Payments News

On The Web

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Use

Opinion: It’s Not Technology That’s Disrupting Our Jobs

“The history of labor shows that technology does not usually drive social change. On the contrary, social change is typically driven by decisions we make about how to organize our world. Only later does technology swoop in, accelerating and consolidating those changes.”
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Use

Banks are treating customers like product developers

“Last week, U.K. challenger bank Monzo rolled out “Monzo Labs” — a feature within the app that lets users test new features as they’re being developed. It’s part of a trend to release product iterations to an ever-larger number of users — a necessary move to keep pace with changing expectations as the businesses scale quickly. Any Monzo […]
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Global

What developing countries can teach America about banking

“Countries like Kenya and Vietnam have been leapfrogging the US. While tens of millions of Americans remain unbanked or underbanked, these countries are rapidly developing modern financial systems, introducing millions to services previously unavailable to them.”
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Use

It’s All About Business Model Innovation, not New Technology

“Surveys show that most executives agree, and in fact, many believe that business model innovation is even more important to their company’s success than product or service innovation. But other studies have determined that no more than 10% of innovation investments at established companies are focused on creating transformative business models.”
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Providers

Innovation in Retail Banking – A decade in review

“Over the years, there has been a growing realisation in banking towards innovation as the proven path to differentiation and competitiveness. While the transformation has been slow, over the last decade the industry witnessed an increasing willingness to discard the traditional short-term focus, functional siloes and risk-averse culture towards more meaningful advancements and open culture.”
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Providers

The Innovation Dilemma in Financial Services

“It will be increasingly challenging for banks to thrive just by optimizing the as-is when the entire industry is facing a growing level of uncertainty. Nonetheless, it is important for banks to manage innovation from a portfolio perspective, determine the potential impact of different types of innovation, and to balance risk among incremental, evolutionary and […]
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Use

In emerging markets there are no copycats, just budding entrepreneurs

“Despite my conviction about the model, the copycat word  —  short for replicating startups and attached to these ventures  —  annoyed me from the start. More than a term to describe a straightforward recipe to launch, I see it as an unconscious way to belittle an entire group of hard-charging founders and investors.”

On The Wires

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