Innovations in the Financial Services Market – Trends at the Finovate Asia 2013 in Singapore
Blog Posts11th December 2013
Finovate has firmly established itself as an important event for all those interested in innovations in the finance world. The last Finovate conference of the year took place in Singapore in mid-November. Thirty-six businesses presented their innovative products to over 350 participants from more than 30 countries in the typical 7 minute rhythm.
And yet it moves – Banks’ initiatives in the market for payment services
Blog Posts26th September 2013
Dr. Mirko Schiefelbein
It’s not news to anyone that innovative developments in the financial services market have an impact on the payment transactions segment. While six months ago the market was being flooded by attachable devices for smartphones and tablets, followed by the introduction of multiple apps targeting the payment transactions at supermarket tills, the next wave of developments already seems to be heading our way, only this time, the main initiators are actors who are rather new participants in the field of innovation: the banks.
Uncertain Banks – Main Challenges Lie in Regulations and Changed Customer Expectations
Blog Posts9th September 2013
The uncertainty among finance institutes is high. Despite the post-crisis environment of 2013, banks find themselves under increasing pressure to act. This pressure results, on the one hand, from the intensified regulations that aim to provide more security for savers and investors, but lead to heightened insecurity for banks. On the other hand, the pressure stems from the growth of innovators from non-banking and near-banking fields. Players who come with nothing other than their trust in the idea that small-scale approaches will function as well as heavy-hitters in non-banking sectors such as commerce and telecommunications are turning their attention to parts of the finance industry’s value-added chain and putting pressure on banks.