Category: Innovation

Innovation1 Comment

Innovation happens at the edges | Banks: are you watching?

Colin Henderson

Mike Arrington is one opinionated blogger that I don’t refer to much, but he makes an excellent point here. He posted a complaint abut his ISP on Twitter, and immediately got a call from a Comcast executive. Comcast, Twitter And The Chicken (trust me, I have a point) And then I lost my cool, tearing into Comcast on Twitter. Jeff Jarvis and others picked up the story and blogged about it. And this brings me to the point of this post. Within 20 minutes of my first Twitter message I got a call from a Comcast executive in Philadelphia who … Continue reading Innovation happens at the edges | Banks: are you watching?

Innovation5 Comments

The next innovation in banking | social depositing

Colin Henderson

Its been pretty bland for a while now, with the credit crisis dominating the banking landscape, regulation looming on social lending, no sign of blogs for Banks, and generally not much new stuff. Well in true form Jim at Netbanker exclusively highlights a new service, SmartyPig (not sure about that name), backstopped by a Bank (not a Credit Union for once!!). The innovation is that this is deposit focussed. Click through to Netbanker for details, and its and American only service. Now this is interesting, and something to think about! How about this recipe? Take a basic FDIC-insured savings account, … Continue reading The next innovation in banking | social depositing

Innovation

“the quest for yield has not vanished and that will drive innovation”

Colin Henderson

Fascinating and wide ranging article here from the Guardian.  While some of it focusses on the impact on the London financial markets [the City], the causes and effects are very global.  More on that in another post, but meantime this paragraph here makes an astute macro point, that I wanted to focus on. Which way now when the world has shifted? | Business | The Observer … … chief executive adds: ‘If you take a 10-year view, there is every reason to believe the financial services sector will be one of the fastest growing. Nothing that has happened in the … Continue reading “the quest for yield has not vanished and that will drive innovation”

Innovation3 Comments

Wesabe’s Mac Dashboard Widget

Colin Henderson

Highly creative new tool release from Wesabe.  I have always liked the idea of a tray icon/ tool/ widget, to summarise online banking.  Wesabe have beaten everyone to the punch.  Wheaties for Your Wallet » Blog Archive » Wesabe’s Mac Dashboard Widget The Dashboard Widget gives you one-button access to your bank balances and recent transactions. This turns out to be hugely convenient — instead of having to log into all of your bank sites or even to Wesabe to check your balances, you just have to be logged into your Mac. Unfortunately Mac only .. maybe Windows, and Linux … Continue reading Wesabe’s Mac Dashboard Widget

Innovation, Open Source Banking, Profitability1 Comment

BMO first in laying the groundwork to mitigate against sub prime

Colin Henderson

I  have been awaiting specifics on how the sub prime crisis would impact Canada specifically, and these stories at noted by ‘Canadian Banks’ indicate BMO is one of the first out of the gate with significant balance sheet restructuring in advance of rumoured impacts from the US situation.  The restructuring involved a 6% boost in Assets and liabilities, using new wholesale and commercial deposits to repurchase its own Asset Backed Commercial Paper.  Translation …  the articles speculate this is in anticipation of significant writedowns in the 4th quarter. Who is next ?  Watching and waiting for RBC, CIBC, Scotia information. … Continue reading BMO first in laying the groundwork to mitigate against sub prime

Innovation, Web/Tech1 Comment

Fairfax County Credit Union invites participants to develop a 30 second commercial

Colin Henderson

Here is one of the most open ended and creative attempts yet, to bring user generated content to Banking.  Some will say high risk, but kudos for Fairfax for trying this out.  Note they offer up their brand images for use, and in PC and Mac format. GenY Extreme Checking Video Contest ***ATTENTION FUTURE DIRECTORS AND FILMMAKERS***Fairfax County Federal Credit Union needs your creativity and style!!!Create a 30 second commercial to show how Fairfax County FCUGen Y Extreme Checking Account fits your lifestyle! Hat tip to CUemployee Technorati Tags: fairfax+county+CU, advertising+competition, UGC Continue reading Fairfax County Credit Union invites participants to develop a 30 second commercial

Innovation

Sign of the times, as NYSE broker staff shrink by almost 50%

Colin Henderson

Fascinating story on the New York Stock Exchange, and the impact of computerised trading, that has reduced face to face trading. The Big Picture | NYSE is Shrinking When the latest retreat is complete, the exchange floor will be half the size it was at its peak. The “crowd” — the brokers and clerks on the floor — has dwindled to about 1,700 from a high of more than 3,000. Technorati Tags: NYSE, automation, network+effect Continue reading Sign of the times, as NYSE broker staff shrink by almost 50%

Innovation

Public Policy and the Future of the internet

Colin Henderson

Thanks to JP for this link to a speech at PEW, by Lee Rainie.  There is a wonderful simplicity, and clarity capured within these three policy matters for internet.  They are policy, but they are also areas that require development, new tools to support, and likely help policy along.  I cannot imagine awaiting policy makers to do something. Of librarians, preachers and 911 operators…. | confused of calcutta I want to highlight three major areas of policy ferment that will play out in the coming decade. The first policy debate involves what kind of internet we have – from an … Continue reading Public Policy and the Future of the internet

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