« Things worth reading, the European view | Main | Things worth reading: 22nd March 2012 »

March 21, 2012

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a01053620481c970b0168e90e6c37970c

Listed below are links to weblogs that reference Innovators break the rules: here comes Apple's iWallet:

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Viv

Apple has never been an innovator. They are a classic 'second mouse gets the cheese' player.

MP3 players came before iPods, PCs were around before Macs, tablets were around before iPads.

What Apple does well is produce something that is better than the competitors; many businesses do this - no innovation required. In fact, few innovators do well out of genuine innovation. I think this is because engaging the market is far more important than innovation.

With mobile payments, it will be interesting to see the roles that banks, mobile operators and payment processors will play - and which ones may become redundant...

Cars

Apple is most definitely an innovator. In fact I'd call them the quintessential innovator (post-1997). All the examples listed by Viv are perfect examples, as Harold Evans coined it “Inventors seek the promise of the unknown, while innovators realize the promise of the known.”

With the iWallet, I'd not be surprised if the next iPhone release "coincidentally" coincides with a "super-growth" in mobile payments usage.

Viv

Interesting point, Cars. I suppose it raises the question: what is innovation? In my mind (admittedly influenced by personal bias) Apple has the ability to lock in the customer - and I'm not sure whether it is through innovation or just slowing owning parts of your life to the point you are fully owned. The iCloud scares me in that respect - all my data, contacts, photo's etc is going to be in the iCloud making it very hard for me to change provider...

obey hats

What Apple does well is produce something that is better than the competitors; many businesses do this - no innovation required. In fact, few innovators do well out of genuine innovation. I think this is because engaging the market is far more important than innovation.

With mobile payments, it will be interesting to see the roles that banks, mobile operators and payment processors will play - and which ones may become redundant...

Steve


So we’ve just learned that apple have $10bn to buy back shares from an estimated wallet of $100bn…

And now we see their latest patent.

What’s next iBank?

Ncockerh

I'm keen to see how this aligns with the premise "theme of consuming visual and audio content"?
Also, what about the principles of Good to Great (Jim Collins) - which proposes too much diversification from the core competencies risks bringing in the wrong people to the wrong culture and losing momentum and focus.
I completely agree with the premise that banking needs to actually be threatened by a radical new model like ewallets where the traditional belief is banks manage customers is flipped and customers manage their banks. Whether Apple is successful in this space or not, this is definitely an area for radical change - will an existing bank be first mover, will they fund a lab or external startup to do this or will it have to be a new startup and the banks fast follow or acquire?

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Comments are moderated, and will not appear until the author has approved them.

Search blog


Your email address:


Powered by FeedBlitz

Become a Fan

Twitter FSClub

    follow me on Twitter
    Amazon Digital Bank

    Financial Brand Editor's Choice

    Alex: The Finanser BlogAlex at the Financial Services Club
    Gaping Void: The Finanser BlogGaping Void's Hugh MacLeod worked with the Finanser
    Wordle: The Finanser Blog

    The Financial Brand

    NetBanker

    Payments News - from Glenbrook Partners

    Payments RSS

    Tomorrow's Transactions blog

    Analytics