Advanta tries something different, with ‘Submit your Idea’

2007-10-312007-10-31 Colin Henderson

There are no bad ideas when experimenting, and this from Card issuer Advanta is one of those. Interestingly they are getting some uptake with the concept. Listing all ideas – Ideablob: where ideas grow What would you do with $10,000 towards your business idea? My thoughts are: its important to begin somewhere, try and learn, so this is in that category they are NOT trying to sell anything; thats a big plus for a Bank. Learn the space, and sales will follow once customers can see you are for real the follow through is another competition next month … not … Continue reading Advanta tries something different, with ‘Submit your Idea’

Uncategorized

Google to launch OpenSocial and raises the stakes for open standards vs walled gardens

2007-10-302007-10-30 Colin Henderson

Amid rumblings of an upcoming announcement that FaceBook will open up its application platform shortly, Google goes one better, with a platform that appears to solve the reusability problem, by offerring a platform that will provide applications to work anywhere. This is appealing, not just for marketers to simplify leverage of their applications, using build one use everywhere (except FaceBook), but more importantly, people can continue with their application preferences across networks, or as they switch networks. Anything that places that power back in the hands of people is a good thing. Anything that treats the entire web as a … Continue reading Google to launch OpenSocial and raises the stakes for open standards vs walled gardens

Web/Tech

Thoughts on Google, FaceBook, and internet evolution

2007-10-282007-10-28 Colin Henderson

Once in a while its interesting to take a look at general internet trends. Its not banking specific in the short term, but it will be. While FaceBook is all the rage at the moment, I am still on the fence, and here is why. FaceBook is a walled garden determined to produce a private environment with sufficient numbers of participants that will drive advertising revenue. Google is the antithesis, and regards the entire internet as its garden. This sets up the ultimate battle between control and openness. Control: FaceBook offers an engaging environment where people can interact with each … Continue reading Thoughts on Google, FaceBook, and internet evolution

Open Source Banking, US2 Comments

BofA dips toe in web 2.0 water | needs help

2007-10-252007-10-25 Colin Henderson

BofA are very conservative about this kind of thing, so its a big deal that they are at least trying something now. Customer Reviews: Online Banking from Bank of America Write a Review Tell us what you think about Online Banking by signing in to Online Banking to submit a review. Look for the link on your Accounts Overview screen or in the Customer Service area. Results so far are mixed on two fronts; presentation: the display is horrible … think email, or Google Reader in terms of laying it out. There are 1,500 entries, yet you can only see … Continue reading BofA dips toe in web 2.0 water | needs help

Innovation, Open Source Banking, Profitability1 Comment

BMO first in laying the groundwork to mitigate against sub prime

2007-10-192007-10-19 Colin Henderson

I have been awaiting specifics on how the sub prime crisis would impact Canada specifically, and these stories at noted by ‘Canadian Banks’ indicate BMO is one of the first out of the gate with significant balance sheet restructuring in advance of rumoured impacts from the US situation. The restructuring involved a 6% boost in Assets and liabilities, using new wholesale and commercial deposits to repurchase its own Asset Backed Commercial Paper. Translation … the articles speculate this is in anticipation of significant writedowns in the 4th quarter. Who is next ? Watching and waiting for RBC, CIBC, Scotia information. … Continue reading BMO first in laying the groundwork to mitigate against sub prime

2008 Planning Guide | NetBanker

2007-10-182007-10-18 Colin Henderson

The always thorough NetBanker comes out with their annual planning guide, this for 2008. I have been following NetBanker since 1996 and its well worth the subscription for those involved in Bank strategy, and Online Banking development. This teaser from the document ought to get you going. You need the full report to get the complete context. So, does the inevitable [eventual] demise of the branch matter for your business planning in 2008? That’s hard to say. But, look at the answers to the question posed byCashEdge last month to a group of online banking customers. Three quarters said they … Continue reading 2008 Planning Guide | NetBanker

Innovation, Web/Tech1 Comment

Fairfax County Credit Union invites participants to develop a 30 second commercial

2007-10-172007-10-17 Colin Henderson

Here is one of the most open ended and creative attempts yet, to bring user generated content to Banking. Some will say high risk, but kudos for Fairfax for trying this out. Note they offer up their brand images for use, and in PC and Mac format. GenY Extreme Checking Video Contest ***ATTENTION FUTURE DIRECTORS AND FILMMAKERS***Fairfax County Federal Credit Union needs your creativity and style!!!Create a 30 second commercial to show how Fairfax County FCUGen Y Extreme Checking Account fits your lifestyle! Hat tip to CUemployee Technorati Tags: fairfax+county+CU, advertising+competition, UGC Continue reading Fairfax County Credit Union invites participants to develop a 30 second commercial

Open Source Banking, Profitability6 Comments

“The Upside of Down” | some thoughts on Banking

2007-10-152007-10-15 Colin Henderson

Over the last couple of weeks I have been reading ‘The Upside of Down‘, authored by Thomas Homer-Dixon. Its not often that a book makes an impact on how I think about things, but this book did. Generally I think of myself as a pragmatist, and no I have not suddenly joined the Al Gore fan club. Thomas carefully develops the case that there are some seismic changes occurring in the world (meaning the whole world) that when they occur simultaneously will produce cataclysmic change in the world. My intention is not to rationalise the book … you can do … Continue reading “The Upside of Down” | some thoughts on Banking

Bankwatch

PRODUCTIVITY Progress in era of Artificial Intelligence