shapingtomorrow1 Comment

Shaping Tomorrow | Mike Jackson

Colin Henderson

Mike Jackson of Shaping Tomorrow offerred a compelling view of future complexity bringing increasing uncertainty. He spoke of the perfect storm of change coming from Energy, Climate change, Food Security, and Economy, that have such impact on the world that everyone including Banks cannot ignore. [ Digital Money Forum ] The Future of Retail BankingMike JacksonShaping Tomorrow The one thing that cannot be ignored and will frequently help sort out the complexity is the customer. The social change going on includes: end users are increasingly informed reputations are won and lost overnight banks have a poor reputation On point 3, … Continue reading Shaping Tomorrow | Mike Jackson

AI

Brits struggling with PINs – survey | finextra

Colin Henderson

In a survey that probably understates the matter, Brits are using the same password for multiple cards. Finextra: Brits struggling with PINs – survey Around a quarter of cardholders in the UK are putting their money at risk by using the same PIN number for all their credit and debit cards, according to research commissioned by price comparison Web site Moneysupermarket. This is no surprise, and rather than being seen as a problem, should be seen as an opportunity by the industry to consider additional assistance for people. Biometrics spring to mind, such that cards can only be used by … Continue reading Brits struggling with PINs – survey | finextra

research

things I read yesterday … 04/22/2008

Colin Henderson

Twitter: grabbing defeat from the jaws of success « Scobleizer — Tech geek blogger – Annotated tags: twitter, friendfeed, scalability, reliability Why is FriendFeed seeing this growth? Well, for one, it hasn’t gone down since I’ve joined it. It was built from the start to scale, which after I met the team I understood why: two of the founders of FriendFeed started Gmail and Google Maps, so I’m sure they’ve learned a few tricks about making sure services don’t go down from Google Continue reading things I read yesterday … 04/22/2008

Payments, Social Lending

Digital Money Forum conference – 2008

Colin Henderson

Off to London now for the conference. I am really looking forward to this event, and the content. The panel in particular should be an interesting chat. Co-participants are: Expert Panel: Meet the Bloggers Moderator: Steve Bowbrick Chris Skinner, Balatro Aneace Haddad, Welcome RT Colin Henderson, Bankwatch Scott Loftesness, Payments News Dave Birch, Digital Money Blog I am sure we will get into some good discussion about whats wrong with payments, and missing in electronic money/ smart cards/ alternative financial services/ social lending. What really interests me, is that I feel I know each of these participants personally, yet have … Continue reading Digital Money Forum conference – 2008

research

things I read yesterday … 04/21/2008

Colin Henderson

The 10 Inventions That Most Changed Retail Banking – Annotated This post is remarkable, because it highlights how, in reality, technology is slow to move from invention to implementation. tags: banking history, inventions Here are some of the influential technologies and inventions which have each in their own way revolutionised the retail banking business in the last 1000 years. Money, guarantees and loans have been around for the millennium. I looked for something new, and didn’t really see any change between the Crusades and and the 19th century. The first entry could also be argued to have existed then too. … Continue reading things I read yesterday … 04/21/2008

research

things I read yesterday … 04/18/2008

Colin Henderson

New Online Direct Bank: OnBank from M&T (NetBanker) – Annotated NetBanker: “the google standard” tags: netbanker, onbank OnBank passes our strict 25-word homepage standard, joining ING Direct, EmigrantDirect on the short list of financial institutions with Google-like clarity on their home page. Payments News: Next Week’s Digital Money Forum in London – April 17, 2008 – Annotated Looking foward to sitting in with this illustrious group, and seeing where the conversation goes. tags: digitalmoneyforum2008, payments, london [Glenbrook’s Scott Loftesness writes…] At Dave Birch‘s invitation, I’ll be heading to London on Monday for next week’s 11th annual Digital Money Forum on … Continue reading things I read yesterday … 04/18/2008

Security

The laws of unintended consequences | AML data mining

Colin Henderson

While the data collected by governments was intended to capture Anti Money Laundering and terrorists, it is providing many other results, including the recent debacle with Elliott Spitzer. globeandmail.com: Anti-laundering software casts wide net to catch big fish The software looks for subtle patterns that indicate odd activity, and when a transaction is  flagged, a human evaluates the findings. More often than not, the anomaly is explained and  dismissed. For example, someone whose banking consists of bi-weekly deposits may suddenly  show an influx of $15,000 that turns out to be profit from the sale of a car. But when investigators … Continue reading The laws of unintended consequences | AML data mining

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Catalysts for Change: The Implications of Gen Y Consumers for Banks | Deloitte

Colin Henderson

Gen Y as a generation is consequently distinctive enough to merit specific consideration from Banks.  I have talked here before about building online banking and services specifically for Gen Y.  I think that way because theirs is the next demographic group on the horizon, with significant spending capability.  “Their annual spending is already projected to be $2.45 trillion by 2015” Unless you have multiple online banking sites, you have left with the choice of ‘dumbing it down’ to the lowest common denominator, or targeting a niche, and making the working assumption that other demographic segments are quite willing to accept … Continue reading Catalysts for Change: The Implications of Gen Y Consumers for Banks | Deloitte