article thumbnail

What Innovators Can Learn From Netflix

PYMNTS

But the one thing that might work is taking a page from the innovation playbook that Netflix seems to have written and followed over the last 22 years. In 2010, Blockbuster declared bankruptcy, a decade after famously telling Netflix, which then had $5 million in annual sales, to get lost when they suggested that Blockbuster buy them.

article thumbnail

Solve This Problem with Your Strategic Horizon

South State Correspondent

Strategic Horizon and Capital As mentioned, the problem that bank’s often run into when it comes to strategic planning is their time horizon is too short. The bank that will be around in the next 50 years will be one that develops the ability to build infrastructure now that allows for efficient innovation in the future.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Decade On, Lending Transformed By Crisis And Innovation

PYMNTS

And in lending, with the financial crisis in the rearview mirror, a decade on, invention – okay, innovation – has become a hallmark, at least in some corners. At the peak of the crisis, the delinquency rate was 10 percent in 2010, as underwater mortgages and foreclosures hit the headlines. Necessity is the mother of invention.

Lending 148
article thumbnail

Ten Years Of Payments Innovation And Reinvention

PYMNTS

As Seedrs CEO Jeff Kelisky told Karen Webster in a recent discussion, while most people in 2009 took one look at the sputtering and shuddering economy, there was a whole class of innovators and entrepreneurs who didn’t see a nuclear wasteland where the economy used to be. They saw a greenfield waiting to be planted. The list goes on.

article thumbnail

Fintech Hall of Fame: The Top Digital Innovations in Financial Services

Fintech Labs Insights

The last one, published in Jan 2014, featured 50 innovations (see below). Note: These are the rankings from 10 years ago. I will update with milestones from 2014 to today and publish next month. I’m taking suggestions here (so far: crypto, BNPL, earned-wage access, chatbots, deposit networks).

article thumbnail

Wave Lands $24M To Focus On AI For SMB Finance

PYMNTS

The company revealed the funding from an array of backers including National Australia Bank, Royal Bank of Canada, Portag3, and Exhibition Capital. Existing investors CRV, Social Capital, BDC IT Venture Fund and BDC Capital, OMERS Ventures, HarbourVest and OurCrowd also participated, Wave said.

Capital 123
article thumbnail

Citi Ventures on the Lookout for Machine Learning Startups in 2018

Bank Innovation

EXCLUSIVE – Since its launch in 2010, Citi Ventures has focused on investments that are strategic to its parent, the global financial services provider Citigroup. But when your parent company is a bank that spans the world, you can get involved with a lot of things.

Company 284