I have been backing off on comments about the banking system, because that’s not really what my blog is about.  But once in a while I just can’t resist. There just has to be more going on with regard to the disconnect between the markets and the Central Bankers.  Basically it goes like this: Central Bankers:  The economy of our country and of the world has not returned to normal employment, growth and inflation therefore QE must continue. Markets:  There is no way “printing money” can continue because there is no ‘soft landing” to be had.  Therefore QE must stop … Continue reading Reading the mixed messages of the week from the US Fed and markets

NFC has been out there and few are adopting it.  Now we learn that iOS 7 has BLE (Bluetooth Low Energy) which is a low battery usage Bluetooth.  Next Apple and Paypal are planning to use this new protocol for payments. PayPal and Apple drop mobile payments bombshells Apple has included what is coming to be known as “beacon” technology in its new iOS 7 mobile operating system, which rolls out Sept. 18. Called iBeacon, it uses Bluetooth Low Energy wireless technology, like PayPal Beacon, and can be incorporated into apps. Stores plug in sensors that constantly look for iBeacon-enabled … Continue reading The beginning of the end for interchange and bank payment systems

I think it is exactly 10 years since the term multi channel customer centric strategy became de rigeur.  It was really a compromise that did not want to admit the eventual demise of the branch.  The compromise was to provide ‘equal’ experience and service level in the branch to that of online.  This was horrendously expensive and that reality is now hit home. Multi-channel banking strategies are failing to convince – TowerGroup | Finextra Says TowerGroup: "The branch isn’t dead, but the profitability of the network, as well as individual branch footprints, need to be reevaluated." Continue reading Is this the end of multi channel experience?

This is a staggering number.  Its hard to remember that pre 2007 an advanced phone required you you to flip it open and its main function was to … well … make phone calls. In the last 2 years as I watch what people carry, regular phones disappeared and smart phones dominate. Today at its iPhone event in Cupertino, Apple announced that it will ship its 700 millionth iOS device next month Continue reading Apple Will Ship Its 700 Millionth iOS Device Next Month | Techcrunch

Amazon CTO Werner Vogels writes about cloud developments in Holland.  One small thing of note in this long post is Ohpen, a Dutch core banking system supplier is moving their platform to AWS (Amazon cloud). Dutch Enterprises and The Cloud All things Distributed Ohpen – The Dutch banking regulator, De Nederlandsche Bank (DNB), has cleared the path for Dutch financial institutions to make use of AWS.  Dutch firm Ohpen has already moved to take advantage of the ruling by choosing AWS to host its core banking platform in an on-demand, software-as-a-service environment. According to Chris Zadeh, the CEO of Ohpen,  … Continue reading Ohpen, a Dutch core banking system supplier is moving their platform to AWS (Amazon cloud)