Colin James is one of those people that has spent his life exploring cultures, religions, philosophies and human psychology, which makes him uniquely qualified to speak on the subject of motivation and drivers.
In this essay Colin looks at the drivers of the "banking culture" in the wake of the royal commission, and considers how culture in the workplace is one of the driving forces of performance.READ MORE
In this episode of the Smart Community Podcast, Shara Evans (Technologist, Futurist, Keynote Speaker and Self-Proclaimed Sci-Fi Geek) discusses her background, how she transitioned from technologist to futurist, and what sparked her interest in the Smart Community space.READ MORE
The world of crypto currency is exciting, fast moving, and still a bit risky in terms of valuation, hacking of digital wallets and exchanges or losing your password (and access to your crypto account). In spite of these risks, early products such as Bitcoin, Ethereum and many other digital currencies are currently being used or trialled around the world.READ MORE
The housing market has hit the wall.
After years of unrelenting strength, house prices are dropping. Not by much, at this stage, but the heat in the Sydney market in particular, has suddenly turned cold.
The fascinating and scary thing is that the price falls are increasingly widespread.READ MORE
Property on the blockchain? Smart contracts and bitcoin-like management of decentralised property ownership is coming. And that's just the start.
Although consumer demand has driven the widespread adoption of online real estate listings, the mechanisms and processes of real estate have gone largely unchanged for decades - or longer.
That's all starting to change.READ MORE
If you ask a banker what the biggest threat to their industry might be, the answer would likely be "blockchain"... the ominous-sounding technology that powers cryptocurrency and is proving something of a headache for banks trying to innovate their way out of the red tape of the past.
But that's only half the story...READ MORE
It seems almost counter-intuitive that big-data could help financial services be more human, could connect them to the emotional needs of their customers. As banks strive to get away from their image as cold, unfeeling entities, the truly future-proof fintech thinkers are looking beyond demographics to solve the problem of a digital entity trying to understand the analog heart.READ MORE
We know that the future of work is changing, and for the ellusive 'millenials' motivators that worked in the past are quickly losing power. So how do you motivate and satisfy the needs of and get the best from this creative group who are so essential in our workplaces?READ MORE
There can be absolutely no denying it, the way that the world works, relates, spends and saves money has fundamentally changed. This represents a huge opportunity for banks, financial services and anyone in the customer service space to start designing for the future. In this video-clip banking innovator, cofounder and president of Moven, Alex Sion introduces the 'new possible'. It's time to design a new North... are you ready?READ MORE
Scott Bales is a leading tech innovator. This video-clip covers one of the ideas at the heart behind Scott's newest book Innovation Wars: Unlocking the Secrets of Corporate Innovation.
How do banks and financial services break through the 'fear barrier' to design innovative products and services... and survive?READ MORE
At a time when consumer dissatisfaction with banking is at an all-time-high, the financial services industry has come to realise the need to innovate or die. With social services encroaching on traditional banking services and internet banking changing the role of the bank teller in society, there is one voice which has come to dominate the conversation about banking's future.READ MORE
To respond to the ever growing demand amongst my clients, I'm launching my new book Innovation Wars, with the pre-orders starting on May 2nd. After the success of my previous book Mobile Ready, I've chosen to partner with Publishizer to build the support to produce an amazing innovation tool. You can pre-order the book here.READ MORE
2015 marks the 100th anniversary of ANZAC, 100 years since our troops landed on the shores of Gallipoli. Matina Jewell served as one of six Commissioners on the ANZAC Centenary Commission alongside former Prime Ministers Bob Hawke and Malcolm Fraser. In a 100 second interview we ask Matina her thoughts on the ever changing world of finance.READ MORE
Recently, I had a meeting with a large finance firm. One of the senior people opened the discussion with:
“What I thought I would do is give you a bit of a lay of the land, so that when you step up to the plate, you will have an understanding of the arena and the context in which we are playing in here. Because at the end of the day going forward, what we need to do is to all sing from the same song sheet. I’m not talking about going after the low hanging fruit here, but I really think we need to think outside the box. Because until we get the buy-in of all the stakeholders, we are going to find ourselves falling back into the old patterns of play.”READ MORE
There can be little doubt that we human beings, on the whole, dislike change.
No finance union, for instance, have ever threatened to take strike action until their members annual leave entitlements were not replaced immediately with ‘a bit of a change’. In fact, doing so would probably lead to strike action… or worse.READ MORE
As 2014 draws to a close, it is time to think about your business, your personal financial plans and how trends in the economy might impact you in 2015.
Without understanding the intricacies of the economy, including what sectors will be strong, where interest rates might be going, what will happen to the Australian dollar or housing or consumer spending, there is a risk that an opportunity will be missed.READ MORE
The Australian economy is creating jobs again.
The big questions are where? How many? And will it last?
Before we get to those sorts of specifics, it should go without saying, but the best thing to generate jobs and lower the unemployment rate is a growing economy.READ MORE
In a recent UN/ICAO commissioned survey on the use of signatures in passports, a number of countries including the UK recommended phasing out the long held practice because it was no longer deemed of practical use. More significantly, however, is the emerging trend that has some parents, educators and lawmakers espousing their concern - when asked to sign most kids these days are simply writing their name - the art of the signature may soon be a lost art. A recent report in Gulf News disclosed that this is a global problem with kids in Canada, Tokyo, Hong Kong and elsewhere moving away from written signatures because they live their life through technology, but without the need to sign.READ MORE
Brett King is a globally renowned speaker and expert on shifting trends in banking. Technology & IT trends are the two biggest disruptors in finance, and the shifting demands of consumers is ensuring that further evolution in how banks interact with their stakeholders, via websites, apps and wearable tech, is absolutely vital for their survival.
In this blog post, Brett outlines the ways in which banks will need to evolve their IT / technology strategy to ensure they keep their customers engaged.
In 5 Years, 50% of revenue will be digital but where’s the revenue going to come from?READ MORE
Budget, Budget, Budget. That is the word occupying the minds of economist, CEOs, parents, working mums and students alike. But as the results from the commission audit are released, Stephen Koukoulas gives us an insight into just how the government will come up with these figures and his take on what this means for the average Australian.
In light of the humbug of the 'budget never returning to surplus unless we cut the tripe out of spending', I though it interesting to revisit the sensitivity of budget forecasting to small changes to the economic parameters.READ MORE
House prices are moving into very dangerous territory.
They are rising so fast and are moving to a point where there is a very real risk of a situation that spills over to poor borrowing decisions, relaxed lending standards and financial market malaise that would threaten to end Australia’s multi-decade economic expansion.READ MORE
Everywhere you look right now, there are carriers trying to muscle in on the mobile wallet and payments space and rightly so. There are already a plethera of mobile carriers fully engaged in mobile payments right now, from Safaricom in Kenya, Orange (with Barclays) in the UK, the list goes on.READ MORE
The core problem with credit cards today for consumers is that they are fundamentally designed to encourage spending, in order to generate revenue for card companies and issuing banks. While debit cards are marginally better for consumers on an interest rate perspective, the lack of visibility on spend and overdraft fees means that in the US the average consumer pays $225.00 in fees per year on a debit card/checking account – that includes all those “free” checking accounts, which are anything but!READ MORE
I was in India a few weeks ago speaking to the Reserve Bank and most of the primary Retail Banks about the impact of mobile and social media on the industry there. .
Enshrined in the banking culture and in bank regulations is the perceived 1:1 relationship between branches and Financial Inclusion. This is not unheard of in developed economies either, but in India it is so much a part of the culture that no one has rethought this paradigm in a very long time. The assumption simply is that if India wants inclusion, it needs more branches.
India has just 110 branches per million persons, compared with the USA which has more than 300 branches per million persons, and Spain which has an incredible 900 branches per million persons, with the next nearest in the EU being Italy with 650/mm.
In most developed economies the CAGR of aggregate number of bank branches is -2% to -4% annually these days, and is trending towards a steeper decline. Some economies like Australia have been slow to start this decline, but a normalized range of branch density for most developed economies probably is around 100-150 branches per million.
I know this in itself will generate much debate, but bear with me here.READ MORE
The world over we hear experts talking about the need for green, but none quite like Andrew Winston, who looks at the financial gains to be made by turning ‘green’ to gold! In this article Andrew outlines the biggest dangers threatening to rattle the financial industry for good.READ MORE
There is no doubt that strategies around mobile banking are in the top five priorities for any financial institution. Even with this focus, many bankers have a difficult time making the paradigm shift that is required to build a great mobile banking application.READ MORE
Neural Latency Intellisense
Investment banking as a sector looks to have a much more positive outlook this year than in previous years. The year will see the implementation of a lot of the regulatory changes formulated since the crisis hit, and a marketplace that is starting to settle into the new normal, whatever that is.READ MORE
Drive Innovation In Banking
How increasing humanity in the financial sector is key
I was recently fortunate enough to be speaking at the Business Banking Innovation awards hosted by Australian Financial Publications and what struck me was how innovative the big four banks, traditionally portrayed as slow moving, actually are.READ MORE
Why Financial organisations that work together do better
Ever come to the end of the week, looked at your in-tray and thought 'gee, I could really use an extra day this week'? Well, according to the global CEO survey, workers in knowledge organisations spend up to 25% of every day looking for information. Twenty-five per cent.
So there's your extra day, right there!READ MORE
Stephen Koukoulas is one of Australia’s most respected economists. His background covers the spectrum of economic insight - from his role as Chief Economist of Citibank to Senior Economic Advisor to the Australian Prime Minister.
In his latest article Stephen argues against the widely held belief that first homebuyers are being priced out of the market, showing us (and Bridie at The Guardian) that with a little frugality and some more realistic expectations, your first home isn’t just a dream.READ MORE
There’s no doubt about it, with $32bn expected to be ringing through the tills by Christmas, we sure know how to buy!
Whether it’s gifts for loved ones, treats for the Christmas table, or something special for ourselves – why we buy what we buy is the billion dollar question retailers puzzle over each year.READ MORE