At the 2011 GSMA Mobile Money Summit, Dickson Chu, Head of Global New Product Development & Alliances at Citi, claimed that the traditional strengths of banks in areas such as trust, security and regulatory compliance mean they must continue to play a key role in the emerging mobile money ecosystem. Chu acknowledged that banks remain "conservative organisations" and admitted that "most of the great innovations in payments didn’t come from banks." And he warned that the rapidly evolving mobile money market "must not relegate us to becoming a dumb pipe." His solution was to work towards a so-called "hybrid model" that combines the "bank grade" traditional payments model with the new advertising-funded models being rolled out by the likes of Google and Apple.