Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Brett King CEO & Founder at Moven

Are banks to big to change?

Reformists and regulators in the US, in the EU and in other jurisdictions are grappling with the problem of massive banks and how their financial health is tied up with the very vitality of the economy. This happens because as the banks are so large and represent a major indicator of the health of the stock market, and thus the macro-economy, it i...

11 June 2010 /retail /wholesale

Retired Member 

Exclusive interview of Currency Fair

Here's the 2nd part. Enjoy ! Bruno Joanides :What were the most important points for the Irish Financial Regulator? Currency Fair:The key elements of the application were compliance with the Anti money laundering and counter financing of terrorism legislation, segregation of client and company funds and the ability to maintain capital requirement

11 June 2010 /payments

Retired Member 

Exclusive interview of the co-founder of Currency Fair

I m proud to post the 1st part of the interview that Brett Meyers has accepted to give me. Brett Meyers is the co-founder of Currency Fair (2nd company to get the license as a Payment Institution in Ireland). I will post the interview in 4 times. If you can’t wait feel free to drop me an email to Bruno.joanides@gmail.com , please take 1 minute t

10 June 2010 /payments

Uri Rivner CEO and Co-Founder at Refine Intelligence

Mules. Villains or Victims?

In this special post I’m interviewing a brave soul. Lets start with some background: Mule recruitment is an essential part of today’s fraud supply chain. Mules are used to launder money or ship stolen goods out of the country. So what are mules? Villains or Victims? There’s a heated debate. The FBI’s acting chief of Cybercrime division recently

09 June 2010 /security

Retired Member 

TRANSPOSITION OF THE PSD : STATE OF PLAY

According to the European Commission, at the end of March 2010, 16 Member States have transposed the Directive and 7 other member States have transposed it partially. Infringement proceedings were launched at end January against all those Member States lagging behind On the basis of the data provided by 13 Member States, the Commission services i

08 June 2010 /payments

Bo Harald Chairman/Founding member, board member at Transmeri, Demos, Real Time Economy Program,MyData

3,5 million accountants in Russia

The ECR e-invoicing conference in Moscow last week was told that out of a population of 141 million 3,5 million work as accountants. This may be explained by the information mentioned that some 12 billion invoices are exchanged every year. This may sound high – but may be explained by use of pro forma invoices. Paper for VAT invoices lead to 1000-...

07 June 2010 /payments

Retired Member 

MT, IAT and 20022

Recently Tower Group published research report on Payments developments, emphasizing the traction towards global payments standards (see Payments Rail). Now that IAT (International ACH transactions) are in production with mandatory extended information on counterparties and payment stacks, at every hop of payment information, standards intercha

07 June 2010 /payments

Retired Member 

Is there a Silver Bullet for Mobile Payments security?

Engineers tend to frown at marketing and BD, but creating leads or closing a deal is never easy. No matter where you are you want to be able to clearly articulate what is the customer’s pain point that you are solving. And you want your solution to be as straight forward as possible, too. If you resort to detailed tables and text you’re bound to

07 June 2010 /payments /regulation

Rik Coeckelbergs Independent Advisor, Opinion Maker and Consultant at The Banking Scene

HSBC rolls out online video consultations

I really like this kind of innovation honestly. It is cost saving, client friendly and lets banks do business on a geographically larger scale, well done HSBC! Of course this is not a new technology. OK I cannot test it, not being a client of HSBC and not living in Hong Kong either, but it sounds like a tuned skypetechnology. The basic principle I ...

01 June 2010 /retail

Uri Rivner CEO and Co-Founder at Refine Intelligence

Surprising surge of Phishing on nationwide banks

In the last couple of months the RSA Anti Fraud Command Center witnessed a dramatic increase in the number of nationwide US financial brands attacked by Phishing. Ever since the good old days of the initial Phishing attacks in 2003-2004, the share of national banks – those that span across the entire US – has been declining, as the major banks impl...

31 May 2010 /security