Category: Innovation

Business Models, Innovation7 Comments

Countering the Big-Bank Trend (US)

Colin Henderson

Even though the number of banks in the US has reduced to 7,402 at the end of last year from 14,411 banks in 1977, there remains a significant opportunity for community sized Banks to compete.  They can bring a customer focus and clarity of vision that is hard to accomplish in larger institutions.  This is evidenced by new ones being set up every year. (Hat tip Neil) A small bank is the vein that carries blood to the heart, said Edward Carpenter, chairman of Carpenter & Company, an investment bank that in 33 years has organized the founding of 708 … Continue reading Countering the Big-Bank Trend (US)

Business Models, Innovation

A new asset class for investors – unsecured personal loans (Zopa)

Colin Henderson

Zopa pushes the boundaries and introduces more disruption within financial services, by bundling loans granted through its service, into Self-Invested Personal Pension (SIPP) eligible investments. Social lender Zopa is offering Sipp investors the chance to make between 6% and 14% on their cash in the run up to retirement. Last week, Zopa revealed it was agreeing operational details with a number of specialist self invested personal pension with the view to offering its lending facility as a separate asset class within a Sipp wrapper. James Alexander of Zopa noted: ‘It will be very attractive to those over 55 who want … Continue reading A new asset class for investors – unsecured personal loans (Zopa)

Innovation2 Comments

Trabian is releasing their Credit Union CMS as Open Source!

Colin Henderson

 Trabian continue to lead the charge within the Credit Union movement, by releasing their Content Management solution as Open Source. Trabian (the people behind OSCU) just announced that they are releasing their Credit Union focused Content Management System (CMS) as Open Source. Source: (building the) Black Rock Federal Credit Union » Trabian is releasing their Credit Union CMS as Open Source!   Technorati tags: Trabain, Open+source, CMS Continue reading Trabian is releasing their Credit Union CMS as Open Source!

Innovation

Finextra: Barclays launches overseas mortgage Web site

Colin Henderson

Barclays launch a mortgage site for customers seeking mortgages outside of UK.  The website reinforces Barclays position as a leading player in the overseas mortgage market and is a key component in the bank’s strategy to increase the amount of business it does with intermediaries and increase its market share in overseas mortgages. Buying property abroad has become increasingly popular with British people over recent years and selling overseas mortgages could provide an additional source of income for many intermediaries. Source: Finextra: Barclays launches overseas mortgage Web site   Technorati tags: Barclays, mortgages, non+resident Continue reading Finextra: Barclays launches overseas mortgage Web site

Innovation

MoneyWorks for Credit Union member recruitment

Colin Henderson

 Credit Unions continue to amaze me with their innovation, from Filene in this case. (hat tip Doug) To grow membership through personal guerilla marketing, you can find details of this innovative grass-roots channel to membership growth and relationship development – including further explanation of the multi-level marketing option as well as sample surveys, tracking program demos, and an Advocate job description – in the i3 section of this Web site or by calling Filene Research Institute at ,,,, Source: MoneyWorks Executive Summary : Filene Research Institute Whether it works or not remains to be seen, but they are willing to try … Continue reading MoneyWorks for Credit Union member recruitment

Innovation, US

Bank of America is saying goodbye to "Higher Standards" and hello to "Bank of Opportunity," its new marketing theme

Colin Henderson

 Bank of America has successfully become national, and is now changing its marketing tag line.  This is in keeping with their controversial recent new offerring targeted at new immigrants in the US.  I expect this will drive some more innovation from BofA. Having established itself as the only truly nationwide bank through a string of acquisitions in recent years, Bank of America is now taking steps to become more of a national advertiser. It plans a sharp increase in ad spending this year, with its first new ad campaign since 2003. Source: WSJ.com – Login   Technorati tags: bank+of+america, US Continue reading Bank of America is saying goodbye to "Higher Standards" and hello to "Bank of Opportunity," its new marketing theme

Innovation, Web/Tech

Credit Mutuel – internet banking portal – AJAX

Colin Henderson

I bumped into Yann from Credit Mutuel while at LIFT.  He pointed out their banking portal work that is underway.  Check it out. Link to Accueil (Link removed – beta site, and will change) Note these things; drag and drop sections open and close stories Click personalise and note the page dims, and the customise bar opens And all of this is super fast.  It is all downloaded and run locally.  This is the first bank Ajax implementation I have seen.   Technorati tags: Credit+Mutuel, France, Ajax+online+banking, online+banking Continue reading Credit Mutuel – internet banking portal – AJAX

Innovation, online+banking

LIFT07 – Innovation

Colin Henderson

I’m surprised and happy to see so many bankers/ banking technology people here. Some snippets that I’ve picked up, all European, and that I’ll be speaking about in more detail; – evault to store electronic docs in online banking – consideration of Ruby on Rails for online banking – a blog to follow an Antarctic expedition hosted by a Bank – an information management system on rails, that’s designed as a multi user, tagging, personal home page environment. A cross between blogs, facebook, and google reader ; this rocks! – general thread to implement social x on a bank site … Continue reading LIFT07 – Innovation

Innovation2 Comments

The Garland Group | Web 2.0 and Banks

Colin Henderson

Brad is a pretty switched on guy, and this presentation is a great primer for anyone who needs to get caught up on what Web 2.0 means right now.    Here are the PDF slides of the presentation for download. If you think this might be of benefit to someone else, please feel free to pass it on. Source: The Garland Group Blog He covers off all the latest entrants, including Prosper, Zopa, and Wesabe. Great overview.   Technorati tags: banking+innovation, bank+blogs, Garland+group Continue reading The Garland Group | Web 2.0 and Banks

Innovation, Profitability3 Comments

HSBC attracts $3 billion deposits in one year, but is that good?

Colin Henderson

 Jim notes the progress made by HSBC Direct with great statistics.  Assuming typical high-yield balance levels of $8000 to $10,000 per account (our estimate), the bank has attracted more than $3 billion in deposits. The bank has marketed its 5%+ APR account heavily, so it’s not likely that the new business is making much of a profit contribution yet. Based on the bank’s reported online ad spending, its acquisition costs were $75 per account from the online spending only, not including what it spent in other media to support the direct business unit (see note 1). Source: NetBanker 2.0: HSBC … Continue reading HSBC attracts $3 billion deposits in one year, but is that good?