Next Bank Asia – Delivering to the Customer

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Today in Singapore we’ve had a gathering of a collection of real innovators and disruptors in the financial services and customer experience space. The line up at #NextBankAsia was a bunch of strong influencers in the space including: Scott Anthony @scottdanthony James Gardner @bankervision Richard Kelly and Andrea Kershaw from @IDEO Neil Cross from @Microsoft [...]

US Banks wasting Billions on preventable fraud

The US is enamored with outdated and costly modality that is costing Billions in lost revenue and fraud. While many argue the business case for moving to technology like EMV or NFC is hard to justify, the reality is it is incredibly simple to justify based simply on mathematics around today’s massive cost of fraud. [...]

Curse of the Innovator

Recently we’ve been discussing at many organizations what it takes to get innovation done in large businesses with embedded behavior and practices. One side of the coin is obviously the impact of Disruptive Technology, but the other is purely the issue of Innovation Management or creating an organization that embraces or assists innovation. In a [...]

What innovations will rock our world in the next 25 years? #Innotribe #SIBOS

As preparation for my SIBOS Long Now Innotribe sessions next week I’ve been talking to lots of geeks, thought leaders, bloggers and innovators about what comes next. This is by no means an extensive list, but here are a few of the disruptive innovations that are coming our way in the next couple of decades [...]

Coffee Shops as an economic indicator for innovation

I spend a lot of time in coffee shops writing these days. I don’t know why, perhaps many of you have experienced this, but I seem to have a very productive time writing when there is the smell of fresh coffee, the sound of cappuccino machines and the white noise of the coffee crowd to [...]

Innovating the Bank that’s too Big to Change

As I tour the globe talking to banks and other financial institutions, the issue of how to make the migration to a truly customer centric organization is often agonized over. While many are keen to see that goal, there are just as many who feel organizational inertia and long entrenched silos are just too significant a hurdle to circumvent.

In this post, I try to tackle practical ways to put together real customer-centric innovation…

Social Media and Bank Compliance Departments – Eternal Enemies?

This is the dilemma. Today there are those of us trying to improve customer experience, knowing full well that compliance departments are citing risk mitigation, regulations and laws, bank policy and procedures, and other such issues as reasons why innovators can’t release a new mobile app, engage in social media conversations in real-time with customers, and so forth. In the meantime, there are existing processes, procedures and systems that are far more riskier than things like social media, but they are immune to the compliance department’s gaze because they are already in place.

What is riskier? Participating in the social media conversation and doing something within the guidelines established, or doing nothing for fear of the possible risks associated with real-time responses to clients in the online world?

BANK 2.0: Too big to change?

Reformists and regulators in the US, in the EU and in other jurisdictions are grappling with the problem of massive banks and how their financial health is tied up with the very vitality of the economy. This happens because as the banks are so large and represent a major indicator of the health of the stock market, and thus the macro-economy, it is possible that one of them went under it would have deleterious effects on the economy at large.

But banks are struggling with a new challenge. Are they too big to innovate, to change, to improve life for the customers that are their lifeblood? It appears so…

Lessons from the failed Facebook exodus (HuffPost)

The 1st of June was supposed to be “Quit Facebook Day” as a protest over Facebook’s privacy policies. But the 1st of June passed by and as far as I am aware, none of my friends quit facebook on Monday. It turned to be much ado about nothing…

Bank 2.0: Innovating the customer experience pays dividends – literally

No one could deny that banks have had a tough time of it when it comes to stock market valuations over the last couple of years. The global financial crisis, massive debt and NPL issues along with punishing public opinion led to a massive collapse in banking stocks and company valuations in recent times. It would be simple to blame the sub-prime and global financial crisis as the sole cause of all the ills to the banking sector, but I have a different theory which explains a large part of the picture.

Their innovation capability and customer experience sucks!

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