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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.

Richard White

Richard White Head of Trade Finance at Commercial Banking Applications (CBA)

What benefits could ISO 20022 bring to trade finance?

A continued push for digitisation, transparency and automation in trade finance prompts the question about the impact a migration of Swift messaging from MT to an ISO 20022 standard (MX) would have on global trade finance operations. As the payments and cash management industry has already been finding out, there are benefits, challenges and costs ...

/regulation /wholesale

John Bertrand

John Bertrand MD at Tec 8 Limited

By delaying instant payments, if suspicious, be effective?

At UK first Global Fraud Summit, HM Treasury plans to introduce legislation, only to apply to suspicious Authorised Push Payments executed within the UK in sterling. The proposed statutory instrument amends the Payment Services Regulations 2017 and allows PSPs to delay the execution of an outbound payment transaction by up to four business days fr...

/payments /regulation

Bo Harald

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

If you don't know where you are going, any road will do..

So where are we going? Do we realize that we nead leaps in productivty, in service capability, in security, in privacy, in Single Market progress and in serious lowering of costs in the public sectors? Then all countries and EU should make the strongest possible public-private efforts to get the Trust Infrastructure in place - supported by global...

/retail /identity

Bo Harald

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

If you have a hammer..

If you have a hammer, everything around may look like a nail - they say. With the hammer-advent of Self-sovereign Identity, DIDs, decentralised data, Trust over IP, Findy.fi, Open Wallet Foundation, eIDAS2 and especially the work on organisation wallets in EWC this is for sure looking like being the case. Any number of use cases have been listed....

/retail /identity

Steve Rose

Steve Rose CEO at Tint Financial Services

Maximising Trade Finance for SMEs: How Fintech Innovation Can Help Avoid Under-Utilisation Pitfalls

In the world of international trade, securing funding can be a crucial factor in driving business growth. With over 300,000 UK SMEs engaged in global transactions, cash constraints often hinder their operations as suppliers typically require payment before end customers settle their dues. Accessing trade finance, therefore, is essential for SMEs t...

/payments /markets

Alex Kreger

Alex Kreger Founder & CEO at UXDA

Reshaping Financial Planning and Investment Service through Manifestation

How can we design an app that provides a guide for better financial decisions? Users typically invest based on in-app offers, but, to help customers achieve their dreams, we can change that approach. While working on a recent investment product for our client, we found that users needed help first making sense of their investments by setting their...

/wealth /retail

Drake Paulson

Drake Paulson VP, Head of Partnership and Client Experience at Anduin Transactions

Private market firms struggle to balance growth and operational spend

From 2008 to 2022, private funds enjoyed turbocharged growth when their assets under management (AUM) soared five-fold to reach $13 trillion. The AUM metric came to rival returns as the golden benchmark of success and drove a surge in compensation for general partners and their teams. Money rolled into private markets, and with channels to private...

/regulation /markets

Alex Kreger

Alex Kreger Founder & CEO at UXDA

SME Banking: Customer-Centric Approach to Design the Next-Gen Service

SME owners often face the challenge of adapting business strategy to a highly dynamic environment while simultaneously managing day-to-day financial operations. It's like Formula 1 racers, where only precise and quick decisions can save them from failure. But how exactly can SME banking services help business owners? Find out how a customer-centri...

/devops /predictions

Bo Harald

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

There should be no doubt

Every organisation (enterprises, states, municipalities, 3rd sector) should asap deploy the now available simple EUDI-compatible applications for sending and receiving verified data (credentials) between each others, employees, citizens at large and many things. Why? Productivity leap (McKinsey: 3-6% GDPgrowth - EU commission slightly less), servi...

/security /predictions

Shaju Nair

Shaju Nair Payments SME, Product Manager at Temenos

Payments - A new world in dawning

If you haven't yet stopped to notice that the payment industry is at the onset of a remarkable change - then this is just about time. If the hundreds of on-going experimental projects in various central and commercial banks are going to finish well - the face of the industry will not be the same as how we know it today. The very concept of money a...

/retail /wholesale