Five doses of inspiration from the worlds of #Innovation, #Futurism, #Finance and #Utilities — plus one company that is #bringingtheawesome.
- A landmark in the open banking debate
- Lighting the fuse of innovation
- Our groundbreaking project!
- Why payments are business model dynamite
- Putting a value on personal data
- Bud. — a lesson in the nature of disruption
Friday 22 June, 2018
#1 Do you really want to listen to a podcast on Open Banking?
“Open Banking” was starting to take on a Brexit-like drone — the same issues day-after-day, lack of vision, and an infuriatingly circular debate. Until this podcast.
Open Banking is so complicated in its grand vision that it’s often hard for the banks to pin down what to do next. Countless articles have struggled to articulate anything beyond, “this is a golden opportunity”.
But why? How? Without ways of moving forward, we continue to see a consultancy industry emerge out of the debate itself.
The well-chosen contributors on this podcast move the debate beyond compliance, and further towards what is to be done! Look out for Louise Beaumont’s brilliant “data-daisy” analogy at 49:10.
Open Banking 2.0 🎧 57mins
#2 How do banks ignite creativity
A megabucks industry like banking will always be change averse, but inaction is as dangerous as getting it wrong.
Think about it from the perspective of the Bank Exec: You’ve never had to deal with such existential challenges to your business model, shareholders aren’t helping, and the board don’t understand.
We get that you want to aggregate data, and we get that you’ve produced open APIs to common standards, but you need to start creating within this framework or you’ll be sleepwalking into oblivion.
This article describes exactly how banks should get started, encouraging small projects which can be turned over quickly into pilot projects and PoC’s.
These mini-projects ground abstract ideas in a concrete experience and rally people in ways that are critical to competing in the future; they turn skeptics into informed, engaged and active partners.
Hppn’s core philosophy in a nutshell. Read on:
Open Banking in Latin America Isn’t Waiting for Mandates — it Shouldn’t
📄836 words
#3 The big reveal…
We’re up and running!
We’d like to think the eyes of the aforementioned imaginary Banking Executive are on us, because they should be.
We’re conducting a project on Wednesday 27th, June in London, which will be run in collaboration with the RNIB, Veni-Loqui, Robot Mascot and FPCG — the kind of talent mix which we believe can strike at the core of radical design in banking.
We’ll be investigating how screenless, data-driven banking can build hyper-personalised, predictive, preemptive services which are accessible to all.
The result will be nothing less than a challenge to the sector. A glimpse of the future! A call to arms! Follow it on Twitter and stay tuned for the results.
“How am I doing financially?” 📄380 words
#4 Payments: Banking’s wayward offspring
The UK likes contactless payments, and every time we pay without cash we see our bank’s logo emerge from our pockets.
But it seems like we’re whipping our card out less and less.
As the following article describes, payments have evolved: Card-on-file, Uber, Amazon, subscription models, and most pressingly, mobile wallets, are all threatening to disintermediate banks to the extent where they become the invisible labourer in the bowels of the machine.
The solution for banks: If data is money and money is data, reinvent yourselves as a the most practical custodian of our financial data (here’s a freebie).
And then, banks need to design services which are data driven, ebbing and flowing effortlessly around us to help us understand and manage all of our invisible spending habits.
The Evolution of Payments & What it Means for Financial Services
📄2,409 words
#5 How much is your data worth?
When was the last time you heard someone say, “If you’re not paying, you are the product!”
This is true, but it’s a bit defeatist. As if the value exchange is all or nothing.
We keep hearing that our data should be thought of as kind of 2nd currency, but how much is it worth and what does this mean for the future of basic value exchange?
When you’re trading with personal data, how much do values like trust and transparency rise to the fore?
When this author suggests that if you use Facebook, you work for Facebook — we tend to agree.
Facebook Isn’t Free, We Pay For it With Our Attention 📄826 words
This isn’t business as usual: Bud. 🎉
Fragmentation then convergence has been the story of disruption since day one.
Emerging technologies blow the system to pieces, before it gradually reconfigures around more progressive answers.
Open banking represents this explosion of ideas, with countless fintechs vying for attention.
They tend to deliver their wares in different places, on different screens, on different channels.
Bud seeks to bring unity to the mayhem, providing a network and connectivity layer between the banks and the fintechs; thus making the vision of seamless experiences much more plausible.
Open banking… this lot wrote the book.
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Hppn does what now?
Hppn (ˈhap(ə)n) is a design and innovation agency. We specialise in anticipating evolving customer needs within the Financial Services and Utilities sectors, and then leading the creation of transformative products and services. So whether you want to build radical new products, make drastic improvements to processes, or explore the most difficult questions in your industry, we can help.
- Email: steve@hppn.co.uk
- Web — Hppn.co.uk
- Twitter — @hppnCo
