This just goes to show Banks have learned nothing. In typical form, and just when innovation is most needed, this one Bank (UK) falls back on the traditional ‘back to basics’ mentality, and eliminates the “luxury” of innovation. BankerVision: Innovation is a luxury The other day, I heard on the grapevine that a significant UK bank is cutting back its innovation function. You’ll forgive me, I’m sure, if I don’t name the bank, but reports of the contraction of innovation there were triangulated by several sources. Apparently, given the difficult times at present, innovation was seen to be an expensive … Continue reading Innovation not required at this time | UK Bank

I learned today of a new offerring scheduled to launch June 9th in the US. I am quite intrigued by the concept that has aspects of moneyexperts.co.uk with the added mix of auctions. More to come. moneyaisle.com The company’s fully automated, proprietary technology creates unique online auctions where banks compete in real-time to meet each consumer’s specific banking needs until one bank remains. The unique MoneyAisle platform has already become an attractive offering for small and mid-sized banks. Without the high costs of customer acquisition, banks are able to access a large market of potential customers from across the United … Continue reading moneyaisle | coming June 9th

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

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”

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