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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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Retired Member
In the Olympics, after years of training and dedication it seems that in the eyes of the media and the public, it all comes down to winning or losing. An individual may have achieved an outstanding personal best and even won silver or bronze (why else would anyone swim against Michael Phelps?) but this seems to be viewed almost as a consolation pri...
03 August 2012
Sometimes, to understand where you need to go, you need to look back at what the past held. Banks previously employed a silo-based approach towards pricing and reacted only to competitive offerings when required. Supply and demand largely influenced prices and rates, which were considered in the context of other banks’ offerings, rather than from ...
03 August 2012 /retail /wholesale
Competition for high net worth (HNW) clients is pushing banks to innovate around new product offerings. A huge influx of wealth & private banking businesses has sprung up in the region, focusing on the wealth that is being generated domestically. This is typically new money, first generation wealth and therein lays the challenge for establishe...
20 July 2012 /retail
The following fact always comes as a surprise to many people: there are very few technologies (as opposed to features) that Apple actually invented. Take iPhone, for example: Apple simply "glued" together (OK, it was far from simple and trivial, but still) components and technologies that existed for a number of years elsewhere. It all s...
18 July 2012 /payments
Pat Carroll Founder/Executive Chairman at ValidSoft
It was interesting to read in the FT's special on 'Cyberwarfare' recently which identifies that pin pad payment terminals pose a security risk for millions of consumers. According to MWR InfoSecurity, cybercriminals can use fake cards containing a software code to gain access not only to a customer's PIN and primary account numbers shown on the fr...
18 July 2012 /security
Personal Finance Management is in the focus of most banks nowadays. However, if it comes to PFM most banks (and vendors) are at the very early phase of their learning curve, at least, in the continental Europe. Bankfutura E-Finance Research has recently published a new market research and study on the financial behavior of German customers. The re...
16 July 2012
A French friend of mine recently boasted about his "ultra-secure" credit card issued by his local bank - that card required SMS-based authorization of every transaction. There is nothing secure about SMS-based systems (SMS forwarding attacks were first reported six years ago), but that's not the point. I got my iPad out and in less than ...
11 July 2012 /retail
Core banking systems were built for a slower technological pace, where code changes were rare and stability and security were paramount. Now, legacy core banking systems are an impediment to innovation. In today's faster moving world, banks have to meet the changing risk appetites and product bundling profiles of a wired generation that has grown ...
09 July 2012 /retail /wholesale
Viewing a balance is by far the number one transaction conducted in Mobile banking. Eighty per cent of the time it is the only activity done by a customer after they login. That’s right. Eight out of ten times a customer logs in; they view their balance and log right back out. The other 20 per cent of activity is made up of viewing transaction...
08 July 2012 /retail
On my desk sits one of the first contactless credit cards. It dates back to 1926 when it worked in exactly the same way as its modern NFC successor - you present it to buy goods or services. If they had mobile phones back in 1926, with a piece of Scotch tape that card could have been turned into the equivalent of Barclays PayTag and used for &quo...
05 July 2012 /payments
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