Archive for Innovation
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Competition will return in 2010. Will the major banks be ready for it?
Banks should innovate rather than hibernate in a crisis said ANZ head of online banking Sam Plowman back in March. Plowman has since moved on to a new role heading up the direct channel at NAB, the other of the aptly named ‘two stumps’. Australia’s banks have so far performed well in the...
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Hugo Schreuder, CEO of Youi on building a new insurance business
In this edition of the Banking Review Podcast, contributor Jen Storey gets inside the world of Hugo Schreuder who was tasked with setting up the Youi insurance business in Australia some two years ago. In this 20 minute interview Hugo discusses the challenge of moving to a new country to start a ...
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PayPal dances with developers to drive innovation
Back in July , following a discussion with Jeff Carter (who is back in Australia for this month’s Innovative Marketing conference), I asked : What if a bank were to open up development of applications to others in the same way Facebook does?The discussion Jeff and I were having revolved around the...
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Fee crackdown should drive innovation
They’ve done it in the UK, it’s headed to Australia, and they’re debating it in the US. Cracking down on bank penalty fees is all the rage in the developed world, as legislators ponder the fallout from GFC-induced industry consolidation. Reduced penalty fees from Australia’s major banks...
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The wrap from Finovate 2009 – where were the bankers?
It’s sometimes said that New York has its back to the water. Manhattan may be an island, but you can wander the streets and avenues of the city for days without ever seeing a glimpse of the water that surrounds it.Which is a shame, because it turns out the islands surrounding Manhattan are home to...
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Making P2P mobile payments a reality
News last week that Nokia is to launch a financial services offering enabling peer-to-peer mobile payments has many in the banking industry talking.The move is probably a greater threat to Western Union than it it to large banks, but it will push banks to more seriously consider the peer-to-peer pay...
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Let’s have a debate about bank account portability
Australia’s payments industry has dodged a bullet in the latest review of payment system reforms, but will need to continue to develop the EFTPOS scheme and M@MBO project if it is to convince the Reserve Bank to step away entirely from interchange fee regulation.Although the industry has revived M...
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Flycke prepares to take on BPAY
A new payments start-up using the billing system of the Centricom-owned POLi is preparing to take on BPAY.Flycke general manager Anthony Johnston told Online Banking Review the group will launch “in the next couple of weeks” and is currently in talks will small and large billers from the Governm...
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Payments the new competition battleground in banking
Today’s announcement by Woolworths that it is to move into mobile telco services with Optus paves the way for the retailer to offer debit and/or loyalty card products via mobile devices. It’s no secret that Woolworths has ambition to issue more cards, and since it wound down its EzyBanking r...
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Online communities & innovation
For the past six months Suncorp has been growing and nurturing an online community with the help of research house, Colmar Brunton. The Suncorp online community operates with a closed membership of around 300 current and potential Suncorp customers.“The online community has been fundamental in shi...
