As the following examples demonstrate, regulators and policy makers in some markets drive changes to support startups and companies that work to charge less. They do a terrific job of fostering innovation and what I call creating #REALVALUE. According to FIS, India has cultivated one of the world’s most evolved, sophisticated public digital payments infrastructures since Read More
Innovation is a priority for most financial services companies and, more than ever before, innovation needs to be broadly defined. The reason is simple: Innovation isn’t limited to technology advancements or just fintech. Innovation is so much more than that and is driving major change in this industry. An excellent piece in the Harvard Business Review by Read More
Though often debated, innovation is seldom clearly stated. That’s what happens when buzzwords land in an industry and become en vogue to invoke. But at least if you start down the path, it helps to know where it’s headed. And here it is, as simple and straightforward as it gets: “True innovation,” says BAI President and CEO Read More
What must we keep front of mind about innovation? I’ve asked myself that question many times. If we’ve learned one thing at BAI from seven years of recognizing financial services companies in our Global Innovation Awards and our work in this arena, it’s this: Innovation can’t be pegged to a single project or activity. Nor strictly speaking is Read More
“We’re all dreamers in this room.” So Suvo Sarkar, Senior Executive Vice President and Group Head, Emirates NBD, declared to a capacity crowd at the Georgia World Congress Center. And if prestige as a leading global financial services innovator is where dreaming leads, Sarkar stood in good company. Sarkar, one of the winners at the BAI Read More
The BAI Global Innovation Awards program has fielded thousands of submissions over its seven-year history. It's given BAI president and CEO Debbie Bianucci insight as to what true banking innovation looks like. While fintech may be an innovation driver, it's far from the only one. On this podcast, Bianucci discusses the many facets of banking innovation, from Read More
So much of what happens in our industry today boils down to this popular conclusion: Innovation equals fintech. To be sure, the buzz that surrounds artificial intelligence, chatbots and machine learning is understandable. And at first blush, the dollar figures surrounding fintech seem to support its primacy as innovation’s driving force. Forbes, for example, reports that in Read More
As of November, BAI’s hometown could finally call itself home of the defending World Series champions, the Chicago Cubs. It took us 108 years to get there and to put that in perspective, the drought dated back to 1908, well before BAI’s founding in 1924. I’m a proud Chicago native and to say we’re still savoring our Read More
On this episode of the BAI Banking Strategies podcast, we're joined by Miranda Hill, director, innovation and commerce strategy at ThoughtWorks in Seattle. Miranda discusses the key attributes that make for successful fintech innovation, as well as what she hopes to see from nominees for the BAI Global Innovations Awards. From the podcast: Miranda Hill is Read More
We’re now accepting nominations for the 2017 BAI Global Innovation Awards. Wondering what will get your nomination noticed? Watch awards judges Matt Calman and Steve Monaghan discuss innovation and what they admire in innovative companies.
On this episode of the BAI Banking Strategies podcast, we talk with Conny Dorrestijn , CEO of Shiraz Partners and based in the Netherlands. Conny talks about Europe's instant payments landscape, and how banking innovation leaders are divided into three categories: optimizers, transformers and disruptors. Conny recently authored an article, Five characteristics to look for in your Fintech Read More
Fintech is hot, so the world tells us: VCs and private equity (PE) firms, large IT companies and a wide range of start-ups all agree. A cynic, however, would say that two worlds could hardly stand further apart: innovation vis-a-vis banks and insurance companies. A financial services organization by its very nature has a long-term view on Read More
In an age of FinTech challengers and big data challenges, it's now a given that banks can no longer stand still. Yet how they can respond creatively remains a puzzle many financial services organizations have struggled to solve. So when banks across the globe devise and implement practical solutions to perplexing problems, it results in templates that Read More
It may be tempting for Americans to assume major societal advances in banking start here in the U.S. However, some of the most empowering solutions originate elsewhere. Case in point: Turk Ekonomi Bankasi (TEB), headquartered in Istanbul, has emerged as an example for banks here and abroad to follow in making a positive impact. As the Innovation in Societal Read More
Mizuho Financial Group, Inc., Alior Bank S.A., CaixaBank S.A., and DenizBank were selected to receive special honors as finalists of the Most Disruptive Innovation in Banking Award at the recent BAI Global Innovation Awards, celebrating the world’s leading financial innovators. Nominations for the 2017 BAI Global Innovation Awards will be open soon. To learn more about the program Read More
Debt collection marks one of those challenging areas for financial services organizations, and here’s why: The high-tech advancements that have bolstered other areas of banking, such as chatbots and mobile deposit capture, haven’t always made the impact this specific niche needs. And that adds up to a pain point, not just for the banks but also for Read More
For all the energy banks expend to make their risk modeling strong, customer enthusiasm, at best, has been weak. For starters, the average consumer couldn't tell a risk model from a runway model; it's by and large a behind-the-scenes matter they neither know nor care about. But here's what they do know: Typically, a bank’s red tape Read More
WSFS Bank, CBW Bank and America First Credit were selected to receive special honors as finalists of the Most Innovative Community-Based Banking Organization Award in the 2016 BAI Global Innovation Awards, celebrating the world’s leading financial innovators. Nominations for the 2017 BAI Global Innovation Awards will be open soon. To learn more about the program or 2016's Finalists Read More
Is the password dead? Perhaps not, if you’re a kid trying to get past the door of a secret clubhouse. But in the adult world of banking, the password is nearing the end of its useful life. Trouble is that high-tech hasn’t quite driven the last nail into the coffin, even at a time when hackers are Read More
Enlisting the real-life equivalent of C-3PO, with his true-to-human behavior and unfailingly polite banter, may still be some years away for the world's banks. But in the meantime, the Japanese retail and corporate banking company Mizuho Financial Group has enlisted an innovation as incredible as it is lovable: Pepper the robot. First introduced at Mizuho's flagship branch Read More
