Author: Aden Davies

Curated By…an event at the Sheffield Hallam University Graphic Design Department

 

Curated By is an event organised by Sheffield Hallam Universities Graphic Design Department. They bring together a small group of people in the design field and give them 30-40 minutes to entertain and inform the crowd of mainly horrifically young students and to a lesser extent middle aged people like me. I went to the first one earlier this year where Jack Schulze of Berg stole the show.

The second event was inspired by one of Jack’s slides from his talk. It showed Richard Dreyfuss in Close Encounters of the Third Kind in front of the model of the mountain. The quote on the slide read ‘He had to make it because he had no other means of communicating what it was’. The day was about making things, the makers of things and the materials for making.

 

dreyfuss

 

There were five speakers. Joe Malia of Berg did an amalgamation of stories about Berg creations, their ways of working and more interestingly (I have seen the excellent Berg stuff quite a lot) a history of computing taking in the Lincoln Lab at MIT, The tech model railroad club, the donation of a computer to said club and how they hacked away at it to see what it could become. People like Ivan Sutherland who were pioneers at creating the first computing interfaces such as light pens, Doug Engelbart and his infamous mother of all demos where he showed word processing, the mouse and keyboard, video conferencing, the internet and collaborative editing in 1968 way before most people had even seen a computer. He talked of how these hackers had brought about the home computing revolution, showing a clip from the Jobs biopic showing Steve Jobs and Steve Wosniak having a heated debate about if normal people would ever use computers. Of course if you make them less like computers and more capable for normal people to use them to make things it turned out they would certainly use them.

 

Patrick Bergel of Animal Systems and one of the creators of Chirp talked about our interest in the visual over the audio, people would love to understand the great painters rather than the complexity of birdsong. Chirp allows data to be passed over the air via a series of beeps and chirps inspired by birdsong.

 

Max Whitby of Touchpress showed off some very beautiful iPad apps that visualised the periodic table, the films of Disney, the sonnets of Shakespeare etc. but his talk lacked much explanation into how they were built more just ‘here is a series of beautiful things look at them and marvel’. Well worth checking out the apps but as a talk I did not find I that engaging.

 

The best two talks of the day by some distance came from Brendan Dawes and Kate Moross

 

Brendan is someone I saw talk a few years ago and he was hilarious and inspiring. He has not got any less funny in the last few years and his work is still brilliant. He spoke of his history with computers and the day his dad brought home a Mac. His amazement at Photoshop and this machine that had basically pushed all the computer stuff backwards and allowed the creativity and capability of the deice come forwards.

He talked of his sadness that Photoshop had gone from a simple and powerful beauty to this bloated beast of today ‘Like if you only knew Elvis during his fat phase’. This failing of tools made by others lead him to make things that made things. Digital tools that helped him solve specific problems that he had. He had progressed beyond Paintshop and making things with the likes of Processing and using data as his main material.

He was scathing of creativity courses that sent middle managers off to axe sharpening courses when they should be learning to code and make using the machines of today. Nostalgia is fine to a point but we should only be slightly influenced by the past not bullied by it. Looking back fondly to a time when making things with metal and wood was the norm, yearning for the physicality of Polaroid cameras when you have these new amazing machines in front of us that we have only scratched the surface of their capability.

He also spoke of how the tools he made and the materials he used were inspired by nature, the mathematical patterns found in things such as sunflowers and what is known as Fermat’s Spiral or as Brendan called it Vodel Spiral. Using data to form similar patterns but in a controlled way, he called it randomness but within constraints.

 

Brendan Vogel

 

One example shown was a series of concert posters that had a simple pattern that represented cities. They were created by algorithms and the digital forms were then printed in analogue methods which added a uniqueness to them as the screen printing process added the effects of ink on paper. Other examples shown included weaving Shakespeare quotations with news stories of today, the beautiful digital city portraits produced for EE, A data visualisationon the number of kills each James Bond made, A move into the physical realm with his 3D printed work around algorithmic shapes to represent musical forms, and making simple machines fed by data such as his weather machine and his happiness machine.

Brendan was a big advocate of putting your work out there, especially the stuff he had created that was just him playing around, the stuff that most people might say ‘but yeah what is the point?’ Because that is what he has found has led to more commercial work, things that people want him to try. That ability to just play and experiment and publish is something I think is what holds back most companies from truly innovating.

 

brendan kills

 

He ended with a great quote he had heard someone else say ‘If no one is getting hurt then it is not cutting edge’ which I loved and he also said that for all computers brilliance they still have no taste and it is up to us humans to make beautiful, inspiring and challenging things.

 

I had never heard of Kate Moross and I have to be honest as it was the last talk of the day and as Kate was dressed in bright yellow trousers, a bright red sweatshirt with a maze on it, an orange beanie hat and dyed pink hair I was making some judgements about the type of talk it would be and my assumed enjoyment levels. I could not have been more wrong or more of an idiot.

Like Brendan, Kate talked of creative freedoms in digital spaces, her start was not Photoshop and Macs but MySpace. Kate had learnt a bit about coding and designed her own portfolio page on the site but as this was several years ago before the proliferation of digital cameras and easy to use digital tools lot of people could not easily add creative designs. Kate ended up designing logos for bands and record labels to use on their MySpace pages. She published her drawings and art there. Her work got noticed and she ended up doing quite a bit of commercial work while still in her second year of university, the culmination of this was she ended up doing a fairly well known campaign for Cadbury’s at the age of 19.

With the money earned she decided to start her own record label, Isomorph, because she wanted to design record sleeves. This did not turn out to be the best idea commercially but actually lead her to realise what it is she was good at and what she wanted to do, ‘Make music look good’.

 

moross sleeve

 

Isomorph closed after 5 records were released, Kate built on what she had learnt and started Studio Moross with a view to building what she had done with the record label but concentrating on making music look good. She designed CD promo sleeves and packaging that would be sent to radio stations in the hope of airplay, this has progressed to more video related creations. Moross work a lot with independent labels and when songs are released they don’t have videos but they do need to be published on YouTube so they create looping animations and videos for these songs to represent them online. They have worked with one of my favourite beat combos, Simian Mobile Disco, and they produced a very trippy video where they bought £30 worth of insects, got a cheap SLR mount and macro lens, filmed said insects then added a load of digital effects after. Whole thing cost them a few hundred quid and looked great. Kate said it is about getting across the thing in your head in as creative a way as your budget allows.

Kate has a bewildering array of work in this space and her studio was progressing into making full on music videos such as the recent Jessie Ware track which has had over 16 million views on YouTube. She still illustrates though and had also had the chance to turn her illustrations into a more physical form in the shape of a club / party night for Ray Ban.

moross ware

He talk ended with some sage advice from this very young and very talented lady as she barracked the students (and others in attendance) to not be lazy, to get your work out there, to learn about the commercials realities of design, have no fear, learn how to improvise, make stuff even if you know your first attempts will be awful, make your own luck (the title of her book). A great talk, with a thumping soundtrack to end the day.

 

As someone rubbish at making stuff it was inspiring to hear from those who had done it and the lessons they had learnt. There were many parallels with the corporate world and lessons to learn especially around the restrictions it places on making and creativity both from a tools point of view but also more importantly a cultural one. That being said I think these maybe more of an excuse or just a symptom of fear.  It was a good way to spend an afternoon and I look forward to more curated by events.

#BarclaysGlitch – Branded bank outages?

Yesterday it seems Barclays suffered a serious technical problem resulting in the loss of several critical services inluding ATM’s and Online Banking. What caught my eye about this was that well known Money Saving Expert Martin Lewis tweeted about the outage and used a specific hashtag, #BarclaysGlitch.

 

 

Martin has a healthy following of around 260 thousand followers and is very influential in the financial services world in the UK. A lot of people started to use the hashtag to talk about the outage. Barclays themselves then also used the hashtag which is what was really interesting (for me anyway).

 

 

I think this was smart work by Barclays. I wonder if we will see journalists/influencers (ugh) looking to brand bank outages in the future? A race to have the hashtag most used in an outage? Will banks themselves try and add unique hashtags to outages? Does anyone normal use the word outage?

FinTechBot Roundup – Week 37 – 2013

A pretty big week in the Fintech world, the launch of latest iPhone (Will it or won’t it have NFC? Will it have a fingerprint scanner? Will it still be ridiculously expensive?) and it was Finovate in New York i.e. the biggest fintech conference in the world. That is where we will start.

 

Finovate Fall in NYC

For those unaware Finovate is a large conference dedicated to the new and innovative in the world of Fintech. The format is a brutal 7 minutes, no powerpoint i.e. only demo/actual screenshots/words. If you go over time you are cut off, stray too far from the path and you are gonged! Following from afar via Twitter (one day I will get to go / be able to justify the ridiculous ticket price) there were a few companies that people I trust on Twitter were very positive about. mBank an online bank that has been redesigned from the ground up with the help of Accenture and Meniga (seen before but still impressive). TipRanks a way of rating financial analysts on the accuracy of data they publish. Yodlee for their excellent sounding family focused product, Tandem, which allows differing access levels to be set to account information. Identity provider Miicard launched digitally certified bank statements which is a big step on the digital identity ladder. The videos from all the demos should be available by the end of the month (I will link to them when I have them)

Bank Innovation dot net posted a review of every presenting company, a brief paragraph and 3 scores for each. FinTech tweeter extraordinaire Bradley Leimer wrote a great roundup of the event. There is a short write up from Javelin Research.

This week it is corporate banking megabash, Sibos, which is being held in Dubai this year and is also the home of the excellent Innotribe strand. Follow the #innotribe hashtag to keep tabs on what is going on but expect design, data, platforms, organisational culture etc to be the topics of choice. More on this next week.

 

iPhone 5S & 5C launch

With much fanfare and it transpired very little secrecy the Cupertino giant officially announced the 5C and 5S variants of the iPhone. From a Fintech point of view every year it is about whether or not NFC will feature in the handsets. The answer was most definitely no. There were no specific payments announcements but there were several pointers to Apples future strategy. The well and truly leaked fingerprint sensor made it’s official appearance in the iPhone 5S. Building the sensor into devices at scale may be the boost biometrics has needed. It is only in the flagship model though so scale may be a way off yet. This article by Peter Nixey lays out why it will be an important part of Apple’s ecosystem. Following the announcement their were a lot of worried people tweeting about the NSA and also the risk of people lopping off fingers during iPhone muggings. Apple assured users the sensor only works with living tissue…no word on the NSA yet though.

More interesting was the quiet launch of iBeacons. A single line on one of the slides used to present, this little device brings new capability to Apple and merchants. These little devices can be installed in stores to give microlocation i.e. tell you exactly where a customers phone is. NFC require very close proximity to enable, less than 4cm, it seems something a bit more tap free is seen as the future by Apple. That will be an interesting change in behaviour for customers so used to a physical exchange to indicate money has changed hands. This article on iBeacon by GigaOm gives a good overview as does this one from Fast Company.

 

More Beacon News

It was not just Apple launching something with the word Beacon in it, PayPal had a much more public and noisy launch the day before the iPhone launch, which was a stunning coincidence. More microlocation goodness, USB interface for the PayPal variant though meaning it needs a constant power source which could make things a bit trickier for installation in a theft free location. I do wonder how will this microlocation / interaction free method of payment play out with people.

 

 

Bumper roundup of security news

That Edward Snowden just keeps on giving. Last week saw the realese of documents that show that the NSA were/are spying on international payments via Visa and SWIFT, in a move that shocked no one. The NSA even have their own database called ‘TracFin’ which leaves little to the imagination.

The BBC went security mad this week…

Vodafone announced that they had suffered a hack and that 2 million customers banking details had been set free.

Argentina arrests teen hacker who netted $50,000 a month

Direct Debit security critiscised

and finally the best potential bank heist story of the week is the news that a group of men in London plotted to hack into a Santander Bank via the branch.

The cyber gang is alleged to have tried to use a “keyboard video mouse” to take control of all the branch’s computers.

Stay safe people.

 

Mini Bitcoin Roundup

The processing power of the BitCoin mining network reached a key milestone recently, It is now capable of a Petahash of processing every second i.e. 1000 trillion calculations per second. If you want to hear a young man explain what that means in a language you won’t understand while demonstrating some of the most painful camera angle switches I have ever seen you will love this video.

Someone has tried to put in real world context i.e. the physical requirements if that was in one data center. Apparently you would need 100,000 of the highest performing mining server, The ASCIMiner ($3,500 each), around 21 MW of power for the machines and the cooling required. It is a lot. Either way what these big numbers mean is the network is growing much faster than anticipated. Still a long, long way to go until all 21 million coins are mined though.

In other Bitcoin news, for all its libertarian underpinnings one thing is seemingly inescapable in economics, the rich get richer. This can be seen and proven inside the Bitcoin network.

and lastly I enjoyed this long read on Cypherpunks, Bitcoin & Satoshi Nakamoto. A lot of focus on privacy, which Bitcoin is feared for today even though it is not private i.e. transactions and users can be traced. The battle for this will be the key axis on which the success of Bitcoin hinges. Too much provacy and governements will squash it, not enough and will the interest in it remain?

 

A bunch of quickies

Facebook sunsets (closed in non sillicon valley speak) credits in a bid to increase its scope for international payments. I held naive hope that these virtual currencies e.g. Microsoft Points, would herald a new age in remittances, truth is regulation killed them as they had a single point of failure i.e. a central organsiation owning them, unlike Bitcoin.

Mobile payments in the UK is sahping up to be a big battle between Vocalink’s Zapp and Barclays Pingit. Pingit has a head start of 18 months, Vocalink has the backing of the other big banks in the form of a joint effort to build a mobile databse for payments but does that backing translate to Zapp? Who will win? Either way Zapp annouced they had partenered with World Pay which certainly adds some clout to their standing. Early days but an interesting battle is emerging.

7 day switching came into effect today in the UK. This measn all major banks must now switch customers over to new organisations inside 7 days. Any financial losses incurred as a failure by the transferring organisation will be covered by them. HM Treasury, like the hipsters they are, have produced an infographic (more a listographic that takes around 7 days to scroll) to explain it in nice simple terms. More importantly will anyone care if all the banks look the same?

Gateway Index have published a much nicer and more interactive infographic in the form of this nice chart showing relevant sizes of key online payment gateways. Stripe already a sizeable blip on this landscape. They seem to the ones on the rise to me.

Really interesting interview with Steve Hilton, CIO at Credit Suisse, on the public vs hybrid cloud, firewall complexity, why they won’t be building on Amazon and why IBM is too expensive and now you can get fired for buying it. More C level bank techies being open and honest like this please.

The most humourous tweet with the most tenuos link to Fintech this week was this beauty about Capital One’s head of customer service

richard rolls

Well I hope my handful of readers are never gonna give me up. All the links, and more, that I used this week can be found in this handy list. Feel free to follow my FinTechBot on Twitter to keep up to date with the latest Fintech news.

FintechBot Roundup – Week 36 – 2013

I spent a lot of time out of the office last week so this round up is as much for me than for the other handful of people who actually read it. Let’s have a butchers at what went on…

Bitcoin News

The ‘cryptocurrency that could’ continues to provide fascinating stories. Last week the California Legislator passed a money transmitter reform bill. The bill aims to make it easier for payments startups to navigate the regulatory burdens of the US’ strictest state but also the home to Silicon Valley. Will it pave the way for more disruption? Will the Governor sign it into law? Assembly member and author of the law, Roger Dickinson said,

“Technological innovation within the money-transmission and payments industry has skyrocketed in the last few years, yet California’s regulatory framework has lagged behind, […] Providing clarity to existing companies and new start-ups on licensing requirements will ensure a vibrant money transmission market place that is fair for business while protecting consumers.”

Meanwhile the UK there has been sightings of Bitcoins at Number 10 as the Government seeks to understand a bit more about this disruptive little 4 year old. It seems the main concern from the Government is the anonymity of the currency, which in turn is causing the banks to steer clear due to tough regulations especially around international remittances. Can Bitcoin be shoehorned into existing UK regulations? 

And talking of anonymity this great article from MIT’s tech review look a the mapping of the Bitcoin economy and how it could actually reveal users identities.

“The Bitcoin protocol still has huge potential for anonymity,” says Sarah Meiklejohn, who led the research project, “but the way that people are using it is not achieving anonymity at all.”

Forbes tested the anonymity of Bitcoin by purchasing some illegal drugs (‘it’s for research man’) and promptly being busted, not by the police but by researcher Sarah Meiklejohn mentioned above.  The Bitcoin client received an upgrade last week to 0.8.4 to improve security for users

GigaOm took a look a the opportunity that international remittances do present for Bitcoin startups as banks close their doors on many schemes, the present a massive need to be filled. The cost of sending money averages at 8.85% according to the article. How much can these new companies shave off that? And can they crack the regulatory requirements to make it happen? Classic innovators dilemma conditions, large organisation exit a risky business and smaller ones come in and make it work for less…then scale upwards. To be continued I am sure.

 

Payments News

Payments as an API business pioneers Braintree are apparently hawking themselves round for sale. It seems their (own self inflated?) valuation of one billion dollars is putting off suitors. They are currently processing 10 billion dollars a year in payments and also own mobile payments company Venmo. Last week Braintree also announced new fraud prevention tools for merchants. It will be interesting to see who, if anyone, does snap them up (PayPal seem to be the favourites). It will be even more interesting who would then buy Stripe in defence.

Talking of Stripe, their march across Europe continues as they went live in Ireland to add the recent full launch in the  UK and beta trials in Belgium, The Netherlands and France. They took a cheeky swipe at the existing payments players in their press release / blog post announcing the launch;

“To date, online payments infrastructure in most of these countries, including Ireland, has been dominated by lumbering incumbent banks. Accepting internet payments involved weeks of setup, reams of paperwork, and bureaucratic approval processes.”

 

PayPal had a mixed week. It seem they still have some way to go on ‘Customer First: The PayPal Way‘ as it emerged they had frozen the accounts, containing 45,000 dollars of another project, this time it was privacy focused Icelandic email startup Mailpile. The company were pretty quick to unfreeze the accounts in this instance, maybe the PayPal way is almost here.

In better news PayPal launched a new app which had some very innovative features as well as redesigned experience throughout. Features such as order ahead i.e. submit an order while standing in line at a coffee shop, They have also built credit into the app allowing you to apply for finance for those bigger purchases. It all builds on their desire to be seen more as an instore payment provider rather than just an online one. A big challenge.

 

 Security News

A new variant of evil looking and sounding banking malware is in the wild. HesperBot (HesterBot named after exRBS chairman would have been a more amusing name) is similar to the infamous Zeus malware and is starting to be seen across Europe. It does the usual awful things like stealing logon data but also seems to be targeting a number of mobile platforms i.e. Symbian, Blackberry and Android.

Trouble in Middle Earth as Kabam the makers of the mobile Hobbit game have warned of fraudulent activity around its virtual currency Mithril. Dodgy 3rd parties have been flooding the game with offers of cheap Mithril which maybe cheap for a reason i.e. it is fake. Only ever buy Elven manufactured Mithril.

A good heart these days is hard to find‘ sang Feargal Sharkey, which might point the reason that technology company Bionym have decided the harness the uniqueness of the heart beat to create a new product, Nymi. Nymi is a wrist band that can track the wearers ECG (ElctroCardioGram) and allows biometric to access all manner of systems including payments.

 

 

Confrence News

This week in New York it is Finovate Fall, which is one of the biggest Fintech conferences in the world. Snarky Bostonian Bank Blogger, Ron Shevlin takes a look at what he wants to see at the conference (hint: it is not slick UIs at the expensive of tangible business models). Jim Marous has taken at look back at the history of the event and it is interesting to see the patterns of companies demoing over the years coupled with how many of the innovations shown have actually made it into mainstream banking.

In the UK Next Bank Europe will take place on the 5th & 6th of November. Hopefully I will be speaking at the event but please do not let this put you off attending.

Jumble of Fintech Links

Lots of little stories from the Fintech world that I can’t be bothered to categorise.

 

And that was the week that was. Hope it was good for you. Follow my little @fintechbot for all the latest news first. Here is a big list of all the links used (and some not used) in this weeks post.

FintechBot Roundup – Week 35 – 2013

A few weeks away from the office also meant a few weeks away from the blog. Back into it into now though so let’s have a little round up of news from the world of Fintech last week.

 

Motivation

“Hi, I’m back from holiday full of innovative ideas for our company” “Don’t worry, it’ll pass”

 

Inevitable Bitcoin News.

Bitcoin back at the top of the news this week. Recently the German finance minister stated that Bitcoin was legal tender;

The German Ministry of Finance has issued an official statement recognizing Bitcoin as “Rechnungseinheiten,” a legal designation that translates to “units of account”. This type of money is also referred to as “artificial currency” or “side payments.”

Interesting to see how this affects the attitudes of other countries in the EU and the wider world. Regulation however is still doing its best to keep BitCoin exchanges and banks in line. The latest to feel it wrath are the exchange Tradehill, which announced it was pausing trading;

We have recently made the decision to temporarily suspend trading on the Tradehill platform, due to banking and regulatory issues. This decision has not been made lightly and we regret having to take such action. However, we embrace the silver lining of our situation and plan to take this opportunity to upgrade, improve, and polish our trading platform.

The Internet Archive Federal Credit Union (yes it is a real thing) pulled the plug on its BitCoin friendly accounts (I assume they have archived them). They opened the accounts with a cry of “These are not drug dealers, money launderers, or whatever. These are average folks,” they closed the accounts with the slightly less chipper “Until we have further clarity, we are unable to service some of our corporate members.”

The regulators and the BitCoin foundation met behind closed doors (surely most meetings are behind closed doors so as not to disturb others) in the US. Thankfully the Washington Post managed to tease out some details from the meeting;

“You could tell the folks there were certainly concerned about the potential use of Bitcoin for illicit purposes,” said Jerry Brito, a senior research fellow at George Mason University’s Mercatus Center, who attended the meeting. “What the Bitcoin Foundation tried to stress is that Bitcoin is less useful for those purposes than other centralized virtual currencies. I think that got through, but the feeling from regulators wasn’t, ‘Oh boy, all of our concerns have been laid to rest now, and thank you for coming.’”

In less serious/regulatory news. RoboCoin, a sort of BitCoin ATM that allows you to exchange it into others currencies has gone on pre order for just just 20,000 dollars.

Coinchat is an Internet Chatroom (remember those) where you smart talking could earn you cash. Effectively paying people to use the site they have got around 8,000 users. The money comes from the sites advertising and is paid in mBTC (micro Bitcoin fragments). This slicing and dicing of Bitcoin into miniscule fragments really is paving the way for true micropayments on the web.

and finally for the BitCoin news it seems that the word BitCoin is now in the Oxford Online Dictionary. It was added along with other world-changing terms such as twerk, derp and srlsly? Make of this what you will.

 

Yorkshire News (a section I wish featured more often in these posts)

Cardlytics announced its first UK bank partnership, Halifax. The service plugs customer transaction data into the Cardlytics platoform and allows ‘targeted and relevant’ offers to be placed into the online banking experience. It will be interesting to see how this is received in the wilds of West Yorkshire (and the rest of the UK). It is a new revenue stream that lots of banks want to try but getting traction is difficult. US bank Ally recently announced it was closing its card related offers scheme.

The Yorkshire Bank (a bank which should be the greatest bank in the world but probably isn’t) announced a cloud based shared service alliance‘ with HP. This is an interesting move which sees the Yorkshire Bank move into the bank as a platform territory. They already provide services for some smaller building societies will this new platform draw in a new breed of banking company?

 

ATM News

FNB in Africa have launched a cash free cash machine. This seems to go against everything the ATM is there to provide but you can get the next best thing to cash, a little piece of paper that you can take to approved retailers and they give you cash in return. The ATMs are cashless for safety reasons and they also provide access to online services.

As new services atart appearing in the ATM channel, specifically those involving mobiles and the withdrawal of cash then the hackers and scammers are not far behind. Banks are starting to see an increase in SIM swap fraud. Cloning a persons SIM to receive their incoming text messages i.e. one time passwords for emergency cash withdrawal from ATMs.

 

POS News

It seems that the new mobile card reader is the new mobile POS. Every man and his dog in the US seems to be launching one of these offerings and the latest to try is Shopify. They have announced they will be offering a full POS service. The full package they are offering includes an iPad and mobile card readers as well. Selling payments and POS in one tightly integrated bundle (the payments processing is providing by Stripe I believe). Looks like a nice package. Interested to see if these kind of offers make it to the UK.

Other non traditional finance companies that are also getting into this space include Telefonica. They are trialling an Mobile POS solution in the Czech Republic.

 

A big old bundle of links that I cannot be bothered to categorise

A big reorg happening at Visa in the mobile wallet / innovation areas. Some eagle-eyed but fact light reporters suggested that Bill Gadja, Global head of mobile for Visa, had been ousted. Visa were quick to clarify the situation, in a blog post, saying he now had a broader role along with news of other changes in the organisation. One of the changes is the recruitment of Sam Shrauger, ex Yahoo! and Paypal, as the new global head of digital for developed markets.

 

Transport For London have issued a consultation for going cashless on buses. Technology FTW at first glance but then what do you do about those millions of pesky tourists and visitors each year? Share your thoughts

 

Another day and another case of PayPal freezing the funds of a legitimate cause / project. This time it was IndieGogo funded project GlassUp which aims to build a competitor to Google’s Glass. They raised over 100,000 dollars but then PayPal froze the funds (since unfrozen). There have been lots of cases of this kind of behaviour but maybe this will be the last. PayPal announced that they were looking to put customers first.

“We’re tweaking our risk models to catch more sharks and less dolphins,” PayPal’s senior director of global initiatives Anuj Nayar

PayPal president David Marcus posted details of his company’s new approach. Will Customer First The PayPal Way smooth out these frequent issues and can they get back customers they have lost? Time, tell etc.

 

Talking of crowdfunding (tenuous link at best). IBM have been talking up their attempts to run internal crowdfunding experiments. They give 500 employees one hundred dollars each to invest in ideas and projects of their choosing. An interesting experiment which I would love to run inside the organisation I work for.

 

One of Square’s co-founders Jim McKelvey is starting a fintech accelerator called SixThirty. With his learnings from Square and his new found contacts in the financial industry he aims to help new companies avoid some of the hassles Square have faced.

“We could have saved 18 months if we had access to SixThirty when we were launching Square,” McKelvey says.

Their seems to be new fintech accelerators popping up all over the place and I am hearing rumours about a large player in the space looking to set one up in London soon. Very interesting to see what impact this focus on fintech Sillicon Valley has at the moment. Can they get through the armour of the traditional financial institutions and start to truly change banking?

 

Geolocation social network / pivot to offers and stuff thing, Foursquare is seemingly the object of both Microsoft’s and Amex’s attentions. The pair are reportedly at war over the company founded by Dennis Crowley. Interesting to see how the network fits into either company’s business models, MS could plug it into Bing for better search / advertising / offers, for Amex it would all be about the offers as seen in their tie up FoursqaureAmex

 

How about a bespoke magazine rack based on a graph of data from the Italian financial crisis in 2011?

magazine rack

 

 

And finally here is a story about payments via hugs and touch from back in May that I must have missed due to the arrival of my second son. Thankfully the very smart Dan Williams posted a link to it last week so I got chance to see it. It is work which Dan’s Pervasive Media studio was involved in producing and looked at payments and how they could become embedded in objects and how that could affect our relationship with payments. The strive for all digital everywhere is clearly eroded human interactions especially around touch. This work by Heidi Hinder looks to change all that. Brilliant stuff. Read the research report and watch the video below.

‘Money No Object’: Craft + Technology residency from Heidi Hinder on Vimeo.

 

And that is that. Sorry for being away so long (as if anyone cares). Here is a link to a list of most of the links used above. Follow FintechBot on Twitter for all the latest fintech news from it’s very simple algorithms and it’s even simpler owner.

Friday Reading 31

Today is Thursday (when I wrote this it was). Tomorrow (today) I go on holiday to France. It has been a pretty crap week (my car got hit by a crane, machine not bird, it is a long dull stressful story) and I can’t wait to get away. Nevermind all that have some auto posted reads. Six lovely posts on a diverse range of topics including the dangers of simplification, praise of play, downsides to corporate accelerators, flat pack futurism, creative perspective and why undercover police officers should not use social media.

 

The Simple Truth

In More work for Mother, Ruth Schwartz Cowan illustrates how less work and more free time through mechanization has never been the case. In manufacturing, the machine ethic is adopted in order to compress work with the aim of increased productivity, rather than allowing the employees to leave earlier each day. It’s entirely logical that if we adopt the same ethic in domestic spaces, the result remains constant: our expectations just keep pace with the current reality. Simplification does not lead to leisure credit, it allows for more work to be completed in a similar timeframe. Ultimately this exerts a productivity pressure upon humans as they try to keep pace with the machines, a phenomenon that James Gleick characterizes as ‘hurry sickness.’

 

In praise of play

The pursuit of the pure, free, play is the true driving force behind the games, art, story, and experimental technology worlds I encounter in my daily work. Intelligent people simply will not spend significant chunks of their lives working on difficult problems unless they are motivated, and motivation is the art of remaining excited. What’s more exciting than the universe at your fingertips? Creative play is the excitement of infinite possibility.

 

Are corporate startup accelerators doing more harm than good?

What I tell people is that accelerators created by corporations or funds have a tendency to create “silos”. They often have one location where participants move into on day one of a program, work for months, and finally emerge on Demo Day with brilliant presentations. They normally bring in a group of professionals as mentors, with a tendency to create “our” group of mentors as opposed to “your” group of mentors. Through their affiliation with, say, a big media company, they claim to bring in exclusive benefits from their respective backer – with the keyword here being “exclusive”.

 

The death of the cool: fan-fiction futurism

‘The next market shift could come from using our devices as doorways into tomorrow’s Digital World.’ … OK, so it’s a woolly metaphor. Carry on.

‘If you think digital is cool today, you don’t know the meaning of cool’ LAY IT ON ME, DADDY-O; THIS HEPCAT’S HOT TO TROT FOR TEH FUTUREZ LOL (If there is a meaning of cool beyond the one that refers to relative temperature, middle-aged men talking like they think teenagers talk is its antithesis.)

 

A Short Lesson in Perspective

It takes a certain amount of courage, thinking out loud. And is best done in a safe and nurturing environment. Creative Departments and design studios used to be such places, where you could say and do just about anything creatively speaking, without fear of ridicule or judgement. It has to be this way, or you will just close up like a clamshell. It’s like trying to have sex, with your mum listening outside the bedroom door. Can’t be done. Then some bright spark had the idea of setting everyone up in competition. It became a contest. A race. Winner gets to keep his job.

 

Activists Identify DC Cop Who Infiltrated Bangladesh Sweatshop Protests

On April 20, MacAuley spotted “Missy” at a protest outside of the World Bank and snapped a photograph of her (above left). Meanwhile, Light and Canavan dug up evidence that Rizzi was a police officer, including a photograph posted on yfrog of Rizzi pointing out a typo on a piece of mail addressed to the “DC Metropolation [sic] Police Department.” Rizzi’s finger partially covers up the address line, but it appears to read “Director, Intelligence Branch.”

 

Short and sweet, just like my holiday I suspect.

FintechBot Roundup – Week 31 – 2013

BitCoin news back at the top this week after it emerged that Thailand had banned the cryptocurrency…or had it? A local Bitcoin Exchange company had been going through the process of fully registering with Thai authorities. As part of that process the company were called in front of a panel of experts at the Bank of Thailand.

At the conclusion of the meeting senior members of the Foreign Exchange Administration and Policy Department advised that due to lack of existing applicable laws, capital controls and the fact that Bitcoin straddles multiple financial facets the following Bitcoin activities are illegal in Thailand:

Buying Bitcoins
Selling Bitcoins
Buying any goods or services in exchange for Bitcoins
Selling any goods or services for Bitcoins
Sending Bitcoins to anyone located outside of Thailand
Receiving Bitcoins from anyone located outside of Thailand

 

Following that announcement the BitCoin world went into a frenzy but it is still far from clear whether or not the activities listed above are legal or if the requesting company have just not been granted a money transmitter license. It will be interesting to see how this unfolds over the next few weeks especially if the Bank of Thailand do confirm their postion.

This article is a great overview on how BitCoin exchanges work and the problems they currently face. Another very closely related issue to this is ‘GovCoin‘ a term being used more widely thanks to the bending and alterations being forced upon the BitCoin system as it rubs up the banks, and the Governments that effectively manage them, in all the wrong ways. Jon Matonis looks into this issue and how it is shaping the future of the cryptocurrency.

In more pleasant BitCoin news, this interview with the founder of Bitcoin powered mobile wallet Kipochi, Pelle Braendgaard, is well worth a read. Africa continues to be a real source of financial innovation.

 

Cloud bank news

The Dutch Banking regulator (DNB) has approved Amazon Web Services for use in “all facets of Dutch financial operations”. This is huge news, will we now see a raft of banks making infrastructure (and shortly followed by core bank systems) their next commodity? Will we see other countries follow suit? Or will it be a wait and see approach i.e. let the others make mistakes first.

Meanwhile IBM and Amazon are battling it out for a CIA cloud contract. Banks and Governments in the cloud. Those data centres are starting to look like a burden to some and a gold mine to others.

 

Goldman Sachs News

Programmer Sergey Aleynikov has been rearrested for the theft of code from Goldman Sachs. The ex-employee uploaded modified open source code containing his own alterations so that he could unpick the code and release the improvements back into the open source community.  He has already been tried and acquitted following an appeal but has now been rearrested and is facing several charges in New York. Michael Lewis has written a brilliant and lengthy article on the story that I can’t recommend highly enough. I have a feeling this might just blow open banks usage of open source and whether they are taking more value than they create, which seems to be their default behaviour.

Serge quickly discovered, to his surprise, that Goldman had a one-way relationship with open source. They took huge amounts of free software off the Web, but they did not return it after he had modified it, even when his modifications were very slight and of general rather than financial use. “Once I took some open-source components, repackaged them to come up with a component that was not even used at Goldman Sachs,” he says. “It was basically a way to make two computers look like one, so if one went down the other could jump in and perform the task.” He described the pleasure of his innovation this way: “It created something out of chaos. When you create something out of chaos, essentially, you reduce the entropy in the world.” He went to his boss, a fellow named Adam Schlesinger, and asked if he could release it back into open source, as was his inclination. “He said it was now Goldman’s property,” recalls Serge. “He was quite tense. When I mentioned it, it was very close to bonus time. And he didn’t want any disturbances.”

 

Developer/API News

PayPal’s REST APIs are now available globally, as they continue their battle with the likes of Stripe. Talking of which, Stripe now have a shop, not for cutting edge APIs but for T-Shirts. Another thing I love about the API trend and the changes it is bringing about in financial services development is things being much more in the open. This article by Pete Keen looks at the risks of processing payments via web services and he has written some code to limit the risk. Lovely stuff…complete opposite to the Goldman story above. 

In slightly related news I liked this interview with Visa developer, Michael White, I think glimpses into the world of financial systems and their creators are rare things and I am not sure why.  Do banks just keep these things secret just for secrets sake? Or to give the perception of infallibility by obscurity?

Skeuocard is a lovely little bit of code that upon entry of your credit card number renders the correct type of card.

Westpac New Zealand is running a competition aimed at developers and designers. The Westpac App Challange is looking for app ideas/prototypes that “make a process, transaction, application or any other common banking activity easier, faster and safe for customers”. The winners will get 10,000 New Zealand Dollars each. Watch the cringe inducing video to get more details. I love these kinds of initiatives but as the video shows these interactions with the real world still feel very awkward.

In other BIG NEWS from the southern hemisphere

 

Mobile Payments News

Isis the US carrier based mobile payments initiative reminded everyone it still existed by announcing they will launch something by the end of the year, honest. I am yet to be convinced that the carriers have anything to offer but further complications in the already byzantine system of payments. I am willing to be proved wrong but I still don’t see why you would move the secure element on a plastic debit/credit card onto virtually the same chip on a SIM card? Sideways move.

OpenTable the restaurant reservation service is looking to embed payments into its app. So not only will you be able to get a great little table by the window you will also be able to pay directly from the app and keep your talking to humans at an absolute minimum. Banks thinking they can continue to own end to end payments journeys must surely see the writing on the wall (not the menu).

The payments Nascar problem shows no signs of being resolved and last week saw another payment option soon to be added to the morass. Mastercard’s MasterPass brings its virtual mobile wallet stylings to the UK. I guess anything that stops me giving away the keys to my house every time I buy is a good thing. Argos, Boots and House of Fraser are all on the launch list.

 

Security/Whoops News

The long rumoured iPhone biometric sensor seems to have been confirmed via some code in the latest beta release of iOS7. We will see if that is true when the new iPhone launches in September (at a guess).

You can learn more about banking security requirements from this tale of woe than you ever will from a banks own website where they just say ‘Cover your PIN’ and S’hred your documents’ and other such lazy platitudes. I love a good tale of security woe.

Yorkshire and Clydesdale bank suffered an Internet banking outage following their failure to renew their domain name. Doh.

And it seems this practice is acceptable to a bank (although I am unable to verify which one but it looks more like a fraud attempt)

 

Miscellaneous interesting stuff

Do you fancy heading up Libya’s central bank? You can apply online now.

Barclay’s have mobile and digital specialist Zapp’d. Ian Sayers, ex-chief architect for digital and mobile at Barclays is headed to Vocalink to work on the mobile merchant payments company Zapp. He joins ex-HSBC head of propositions Peter Keenan. Strong looking team but can they get the product out there and get traction? Going to be a tough one I think.

Brett King’s Breaking Banks radio show (Every Thursday at 8pm EST) continues to be an interesting series of shows. This weeks episode looked at how people spend and use money and how it is far more simple than saving and avoiding the temptations of daily life. Well worth a listen each week.

Social media payments service, Chirpify, raised $6 million in Series A funding. It seems there is money in buying stuff via simple reply on Twitter.

An interesting read on the challenges of scaling ATM usage in India and the innovation it is driving in the main providers i.e. NCR and Diebold, as they deal with the infrastructural challenges the country presents. For example, ATMs that casn switch intelligently between solar, AC grid and battery backup.

Last but by no means least a great article in the Guardian looking at the entrepreneurship in Minecraft through creation and collaboration. The future of money will certainly be heavily impacted by computer gaming.

 

Feel free to follow my little news gatherer @fintechBot on Twitter.

Friday Reading 30

I have managed to do this 30 times. That must be enough to have formed a habit by now. Anyway I only managed to write this as a meeting got cancelled which is a bonus (for me, you might have hoped for a week without this pointless curation).

After a week in which the continued focus on Twitter Trolls and their awful sexist/threatening/outright criminal behaviour has been almost as depressing as the UK Home Office taking to social media, it is a wonder anyone uses the Internet at all.

Someone who was forced off the web (and I have mentioned a few times before as a bit of a hero), Kathy Sierra, was back on Twitter and with a new blog as well. She published an amazing first post on the cognitive drain interface designers place on people. it ties in so well with a few things that are really bothering me about banking, especially security related, interfaces. Other things to make my brain smile were a letter from a director at NASA to a nun, a deep web heist, JP Rangaswami on customers and flow, William Heath Robinson, why most innovative companies aren’t and the info ladies in Bangladesh.

This image also caught my eye this week. My first thought was that it is hilarious, my second is that when someone is responsible for destroying art/fun/creativity etc then their face should be on that decision…I would like to see something similar in my place of work.

graffitti

 

 

Your app makes me fat

If your UX asks the user to make choices, for example, even if those choices are both clear and useful, the act of deciding is a cognitive drain. And not just while they’re deciding… even after we choose, an unconscious cognitive background thread is slowly consuming/leaking resources, “Wasthat the right choice?”

 

Why explore space?

Very fortunately though, the space age not only holds out a mirror in which we can see ourselves, it also provides us with the technologies, the challenge, the motivation, and even with the optimism to attack these tasks with confidence. What we learn in our space program, I believe, is fully supporting what Albert Schweitzer had in mind when he said: “I am looking at the future with concern, but with good hope.”

 

The blockbuster heist that rocked the Deep Web

On May 15, 2013, just as HackBB was attempting to reestablish its primacy, a second attack brought the forum to its knees. The attacker was thorough and deceptive in ways even these experienced hackers and criminals hadn’t expected. During the first attack, Boneless had used his admin powers to create other, hidden accounts under his control, then granted them administrator status. It was as if, before leaving, he had dropped a half-dozen secret keys around the property.

 

Thinking about customers and flow

Scale begat lobbies. And lobbies begat regulation. And somehow or other these regulations enshrined the new status quo, of pace being set by manufacturer and distributor not customer.

 

Heath Robinson: the unsung hero of British eccentricity and innovation

In the run up to and during World War One, Robinson became known for a series of drawings in magazines such as The Sketch and The Tatler, poking fun at modern living, carrying normal tasks to ridiculous extremes often using complex or convoluted contraptions — described as “simple devices” — to perform trivial tasks, such as potato peeling,wart removal and pancake making. Very quickly his work became popular, allowing him to command healthy commissions.

 

Why the Most Innovative Companies Aren’t

The larger the company, the deeper the orthodoxy. Leaders of complex organizations tend to surround themselves with likeminded people, which reinforces their conventional approaches. At every stage in the life of a new idea or initiative, compliance crushes dissent. The Point: According to executives the biggest challenge they face is connecting the dots between departments, regions and other companies which is inhibited by organizational design and control-based rules

 

‘Info ladies’ go biking to bring remote Bangladeshi villages online

As she approaches the village, Sathi rings her bicycle bell and the children come running to meet her, shouting “Hello, hello”. Women emerge from their homes one by one. Sitting in the middle of a beaten-earth yard, Sathi carefully places her laptop on a plastic chair, plugs in headphones and launches a session on Skype. The faces of village men working thousands of kilometres from here appear on the screen.

 

Have a lovely weekend. Feel free to subscribe to these reads via email or via RSS here or you know, don’t bother. I am happy if you got this far.

FintechBot Roundup – Week 30 – 2013

Jesus saves, God invests or so goes the old joke. This week the Church of England proved it was more than a joke as they finally lost patience with the payday lenders that are seemingly running riot in the UK. The church decided that it would ‘compete Wonga out of existence‘. The only downside to this was that one of the Churches many investments from its £5.5bn fund was actually in one of the parent companies of Wonga. Embarrassment aside it is good to see alternatives to banks and payday lenders, such as Credit Unions get some coverage. The FT also wrote a nice piece on how they Church should fund a whole host of alternative lenders. Talking of alternative lenders, the Bank of Dave seems to have had a great impact on the regulatory environment in the UK. A recent report said that the programme showed that ‘many things need to change’.

10.7.The Bank’s “consumers” need to become “customers” again. Bank customers don’t consume anything and they should not be (mis-)sold “products”. Banking is actually quite simple.

There was more bad news for payday lenders as Plymouth Council banned providers from advertising on billboards and bus stops in the city. Slightly better news for Wonga was that Newcastle United forward Papiss Cisse backed down from the moral high ground of refusing to wear their Wonga sponsored kit this season on religious grounds (may have been something to do with him being photographed in a casino).

 

Fraud, Security and wrongdoing news.

A jailed detective has broken his silence stealing confidential information for a number of financial services firms. The investigation by SOCA (Serious Organised Crime Agency) was called Millipede because it had so many legs to it.

‘SOCA doesn’t want to give up the Millipede names because if they did, they would be forced to investigate them and charge them for conspiracy to defraud as they did us. On that list are the names of law firms, banks and insurance companies who all used private detectives for all sorts of reasons.’

This one could run and run. Boom.

5 men have been charged with the theft of 160,000,000 credit and debit card numbers in the biggest case of its kind in the US. The losses incurred as a result of this have been estimated at $300,000,000 but this figure has been called conservative.

A new browser extension from Abine, called MaskMe offers a number of features for those wanting to stay safe online. Included in the package is the ability to create one time only credit card numbers, in light of the above story it is clear that credit card numbers as we know them today are not fit for purpose.

Well known ATM hacker, Barnaby Jack, died unexpectedly at the age of 35 just as he was about to go on stage and demonstrate pacemaker hacking.

For just $5,000 you can buy your own bank raiding trojan. The software called KINS promises ‘the ease of use of bank-account-raiding software nasty ZeuS’

Researchers have built a $200 robot that can mash PINs all day long in an attempt to crack Android phones.

Not only is New York’s Citibike scheme a boon for homeless spinners it has also leaked credit card data of around 1,000 unsuspecting bikers.

Apparently an entrepreneurial BitCoin ‘investment expert’ called, I kid you not, PirateAt40 managed to con a lot of idiots in a 700,00 Bitcoin Ponzi Scheme.

Fintech Beer News.

Guiness is offering NFC enabled alcohol drinkers the chance to win a free pint by tapping their phones on beer pumps.

BarEye is an iOS app that makes buying drinks for yourself and for others even easier. With a few taps you can have drinks brought to you or sent to others in the bar.

Mobile stuff. 

Mobile payments continue to be big news even though they are still as fragmented as a broken chandelier.

Starbucks announced that 10% of their transactions in the US come via Mobile Payments.

iZettle threw down the gauntlet in the Mobile POS race by slashing up to 45% of its transaction charges, The race to the bottom is on.

Mobile wallet provider Lemon has launched the Lemon Network, seemingly without irony or any kinds of understanding of the connotations of the phrase Lemon.

The GSMA have released their latest vision for a mobile payments enabled world and how important the network operators will be in that world according to the network operators.

BillGuard have launched on iPhone to help tackle those pesky ‘grey charges’ while on the move. I am a big fan of their technology and approach and I sure wish more banks would learn from them.

 

Mini BitCoin roundup.

BitPak the first iOS BiotCoin wallet has been removed from the App Store because apparently BitCoin is illegal in ‘some jurisdictions’. CoinAva allows Iranians to buy BitCoin. A little look at some of the alternative currencies following in BitCoins wake, FreiCoin, LiteCoin and PPCoin.

Algorithmic News.

I did not type this bit is was generated automagically. The UK Government has called for a tax on High Frequency Trading. The algorithmic tax as I have called it had the immediate effect of drawing condemnation from those that profit form a thing about to be taxed.

The videos from the Wired Money event I mentioned a few weeks ago are now available. I have watched a few so far and the best one is by Kevin Slavin on how the algorithms in banking have made a system so complex that we can no longer read, see or hear it. highly recommended viewing.

 

Everything else that I could not shoe horn into some sort of category. 

Online Financial Advice service, LearnVest raised $16.5 million in funding and there are also rumours they will be patterning with Amex

American Banker have been running a series of articles on the Future Model of Banking from some of the finest minds in Fintech (I can only assume my invite got blocked by our firewall). They are well worth a read and you can find them all handily linked from this page. They also have an interesting if slightly stunted and awkward interview with Miranda Hill of Well Fargo on their digital innovation lab.

I am a big fan of Barclaycard’s Ring project especially the transparency element of it. They have posted their financial stats for June and they make for interesting reading. Why don’t more banks do this?

Microinsurance is an interesting area of finance. This Guardian article takes a look at the work of LeapFrog Investments a company that invests in microinsurance businesses across the world

A good article from the Economist on remittances in Africa. Sending money back home is a core need for migrant workers. The methods of transfer are fraught with risk for the banks that provide parts of the infrastructure. When big banks pull out of the systems what can be done to bring these systems back to life? Innovation opportunity for sure.

PayPal have been hosting a series of hackdays leading up to a mega hack day in an event they are calling battle hack. The most recent event in NYC was won by DropDeadAR who have built virtual money into actual physical objects and locations. You just need a phone, augmented reality app and a desire and means to find said item and buy it.

 

jane austen

The furore over bank notes in the UK and the replacement of Elizabeth Fry on the £5 note with Winston Churchill has been resolved. Winston will not be the face of the fiver but it will actually be Jane Austen thanks to an impressive campaign lead by Caroline Criado-Perez. Unfortunately this campaign turned sour with Caroline receiving awful abuse on Twitter, which has thankfully lead to one arrest so far, this shows it was certainly worth fighting for and that there is much more work to be done. On a lighter note this article on the design of banknotes is a nice read.

And finally an interesting video clip on the history of Fintech from way back in 1972 in the very early stages of the computing age. It features some wonderful imagery and commentary although worryingly it also features a sexist classic about the risk of this new fangled electronic banking

“a husband doesn’t want his wife to know what his income is…”

Obviously we have moved on as a society in 30 years…haven’t we?

Friday Reading #29

This week it seems I have been collecting articles that actually relate to my job, which is increasingly rare these days. The fact it is half year review time and our team is going through some organisational changes I am sure has not had a subconscious impact on my reading of choice. A heady mix of innovation stuff, organisational working attitudes and styles, Google’s attempts to become a real enterprise software provider, the failure of platform thinking at Facebook, two interviews with innovators (innovatorviews?), dark UX patterns and what happens when you test the prisoner’s dilemma with actual prisoners (not obviously work related although maybe it is). Read them and be ready for your appraisal…sort of.

 

Slow Ideas

In the era of the iPhone, Facebook, and Twitter, we’ve become enamored of ideas that spread as effortlessly as ether. We want frictionless, “turnkey” solutions to the major difficulties of the world—hunger, disease, poverty. We prefer instructional videos to teachers, drones to troops, incentives to institutions. People and institutions can feel messy and anachronistic. They introduce, as the engineers put it, uncontrolled variability.

 

Stop Backing Visionaries

…if you examine the births of the most successful consumer internet companies, you’ll quickly realize that initial product and “vision” are flawed criteria. More often than not, founders, early employees, and investors of the largest tech companies will tell you that the product that took off was never part of (at least not fully) the original “plan.” Twitter spun out of Odeo, Instagram was a Burbn pivot, BuzzFeed evolved from one of many “for fun” experiments?—?the list goes on and on. By and large, innovative products aren’t strategically imagined ahead of time – they’re stumbled upon while experimenting on-the-go.

 

What gets done is what gets done

The opposite of the work hero is the person on the team who has kids. Well, they’re probably more of a hero than the work hero, but that’s another story. They do good work, they’re prompt, professional, committed and they’ve got experience. The trouble is, that if you have work-heroes around, you’re bound to have a nasty moment where the people who just can’t work late or drop weekends to satisfy the heroic workload pattern end up looking like they’re slacking or are uncommitted.

 

To Do to Done: Jank ‘n’ Drank

According to Ford, who came close to dubbing the Tuesday night sessions Work ‘n’ Twerk,”jank” is a very specific category: “Long-standing bugs, slightly broken user experiences, processes that could be automated or improved, visual imperfections in the product, development environment annoyances, hacky code that’s on the verge of causing that one bug, again, and other tasks clinging to the bottom of a to-do list.”

 

The sad story of Platform, Facebook’s gigantic missed opportunity

Today, just after its sixth birthday, Facebook Platform is a shadow of what it could have been, a missed opportunity that might amount to tens of billions of dollars of squandered revenue. Outside of games, there has been no killer Facebook app. Other than Zynga, you’ll struggle to name a single business that has built itself entirely inside the Facebook framework. Once-promising startups Slide and iLike would ultimately abandon their big bets on the platform, selling to Facebook rivals Google and MySpace for amounts smaller than their one-time valuations.

 

Google wants to own enterprise, but it’ll do it Google style

Petlon didn’t want end users to perceive that this new technology was being jammed down their throats, so nothing was taken away and growth toward Google Apps was organic. If users wanted to use an Outlook client to access the Gmail back end, they could. Two years in now Petlon estimates that 90 percent or more users are happy Googlers. Collaboration using Google Apps probably doubles every month, he estimates, and having to use Microsoft Word documents with “track changes” turned on feels as old school as getting a fax.

 

IFTTT Puts the Internet of things in your pocket

“But with the Internet, there’s no common understanding,” he continued. “There are things everyone gets like email or hyperlinks, but there’s still this lack of concrete rules. Could that cause-and-effect thing be turned into one of these fundamental rules? How do we productize that? How do we make this available with an interface anyone could use? What are some of those other rules that might exist?”

 

Interview with Jane Ní Dhulchaointigh, inventor and CEO of Sugru

One night, I was giving myself a really hard time and my boyfriend, James, brought me into the kitchen and pointed out all the humble little solutions I had done. He said, “What if it’s not you that’s the creative person, and what if it’s not one perfect design or solution? What if this could be a humble, handy household product thateveryone could use to make their things better?” Suddenly, it was about everyone’s potential; users know why things don’t work, from the teapot that doesn’t pour properly to the shoe that’s really uncomfortable. That was a real light bulb moment for me. I saw this huge potential and everything clicked. I thought that if I could make it simple enough and attractive enough, then millions of people could use it—I felt very sure from the start that it had the potential to be something universal.

 

The slippery slope

So how would you react when your boss says to you that you have to cut wait times to under 5 minutes per patient or you’re fired. Just think about this for a moment. You’ve got no spare capital, no spare staff time, no way to stretch your resources. How can you possibly do this? Well here’s a little idea. How about you create a job role for a nurse where their job is simply to say hello to new patients. Nothing more. That way the patients are seen to, that way the wait time problem is solved. You get to keep your job. Sounds devious – but this really happened throughout the NHS in the 90s.

 

They Finally Tested The ‘Prisoner’s Dilemma’ On Actual Prisoners — And The Results Were Not What You Would Expect

In sequential games, where players know each other’s previous behaviour and have the opportunity to punish each other, defection is the dominant strategy as well.  However, on a Pareto basis, the best outcome for both players is mutual cooperation. Yet no one’s ever actually run the experiment on real prisoners before, until two University of Hamburg economists tried it out in a recent study comparing the behaviour of inmates and students.

 

Bonus Aden Link i.e. blatant inclusion of my own writing.

 

Six Little Fields

I assume that most people who own financial services products, be they current accounts, credit cards, loans, savings, insurance etc. do not have them all from the same organisation. Even though I work for a bank, and I should probably whisper this, I do not have all my products with that organisation. This is of course the benefit of a free market, competition and choice, which is a fantastic thing. The big issue from my point of view is what is known in the banking industry as single customer view i.e. the ability to see your full financial picture in one nice shiny interface. This is not a new problem in the industry it is also something I have written about before, but it is one that seems far from being solved or even on any of the banks to do list.

 

Enjoy the rest of your Friday. Feel free to subscribe to these reads via email or via the much cooler (and more content filled) RSS here