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

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

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

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

Reflecting what is presumably a customer requirement for the area, Wells have added online banking terminals into their branches in Oregon, and SW Washington, to promote online services. Despite online surge, branches are alive and well – Puget Sound Business Journal (Seattle): the Internet is Wells Fargo’s most popular service channel. The number of online sessions logged by its customers each month is now greater than the number of transactions customers make each month — collectively — at branches, ATMs and over the phone. Technorati Tags: bank_branch Continue reading Wells Fargo adds online banking to its branches in Oregon

Despite the positive comments here, I believe account aggregation as a stand-alone concept is dead. Customers didn't get it, saw no incremental value, and in fact were scared of it, because of having to share online sign in credentials. However, and perhaps thats where Robert is going with his post, it will be a valid component in development of other services in the future, and it will be bank changing in its significance. WebCPA | Tools and Resources for the Electronic Accountant – An Investcorp and SourceMedia Publication Since a search of the Intuit Web site yields no hits for … Continue reading Account aggregation is dead, long live account aggregation