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.

Beyond Open Banking Compliance: The Opportunity for Commercial Banks


Following our article on 5 actions to enable Open Banking for business finance, we now consider how commercial banks can innovate their entire business model by using Open Banking frameworks to build a powerful ecosystem.


Sign Up for our Newsletter

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

Trending Sources

Will these innovation trends shape banking’s future?


The Efma-Accenture Banking Innovation Awards are set to return on November 18th for a virtual celebration of banking’s best and brightest. With a record 816 innovations submitted by 275 institutions in 73 countries, I’m excited to see what this year has in store.

Trends 399

Innovation with techquisition: Getting it right


As technology continues to disrupt the traditional way of doing things and innovation moves at an increasing pace—some say a “frenetic” pace—the leaders of the financial services industry will need to move fast to respond.….

The Role of Artificial Intelligence in Pandemic Response: Lessons Learned From COVID-19

In March 2020, the world was hit with an unprecedented crisis when the COVID-19 pandemic struck. This whitepaper reviews lessons learned from applying AI to the pandemic’s response efforts, and insights to mitigating the next pandemic.

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.

Rebeca Romero Rainey: The spirit of innovation

Independent Banker

A spirit of innovation and can-do attitude will serve you well this year, helping you remain ahead of the curve and address issues that arise. That spirit of innovation and can-do attitude will serve you well this year, helping you remain ahead of the curve and address issues that arise.

Tango Card: Innovations Through Uncertainty


In " A Look Forward: What Executives Wish for America and the World in 2021 ," Nat Salvione, chief commercial officer of Tango Card , discusses the innovations that have emerged since the pandemic: specifically, the use of pay-ahead apps and remote team engagement.

CBDC and Technology: Enabling Blockchain to Drive Change


The key innovation is the adoption of a value-based, or token-based, approach to money. Central bank digital currency (CBDC) represents a potential digital sea change in the daily function of finance.

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.

Rebeca Romero Rainey: Developing innovation strategy

Independent Banker

Community banks are independent institutions fueled by the needs of their individual communities, so what constitutes innovation will look and feel different for every bank. As the popular saying goes, “Creativity is intelligence having fun”—and the same can be said for innovation.

Three significant innovations leading banking accessibility


In my previous post, I highlighted a few of the incredible innovations we saw during the Efma-Accenture Banking Innovation Awards in 2019. The post Three significant innovations leading banking accessibility appeared first on Accenture Banking Blog.

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

Corporate Card Innovators Dive Into Virtualization


As FinTechs and other financial service providers drive commercial card adoption, virtual card technology becomes an increasingly popular focus of innovation initiatives, particularly as corporates demand solutions to support a remote workforce.

What Innovators Can Learn From Netflix


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.

Innovating The ATM Beyond Cash


The COVID-19 pandemic is accelerating the pace of digital innovation across the financial sector, and credit unions (CUs) are no exception.

ATM 205

FinTech Cloud Technology Fuels Banking Innovation


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

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 Figure

Three innovative solutions shaping the future of the banking industry


The Efma-Accenture Banking Innovation Awards are always a highlight of the year for me—and 2021 promises to be one of the most exciting competitions yet. The post Three innovative solutions shaping the future of the banking industry appeared first on Accenture Banking Blog.

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.

Balancing payment innovation and trust

Mobile Payments Today

Rapid innovation in the global payments space has created new opportunties for bad actors to expoit these new ecosystems and requires ways of thinking on how to approach the subject

Benchmarking Innovation: What Do Indices Foretell?

Daily Fintech

In a recent analysis of innovation assessment scores, a new addition to its carrier credit rating framework, AM Best found scores a tad below those from a year ago. The post Benchmarking Innovation: What Do Indices Foretell?

Beautycounter Embraces D2C Innovation With Purpose


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

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.

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

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.

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?

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.

FinTech Innovation Eases B2C Sellers’ Entrance Into The B2B World


There’s a huge opportunity [in B2B payments] for businesses that have traditionally focused on the consumer,” David Disque , president of Corporate Spending Innovations (CSI), said in an interview with Karen Webster.

Advancing With Collaboration, Cooperation And Innovation


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

Real-Time Innovators Bring Data To Corporates


Visa Talks Payment Rail Innovation. In a PYMNTS interview this month, Visa Global Head of New Payment Flows at Visa Business Solutions Alan Koenigsberg discussed the need for existing payment rails to innovate and adapt to new use cases.

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.

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!

Canada, time to expect an innovative lifestyle banking app


The post Canada, time to expect an innovative lifestyle banking app appeared first on Accenture Banking Blog. Uncategorized Bank Innovation Customer Experience future of bankingThe first mobile banking application hit the Canadian market over ten years ago.

Setting the stage for the best banking innovations of 2021


The Efma-Accenture Banking Innovation Awards have been a catalyst for innovation in banking since their inception in 2013. Since then, I look forward to them every year as the industry rewards and celebrates innovation.