How American Express Digital Labs Creates Payments Innovations
Lesson One: Don't be an ivory tower of digital banking tech. Lesson Two: Don't be afraid to partner with a leader instead of butting heads.
Lesson One: Don't be an ivory tower of digital banking tech. Lesson Two: Don't be afraid to partner with a leader instead of butting heads.
The payments market was disrupted by the Covid pandemic in some major ways from AI to blockchain to fintech partnerships to digital currencies. Here's how American Express navigated it from its AmEx Digital Labs executive vice president Luke Gebb.
Willingness to act when the outcome is unknown and to look for options on 'the edge of money' are crucial for financial institution growth.
Innovation and differentiation in banking requires a receptivity to change. It also needs a readiness for new analytics software, technologies and advanced skillsets, says Jason Heinrichs and JP Nichols, both of whom are the co-founders of Fintech Forge and the Alloy Labs Alliance.
Some experts believe being innovative is more critical than the customer experience. Both pro and con arguments provide key insights into banking's future.
Innovation is taking the stage for many banks and credit unions, but the digital maturity is still lacking. What still needs to be done, asks Sanat Rao at Infosys and Miguel Rio-Tinto from Emirates NBD?
Deep cultural forces keep innovation bottled up at too many banks and credit unions. Several core truths will help unlock the potential.
Moving ahead with digital banking projects during a merger integration is tough. But the consequences of not doing so are far worse.
Customers increasingly seek a frictionless experience. This growing demand has sparked the launch of one-stop financial ‘super apps’.
Acting Comptroller draws parallels between booming blockchain-based currency businesses and innovations that ushered in the Great Recession.
Few in banking would deny the importance of innovation. Yet many institutions fail to make changes that produce results. Here's why.
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Building on the momentum created during the pandemic, financial institutions are creating a culture of innovation as a way to differentiate.
Bank labs lost some of their cachet, but many are still effectively working out of the limelight, including Amazon's new payments lab.
Innovation is important in banking (especially in a digital banking world). But, arguably, even more important is navigating it with simplicity, says author and management consultant Jin Kang Moller.
Fintechs and neobanks are adding competition with fresh ideas as major players prepare to spend for share.
Are you struggling to navigate digital transformation? One of the best people you can learn from is here: Michael Ruttledge, chief information officer at Citizens Bank. Michael joined Infosys president Mohit Joshi to discuss it.
Citi's former chief innovation officer Amy Radin (now the founder of Pragmatic Innovation Partners) emphasizes the power of an innovative culture in banking.
Innovation in banking is required to respond to customer needs and competitive changes faster and with greater effectiveness.
Chief Digital Officer Dominic Venturo details how U.S. Bank stays ahead of rapidly changing digital technology and consumer preferences.
Former Amazon exec John Thomas, EVP/Global Innovation at TD Bank, says most financial institutions approach innovation backwards.
Real innovation improves the bottom line but too often labs turn into showpieces to wow shareholders, investors and the media.
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