Social networks

Zuzzid | social site for insurance comparisons

Colin Henderson

Here is a site in UK that brings social interaction to insurance purchasing. ZUZZID : About Zuzzid Love it or hate it insurance is a big part of our lives, whether it’s getting your car back on the road, or mopping up after a burst pipe. Zuzzid is here to help. Zuzzid helps people help each other. Let everyone know about your insurance experiences by leaving a Rant or a Rave. By doing this, us Zuzzers can learn from each other’s experiences, leave advice or comments, agree or disagree, and get the discussion going. This is how to beat the … Continue reading Zuzzid | social site for insurance comparisons

Social Lending, zopa5 Comments

Question for Zopa | is that 10K registered or 10K real customers?

Colin Henderson

Zopa are reporting 10,000 members in their US service. At first I was highly impressed and pleasantly surprised, however on reflection, I now question this number. Is it: registered members with investments or loans at Zopa? (lower but a ‘real’ number) registered users of the site (always a higher number) Both numbers have importance, but the Finextra press release is written to suggest that the 10k number relates to 1. but I am betting now that it relates to 2. I can’t locate this info on Zopa’s blog, something I also find odd … so am posting here. Anyone from … Continue reading Question for Zopa | is that 10K registered or 10K real customers?

Profitability2 Comments

Overdraft fees are one of Banks’ dirty secrets

Colin Henderson

There is a trend in US and UK towards reater transparency on overdraft fees. One of the dirty secrets in banking, is the ability to charge enormous fees in addition to overdraft interest. This practise worked because people preferred to pay the fee, rather than the embarrassment of bounced cheques. The notion that [some] people warrant help from their bank, has been lost in favour of a one size fits all fee approach, and now that is in question. Payments News: How to Comment on the Fed’s Proposed Credit Card Rule Changes – May 02, 2008 In addition, the proposed … Continue reading Overdraft fees are one of Banks’ dirty secrets

sub prime2 Comments

Rating Agencies do not want additional responsibility for their ratings

Colin Henderson

In a set of remarkable admissions, the rating agencies [eg, Fitch Ratings, Moody’s Investors Service and Standard & Poor’s] acknowledge the degree of problem with ABCP (Asset Based Commercial Paper). FT.com / Home UK / UK – Ratings agencies critical of guarantees Ratings agencies have countered that, in many cases, mortgage lenders provided unreliable information and initial ratings assumptions were inaccurate as a result. Many borrowers inflated their income to qualify for loans, while others claimed investment properties were primary residences. Lets be clear here: rating agencies evaluate paper and assess the degree of risk the information they were being … Continue reading Rating Agencies do not want additional responsibility for their ratings

Canada

RBC disputes critical Citi assessment

Colin Henderson

The usually impenetrable RBC gets into a dispute over future loss potential with Citi analysts. TheStar.com | Business | RBC disputes critical Citi assessment Citi Investment Research analyst Shannon Cowherd lowered her rating on the stock from “hold/high risk” to “sell/high risk” and cut her price target from to C$40 from C$47. “The downgrade is driven by our conservative estimate of a $5 billion potential credit-related writedown and a $2-billion increase to the provision for credit losses,” Cowherd wrote in a report to clients. Continue reading RBC disputes critical Citi assessment

AI

Time for a re-read | The Upside of Down

Colin Henderson

Food riots in Haiti, gas at $1.31 [Canada], arctic icecap disappearing faster than previously understood, the US/ global credit crisis, etc etc. Then layer on Mikes excellent presentation about drivers of change. I think time for me to re-read this book from 2007. Just too much makes sense, and strategy must consider the impacts of global change, to be complete. The Upside of Down – The Argument energy stress, especially from increasing scarcity of conventional oil; economic stress from greater global economic instability and widening income gaps between rich and poor; demographic stress from differentials in population growth rates between … Continue reading Time for a re-read | The Upside of Down

Payments

16% of Japanese mobile users use digital wallet

Colin Henderson

Dave links to a report that highlights usage of cell phones as a digital wallet in Japan. Great statistic here … almost 16% use their phone for this purpose. Digital Money Forum: We should have such problems Only a sixth of mobile phone subscribers use their handsets as contactless wallets! ONLY A SIXTH!! Well, here in the U.K. it’s about 0.001% so I’m quite jealous. Not just of Japan, but of lots of other places. Continue reading 16% of Japanese mobile users use digital wallet

AI

Close out post – Digital Money Forum 2008

Colin Henderson

I have to say this has been one of the best conferences that I have attended, and is up there with LIFT.  Dave does a good job of holding attendance to a nice number that offers enough breadth of experiences, and industry, yet not being overwhelming.  Its almost a friends of Dave event, since apparently he does in fact know everyone. I was impressed by the depth of experience of the participants in the payments arena, with coverage from Banks, SEPA, mobile, and consultants.  Got to meet lots of interesting people. Here is a final shot of you [those that … Continue reading Close out post – Digital Money Forum 2008

research

things I read yesterday … 04/24/2008

Colin Henderson

Where either a lender or borrower can be | WSJ – Annotated Instead, the 31-year-old from Schaumburg, Ill., recently borrowed $22,500 on Prosper.com, an online lending network that matches individual borrowers and lenders. The interest rate on Mr. Walsh’s loan: 10.25% — several percentage points below what he says he would have had to pay at a bank. tags: wsjblog, clblog Instead, the 31-year-old from Schaumburg, Ill., recently borrowed $22,500 on Prosper.com, an online lending network that matches individual borrowers and lenders. The interest rate on Mr. Walsh’s loan: 10.25% — several percentage points below what he says he would … Continue reading things I read yesterday … 04/24/2008