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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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Alex Noble Account Director at McAfee
Nationwide Building Society did well to respond so quickly to last week’s social media campaign. The story and the whole news cycle highlights a new set of risks & challenges for CRM. What makes it especially challenging is that there were no objections to the content of the adverts or Nationwide itself. The problem was the context in which the...
07 June 2013 /retail
Retired Member
Contactless cards are in the "limelight" again. First it was M&S, then London buses (in fact, BBC reported on that issue back in February), now it's Amazon. Let's start with the latter. I highlighted the "CVV-less" problem of Amazon last summer. Amazon claims they "employ impressive fraud detection systems". One ...
04 June 2013 /payments
Pat Carroll Founder/Executive Chairman at ValidSoft
I am still finding it hard to meet industry people who know much about SIM Swap fraud. The latest report on the ABSA and MTN initiative shows the urgency of getting to grips with this insidious and not-too-well-understood fraud vector. If you don’t know about SIM Swap fraud, it is committed when a fraudster, using social engineering techniques, du...
03 June 2013 /security
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
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