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On privacy and the new publicy | what is a bank to do?

Colin Henderson

There is a theme developing that we may all wish to consider and begin thinking about. It goes to to the core of what many/most believe but the challenge remains … coming, and it is coming fast. First this from Mark Zuckerberg in an interview with an unusually passive non-alpha Mike Arrington where he (Mark) indicates the notion of retaining information privately in Facebook is gone, and was a mistake to have thought about it that way from the beginning. See ReadWriteWeb for Marshals views. Crunchies Next is the ever thoughtful JP who has been pounding on the Facebookisation of … Continue reading On privacy and the new publicy | what is a bank to do?

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Big banks might move to Hong Kong | FT

Colin Henderson

I was listening to all the pundits making predictions for 2010 over the weekend and one struck me in particular. It was Chrystia Friedland US Managing Director of Financial Times on Fareed Zakaria GPS, and she predicted big banks moving their headquarters to Hong Kong, in response to regulation and taxes. It was a one liner comment, with no follow through, but there is no reason for an investment bank which can operate virtually not o optimise its HQ location. Interesting. One more point for the rise of emerging economies. Continue reading Big banks might move to Hong Kong | FT

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There is Life Beyond the Valley and they might just not speak English

Colin Henderson

Every once in a while I feel have to take the San Francisco echo chamber to task. It often happens around Le Web oddly enough. I have pasted a few comments from Roberts post below and you will get the idea. The premise is founded on the internet world being centred in California and the tools that are built there, including Twitter and Facebook. World-brand-building mistakes France’s entrepreneurs make | Scobleizer So, since you were meeting with us and since we’ve spent precious resources getting there and had sizeable opportunity costs, I figure entrepreneurs should be better prepared. In this … Continue reading There is Life Beyond the Valley and they might just not speak English

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Everyone’s internet is different

Colin Henderson

Steve Rubel sums up his observations from the always insightful Le Web conference in Paris this week. His second observation caught my attention and reflects how both I and my friends see the web. Three Observations from Le Web Second, nowadays no two people see the same Internet. This was a key point that Facebook made, saying that we increasingly discover online content not just by algorithms but via the "lens of friends." Microsoft researcher Danah Boyd brought this to life through rich, moving stories. Google’s Marissa Mayer went a step further saying that the future of news is a … Continue reading Everyone’s internet is different

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Peer-to-peer lending gets a new regulatory regime in the US

Colin Henderson

A fascinating development in the US as a new regulator for peer-to-peer lending appears following vigorous efforts from Prosper to promote an even handed regulatory regime for both borrowers and lenders. Currently the Securities and Exchange Commission (SEC) is the prime regulator, and a similar situation exists in Canada. The creation of the Consumer Financial Protection Agency (CFPA) is apparently designed to protect consumers in a host of financial services from p2p lending to reverse mortgages. Certainly more to come on that, but interesting for peer-to-peer lending. Prosper Hails House Passage of Landmark Peer-to-Peer Lending Reforms “Once again, Representative Jackie … Continue reading Peer-to-peer lending gets a new regulatory regime in the US

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Bank of Canada notes consumer credit remains a risk

Colin Henderson

Despite the general view that Canada and its banks is in relatively better condition that international peers, down side risks remain, and are relatively unchanged since Jun 2009. This statement sums that up, and introduces a key point about this crisis and how little has been done to prevent re-occurrence. Bank of Canada Financial System Review Despite notable improvement in funding markets, funding and liquidity constraints remain an important area of vulnerability. Should a negative shock occur, such as a renewed downturn in the global economy or a loss of investor confidence, funding and liquidity pressures would likely reappear relatively … Continue reading Bank of Canada notes consumer credit remains a risk

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The first genuine payment innovation for a while | Square

Colin Henderson

Jack Dorsey and colleagues have announced Square; a mobile payment acquiring terminal that is small enough to fit on a key fob, and works through any mobile phone with an earphone plug. First iteration works with the iphone, but it will work with blackberry and others. The common requirement appears to be a mobile device that accepts 3rd party apps, and has a standard earphone jack. The device and application acquires the data through conversion of sound into data, then transmits. The device is designed to replace the merchant terminal for small businesses, replace the monthly terminal fee, and replace … Continue reading The first genuine payment innovation for a while | Square

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Limited Purpose Banking using Mutual Funds to replace banks

Colin Henderson

I recently covered Mervyn Kings proposal for Utility Banking; a banking business model that separates banking banking services from high risk investments. For example utility banking as I see it, would cover day to day chequing, savings, loans and mortgages, ATM’s, and online banking. It would have traditional FDIC type deposit insurance, and utility banks would be subject to capital requirements and would not be permitted to participate in off balance sheet banking, nor securitisation. Think James Stewart and ‘Its a Wonderful Life’. In this piece Niall Ferguson takes it further suggesting that the Utility Banking approach still leaves the … Continue reading Limited Purpose Banking using Mutual Funds to replace banks