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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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Last night my wife watched a great BBC documentary about grizzly bears. I caught some of it, and two facts fascinated me most: (a) grown-up bears, causing serious damage to each other, kept fighting for a spot on the river waterfall during salmon run, although thousands of fishes could be caught easily anywhere at that place; and (b) male bears wo...
26 April 2013 /payments
In the age of outsourcing and partnerships, things can go wrong when you are not in control of your own processes. That could damage your brand in many ways. Post Office has never been a media darling when it comes to payments, although they do provide solid (if somewhat old-fashioned) no-nonsense service: their currency exchange value proposition ...
22 April 2013 /payments
Nick Ogden Chairman at Ogden Research
It is a real irony that when a business asks it’s Bank for financial support, and gets told “no”, and finds alternative funding, it pays the money it has raised elsewhere straight back into the Bank that said “No” so that it can use the money within its business. Strange, but true. Every business requires payments to function on a daily basis. Hi...
A side note first, to put things into perspective: to address any of 6bn mobile subscribers, anywhere in the world, all you need is a 15-digit number (16-digit, in some cases). To send someone an email, anywhere in the world, you need a simple name@domain.TLD address. To send someone money, in 2013, you need this: 1. Beneficiary bank SWIFT 2. Acco...
19 April 2013 /payments
Last evening I attended a presentation by Tony Sales, Britain's Greatest Fraudster ("ex", actually - but he is still as sharp as ever). Although he didn't tell anything new in respect of how online and offline payment fraud is carried out, I could tell from the audience's reaction that several people were gobsmacked with the effortless e...
Mukesh Gupta Director at SAP India Pvt ltd
Fifth Third Bank and NextJob came together to address a challenge faced by most retail banks - Mortgage defaults. According to the press release from the company, Steven Alonso, executive vice president and head of Fifth Third Bancorp says - "Up to half of mortgage delinquencies are due to job loss. With NextJob, we immediately recognized an o...
17 April 2013 /retail
Data is at the center of most challenges facing our industry today, with business drivers such as new regulations, aggregated risk management, and deep customer insight all having critical data management implications. The term Big Data has become a common way to describe this, and while some of these challenges are associated with large volumes, ...
16 April 2013
Paul Blank e-Trading Solutions at TradAir
Ask the head of research at any major bank, and they will tell you that their insightful research is a core competence for the bank, and a reflection of their deep understanding of the markets, and a key differentiator and source of added value to clients, and leads to greater execution flows. But, is that true, and just how can banks metricate th...
15 April 2013 /wholesale
There has been a re-newed "witch hunt" lately to crack down on "tax evaders". I am not talking about the Cyprus crisis here - that's another can of worms with some interesting twists behind the scene (suffice it to say that some animals turned our to be "more equal" and, as usual, escaped unscathed). I am somewhat surp...
15 April 2013 /payments
Can a solution based on Faster Payments become a viable alternative to the card schemes in the UK?.. I (very much) think so. Faster Payments service is based on the "account to account" system, i.e. it runs on inter-bank rails bypassing the card networks. Hence, it's (almost) cost-free, from the payment perspective. Retail payments - as w...
10 April 2013 /payments
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