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Category archive: Banking

From restoring the past to creating the future

“Now that digital transformation is becoming mainstream it’s time to raise the bar”, Roger Peverelli and Reggy de Feniks argue. They just launched their new book ‘Reinventing Customer Engagement. The next level of digital transformation for banks and insurers’. In this blog, I interview Roger Peverelli, expert on customer engagement and innovation, on why customer […]

Banks are a better version of themselves thanks to fintech

The emergence of fintech companies is good news for banks, although many banks may see this differently. The general assumption was that fintech was a threat. But the opposite is true. New competition actually ensures that traditional parties take a closer look at their current services again, which means that banks now feel the need […]

Banks well and ready for PSD2 innovation surge

If you ask Gijs Boudewijn, deputy director of the Dutch Payments Association, payment processing will become increasingly automated in the future and will become part of a seamless user experience following the formal implementation of the new Revised Payment Service Directive (PSD2) next year. And this is just one of the many changes we can […]

How PSD2 will get banks out of their comfort zone

The Payment Services Directive 2 (PSD2) will affect the banking world starting in 2018. Traditional parties wonder whether this European legislation means the end of their share of the payment market and the start of a new era for new players. On the other hand, the new legislation seems to offer opportunities. But where is […]

Collaboration with fintechs is key for the future of banking

The evolution of fintech means the end of traditional banks. That’s the eerie message of entrepreneur Mike Galarza recently on Fintech Weekly. According to him ‘banks are not going to be washed away overnight by an army of fintech firms that are still, as yet, unprepared for regulatory responsibility. However, their industry is moving in […]

Banks and fintech; from fear of to need for each other

  They were supposed to disrupt modern banking, but in reality, financial technology companies are more eager to cooperate with banks, rather than to overrun them. The relationship between banks and fintech firms is much closer than just being each other competitors, according to the Wall Street Journal. It proves that the banking sector is […]

Sibos 2015: the banking industry should seek collaboration to innovate

If there is one message that resonates after four days of keynotes and panel discussions on various topics on payments on Sibos 2015 in Singapore, it would be this: the rapid emergence of new technologies forces the payment industry to change very rapidly. The central question is how banks can embrace these changes and regain […]

Tech companies are paving the way for banks to introduce digital wallets

With the new digital wallets Apple Pay, Android Pay and Samsung Pay the competition is heating up between Apple, Google and Samsung. The idea is to replace the physical wallet including all cards, coupons and cash money with a digital wallet. It sounds really convenient, but mass adoption is just still not happening. How can […]

Explaining instant payments in eight questions

Various initiatives are taking place in Europe to implement instant payments. For example, the UK, Denmark and Sweden are in the forefront of these developments and Dutch banks have agreed to set the target for instant payments on 2019. Within the next four years they have to build an infrastructure that enables payments to be […]

Defending the B2C segment in a virtual world

In my previous blog, I spoke about the opportunities SEPA offers to the traditional payment world by joining forces and staying ahead of new market entrants like non and near banks and social media networks. One example I gave in this respect is real-time payments. Action is needed, especially because the main threat for the traditional […]