or lock inventors, they stuck to their banking. Probably a good thing. Strangely in the digital ...
Pat Carroll Founder/Executive Chairman at ValidSoft
The US Federal Reserve Banks recently announced a public consultation exercise on improving the future U.S. payment system. In the U.K., the newly formed Financial Conduct Authority (FCA) has also just published an interim report exploring some early findings of a review into mobile banking services, setting out the possible risks to consumers and...
02 October 2013 /security /payments
Last year the US contributed close to 20% of the world's GDP despite coming off the back of the biggest economic downturn since the 1930's Great Depression. The US, UK, Germany, Russian and CIS States, and China dominate the world's payment landscape currently, but in volume of non-bank payments the US dominates with over 50% of the world's total...
02 October 2013 /payments
Uri Rivner CEO and Co-Founder at Refine Intelligence
“Customers appreciate security” is something I’ve heard time and again. When a big credit card associations wanted to increase user registration to a new eCommerce authentication program some ten years ago, they did a ‘focus group’, and people told them it would be really swell if the bank enforced the new security rather than made it optional. “I...
01 October 2013 /security
Whilst I have personally enjoyed the growth of acceptance of NFC based contactless payments for my payment cards and my Samsung S4, I can't but help notice the people around me in either their payment behaviours - or in them observing mine. Paying with a tap of a phone still gets a look of bewilderment. That wouldn't be such a worry if it were jus...
28 September 2013
My recent study into the UK mortgage market has once again provided real insight into the sales and originations process and best practice. It also unearth lender sentiment as the market moves towards MMR. Lenders see a return on branch investment So far, 2013 has been the best year for lenders since 2008. Not only is the mortgage market growing, b...
27 September 2013
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