Category: Innovation

Innovation, US

Blog summary – June 2006

Colin Henderson

Its been six months since I transitioned my blogs to Bankwatch, so thought I would take a look at my posting profile.  I felt I was getting shoe-horned into too many security and chip card posts, but turns out thats not the case at all.  Online Banking is dominating, and makes me thing that category might be too broad to be useful. Generally innovation, future concepts/ innovation, isn’t too bad, but could be higher.  But customer communications, marketing, and consumer trends should definitely be higher, because that drives everything, so expect more in those areas. Online Banking           … Continue reading Blog summary – June 2006

Innovation, US

OCC Ombudsman Shares Insight on Leadership Opportunities in Financial Services

Colin Henderson

Interesting speech which provides a compelling argument that banks (in US) are missing an opportunity created by the massive influx of immigrants.  That group whose language and culture is not English, are distrustful, and perhaps afraid of Banks, and are seeking alternatives that US locals would not consider, such as cheque cashing outlets.  He uses the example of someone who earns US $12,000 per week doing just that. OCC Ombudsman Shares Insight on Leadership Opportunities in Financial Services My concern, rather, is the narrower one involving the future of the banking industry. I’m here to ask whether the industry to … Continue reading OCC Ombudsman Shares Insight on Leadership Opportunities in Financial Services

Innovation, US1 Comment

ING is changing US deposit account marketing

Colin Henderson

The garish European influence shows in this simple offer from hsbcdirect.com with a high interest rating savings account, that is opened online. Getting Started The online deposit application should take approximately 10-15 minutes to complete. You can use this application for an individual or joint account. Citi are doing the same through a “direct” offer.  There are others, less well know such as Emigrant. These offers all share similar characteristics: high rate savings opened online advertising has strong use of colour, and as mentioned almost garish, hard on the eyes web design, clearly aimed to compete with the orange ING. … Continue reading ING is changing US deposit account marketing

Innovation

Lloyds TSB introduces instant online loan service

Colin Henderson

An excellent example of the next level for online banking, beyond basic transactions. At the bank, we already know enough about our customers for most loan activities, so why not trust them, and provide instant access to credit. Finextra: Lloyds TSB introduces instant online loan service UK high street bank Lloyds TSB has lauched an online loan service that gives Web banking cutomers an instant decision and instant access to the funds if they are approved. The new service, called QuickSign, is available to all Lloyds TSB’s online banking customers and works by using log-in passwords as an electronic signature … Continue reading Lloyds TSB introduces instant online loan service

Innovation, US

Online account opening – an idea whose time has come

Colin Henderson

Loans and mortgages online have become fairly standard, even though not that well done yet.  Yet deposits are the core of banking, and accounts are a cheap form of funding. GonzoBanker – Article Now, many banks are starting to eye the opportunity to sell and open more deposit accounts on the Web. For some, the thought is that niche products (money market, high-rate CDs) can be sold nationally without the need for brick and mortar. ING, NetBank and E*TRADE FINANCIAL have all been very successful with this strategy – ING has raised over $40 billion (uh huh, with a “B”) … Continue reading Online account opening – an idea whose time has come

Innovation

Barclays Bank turns to texts in fight against fraud

Colin Henderson

In what is fast becoming standard practise, and table stakes, Barclays offer mobile alerts.  This has historically been only the province of credit cards, such as Diners Club, but expect all big banks to offer this. Bank turns to texts in fight against fraud Barclays will send customers messages to their mobile phones to let them know of new payees in their account to alert holders to any suspicious transactions. Technorati Tags: online_banking, mobile_alerts Continue reading Barclays Bank turns to texts in fight against fraud

Innovation, Middle East

Financial Services mall opens in Bahrain

Colin Henderson

New concept for a mall, based on financial services. MENAFN – Middle East North Africa . Financial Network News: Kingdom’s first Financial Mall opens – Bahrain Bahrain’s first financial mall was yesterday officially opened in Adliya at an event held under the patronage of BMA Governor Rasheed Al Maraj. Customer convenience, and access are key considerations. The mall has been built to offer customers increased convenience, with an accessible location, dedicated parking, longer opening hours as well as telecommunications and insurance services, such as MTC-Vodafone and BKIC respectively. The architectural design is one of open and bright space, with ample … Continue reading Financial Services mall opens in Bahrain

Innovation5 Comments

ClairMail reduces call centre calls for account balance

Colin Henderson

Just met with the folks from ClairMail at the technology showcase.  They have an implementation at Wells Fargo, that lets customers SMS or email to Wells, and get back their account balance for their credit card or deposit account.  This is in response to the number of telephone calls they get while customers are out shopping, and need to know their spend availability.  So a $12 phone call is replaced by a cheaper email. Their model is subscription based, but not sure how sustainable that will be, because many are going for the subscription model now, and each of these … Continue reading ClairMail reduces call centre calls for account balance

Innovation

New Marketing 2 – MESH

Colin Henderson

Just watched Tara do her thing.  It would not do it justice to call it a presentation – it was a fabulous example of creating interaction, and discussion, and it hit the right level of powerpoint, video, and conversation.  Her piece is well covered here at random thoughts. Some key points she made, and spoke eloquently and passionately about were inbound, rather than outbound messages making tools available for a community, then getting out of the way being part of the community, not a tourist being 100% authentic advocating FOR your community to your company rather than the other way … Continue reading New Marketing 2 – MESH

Innovation

Off to Mesh Toronto

Colin Henderson

Mesh is Canada’s web 2.0 conference begins on Monday.  Looking forward to that, because its an excellent collection of the top names in blogging who discuss the evolvution of Web 2.0.  There are too many to list here, but some of the ones that I am particularly interested in are: Om Malik – from Business 2.0Dr Michael Geist – who writes about legal implications and internetTara Hunt – who has coined the pinkomarketing phrase to capture everything that marketing should beSteve Rubel – the prolific writer about Web 2.0, and one of the most popular bloggersStowe Boyd – thoughtful blogger … Continue reading Off to Mesh Toronto