Innovation? Humbug!

Chris Skinner

I hosted a banking seminar in the late 1990s where David Llewellyn, a Professor of Money, stood up and stated that “there will be more change in the next five … The post Innovation? Grid Innovation UncategorizedBill Gates said in the early 1990s that “we need banking but we don’t need banks anymore”. He was wrong.

Pay-by-Nose, a new innovation

Chris Skinner

My … The post Pay-by-Nose, a new innovation appeared first on Chris Skinner's blog. Case Studies Fintech Future Grid Innovation TechnologyI blog regularly about what a fanboy I am of Chinese technology giants Alibaba and Tencent.

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From innovation theatre to real innovation

Chris Skinner

I was listening to a great discussion about innovation (again) amongst a group of innovative bankers. In particular, how the conversation about innovation has changed over the past decade. Just before the financial crisis hit, innovation was big … The post From innovation theatre to real innovation appeared first on Chris Skinner's blog. Digital Bank Grid Innovation

Direct Line: innovating InsurTech

Chris Skinner

Fleetlights is an army of drones that light up the night skies and are designed to help people in difficult … The post Direct Line: innovating InsurTech appeared first on Chris Skinner's blog. Fintech Grid InnovationAt the conference I attended the other day, one speaker highlighted some InsurTech I’d not seen before but thought pretty cool. It’s a prototype service from Direct Line called Fleetlights.

What does “innovation” mean in finance?

Chris Skinner

I recently was invited to be the keynote at some innovation awards in Ireland. It got me thinking about what innovation means in finance, so here are the notes from my speech. I trust it’s useful … Thank you for inviting me here to join you here for the … The post What does “innovation” mean in finance? Grid Innovation

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. Using innovation to move consumers more into the “want to” camp comes with a unique set of challenges, some easier to overcome than others.

Figure VP Tony Morosini to speak at Bank Innovation Ignite

Bank Innovation

Tony Morosini, vice president of banking and payments at Figure, will attend and speak at Bank Innovation Ignite on March 2-3 in Seattle. Bank Innovation Ignite Carousel Innovation Strategy Payments AI Bank Innovation Ignite 2020 FigureMorosini will share insights and perspectives on lessons banks can learn from big tech companies like Google, Amazon and Facebook during the fourth session on Monday, March 2. Prior to his role […].

Payments innovation in the Latin American market

Mobile Payments Today

There are a number of important innovations underway that are changing the industry Latin America is becoming an increasingly important market in the global payments business.

Fintechs, Beware of ‘Innovation Tourists’

Bank Innovation

Now that the industry is (mostly) clear on the fintech “friend or foe” issue, startups are busy pitching their products to the eager incumbents and their innovation teams. Startups, beware of “innovation tourists.” Exclusive Innovations Operations Startups Technology Wealth Management fintech startups GoldBean innovation Jane Barratt

FinTech Cloud Technology Fuels Banking Innovation

PYMNTS

As cloud technologies emerge to help financial institutions (FIs) drive digital innovation, Finastra has introduced its Fusion Payments To Go offering for small and medium-sized banks. B2B Payments B2B banking Digital Banking FinTech Innovation News

Facebook has forced the world’s banks to innovate

Chris Skinner

… The post Facebook has forced the world’s banks to innovate appeared first on Chris Skinner's blog. Blockchain Future Grid InnovationIt’s been interesting to watch the development of Facebook’s Libra project. As I expected, regulators hate it and are asking lots of questions about it. Most seem to want to ban it. And now PayPal has dropped out of the original founding team, with Visa and MasterCard rumoured to follow.

Beautycounter Embraces D2C Innovation With Purpose

PYMNTS

No matter how innovative they are, companies still need to get paid. And not many companies this year have combined business model creativity with payments innovation more than Beautycounter. Retail beauty Beautycounter D2C digital commerce ecommerce Innovation News personal care

Look East for innovation

Chris Skinner

After all, it’s easy to call out banks for doing banking as usual but, if I … The post Look East for innovation appeared first on Chris Skinner's blog. Digital Bank Fintech Future Grid Innovation OpinionI often talk about faster horses and how banks think digital is doing banking cheaper and faster. It’s all about efficiency and effectiveness. So, I was asked the other day: where is the car?

A disruptive innovation appears

Chris Skinner

I was listening to a financier talking about FinTech the other day, and claiming that they are all sustaining innovations and not disruptive. They were referring to Clayton Christensen’s innovator’s dilemma discussions, where Professor Christensen points to different markets that were destroyed by disruptors. Meantime, we need to really understand the difference between sustainable innovation and disruptive innovation, in order to see if there any disruptive change in banking.

Why organisations resist innovation

Chris Skinner

I love this thesis, as it really shows why it’s incredibly hard to innovate internally. The internal innovator is like some strange virus infecting the organisation. The internal innovator may be encouraged to challenge and question the way the company works, but anyone dealing with such a creature finds them objectionable. It is the reason why innovators have their dilemma. You cannot innovate in an organisation that will do its utmost to resist change.

Brex’s Arthur Levy to speak at Bank Innovation Ignite

Bank Innovation

Arthur Levy, vice president of business development at Brex, is attending Bank Innovation Ignite in Seattle, which takes place from March 2-3. He is speaking on a panel titled “How to make SME banking innovation work,” which will focus on small business products, payments and underwriting. Bank Innovation Ignite Customer Experience Innovation Strategy Lending Payments AWS Brex First Republic Bank Ignite JetBlue

Weekly Wrap: Takeaways from Bank Innovation Build

Bank Innovation

In this episode, Suman Bhattacharyya, deputy editor, interviews Bob Meara, senior analyst at Celent, on some of the key conclusions from Bank Innovation Build. Bank Innovation Build Innovation Strategy Premium Retail Banking Video Celent Weekly WrapWelcome to the latest episode of our weekly wrap video series, for the week ending Friday, November 8, 2019.

Bank Innovation Launches Public Telegram Channel

Bank Innovation

Come join Bank Innovation’s Telegram Group. Bank Innovation‘s Telegram channel was created to foster discussion and collaboration among the fintech community on the latest trends, insights and events […]. Exclusive APIs Bank Innovation BlockChain fintech fintechs TelegramEXCLUSIVE – Interested in the latest trends in payments, digital banking, blockchain technology, API, security, big data and all the other hot topics in the fintech space?

Trends driving ePayables innovation

Mobile Payments Today

The rise in consumer payment technologies raises questions about when will the business-to-business payments model see a similar level of transformation

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Citi Innovation Labs developing virtual tours for clients amid pandemic

Bank Innovation

Citi Innovation Labs employees are finding new ways to connect with bank clients, developing self-guided virtual lab tours to show clients the innovation teams’ latest projects. “We We are working on an idea called ‘Lab in a Box,’” said Gulru Atak, global head of innovation for Citi Treasury and Trade Solutions. Carousel Corporate Banking Innovation Strategy Investing Payments Premium Product Design Retail Banking Citi Ventures Citibank Citibank Innovation Lab D10x

10 Most Innovative CEOs in Banking 2017

Bank Innovation

Exclusive Features Innovations Mobile Online Payments 10 Most Innovative CEOs artificial intelligence Citi Fintech clinc Mobile banking online banking Starling Bank UK fintechFintechs are partnering with banks, banks are using blockchain technology, artificial intelligence, and cryptocurrency and financial regulation is still undergoing massive changes.

Innovation with compliance is difficult

Chris Skinner

You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog. Grid Innovation Regulation UncategorizedI’ve been at a few conferences this week, and was amused by an audience poll at one event. The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition?

Innovative Approaches To Retail With Digital Technology

PYMNTS

Today In Data Commerce digital commerce Innovation News payments Retail Security Today in DataOnline marketplaces are connecting retailers, consumers and nonprofits amid the pandemic.

Bank Innovation Ignite to focus on digital customer journey

Bank Innovation

Bank Innovation Ignite, which will take place on March 2-3 at the Grand Hyatt in Seattle, is an invitation-only practitioners’ retreat that will explore the evolution […]. Bank Innovation Ignite Carousel Innovation Strategy Retail Banking Startups Bank Innovation Ignite 2020

12 reasons why banks don’t innovate

Chris Skinner

The post 12 reasons why banks don’t innovate appeared first on Chris Skinner's blog. Digital Bank Fintech Grid Innovation Opinion TechnologyI just got back from the ICEEfest in Bucharest, Romania. It’s a fantastic expo organised by Dragos Stanca and his team, and was very enjoyable even with the master of ceremonies, Jeff Leach, taking the mickey out of me. Jeff is an actor and comedian, and spent the whole conference f-bombing the speakers and the audience. Different!

Guide to Genuine Innovation When Everyone Is ‘Innovating’

Bank Innovation

This bank created an innovation lab, and that bank is launching a fintech team. Exclusive Lending Mobile Online Operations Payments Technology Ally Financial Capco Core Innovation Capital PeerStreetBut this other bank just started a blockchain focus group, and everyone else is investing in tech. Gone are the days when banks could afford to be “conservative” with new product launches and tech projects, which Read More.

Report: Strategic Payment Investments Give FIs, FinTechs Innovative Payment Options

PYMNTS

Consumers’ desire to go contactless or cardless during the pandemic presents plenty of opportunities for FinTechs, banks and other card issuers to bring innovative credit solutions to market, but such investments much be approached strategically.

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The biggest innovations in retail banking (research)

Chris Skinner

Last year, one of my most read blog entries was this one: The top ten trends in banking innovation (February 2016). This was a summary of the top trends in banking innovation, and … The post The biggest innovations in retail banking (research) appeared first on Chris Skinner's blog. Grid Innovation Technology Uncategorized

COVID-19 pushes banks’ innovation to great heights

Accenture

The post COVID-19 pushes banks’ innovation to great heights appeared first on Accenture Banking Blog. The COVID-19 pandemic has made digital transformation more relevant and urgent than before for everyone from governments to companies—and banking is no exception.

Why We Need Bank Innovation Build

Bank Innovation

It is this revolution that has led us to present Bank Innovation Build, our newest conference, on Nov. Bank Innovation Build 2019 Capital Commerce Corporate Exclusive Experience & Design? Insurance IoT & Wearables Lending Open Banking Operations Payments Retail Sales & Marketing Security & Risk Social Media Startups Wealth Management fintech fintech partnerships HR HR & Training innovation groups innovation labs innovation teams

Innovation Must Be Measurable to Be Valuable [VIDEO]

Bank Innovation

The word “innovation” get thrown around a lot in banking these days (ah-hem!), but Lara Druyan, managing director, head of innovation, west coast, for the Royal Bank of Canada warned that without metrics, it is easy for innovation efforts to get “squishy.” ” Druyan described the metrics that helped give structure to innovation efforts.

Video 228

Innovative Approaches To Retail And PCI Compliance

PYMNTS

And in payments innovation, tokenization and data vaulting take the sting out of payment card industry (PCI) compliance. Today In Data Commerce compliance Innovation loyalty News payments Retail Today in Data

Creativity and innovation will be the post-pandemic keys to customer retention

Mobile Payments Today

Once the world has transitioned into a post-pandemic phase, businesses that realize health and safety will still be paramount to customers will be the ones determined to find creative and innovative ways to maintain and retain customers

Advancing With Collaboration, Cooperation And Innovation

PYMNTS

Western Union is moving forward with a mindset grounded in collaboration, cooperation and innovation. Payments Innovation Commerce COVID-19 digital commerce Digital Payments eBooks Innovation News payments western union

Bank Innovation announces new innovation rankings

BankInovation

Bank Innovation released its innovation score rankings for U.S. The dataset resulted from a collaboration between Bank Innovation and FI Navigator, a banking data and analytics platform. financial institutions today.