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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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A quick focus on Bulgaria to say that two companies have recently won their licenses as Payment institutions: Easypay (www.easypay.bg/en/) and Intercard Finance AD (www.icard.bg) The BNB (Bulgarian National Bank) has already issued 10 (or so) PI licenses As a reminder there are countries (France for example) where no license has been issued and ...
15 July 2010 /payments
The foundation of trust created by banks such as JP Morgan and Goldman Sachs, has taken a real battering lately as a result of sub-prime loans, collateralised debt obligations and credit default swaps. The last two years especially, have taken their toll on consumer faith in the banking system. This is entirely understandable given the fact that w...
15 July 2010 /regulation /retail
Rik Coeckelbergs Independent Advisor, Opinion Maker and Consultant at The Banking Scene
I am not going to claim mobile payments is going to eliminate cheques at all. To be honest I was more looking for a catchy phrase to start a story of cheques and why mobile might crush the popularity of cheques maybe, for sure in some regions. As many of you know I have a group on LinkedIn, Innovation In Payments, where all kinds of payments rel...
12 July 2010 /payments /retail
Uri Rivner CEO and Co-Founder at Refine Intelligence
He’s done it again! You got to love Paul the Octopus. To those of you living across the pond and not following football (soccer) news, that’s the cute octopus-turned-oracle that managed to predict each and every game Germany played in the World Cup, and foreseen that Spain will beat the Netherlands in the finals. Paul’s feat is outstanding. Th...
12 July 2010 /security
Bo Harald Chairman/Founding member, board member at Transmeri, Demos, Real Time Economy Program,MyData
The report of the Expert Group on e-Invoicing only mild-mannerly pointed out that the 3-corner model can limit choices of suppliers and thus be anticompetitive. The view was that the market will for natural reasons become a normal 4-corner one – allowing any buyer and any seller to use their chosen service providers freely (as long as these live up...
10 July 2010 /payments
When confidence plummeted along with the value of their investments, people started to track their savings more closely to preserve what they had left. Mostly, they did this online, for two reasons – cost and convenience. The increase in online banking intensity presents banks with an opportunity to improve customer satisfaction. Why? Because studi...
09 July 2010 /retail
Brett King CEO & Founder at Moven
A consistent theme keeps popping up as I discuss social media innovations with bankers these days. It is increasingly frustrating for innovators who want to use mobile, social media, the web and other such tools to get these past hyper-risk-adverse compliance specialists. It seems as if many of the banker's I'm meeting are saying that the favorite...
06 July 2010 /regulation /retail
An advertisement by a mutual fund company stated "investments are for when you need them". Settlement cycles are reducing on stock exchanges across the globe. Money movements for trade settlements still take time (hours, if not day/s). Liquidity is still a buzzword in the markets. So how does one define the when - and who or what defines
06 July 2010
This is a question I am thinking of for some period now. Innovation in payments is made for the customer... most at least! But it is all going so fast, that I wonder how long the Industry will be able to make profits out of it. Of course, as in many topics I am just a newbie asking himself some dull questions from time to time. But last week Chris ...
03 July 2010 /payments /retail
COUNCIL DIRECTIVE amending Directive 2006/112/EC on the common system of value added tax as regards the rules on invoicing Snippets – emphasis mine: “(8) Since the use of electronic invoicing can help businesses to reduce costs and be more competitive, current VAT requirements on electronic invoicing should be revised to remove existing burdens an...
02 July 2010 /payments
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