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Open Banking: what it is, how it works and why invest ASAP

mjvinnovation

In this movement, the term Open Banking becomes a promising reality. In this article, we will demystify and simplify the open APIs concept for banks. Keep reading to see what benefits are for banking institutions, their customers and more! The banks’ challenges with Digital Transformation. What is Open Banking.

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Innovative Businesses Prioritize Creativity

Daniel Burrus

Most notably, older organizations are the ones that place creativity in one column and positive disruptions via innovation in another. For example, Citibank started as the City Bank of New York in 1812, making them over 200 years old! Let’s go back to our example of Citibank, for instance.

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The Risks of Sticking with Legacy Technology

Daniel Burrus

Legacy technology is like that old pair of jeans you wore as a teenager. Move that anecdote onto a larger stage and you have a fairly accurate picture of why many organizations hold on to legacy technology—tools that are long outdated: comfort. In a world of exponential change, legacy technology is trouble. Compliance penalties.

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Consumers Driving Technological Change in the Financial Industry

Daniel Burrus

The financial services industry has been notoriously slow to adapt to the evolving technology landscape and its customers’ digital demands. In yet another twist to a modern tale, it was recently revealed that it was consumers who were leading yet another round of disruption in the banking and insurance sectors.

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Tart-up or Start up? Two innovation strategies for established companies

Idea to Value

Different appetites for disruption. Established companies have a cash flow from their current business, assets or goodwill to mortgage, a proven record with banks. They can lead to cost leadership. Such incremental innovation strategies have characterized Toyota, Honda, Faber-Castell and HSBC bank. Tart-up strategies.

Strategy 126
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Fostering Innovation with Technological Solutions – Part 1

Wazoku

What might the link be between Barcelona, fostering innovation with technological solutions and organisations looking to give the people what they want? The series opens by considering how organisations are using various technology solutions to tackle everything from continuous improvement through to grand challenges.

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The Dangers of Legacy Thinking

Daniel Burrus

Legacy Technology—Dangerous but Also Diverting. Legacy thinking has a better-known cousin—legacy technology. The issue of legacy technology is old news—in more ways than one. As you probably know, legacy technology refers to old forms of technology that are simply no longer optimal. Legacy Thinking Defined.

Agile 63