News & Views - Savantor

New sources for solutions

Monday, 09 February 2015
More and more we are see financial institutions supporting - or outright running - competitions or events to try to identify and acquire new, innovative and beneficial ideas or technologies from an underutilised market - anyone interested in making a proposal. "Hackathons" and short-turnaround competitions are being used to attract new ideas (and more importantly, people that are able to formulate them) into finance in an attempt to energise an often slow-moving industry when it comes to technological evolution. Now it seems it is the turn of The Bank of England, which is looking at new ways to represent its historical archive of figures and statistics. Most of the time, the existence and results of these events don't make headline news - but they are becoming increasingly common as a broad acceptance comes over the industry that the relatively small pool of traditional providers cannot deliver innovation at the rate that new technology continues to become available. To be fair, trying to keep up with technology these days is always going to be a losing battle. Payments are evolving on many fronts from trying to expand the use of traditional payment instruments to inventing new payment methods and new currencies. However, this new tendency to look in new places for solutions may be of some concern to the existing players and therefore, ironically, the payments industry itself. As its key partners come under threat in other markets, there must be some unease with a potential risk to the long-term viability of the core platforms they provide. At the moment, this new trend seems confined to innovation in fringe areas of the market, but it is likely only a matter of time before it starts to be adopted in areas previously designated as a part of core processing capability.
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Idsert Walta, Head of Banking Categories - Nordea - Scandinavia

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Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

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Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

Interchange Review

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Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

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Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

Credit Risk Review for New Product Launch

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Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

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Michael Liquornik, Executive Vice President - Neovia Financial - UK

Commercial Card Migration

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Chris Mason, Director - Commercial Cards EMEA - Citi - UK

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