Think Square Stand is a trivial piece of hardware? Think Square Market is an effort to compete with eBay and Amazon? Think again. If you are a merchant acquirer, it may already be too late to get your product team moving. Merchant acquiring is rapidly evolving into a product-driven environment with infinite opportunities for differentiation, but it revolves around Silicon-Valley-style innovation.
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Last week saw the release of the annual RBC Wealth Management/Capgemini World Wealth Report. Following a few bumps in AUM growth over the last five years, the 2013 version made for tantalizing reading for wealth managers and others interested in winning their share of the world’s high-net-worth individuals’ (HNWIs') riches. Globally, this financial elite, defined as those with at least US$1 million in investable assets, grew by 9.2% through 2012 to number 12 million and saw their collective asset base grow by 10% to reach its highest-ever sum: US$46.2 trillion.
If you believe that Apple will support near-field communications on its next iPhone, it's time to give up on that hope. At its June 10 World Wide Developers Conference in San Francisco, Apple announced iOS 7, a completely revamped version of the operating system for Apple's mobile devices. At least three major themes in the company's announcement scream that NFC is not in its near-term future.
EMV is coming! EMV is coming!
Switzerland's independent asset management (IAM) sector grew significantly from the mid-1980s through to the mid-2000s. At year-end 2011, up to 3,600 firms managed total client assets of up to CHF650 billion (12.3% of the Swiss total of CHF5.3 trillion). Basking in its cultural and operational differences from banks and operating within a far lighter regulatory environment, the sector offered an attractive option for bankers and clients alike.