This is a seismic shift in consumer attitudes against In-store diversification in grocery stores.  It could be that in 2002, consumers saw it as newer, but are not getting tired of it.  51% of consumers want supermarkets to focus on food Although the percentage of respondents buying or using none of the suggested products or services was significantly lower in 2006 than in 2002, the percentage of those who held the opinion that supermarkets should concentrate on their food offering had dramatically increased over the same period (51.3% of respondents in 2006, compared with 24% in 2002). Continue reading The future for Instore services is not clear

Viewpointe is the largest image archive in the US. Finextra: Harris Bank selects CSC and Viewpointe for electronic imaging (2004) Harris Bank selects CSC and Viewpointe for electronic imaging Harris Bank, part of the BMO Financial Group, has signed a multi-year agreement to utilise Viewpointe and CSC electronic imaging systems. In more recent news, Viewpointe have contracted with IBM has signed a five-year, $174 million deal with IBM for the development of a new national cheque image archive. All the big banks in the US are users. The deal calls for IBM – which is also a minority owner in … Continue reading Harris Bank selects CSC and Viewpointe for electronic imaging

Found this old speech from the 2001 Forrester Forum.  Interesting to contrast, and see how far the industry has come, yet still the big banks have a long way to go.

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Fannie Mae

Let me thank Forrester Research for helping investors to understand the New Economy and the fact that a company can be a winner even if it happens to make money.

I appreciate the opportunity to show how a Fortune 50 financial services company like Fannie Mae can harness the technology of the New Economy to be a leader in what we call the Permanent Economy. In fact, let me report today that Internet Week magazine has just named Fannie Mae their “E-Business of the Year in Financial Services.” As the magazine said, “Fannie Mae has almost overnight become one of the nation’s premier e-businesses.”  If you’re wondering how a 63-year-old company in the secondary mortgage market became an E-Business success, we did it by embracing two key trends.

First we fully embraced what Forrester calls “open finance.” As Forrester has pointed out, the trend in financial services is that large-scale, strongly branded firms will collect and offer their consumers the best financial products available anywhere in the market — the best credit card, the best insurance, the best mutual fund, the best mortgage. Not just the in-house brand, but the best product available. And the winners in this trend will be financial companies that specialize either in making the products, or distributing them. They won’t try to do it all.

Continue reading “Remarks delivered by Franklin D. Raines, Chairman and CEO, Fannie Mae, June 12, 2001”

Jon Kaplan, Head of Financial Services at Google spoke about leveraging Google for marketing purposes.  Some key points from his talk: Online /offline doesn’t matter to them – its all marketing and how it ties together across channels several examples, all Japanese, provide clues to the future bill boards, with QR code, that can be read by a phone, to receive offers location advertising to your cell phone, based on where you are physically, what merchants are in the same place, and presented on your cell phone Google trends to help sort out the clutter frequency of search terms, and … Continue reading Google and financial services

Harley Manning from Forrester, spoke eloquently at the Financial Forum keynote this morning.  He has developed a measurement for brand image, and brand action on your web site.  He made the case that people get confused when there is no framework for making a decision, and this particularly applies to web sites.  He advocated the use of persona’s to centre decision makers from disparate groups on assessment and design questions.  Such groups, would be Marketing, Product & Channel. Using the 14 sets of criteria, he made the point that the linkage between that which companies say their brand represents, and … Continue reading Brand action and brand image are critical considerations for your website

Yahoo spoke for an hour, and I think surprised many people.  Topics covered; the value of social search – example, yahoo answers – 10 million answers in 5 months how customers rely on friends and family as part of the purchasing process examples of financial services opening up their brands to social computing Visa – Lifetakes HSBC – pointofview.com I would also add to that, Wells Fargo – In History They spoke of the engagement metric, and the relevance of the portfolio of considerations, used to understand how customers get to their decision the value of product comparison – Progressive … Continue reading Yahoo provides perspective on financial services online

Bruce Tempkin opened the conference with a great speech, telling Banks to get rid of the siloes.  Not the usual organisational siloes though. He talked of siloes in marketing, products, channels, everything in terms of how we talk to customers. Key change drivers: changing customer needs intense competition new capabilities Solutions were listed, and generally were all tied to listening and thinking about the customer. His watchword was “help customers make good decisions”.  The opposite to siloes is responsiveness.  Social computing comes up a lot, as a means to responsiveness.  Thats as much detail as I will post publicly.  Good … Continue reading Blow up the siloes

Well, today and tomorrow I am at the Forrester conference in NY. Just visited the trade show, and some interesting people there. Agencies – Organic, and Razorfish Every email & chat company you can imagine – Claremail, Strongmail, online lead companies, like Leadfusion Google, Yahoo, and Liveperson – must spend more time there RSA and PassMark – interesting, that RSA are promoting Passmark big time Webtrends, and Interwoven More to come throughout the day Its great they have a network set up, with decent speed too. Even more interesting though, compared to MESH last week, I don't see any other … Continue reading Forrester Research Conference – New York

Well, I’m here in NY for the Forrester Forum tomorrow. Looking forward to this one. Last week we had MESH in Toronto, which was the perfect lead in to this conference. Forrester are good at making us look at the Financial Services industry critically to understand where the competition is taking us. Anyhow, I think they have a network this year, so expect some liveblogging. Technorati Tags: Forrester_finance_forum Continue reading Forrester Research: Finance Forum 2006

I saw this the other day, but when my wife mentioned it just now, what really struck me is the disruption effect this will cause to telecommunications forever.  The Bell’s, AT&T’s, Verizon’s etc must be absolutely scared right now. Skype – The whole world can talk for free. Calling people on Skype is totally free. It’s also free to call landlines and mobiles within the US and Canada until the end of the year. So what would it take for banks to get that kind of scare.  Arguably its already started with Zopa, & ING, but there is no big … Continue reading Skype: free calls anywhere in North America