[kictanet] Wall Street has an innovation problem...

Tue Aug 23 08:20:25 EAT 2016

Its an interesting time. There has never been a time in history where
forces of Monopoly have actively faced a crisis over lacking innovation
like this one. Anything can flip overnight.

On Tue, Aug 23, 2016 at 6:03 AM, Ali Hussein via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> Listers
>
> Lots of discussions on cryptocurrencies and Blockchains but the truth of
> the matter as far as innovation goes the last time financial sector really
> innovated was when the ATM was invented. Now is an opportunity for the
> industry to jump back on the innovation bandwagon..
>
>
>
>
> [image: BI Intelligence]
>
> Monday, August 22, 2016
> Wall Street is Outsourcing Innovation Wall Street has a major innovation
> problem.
>
> So says Sallie Krawcheck, CEO of Ellevest (an investing platform tailored
> to women) and the former CFO of Citigroup.
>
> "Now, I would argue to you...the last real innovation that came out of a
> big bank was the ATM," Krawcheck told Business Insider's Linette Lopez and
> Josh Barro.
>
> Innovation in the everyday technology that regular consumers use, such as
> depositing a check by taking a picture with your smartphone, has come from
> outside the industry.
>
> Banks have been partnering with startups, but Krawcheck calls this
> "outsourcing innovation because the banks' money fuels the startups, which
> in turn give the banks a spot in the tech world.
>
> You can hear more of Krawcheck's comments here
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3dhbGwtc3RyZWV0LWhhc250LWhhZC1hbi1pbm5vdmF0aW9uLXNpbmNlLXRoZS1hdG0taGVyZXMtd2h5LTIwMTYtOD9JUj1U/56aba51e8cc2b2cd6dfb4946Bc76f4fd0>
> .
>
> Five in Focus
> 1
>   Lyft reportedly tried to sell itself to Uber and several other
> companies, but failed. The startup has refused to comment on these reports. Read
> more »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3JlcG9ydC1seWZ0LXRyaWVkLXRvLXNlbGwtaXRzZWxmLXRvLXNldmVyYWwtY29tcGFuaWVzLWxpa2UtdWJlci0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946Ba4553181>
> 2
>   The CEO of $3.8 billion workplace messenger Slack has a clever idea to
> help people get off work early, as he thinks chatbots will become "the
> browser and the command line for enterprise." Read more »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3NsYWNrLWNlby1zdGV3YXJ0LWJ1dHRlcmZpZWxkLWFuZC1ib3gtY2VvLWFhcm9uLWxldmllLWJvdHMtbWFraW5nLXdvcmstbW9yZS1lZmZpY2llbnQtMjAxNi04P0lSPVQ/56aba51e8cc2b2cd6dfb4946B3c64fdf9>
> 3
>   Facebook has made a surprising move that could breathe life into its
> one shrinking business. Revenue from payments and fees has been trending
> downwards, but Facebook's new "all-new PC gaming platform" could start to
> change that. Read more »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2ZhY2Vib29rLXBjLWdhbWluZy1jb3VsZC1yZXZlcnNlLXBheW1lbnRzLXJldmVudWUtZGVjbGluZS0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946B2c7768b4>
> 4
>   Some security experts believe the NSA hack proves that Apple was
> correct in its stance on user privacy. Read more »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL25zYS1oYWNrLWFwcGxlLWZiaS0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946Ba21f82b0>
> 5
>   Chinese selfie app Meitu is preparing to go public with a $1 billion
> IPO on the Hong Kong stock exchange. Read more »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy53c2ouY29tL2FydGljbGVfZW1haWwvY2hpbmEtc2VsZmllLWFwcC1tYWtlci1tZWl0dS1wbGFucy1ob25nLWtvbmctaXBvLXdvcnRoLXVwLXRvLTEtYmlsbGlvbi0xNDcxNzY0OTY0LWxNeVFqQXhNVEEyTkRJMk1UY3lPREUxV2o_SVI9VA/56aba51e8cc2b2cd6dfb4946Be680b3b4>
> Report of the Day
>
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2FwcGxlLWhvbWUtd2lsbC1kby1saXR0bGUtdG8tc3B1ci10aGUtc3RhZ25hbnQtc21hcnQtaG9tZS1tYXJrZXQtMjAxNi04P0lSPVQ/56aba51e8cc2b2cd6dfb4946B9a1205de> The
> First Look at Apple Home
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2FwcGxlLWhvbWUtd2lsbC1kby1saXR0bGUtdG8tc3B1ci10aGUtc3RhZ25hbnQtc21hcnQtaG9tZS1tYXJrZXQtMjAxNi04P0lSPVQ/56aba51e8cc2b2cd6dfb4946C9a1205de>
>
> In this report, we analyze the finally complete Apple Home ecosystem. We
> examine the Apple Home app, as well as HomeKit, and discuss it's potential
> effect on the overall do-it-yourself smart home market.
> Learn More »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2FwcGxlLWhvbWUtd2lsbC1kby1saXR0bGUtdG8tc3B1ci10aGUtc3RhZ25hbnQtc21hcnQtaG9tZS1tYXJrZXQtMjAxNi04P0lSPVQ/56aba51e8cc2b2cd6dfb4946D9a1205de>
> Briefing Highlights
> The VR and AR Market Will Hit $162 Billion by 2020
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3ZpcnR1YWwtYW5kLWF1Z21lbnRlZC1yZWFsaXR5LW1hcmtldHMtd2lsbC1yZWFjaC0xNjItYmlsbGlvbi1ieS0yMDIwLTIwMTYtOD9JUj1U/56aba51e8cc2b2cd6dfb4946B50e273d6>
> *Via Apps and Platforms Briefing* | Subscribe Here »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2ludGVsbGlnZW5jZS9tb2JpbGUtaW5zaWRlcj9JUj1U/56aba51e8cc2b2cd6dfb4946Bbbad6b6e>
>
> Total revenue for virtual reality (VR) and augmented reality (AR) is
> projected to increase from $5.2 billion in 2016 to over $162 billion in
> 2020, according to the IDC. Read More »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3ZpcnR1YWwtYW5kLWF1Z21lbnRlZC1yZWFsaXR5LW1hcmtldHMtd2lsbC1yZWFjaC0xNjItYmlsbGlvbi1ieS0yMDIwLTIwMTYtOD9JUj1U/56aba51e8cc2b2cd6dfb4946C50e273d6>
> How NBC Can Salvage Future Olympics Broadcasts
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2hvdy1uYmMtY2FuLXNhbHZhZ2UtZnV0dXJlLW9seW1waWNzLWJyb2FkY2FzdHMtMjAxNi04P0lSPVQ/56aba51e8cc2b2cd6dfb4946B8c3f9ee9>
> *Via Digital Media Briefing* | Subscribe Here »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2ludGVsbGlnZW5jZS9kaWdpdGFsbWVkaWEtaW5zaWRlcj9JUj1U/56aba51e8cc2b2cd6dfb4946B4b7be7ad>
>
> NBC’s TV ratings for the Olympics are down 17% compared with the 2012
> Summer Games in London, creeping dangerously close to the “nightmare” 20%
> threshold described by the network’s CEO Steve Burke. Read More »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2hvdy1uYmMtY2FuLXNhbHZhZ2UtZnV0dXJlLW9seW1waWNzLWJyb2FkY2FzdHMtMjAxNi04P0lSPVQ/56aba51e8cc2b2cd6dfb4946C8c3f9ee9>
> Theft Is Erasing Some of Self-Checkout's Benefits
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3RoZWZ0LWlzLWVyYXNpbmctc29tZS1vZi1zZWxmLWNoZWNrb3V0cy1iZW5lZml0cy0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946B3e88bbfc>
> *Via Payments Briefing* | Subscribe Here »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2ludGVsbGlnZW5jZS9wYXltZW50cy1pbnNpZGVyP0lSPVQ/56aba51e8cc2b2cd6dfb4946B91993e07>
>
> A study of self-checkout kiosks in Belgium, the Netherlands, the U.K., and
> the U.S. found that self-service checkout technology likely increases
> shoplifting. Read More »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3RoZWZ0LWlzLWVyYXNpbmctc29tZS1vZi1zZWxmLWNoZWNrb3V0cy1iZW5lZml0cy0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946C3e88bbfc>
> The Amazon Echo Can Now Control The Hyundai Genesis
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3RoZS1hbWF6b24tZWNoby1jYW4tbm93LWNvbnRyb2wtdGhlLWh5dW5kYWktZ2VuZXNpcy0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946B8545e29a>
> *Via IoT Briefing* | Subscribe Here »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2ludGVsbGlnZW5jZS9pb3QtaW5zaWRlcj9JUj1U/56aba51e8cc2b2cd6dfb4946B005a948f>
>
> Hyundai announced a partnership with Amazon to allow drivers to use their
> Amazon Echo to control elements of their Hyundai Genesis. Users need to
> link their Amazon account to their Genesis Connected Car Services account
> to activate this feature. Read More »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3RoZS1hbWF6b24tZWNoby1jYW4tbm93LWNvbnRyb2wtdGhlLWh5dW5kYWktZ2VuZXNpcy0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946C8545e29a>
> Alibaba Is Looking to Expand in India
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2FsaWJhYmEtaXMtbG9va2luZy10by1leHBhbmQtaW4taW5kaWEtMjAxNi04P0lSPVQ/56aba51e8cc2b2cd6dfb4946B9920a7f3>
> *Via E-Commerce Briefing* | Subscribe Here »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2ludGVsbGlnZW5jZS9lY29tbWVyY2UtaW5zaWRlcj9JUj1U/56aba51e8cc2b2cd6dfb4946Bacce6021>
>
> Chinese e-commerce giant Alibaba has been in talks to acquire Indian
> online marketplace, ShopClues, an online marketplace that specializes in
> cheaper and unbranded merchandise and is aimed at price-sensitive shoppers. Read
> More »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2FsaWJhYmEtaXMtbG9va2luZy10by1leHBhbmQtaW4taW5kaWEtMjAxNi04P0lSPVQ/56aba51e8cc2b2cd6dfb4946C9920a7f3>
> U.K. Crowdfunding Platform Breaks Funding Record
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3RoaXMtdWstY3Jvd2RmdW5kaW5nLXBsYXRmb3JtLWhhcy1icm9rZW4tYS1mdW5kaW5nLXJlY29yZC0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946B89b5425c>
> *Via Fintech Briefing* | Subscribe Here »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL2ludGVsbGlnZW5jZS9maW50ZWNoLXJlc2VhcmNoLWJyaWVmaW5nLWRhaWx5LW5ld3NsZXR0ZXItcmVzZWFyY2g_SVI9VA/56aba51e8cc2b2cd6dfb4946Bc4d589f0>
>
> Last week, Crowdcube revealed that it raised $11 million. This is the
> largest U.K. crowdfunding round to date, and more than double the previous
> record of $5 million raised by money management fintech GoHenry. Read
> More »
> <http://e.businessinsider.com/click/7442087.61914/aHR0cDovL3d3dy5idXNpbmVzc2luc2lkZXIuY29tL3RoaXMtdWstY3Jvd2RmdW5kaW5nLXBsYXRmb3JtLWhhcy1icm9rZW4tYS1mdW5kaW5nLXJlY29yZC0yMDE2LTg_SVI9VA/56aba51e8cc2b2cd6dfb4946C89b5425c>
> Chart of the Day
> The importance of open hardware in the IoT
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