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Innovation in Financial Services

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

Retired Member

Retired Member 

Ouch that hurts - the real cost of TJX's data loss?

Things aren't getting any better. Metaphorically though: "A patient in pain, facing death, will pay more for the cure than they would have before they believed they had the disease" - Dr Procter. "What disease, what pain?" you ask. "It still cost them less than replacing the cards." He's still going to get sick again,...

/payments

Andrew Fear

Andrew Fear Advisor / Consultant at Independent

Let Bankers choose their own core-banking systems

(Core systems replacement – evaluating your options) Ownership is the thing. Whose systems are they after all? Putting the ownership of the core-banking systems back where it belongs, with the bankers, is just part of being attuned. Forward-thinking bankers know that only the right technology, the right core banking systems can drive the busine...

/retail /wholesale

Retired Member

Retired Member 

Mobile payments: burning down the house?

I can’t fault her for trying. I guess it seemed like a good idea and a bold step towards freedom from the bonds of 20th century banking. “She” is a member of my staff based in the USA; let’s call her Alice, ok so I changed the name to protect to innocent! After reading that the Harris Interactive study released last week and the subsequent fea...

/payments /retail

Retired Member

Retired Member 

Bank Positioning - Custodian of Customer Trust

With internet spreading its net across the markets, financial products are being invented and developed by companies – read as independent innovators. The selling points for all such innovators mostly revolve around three common spokes – Speed, Secure & Service. With multiplicity of products and innovators in the financial intermediary space, ...

/payments /retail

Retired Member

Retired Member 

Payments - Bank's breadwinner

The primary objective of any payment system is to enable the circulation of funds. Without a robust infrastructure enabling smooth flow of funds, none of the financial institutions can assume the role of a financial intermediary in the economy. Payment systems have encountered many challenges and are constantly adapting to the rapidly changing pay...

/payments

Retired Member

Retired Member 

New Year gifts to foreign tax authorities

We should all be saying Happy New Year! Well, actually we have already, especially to tax authorities around the world. Many of them have just received a New Year's present of cash from the financial services industry, funded by investors. Why? Well, as cross border investment steadily increases at over 16% a year, each time there's a dividend p...

/regulation /wholesale

Retired Member

Retired Member 

Convergence? what convergence?

Is it me or does there seem to be a lack of convergence on the subject of security in internet banking these days? From a user perspective I have accounts with ING, Nationwide and Barclays to name but three. I also work with many banks in their back offices trying to make operations both more secure and more efficient (tough job to do both at on...

/security /regulation

Retired Member

Retired Member 

Indecent Exposure - keep your SOX on in bed!

I see that financiers have noticed that there's been a 12.4% increase in de-listings of foreign companies on US exchanges. The explanation appears to be either "a pent up demand to leave the US" or "the increasing unattractiveness of the US capital markets". Not only are these symptoms not causes, I'm not sure they're really ...

/security /regulation

Elton Cane

Elton Cane Digital product delivery at News Corp Australia

Innovation: Killing bad puppies and old dogs

At last week’s Forum for Innovation in Financial Services, organised by Finextra, we had some excellent presentations from James Gardner at Lloyds TSB and Pol Navarro of Banco Sabadell giving insight into how these particular banks are approaching the challenge of managing a formal innovation programme. The subsequent panel discussion also involve...

/retail /wholesale

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