Capital One has released a survey of 151 fintech and payments innovators which they conduced at Money 20/20 a couple of weeks ago. Given this non-random sample of participants, it is probably not surprising that Big Data Analytics and Alternative Payments Platforms were the top two answers (at 27% and 26%, respectively) to the question “Which technology innovation will […]
Bank Innovation
Why Collaboration Matters in Banking
I spent most of this week at Money 20/20 in Las Vegas. The show continues to grow— 10,000+ attendees this year— and it continues to be a magnet for banking and payment executives, merchants, fintech entrepreneurs, investors, analysts and plenty of commentariat on all such things. With more than 550 (!) speakers at Money […]
In Search of Competitive Advantage
Next week I’ll be in Las Vegas for Money 20/20 the huge payments and financial services innovation conference, and as always I’ll be on the lookout not only for cool ideas and technology, but in particular those that can bring a competitive advantage for financial institutions. There will be a ton of content on […]
Innovation is More than the Next Big Idea
During the last 15 years, 47 fintech companies grew from startups to “unicorns” (valued at $1 billion or greater), with another 38 companies quickly approaching that level, as Jim Bruene posted to the Finovate blog. This has caught the attention of investors, who poured $12 billion of capital into the fintech space last year alone. […]
It’s Too Late, Banking Is Already Being Disrupted
Bankers may be taking undue solace in Chris Skinner’s April 10 American Banker BankThink post, “Like Airlines and Pharma, Banking’s Too Big to Disrupt.” I was party to the specific round of sparring he cites in his article over whether financial technology startups will overthrow the banking industry. And although I agree with many of Mr. […]
Traditionalists vs. Trailblazers in Innovation
Late last year I was asked by my good friend Jim Marous of The Financial Brand to contribute to his crowdsourced list of 2015 Digital Banking Trends and Predictions. My prediction was that we would see an increase in the current trend of banks investing in innovation. More newly-minted Chief Innovation Officers, and more establishments of new […]
5 Ways to Kill Your Innovation Initiative
I often write and speak about the “Business Prevention Department” that lurks inside banks. Devoted to sniffing out and stamping out anything that looks “risky”, the Business Prevention Department is staffed with members committed to “protecting” their banks from those scary people who want to try unproven ideas. As banks worldwide hurriedly launch accelerator programs, […]
Sorry, but Disruptive Technology WILL Kill Banks
Some of them, anyway. You just won’t read that on their tombstones. John Authers recently wrote an article in the Financial Times entitled “Disruptive technology will not kill banks” that was commented on by two people whose analysis and opinion I respect (Chris Skinner and Jeff Marsico). The subheading that read “Banking is too heavily regulated to be […]