Innovation

||Innovation

Defining Open Banking and How It Will Affect Financial Institutions

Vladimir Jovanovic, Manager, Innovation, PSCU Currently, there are many different definitions of open banking in our industry. Depending on the motivations of the reviewer, it can be defined as “an attempt to democratize financial data exchange by allowing access to a consumer’s banking and financial data.” Others will call it a “standardized approach to financial data exchange, where

Defining Open Banking and How It Will Affect Financial Institutions2021-05-14T14:49:28-04:00

Collective Intelligence: Collaborating with Digital Workers

By: Jay Lauer, Senior Innovation Strategist In his 2004 book “The Future of Work,” Thomas Malone, renowned organizational theorist and founding director of the MIT Center for Collective Intelligence, noted that new information technologies and inexpensive communications make it possible to distribute decision making more widely in organizations – supporting a shift from traditional centralized

Collective Intelligence: Collaborating with Digital Workers2021-03-11T14:56:59-05:00

Exploring the Potential Impact of Cryptocurrency on Debit – Part II

By: Lou Grilli, Senior Innovation Strategist, PSCU Part I of my exploration of cryptocurrency’s potential impact on debit and other forms of payments ended with a discussion of stablecoins, a cryptocurrency tied to a stable asset. In part II, we’ll look at a special category of stablecoin, one that is issued and controlled by the

Exploring the Potential Impact of Cryptocurrency on Debit – Part II2021-02-25T13:36:43-05:00

Exploring the Potential Impact of Cryptocurrency on Debit – Part I

By: Lou Grilli, Senior Innovation Strategist, PSCU As financial institutions explore the future of payments and real-time accessibility for their customers, the question has arisen: should cryptocurrency be considered a serious part of the conversation? The industry recognizes cryptocurrency as a relatively new form of digital currency, where monetary value is represented by a token

Exploring the Potential Impact of Cryptocurrency on Debit – Part I2021-02-17T13:22:10-05:00

Is the Shift Toward Real-Time Payments Inevitable?

By: Lou Grilli, Senior Innovation Strategist, PSCU Real-time payments (RTP), the first new payment format in 40 years, is gaining considerable industry traction, despite being in operation just a little over two years. While RTP technology is still relatively new and the volume of payments on the RTP network still pales in comparison to Automated

Is the Shift Toward Real-Time Payments Inevitable?2021-01-08T18:19:39-05:00

Faster Payments Doesn’t Mean Real-Time Payments

By: Lou Grilli, Senior Innovation Strategist, PSCU The term “faster payments” is popping up more frequently – not just in payments-specific trade publications, but in the mainstream media as well – as discussions focus on the need to send money to consumers and businesses directly, accurately and quickly in the digital age. Frequently, this term

Faster Payments Doesn’t Mean Real-Time Payments2021-01-08T18:19:42-05:00