Category: Business Models

Business Models

Transumers | implications and opportunities for Banks

Colin Henderson

During the LIFT conference sessions on “Cities of the the Future” sessions, these trends came up repeatedly – consumers as entrepreneurs (think eBay sellers) and desire to not own everything (Transumers is a new term to me but we can go with that). Thanks for Springwise for this excellent link. New Zealand-based Hire Things, which is currently in public beta, …… Think of it as eBay for renting goods. The company is an enterprising mash-up of two major trends: minipreneurs (consumers turning into entrepreneurs) and transumers (consumers becoming less interested in owning). Source: Springwise: new business ideas for entrepreneurial minds. … Continue reading Transumers | implications and opportunities for Banks

Business Models, Self Service2 Comments

The Bank of the Future | some thoughts on the world of cross-channel sales and marketing

Colin Henderson

 Just prior to the recent NetFinance conference I was lucky enough to be asked by Dan at eStara to answer a few questions, which were posted on their blog.  Its been a couple of weeks now, and thought I would place them here too.  Meantime please check out eStara and their blog.  They do a good job at covering many aspects of multichannel development, and not getting caught up in promoting their own products, which incidentally are good, as I can attest from personal experience.  Anyhow here is the email interview we did, and I relate this to my earlier post … Continue reading The Bank of the Future | some thoughts on the world of cross-channel sales and marketing

Business Models, Web/Tech

Zopa claims Windows Live first to make it easier to invite new members

Colin Henderson

 Smart innovation at Zopa, utilising Live ID API. Zopa is the first company in the world to adopt the Windows Live ID Contacts API which allows members to link their email contacts list to Zopa, making it easier to invite new members. Zopa’s ‘Member get Member’ scheme rewards users for recommending the service to new lenders or borrowers who go on to make transactions – £30 for each new member. Source: Zopa claims Windows Live first – Financial Services – Breaking Business and Technology News at silicon.com   Technorati tags: Zopa, Windows+live, Live+ID+API Continue reading Zopa claims Windows Live first to make it easier to invite new members

Business Models2 Comments

NetFinance2007 meeting notes – Verity Credit Union employee blog

Colin Henderson

These examples were the best part of the meeting for me – First Shari. My take:  this is a unique and powerful effort that gets as close to the Cluetrain as I have seen.  engagement of employees, with each other and with customers, and that was the Cluetrain message.  The openness will bring enormous benefits to all, such as a recent post from an employee that highlighted certain internal customer processes.   I think that was a good thing – either the process is right and will be justified, or its wrong and the CU should change it.  Either way the customers will win.  … Continue reading NetFinance2007 meeting notes – Verity Credit Union employee blog

Business Models, Profitability

NatWest is taken to court over bank fees

Colin Henderson

 The matter of Bank service charges, or fees, is being attacked on the consumer fairness front in the UK.  Although the real cost to banks of bounced payments and exceeded overdraft limits is only around £2.50, controversial charges of up to £39 can be levied on consumers. Over the past few months, thousands of people have threatened their banks with legal action if they refuse to refund money taken in charges. But the banks have always succeeded in settling before claims could reach courts. The Office of Fair Trading was due to rule on the matter last month, but delayed … Continue reading NatWest is taken to court over bank fees

Business Models, Innovation3 Comments

Enterprise 2.0 – current state of use of web 2.0 tools in Banks and Credit Unions

Colin Henderson

Don puts a positive spin on the McKinsey and other articles regarding Enterprise 2.0, which we covered here … roughly defined (my definition) as the transformation of Enterprise technologies to accommodate Employee to Employee, Customer to Customer, and Employee to Customer interactions. These changes would bring about increased “collective intelligence” than exists today. Don is rightly looking at all firms … I was focussed on the fact that Banks lag, and will continue that theme below. The numbers McKinsey provides from actual business leaders seems to indicate that broad, active interest in collective intelligence is rapidly forming in the offices of … Continue reading Enterprise 2.0 – current state of use of web 2.0 tools in Banks and Credit Unions

Business Models, Social Lending, Social networks1 Comment

Banque 2.0 – why its an effective model for Banking

Colin Henderson

Nicolas analyses the idea of Banking business models with Community as a base.  What I found interesting is how he pulls out the distinctions in Zopa and Prosper as different but effective community models. hat tip Jean Christophe  J’en tire pour conclusion qu’il existe deux modèles de Banque 2.0 : – Modèle “Top down” : Le portage du modèle de la banque dans le mode de fonctionnement des communautés. – Modèle “Bottom up” : L’extension à l’ensemble des communautés d’un modèle d’intermediation monétaire inter-personnel. Google translation I draw some for conclusion which there are two models of Bank 2.0: – … Continue reading Banque 2.0 – why its an effective model for Banking

Business Models, Innovation, Payments2 Comments

Online consumers in 20 countries can now shop, play and pay online without debit or credit cards

Colin Henderson

 Interesting development here. Recently I saw something about a Chinese venture called QQ for online payments.  Now here is Ukash in Europe.  Currently issued in the UK, Ireland, Spain and Germany, Ukash is now available for the millions of consumers in 16 additional countries across Europe who don’t have or don’t wish to use credit or debit cards online. Source: Finextra: UKash expands across Europe Place this in context of my earlier post regarding online security… aside form the obvious money laundering issues, this type of payment is one way for a customer to insulate themselves from identity theft, by reducing … Continue reading Online consumers in 20 countries can now shop, play and pay online without debit or credit cards

Business Models

IBM and globalisation | the three phases of the global enterprise

Colin Henderson

 Contained in this piece talking about IBM and their recent investors day held outside US for the first time, in Bangalore, India, is a nice summary of the three stages of the global enterprise. Home country base – overseas sales offices Mini HQ’s spread around the world globally integrated – 1 HQ, with work placed in the appropriate country(s) based on cost, skills, and local business environment In a speech last year at INSEAD business school in France, Mr Palmisano set IBM’s Indian move in the context of the modern multinational company. This, he said, had passed through three phases. … Continue reading IBM and globalisation | the three phases of the global enterprise

Business Models

2007 Networked Readiness – Country ranking

Colin Henderson

 I have been reading this ranking all week.  The big news is the significant drop of the US and Canada, as European countries leapt up. I felt that at LIFT in Geneva.  While Silicon Valley and the US is tacitly referred to as the leaders, its clear that the thought leaders are in Europe. The sixth annual Global Information Technology Report from the World Economic Forum (WEF) in Geneva compares 122 countries on dozens of criteria, from Internet penetration to educational attainment to availability of venture capital. Source: 2007 Networked Readiness Here is the top 30. Many factors are taken into … Continue reading 2007 Networked Readiness – Country ranking