Banks allow fingerprint access to accounts RBS said it has introduced the Touch ID service following feedback from customers who asked for the technology to be included in their mobile banking app on its Ideas Bank website. The technology replaces passwords and passcodes on a mobile phone application. From Thursday, individuals with an iPhone 5s, iPhone 6 and iPhone6 Plus will be able to use Apple’s Touch ID fingerprint sensor to check their finances, in what the bank claims is a first in Britain. Continue reading RBS announces Apple Touch ID to replace username and password

There is some more information apparently from the Kaspersky Report referenced yeasterday. The report was launched then pulled.  However it is still available at writing time here on this German site. It appears from reporting today from KrebsOnSecurity that these activities referenced in the report are part of an ongoing attack over several years.  There is no apparent newness here other than the Kaspersky Report, and they are not doing a very good job today of following up the hype they created yesterday.  The politics of security reporting aside, there are some real lessons here for banks to be concious of.   … Continue reading More on the Bank heist – Kaspersky report pulled

More on the shifting demographics from PwC. Millenials at Work Millennials matter because they are not only different from those that have gone before, they are also more numerous than any since the soon-to-retire Baby Boomer generation –millennials already form 25% of the workforce in the US and account for over half of the population in India. By 2020, millennials will form 50% of the global workforce.  Continue reading Millenials will form 50% of the global workforce by 2020 – PwC

Chris Skinner summed Omnichannel perfectly suggesting it is “so last century, please delete it”. Knowing Chris there is only so much dry sarcasm in that statement.  For me I have no idea why, when when 10 years ago we looked at branch, ATM, telephone and internet banking and we called it multi channel banking, we are now we are going into convulsions in attempts to define OmniChannel banking.  We added what, mobile, and now we have to shift to another word? The Financial Brand is still falling into that trap I hate to say when they get sucked into the argument with  “Digital … Continue reading OmniChannel vs Strategy

Looking backwards we can readily see the impacts of large demographic cohorts on economy, fashion, trends, and yes – banking. Past examples: housing value growth stock market growth cruise ship growth fast food growth music and radio genre rise and fall Lately I have been sensing we are in the midst of another big shift from the Baby Boomer cohort.  That cohort is age 51 – 69.  That would place them in the stock market/ cruise ship group.  Despite being the largest cohort, their income is flat, savings flat having already largely inherited from parents, and they are not going … Continue reading Signs we are in the midst of a demographic shift