Category: Innovation

Innovation5 Comments

“Gartner Says Banks Need to Be Ready to Take Advantage of the New Age of Social Banking” | Gartner

Colin Henderson

Interesting new report noted by Gartner.  I haven’t seen the report (hint hint) but the press release is appealing and fits with the general theme bankers need to get beyond their current problems, and look up for new directions and strategies. Gartner make the point that fundamental shifts are occurring online, and while not specific to banking, except in pockets, the directions at play are too fundamental to ignore as being permanent.  Sounds like an interesting report. Gartner Says Banks Need to Be Ready to Take Advantage of the New Age of Social Banking | Gartner “Currently many traditional bankers … Continue reading “Gartner Says Banks Need to Be Ready to Take Advantage of the New Age of Social Banking” | Gartner

Innovation, Open Finance, Open Source Banking3 Comments

All banks have the same strategy | what happened to the Starbucks strategy?

Colin Henderson

It was refreshing to read this piece, and takes us exactly where innovation in financial services ought to be going – the new (old) grand ideas. Starbucks should start banking | FT What if Starbucks opened an online-only retail bank offering competitive deposit rates and a modest range of loans and mortgages? It could do that by partnering with a finance company such as ING, which has the appropriate banking licences. All it would need to do is install ATM machines in its outlets, which would involve investing some money but would allow it to get more out of its … Continue reading All banks have the same strategy | what happened to the Starbucks strategy?

Business Models, Innovation1 Comment

Where are the bank visionaries when we need them?

Colin Henderson

As we watch for bank stress test results in the US and other countries efforts to deal with Banks’ asset valuation and capital levels, its useful to keep a track on the economic back drop, and assess the bank’s efforts to address their real problem, which is over-valued assets. The US stress tests specifically address the impact on banks under certain sets of future assumptions for economic growth and stability. Spring forecasts 2009-2010 | European commission The Commission forecasts a sharp contraction of the EU economy by 4% in 2009 (relative to a positive growth of 0.8% in 2008). Almost … Continue reading Where are the bank visionaries when we need them?

Innovation

FinovateStartup 2009 Conference highlights the future of banking

Colin Henderson

Jim posts a nice review of the types of demo’s at Finovate coming up.  Wish I was there!  I am especially interested in 1. 2. and 6.  – these are concepts that are bank shifting, and will wake banks up. I like where Netbanker is going and I am thinking the same way.  As a group we used to be focussed on online banking evolution, but that horse has left the barn.  Banks are too focussed on getting issues of capitalisation and asset values.  As those matters evolve and the banks we used to look to for innovation develop into … Continue reading FinovateStartup 2009 Conference highlights the future of banking

Innovation3 Comments

The Great Unwinding | part 3 of 3: The state of innovation in financial services

Colin Henderson

The first two parts of this series are pretty gloomy.  I remain convinced they are directionally accurate.  I appreciate that being so specific about the next 12  years does not guarantee accuracy, and in fact guarantees there will be surprises that are not even contemplated.  However the core themes derived in the first two parts have sufficient momentum and credibility to form the basis of the environment for a strategic scan. The impacts on banks will be seen through three broad strategic drivers: Interventionist regulatory framework: all of the scenarios see new regulation. Back to basics banking: survivors will reorient … Continue reading The Great Unwinding | part 3 of 3: The state of innovation in financial services

Economy, Innovation9 Comments

The Great Unwinding | part 1 of 3: 2009 – 2012

Colin Henderson

This will be series of posts focussed on the current state of banks, the impact of the banking crisis on banks, and future scenarios for banks 2009 – 2020.  This is no longer banking as usual.  The research used to source is primarily from The Future of the Global Financial System together with supporting data from G20, and IMF.  I also acknowledge strong influences from Niall Fergusons “The Ascent of Money” and his other writing here at the Financial Times plus John Mauldins pragmatic view of the world. The WEF and IMF reports are stored on the blog here.  The … Continue reading The Great Unwinding | part 1 of 3: 2009 – 2012

Innovation

Managing Complexity – A Different Approach for leaders | WEF

Colin Henderson

Managing Complexity: A Different Approach with Benjamin Zander markets do not speak in human tongues lessons in art, and music in communication The Art of Possibility – book everything can be viewed two ways – positive or negative possibility = luck or possibility = the norm both are available to everyone – it is a deliberate choice Two shoe salesmen in th 1800’s sent to Africa;  #1 – no opportunity they don’t wear shoes.  #2 – glorious opportunity – no-one has shoes it is not the circumstances that are crucial – it is the choice of how we speak about … Continue reading Managing Complexity – A Different Approach for leaders | WEF

Innovation, Uncategorized2 Comments

Here to stay? | US Auto as an example of what not to do

Colin Henderson

This photo from the FT Monday exemplifies the state of the US Auto industry today.  The smiles, the protruding jaw, the “in your face” defiance in face of adversity – says it all – supported by the sub-headline “carmakers in drive for more government support”. Where is the quiet thoughtful strategy to re-invent themselves and accept that the opportunity that crystalised 34 years ago with the oil crisis has been woefully lost.  Instead of magically rolling out electric cars all of a suddden as if they were always on the plan, lets hear the overall plan to change, and describe … Continue reading Here to stay? | US Auto as an example of what not to do

Business Models, Innovation2 Comments

Gen Y – change the generation, or change the strategy – which approach is most likely to succeed

Colin Henderson

I have long stated that understanding and building for Gen Y is an essential basic approach for online banking applications, and I refer you back to this post from 2 1/2 years ago which noted the view of Charlene Li while she was still at Forrester. Today I was pleased ot find this site yworking.com that is written by a Gen Y’r and snf focusses on Gen Y at work.  It is insightful. and much to learn from here. Relevance to Bankwatch: Many of the views will challenge existing thinking and help to force that ultimate question – do we … Continue reading Gen Y – change the generation, or change the strategy – which approach is most likely to succeed

Innovation2 Comments

One way innovation will occur in banking

Colin Henderson

With this headline and the accompanying description, yet another step in the evolution of social lending takes place.  This is a good thing.  Certainly we are undergoing a period of extreme transition and pressure to develop the right model within social lending, but the outcomes are beginning to offer some clues to the future, and some clarity. Fynanz halts p2p lending; markets student loan platform to credit unions We have opened up our platform to financial institutions that wish to establish a student loan program The matter of regulation of the industry is now certain, at least in North America, … Continue reading One way innovation will occur in banking