hernaes.com

Innovation – Finance – Technology

Author: Christoffer Hernæs

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Challenger banks are having challenges on their path to profitability

There has been no shortage of challenger banks competing for the customer’s attention in the past decade. However, it is far between the ones that manage to turn a profit. As capital becomes more scarce, and valuations are declining, challenger banks with no clear business models other than nifty features and a niche target audience, are facing a bumpy road ahead.

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What is the consequence of doing nothing?

Challenging the status quo is one of the hardest part of leading change. In a time when as good as all industries are facing radical changes over the next decade, innovation is necessary for survival. However, all too often, organizations and leaders are stuck in a “wait and see” mode. Rather than taking a leap of faith into the unknown, incumbents all too often find themselves on the steady decline into obsolescence by doing nothing.

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Facebooks grand push into cryptocurrencies will likely never see the light of day

Facebook’s digital currency Diem, formerly known as Libra, has faced a lot of controversy since it was announced a couple of years ago. Now it seems like it will never materialize beyond the headlines. Facebook/meta may have unprecedented distribution power, but that was not sufficient to realize this larger than life crypto project.

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The innovator’s guide to leading change

Ever since I wrote my master’s thesis on innovation capabilities in established companies, I have constantly been on a mission to understand how to lead real change and push the innovation agenda from an incumbent standpoint. Looking back at the combination of my theoretical background combined with several years of practical experience, I will try to summarize some of my experiences in a short and hopefully sweet playbook for corporate innovation.

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From open banking to open finance – what to expect?

Of all the trends and technologies predicted to change the landscape of financial services, open banking has proven to be the most transformational. Even as the dust has settled after the implementation of PSD2, leading banks show no sign of slowing down their efforts towards an open banking future. With another regulatory push toward open finance looming on the horizon, how should financial institutions prepare to stay ahead of the curve?

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Hvorfor er teknisk gjeld et problem og hvordan løse det?

Teknisk gjeld – gamle IT-systemer som må oppdateres og forbedres for å ikke falle sammen – har lenge vært et sentralt tema for enhver IT-avdeling og ethvert utviklermiljø. Du er ikke digital bare fordi du har lansert en app, og dersom du beveger deg for raskt i kundegrensesnittet uten å samtidig adressere underliggende teknologi vil du til slutt møte veggen. Hva er egentlig problemet, hvorfor ender så mange opp der, og hva skal til for å løse det?

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Seven trends shaping the future of payments

It has been a decade since I first embarked on my journey down the payments rabbit hole. Since then, the predicted disruption of payments as we know it has proven to be more of an evolution than a revolution. With that in mind, even though there have been massive shifts in the payments space, the most exciting times are yet to come. Here are seven trends that will shape the next phase of payments evolution.

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Er bankboksen død?

For bankene representerer en digitalisering av bankboksen en gylden mulighet for å skape nye digitale inntektsstrømmer ved å gjøre bankboksen relevant for en digital tidsalder. Det viktigste konkurransefortrinnet for en tilbyder av en slik tjeneste er tillit, og norske banker er velsignet med svært høy grad av forbrukertillit. I motsetning til tradisjonelle banktjenester som i stor grad er nasjonale av natur strekker både behovet og vekstpotensialet for en digital bankboks seg langt utenfor nasjonale grenser. Muligheten er der, og dersom bankene selv ikke ønsker å gripe den, så er det neppe mangel på lovende fintech-startups som ønsker å ta denne posisjonen.

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