With all the bad news coming out of the Middle East at the moment, its good to report about something great happening in this sector – its a pity its not being talked about more in the current climate.
Israel – the start up nation
Israel’s often dubbed the start-up nation because of its unique tech ecosystem. But tech-savvy Israeli-Arabs have struggled to compete with Tel Aviv’s unique tech scene, because of the geographic distance from the centre of the country, limited funding, restricted social network access and by not being allowed to serve in the army, which funds a lot of technical research.
But despite these barriers, a vibrant tech cluster is emerging in the Arab community, centred around Nazareth. The birthplace of Jesus is also an Arab town where Muslims and Christians live side by side. Its surrounding neighbourhoods are now establishing a reputation as the hub of Arab entrepreneurship and innovation in Israel.
Coming to the UK
Organised by the UK Israel Tech Hub at the British Embassy in Tel Aviv, a delegation of Israeli-Arab entrepreneurs is meeting the UK Secretary of State for Business, Innovation and Skills, Sajid Javid MP, in London today, (2nd December, 2015) as part of a three-day tech trip to talk to some of the capital’s most innovative technology companies and services. Israel’s seeded 7,000 start-ups in the past decade, more than any other country outside the US. But the nation’s Arab minority faces many obstacles within this thriving sector.
The UK Israel Tech Hub at the British Embassy in Tel Aviv is a public-private initiative investing in Israeli-Arab rising-stars, helping them develop their skills and foster business relationships abroad. By encouraging them to set the UK as their destination to grow and expand globally and inspire the next generation of entrepreneurs, who’ll have a better chance of becoming part of the Israeli economic mainstream.
In a time when political correctness and ticked boxes dominate business, its great to see credit going to someone who truly deserves it.
Harriet Green, the dynamic CEO of the now re-vitalised Thomas Cook holiday group has been recognised with a prestigious Veuve Clicquot Business Woman award.
Harriet became CEO in July 2012 – after having the courage to cold-call the Company’s chairman. Just 12 months later, she’d designed and launched a bold strategy that focussed on digital leadership, new product innovation and placing customers at the very heart of the business. In the last year, the business refinanced and unified its many brands under the new ‘Sunny Heart’ umbrella, with the Group’s 27,000 employees working as one global team across 80 countries to deliver the transformation. Today, the share price has risen around 950%. An incredible achievement.
“Madame Clicquot transformed her family business through belief, innovation, and a ‘can do’ attitude, which are as relevant today as they were then, and I’m honoured to accept the Veuve Clicquot Business Woman Award on behalf of everyone at Thomas Cook as we continue to transform our business, just like Madame Clicquot did, through innovation, belief and our ‘can do’ attitude,” said Harriet.
“Madame Clicquot was truly one of the first real businesswomen of our age. I’ve long admired her spirit, courage, and determination. She and the original Mr Thomas Cook were of the same generation and together they created two amazingly powerful brands, whose heritage and promise clearly live on today – over 170 years later.”
Lloyds Banking Group is the latest shady bank to receive a slap on the wrist from the FCA. In fact, the $45 Million fine meted out for gross financial mis-selling is the biggest to date. But it won’t change things one little bit. Why do I say this?
You know, no matter how much you explain, some people never manage to get it. Take Wonga and the thorny question of APR, for example. Now I’m not going into compound interest’s mysteries and related technobabble. Let’s just look at the reality of how life is and take it from there.
Before the crash, we trusted banks and most of us funded our lifestyles with credit. Nowadays, most people are recovering from first-degree finger burns and avoid credit like gasoline on bonfire night.
But life still bites. You still get unexpected bills that threaten the next meal’s arrival. And if that happens – and you’re smart – you’ll appreciate Wonga…
If our high street merged, what would you take from each to form one super bank? I’ll leave you for a minute to have a think about that one.
For all banking’s “talent” and money, why so little to choose between each one? Why can’t we find a killer product or even one differentiator?
How can this be – in other sectors key differences exist. Why not in banking?
A writer who I follow was bemoaning the lack of change in banking the other day. Now the point was perfectly valid – until he took a pop at P2P lending. As I follow social banking – and as one of its great supporters, I had to disagree. But it raised an interesting question. How do we measure disruption?
The writer in question was James Gardner, who’s the general manager of Spigot, the leading business process software vendor in the innovation space.
In theory, he should know. But then he suggested that it could be “nearly 100%”. That sure had a disrupting effect on me – because that’s plain silly…
Business as usual for the global auditors. Its just like there was no banking crash. Pricewaterhouse Coopers – PwC – has just published its results.
Three things jump off the page to me. And each mind-numbing fact reminds me just how stupid banks and enterprises really are.
Firstly, PwC two main businesses turned over £900 Million and £650 Million each. The next is that UK Chairman Ian Powell will net a bonus of £3.7 Million.
And thirdly, they took on 1,200 graduates – average age 24 – to work with clients. Congratulations. That waste-of-space intern is now costing you £2,500 a day…
Ever stopped for a moment to consider exactly what is banking really all about? Could a lawn mower be the key to change?Not any old lawn mower. But Bosch lawn mowers – and how they came about. Because this is about re-invention at a very dark time. A time not unlike now.
About how a company faced with a collapsing market found the vision to change. Emerging stronger and able to cope with an even greater challenge to follow.
Once upon a time, we thought US financial policy was decided democratically. That concept was blown away like a dollar bill in Hurricane Katrina.
The US government in reality is no more than some crude Punch & Judy show, the strings being pulled by a financial Mafia run by Wall Street and its lobbyists. Everything neatly stage-managed by a company called Standard & Poor.
Standard & Poor was perceived as the US financial world’s steadying influence. The trusted hand deciding the efficacy of decisions taken on Wall Street.
The banking crash revealed a startling fallibility – but was that the real story?
They must have made us buy millions of wallets. I’m talking about plastic cards. They became an obsession – even something we collected. Colourful, pictorial, themed, silver, gold, platinum, even black. We had them all. Pushed by banks and card companies desperate to part us from whatever cash the Government hadn’t taxed us on, we let them cause our own credit crunch.
But finally, the tide is turning. Its not just consumers who are abandoning them. The banks can’t wait to get rid of their dried up cash-cow too.
How come most companies think having PowerPoint more important than CRM? CRM comes last, after email, office productivity and accounting. Everybody knows, we’re told often enough, that looking after customers is vital. But as a process, many companies don’t see it as that important.
In fact, most companies don’t think about managing the relationship with their customers until something goes wrong and they find they can’t.
Ironic, really. When you consider that CRM will start to deliver benefits instantly, the moment you roll it out to your users. Let’s take a look…
Just a few months ago, I had high hopes for what Tesco bank might achieve. Even with Fred Goodwin fan-boy Benny Higgins in charge. But the recent prolonged outage for so many customers has been handled badly. And Benny Higgins has shown his old-school banking colours.
Given the opportunity to show strength and courage, he chose to make excuses. Instead of holding his hands up, he chose mitigation.
Every new venture has a wobble. He could have shone, but he blew his chance. Not only does Tesco have the wrong boss, it has the wrong staff. Here’s why…
OK, regular readers will know I’m not buying the hype around SmartPhone NFC. This is for a number of reasons and none of which are about it being new. I’ve talked about security, why quick isn’t a good reason, but that’s not everything. The real show-stopper to me is market reach. NFC just won’t fit the market.
Every other payment system before NFC reached its market cheaply and quickly. Now I’m going to show just how far NFC will fall short. Time to wake up…
Although owned by Royal Bank of Scotland, NatWest isn’t as hated as its parent. Strange, because really NatWest’s no better – some may even say its worse.
I’d like to talk a little about NatWest, but lets concentrate first on RBS as a brand. What can be done with a brand so damaged it’s lost the trust of its market?
I love it when I come across great ideas. Like game changing, eureka moments. But it frustrates me when solutions appear for problems that don’t exist. Take NFC payment systems, for example. A clever use of the tech in our pockets. But who said we had a problem at the cash-out?
We, the consumers don’t. The retailers like the short delay as they get to up-sell. Maybe its the payment system providers who have a problem. Like card fraud?
Here’s the crazy thing about NFC. The security is actually weaker. Much weaker. NFC presents a far higher risk profile than any other system…
I’ve just read a Management Today supplement about West Yorks Fire Service. Remember how Public Service budgets are meant to be getting cut back?
It should have cost a tenth of that – and it’ll only reach 60% of their users…
Maybe the great bank holiday weather took many writers away for the weekend. But the number of “its all over for Cloud” rants were mercifully few.
So, what should be taken away from Amazon’s failure. What have we learnt? Well, its shown intelligent system design is as vital for Cloud as anywhere else. Along with how many “experts” can still talk through their back-ends…
Corporate security people and most security resellers wind me up. Always have. They constantly ignore the lessons life teaches us.
Life is constantly teaching us lessons. We deal with most things it throws at us. Security guys have a seizure when anything new appears.
Take Smartphones and the iPad for example. These guys are paid to know stuff. But they’re crap at doing their job because they can’t cope with the new.
The fall-out has still to settle from one of the greatest tragedies of recent times. While the furore and finger-pointing surrounding it will take a lot longer.
Given the prevailing circumstances, the technology behaved entirely predictively. The technology didn’t fail, we failed to manage it. Could we fail with NFC?
Quite a reaction last week when the news broke about the RSA SecureID breach. Someone may now know how to compromise two-factor tokens. Whilst every villain knows how to work around two-factor authentication anyway, the exposure of the underlying algorithm should have been viewed as inevitable. Before I’m castigated for saying this, let me explain…
My apologies for this deviation from my usual style. But we need some help. A lot. Not for some worthy charity, but for a nation. Britain is being dragged deep under water by BT, after we survived the shipwreck caused by the SS Banking’s collision with a financial reality iceberg.
We must divorce BT from the cosy relationship it enjoys with central government. Its smug monopoly on the mechanism for change, its incompetence.
We need a publicly revered figurehead to drive this forward. A digital Joan d’Arc. Martha, we need you.
You see, this speed carries one big penalty. Security. Not for the device, for you. The transaction is now so fast, it can’t be fraud-checked conventionally.
“Contactless” means just that. No contact from either side – counter or customer. There’ll be no alerts, no chance to stop a fraudster. Or is there?