The World's Most Innovative Financial Services Company
Business Week and the Boston Consulting Group have published their latest ranking of the world's most innovative companies. Which financial services companies made the list? Who's the most innovative? Read on...
No surprise, Apple comes out on top.
Among financial services companies, coming in at number 37 is Capital One. Australia's Macquarie Bank is number 62. ING Bank nails number 68. That's it for the "traditional" financial services players.
Google comes in at #2 - but Google can hardly be known (yet?) for its payments innovations. eBay slips to #18 - and brings PayPal along. And GE's #6 but GE's financial services businesses are just a small component of that company's businesses.
Nowhere to be found: Visa or MasterCard - or American Express or Discover. Innovation in contactless payments apparently hasn't hit the big time yet. No First Data or TSYS or Fiserv or Experian or Equifax or TransUnion makes the list. And the big US banks aren't even mentioned - no Citi, JP Morgan Chase, Bank of America, not even Wells Fargo or US Bank or Wachovia. There's no mention of Chip and PIN in the UK, where the industry has spend tens of millions upgrading itself to smart cards.
So, where really is the innovation in financial services? Is it really with Capital One transforming itself from monoline credit card issuer into a retail bank via acquisition? This is real innovation?
Maybe PayPal Mobile or Google Payments makes the list next year? Or, maybe not? How about Pay By Touch with that biometric approach to payments?
Who do you think is the world's most innovative financial services company? Why? Post your thoughts in a comment below.
The world's most innovative financial services company?
That's an easy one, E-gold Ltd. www.e-gold.com
No charge backs :-)
Mark
Posted by: Mark Herpel | April 15, 2006 at 06:19 AM