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Innovation

Why Banks Are Failing The Innovation Test (and how they could do better)

So at one of my meetings last week, someone tells me to checkout The Disruption House.  What’s that, I ask?  Go take a look, they say.  So I did, and it’s fascinating. The Disruption House is an advisory firm that includes SWIFT Innotribe friend Haydn Shaughnessy.  The firm has produced a report as to why…

Top 10 FSIs innovation capability

The imminent world of artificially intelligent everything

There’s lots and lots of chat about AI, Artificial Intelligence, in banking using deep data analytics to augment our financial lifestyles.  This is nothing new.  After all, Spielberg made a film about it way back in 2001.  What is new is the developments in AI that we’re seeing from firms like Google and IBM. IBM’s…

From startup to incumbent: the innovation cycle (Part Three)

Having written that the start-up soon becomes the incumbent, a great question on twitter was asked: “so how does the incumbent maintain the innovation culture?” The answer is that they can’t. Any start-up will eventually gain momentum and size that means they need structure.  Structure, historically, meant organisation and organisation, historically, meant hierarchy.  That’s certainly…

The most innovative solutions …

I was invited to host the BAI Innovations Showcase last week, where 21 of the top solutions providers were invited to demonstrate their wares (soft and hard!).  The audience voted throughout the afternoon for the firm they liked best and, lo and behold, the winner was: Helios & WideNetHelios integrates mobile and online banking features…

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The most innovative banks of 2015

I just attended the Global Banking Innovation Awards at the BAI Retail Delivery Show, an annual event that has gained traction and represents banks from all regions of the world.  Interestingly, Poland, Spain and Turkey regularly appear, which reflects my view that these are the most innovative Euorpean countries for finance, although France got a shout…

Product and Service

Can new banks keep up with old banks (Part Two)?

In part one I talked about bank systems, structures and people holding back innovation due to their legacy, and asked whether legacy structures could be migrated fast enough to keep up with the new guys?  The answer to that question is yes, because banks also have legacy customers.  That is why half the banks costs…

Can old banks keep up with new banks?

It’s interesting reflecting on my blog earlier this week from Blythe Masters speech on blockchain.  She mentioned the friction between the old system that works and the new system that’s being built, and how the two have to work together.  You have to migrate the old with minimum risk to the new, and the new…

Legacy

There’s a two-stream friction between old and new over blockchain, says Blythe Masters

I can’t attend every conference everywhere, but I have just found an interesting one I missed recently in New York on July 28.  This was American Banker’s Digital Currencies and the Blockchain Conference, previously known as just Digital Currencies.  It’s gained quite a lot of coverage, with a great summary of the whole day over…

Blythe Masters

Banks could change, but the regulator won’t allow it

I mentioned yesterday that a bank CEO asked me the three things I would do if I were him.  My response was: create the dream, live the dream, deliver the dream.  A bit cheesy, but you need to read the context if you want to know more about the background to this. He responded by…

Does anyone really think banks aren’t aware of the Fintech challenge?

I find it interesting that so many bloggers on Fintech deride the banks for being slow, clueless or stupid.  So many blogs talk about how banks don’t do this, don’t do that; fail at this, fail at that; have no idea, cannot change; are stuck in the past or have their heads up their arse. …

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