This post in interesting and challenges typical boomer & Gen X patterns. Many teens are content (if not happy) to start over with most of their accounts in most places. Source: Ma.gnolia.com – Find Web Sites & Build Community Online What if next generations are ok with multiple identities?  What if they translate that into multiple bank relationships with not association? First of all, we Banks) are screwed!  Our architecture whether technology, product or channel, assumes customers are unified, and presume to remained that way. This is an example of a disruptive force that we need to understand.   Technorati tags: … Continue reading Need an identity…. create a new one!

 Fascinating insights captured by Shel in conversations with people associated with Tim Berners-Lee, the architect of the World Wide Web (www). For me, this was the big takeaway. It reinforced two points that keep coming up in everything I’m doing: There is no marketing force as powerful than the natural force of word of mouth. There is no corporate program that can does the shoes of credibility of the natural peer-to-peer enthusiasm that propels word of mouth to be fruitful and multiply. Vision is rarely the builder of great things. I’ve been working with entrepreneurs since 1979. Most fabled success … Continue reading Lessons from the architects of the web

Differentiation is a tough nut to crack.  It was prior to Internet, and remains, even now that we are neck deep, in sorting out new business models and approaches with Internet.  This from McKinsey in January 2006.  I post it now having been reminded by the word “tacit” in this McKinsey Quarterly.  One of these days, I am sure McK will get around to RSS. The next revolution in interactions,” shows that the shift from transactional to tacit interactions requires companies to think differently about how to improve performance and about their technology investments. Moreover, the rise of tacit occupations opens up … Continue reading The next (r)evolution – interactions

 Many things we take for granted online, are taking different routes in the Middle East.  This reasons are often driven by religion, but also by the nature of Government intervention. For me I await this eagerly, because the combination of innovation to ensure compliance with Sharia Law (Islam) and the learning from the West’s earlier efforts, can produce interesting innovation. January 21, 2007 6:43 AM Tehran, Jan 21, Taliya News  Secretary of Supreme IT Council said here Friday that most Iranian banks would offer electronic banking by (Iranian) year-end (March 20, 2007). According to ILNA, Abdol-Majid Riyazi added, “The required infrastructure … Continue reading TaliyaNews : E-banking to be fully launched in Iran by March 20th

This is a prize based savings account.  The work to develop it took place in conjunction with researchers at Harvard Business School and Filene Research Institute. While Centra Credit Union takes the prize as the first U.S. financial institution to put the Prize-based Savings idea to work, we believe many more will follow. See program details at http://www.insideindianabusiness.com. In addition, see the entire business plan posted in the i3 section. Source: Home : Filene Research Institute The encouragement to save more is the incentive to win prizes. Centra Credit Union’s program is called “Super Savings,” and is essentially a savings … Continue reading A Prize-based Savings account – more Credit Union innovation

 During 2006, BRAC secured $ 180 million in the capital markets to fund microcredit to the poor.  Financing was arranged by several with Citibank as lead. The connection of capital markets to microcredit is highly innovative, and time will tell if this trend continues. Some may view as junk bond type financing. The deal brought the global financial markets to the doorsteps of nearly 1.2 million households in Bangladesh. BRAC is the world’s largest national Non Government Organization (NGO) with over 5 million borrowers (mostly women) and 100,000 employees and BRAC focuses on poverty alleviation with funding given to village organizations … Continue reading Innovative BRAC microcredit securitization honoured

This quote from the guru of management nicely summarises the difference between Web 2.0 companies that have a point and those that don’t.  the business enterprise has two – and only two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs Source: Profitable Marketing: Quote of the Month – Peter Drucker Hat tip Adelino   Technorati tags: business+model, innovation Continue reading Peter Drucker – what matters …