Category: Social networks

Open Source Banking, Social Lending, Social networks2 Comments

Understanding Microblogging Usage and Communities

Colin Henderson

Here is an analytical paper, that develops empirical evidence on how and why people are moving towards microblogging type platforms, and communication methods.  Its worthwhile for us to understand the motivations, notwithstanding the pro’s and con’s we each feel about them.  University of Maryland, Baltimore CountyUsing the link structure, following are the main categories of users on Twitter: Information Source An information source is also a hub and has a large number  of followers. This user may post updates on regular intervals or infrequently.  Despite infrequent updates, certain users have a large number of followers due to the valuable nature … Continue reading Understanding Microblogging Usage and Communities

Social networks4 Comments

The Bank as a “Friend” to your customer

Colin Henderson

 Just before Banks consider getting into blogs (with exception of Credit Unions and Wells Fargo), Steve takes us beyond basic blogs, and the new environment.  He tries to summarise the drivers behind the current shifts. Advertising Age – The Case of the Incredible Shrinking Blogosphere First, there’s the Attention Crash. The demands on our time — be they work, family, passions — are growing. Brevity rules. Second, there’s the proliferation of mobile devices, which, through text messaging, encourage people to publish more often but in a far shorter format. Last but not least we have social networking, which makes it … Continue reading The Bank as a “Friend” to your customer

Open Source Banking, Social Lending, Social networks1 Comment

Economy provides opportunity to differentiate between traditional lending and social lending

Colin Henderson

There is a general sentiment that a consumer credit crunch is coming to North America, in the wake of the sub-prime mortgage debacle. This from Gallup explores the old causes of a crunch arising from a dramatic drop in liquidity, and points out despite a worldwide glut in liquidity, the potential exists for a credit crunch now. Looks Like an Old-Fashioned Consumer Credit Crunch What causes a credit crunch? In today’s financial markets, many lenders make loans but do not hold them in their portfolios. Instead, they sell them to investors in the form of securitized investments. What appears to … Continue reading Economy provides opportunity to differentiate between traditional lending and social lending

Social networks1 Comment

Beyond social networks | whats the near term destination?

Colin Henderson

This diagram is terrific in its simplicity. I have tried this a few different ways, but I will stick with this example for a while I think. It describes the next generation internet, and its useful in times of turbulence such as we are experiencing, to note where the likes of FaceBook fit [lower right]. Lower right is getting all the current attention, but its just one, relatively simple stepping stone. Thanks to http://tuscher-petersblogg.blogspot.com/2007/05/metaweb.html Relevance to Bankwatch: Watch for Google, Yahoo, and another(s) yet to be determined, to pull us into the upper right. The key unknown is actually the … Continue reading Beyond social networks | whats the near term destination?

Social networks

Jeremiah Owyang | “All your widgets are belong to Facebook”

Colin Henderson

With all the FaceBook hype, I enjoy contrarian views.  For my earlier posts on this theme, read here – (the Bebo post), here – (the web app post), and here (the AOL post). Web Strategy by Jeremiah » All your widgets are belong to Facebook 1) For example, my non-Facebook friends can’t see what I’m doing, and I’m a public guy. If I link to Facebook, you have to register and sign up, brilliant web acquisition for Facebook. 2) But after I’ve setup my profile, and I would like it to be an open platform, I should have the ability … Continue reading Jeremiah Owyang | “All your widgets are belong to Facebook”

Open Source Banking, Social Lending, Social networks1 Comment

Another ‘web based platform’ | Bebo signals plan to open up to developers

Colin Henderson

What a difference a day makes.  This announcement from Bebo validates TechCrunch’s Duncan Rileys comments that we discussed yesterday here.  Banks can will have to decide whether to focus on one or more ‘platforms’, or more likely (imho) the profileration of platforms, each with their own development idiosyncrasies, will drive them to inaction in the short run. Longer term, these platforms will need to focus on working with open standards so that (bank) applications can have a chance to work in more than one place, or risk being ignored, with concominant risk to their own business model.  The attraction for … Continue reading Another ‘web based platform’ | Bebo signals plan to open up to developers

Social networks2 Comments

How should Banks react to web based application providers?

Colin Henderson

Duncan at Techcrunch, posts a thought provoking view of FaceBook’s potential. The key that he has zeroed in on, is ‘open vs closed’, and whether FaceBook risks becoming obsolete as Microsoft has. Could Facebook Become The Next Microsoft? Conclusion It’s difficult to be against Facebook at this time. The platform strategy and now the move into Web Operating Systems are fairly lauded as being smart business moves, and of course the Facebook product itself is constantly improving. From a users perspective, a centralized one-stop shop of applications has great appeal, particularly in a marketplace where choice can actually be overwhelming. … Continue reading How should Banks react to web based application providers?

Social networks

Blogs, Addas, and raising the collective intelligence?

Colin Henderson

JP always writes interesting stuff, and this quote from Simon Winchesters, Calcutta continues that trend.  Addas were the 19th century blogs in India.  During a particularly disruptive, and growth period, the changes were discussed in those Addas.  Not dissimilar to what we are seeing today.  The growth of social networking tools, is a natural response to a human need for discussion between individuals of similar disposition.  Musing about being a Calcuttan | confused of calcutta Bengalis have long been addicted to the adda, a group gossip and discussion session that can last for hours, and the printing press and periodicals … Continue reading Blogs, Addas, and raising the collective intelligence?

Social Lending, Social networks

Social computing/ finance definitions and potential success criteria

Colin Henderson

The conversation in the comments surrounding the Zopa post make me thing even more about why its important.  First some definitions from the experts. Benjamin at Forrester defines Social Computing — a social structure in which technology puts power in the hands of communities, not institutions. Jim Bruene at NetBanker defines Social Personal Finance:  – Sharing personal finance questions with others in a defined online community I believe as do these folks, that social finance will change Banks and financial services.  We can debate the degree of change and the timing, but change will nevertheless happen.  For me part of … Continue reading Social computing/ finance definitions and potential success criteria

Social networks2 Comments

Google plan for social networks

Colin Henderson

When Google get serious about something its worth noting, just so that we can understand the impact on the web lifestyle.  Google Socialstream appears to be an effort to provide an aggregated view of a consumers social networking activity.  Socialstream Prototype Goal: Create a system for users to seamlessly share, view, and respond to many types of social content across multiple networks. Socialstream is a consumer view of all their online social contacts.  The central question here is the direction to social networks as an application layer.  FaceBook have introduced the F8 platform, that provides functional capability well beyond social … Continue reading Google plan for social networks