Social Media4 Comments

“Be Center Stage in the Rose Parade” | Wells Fargo

Colin Henderson

I think I have entered a Bank web 2.0 netherworld today.  After the RBC press release post this morning, now here is Wells with a consumer generated media marketing programme.  Ed, their VP of social Media, just let me know that they are announcing this programme tomorrow, Sept 28th. Memelabs | Contests | Wells Fargo – Be Center Stage in the Rose Parade If you like to sing and dance, or if you’re an aspiring director, this is your chance to show us – and the country – what you’ve got! How, you ask? By producing your own music video! … Continue reading “Be Center Stage in the Rose Parade” | Wells Fargo

US

iBanknet | easily accessible data on banks

Colin Henderson

I just came across this site today, after an email conversation with Christopher.  It is a rich site, with lots of detailed information and statistics about American banking.  They have weaved the content together with some cool tools, including, search, RSS, and their blog.  The data is kept in Google Base.  Worth a look, for those in the industry. iBanknet | About Our Vision … The Internet is changing fundamentally the way people discover, share and work with information. At iBanknet, we believe in an evolving internet with increasingly identifiable, accurate, and accessible content. iBanknet is shaping the future by … Continue reading iBanknet | easily accessible data on banks

Social networks2 Comments

Is RBC beginning to show signs that they get web 2.0 ?

Colin Henderson

It is early days, but this paragraph from an RBC press release last week is interesting to me because of the language [emphasis mine].  This is old hat to most readers of this blog, but consider the poor corporate communications folks at 90% of Banks.   They would required a white paper, and explanation for each one of those words, and why they are important to their Bank.  RBC is just getting on with it.  rbc.com – RBC Financial Group – Media Newsroom The challenge also leverages several web 2.0 and social media tools to keep students engaged and up to … Continue reading Is RBC beginning to show signs that they get web 2.0 ?

Uncategorized

Revolution Money

Colin Henderson

With $50 million in funding, and some credible career financial people on the team, this company is a serious contender in the payments, and online credit card space. Revolution Money Exchange MoneyExchange is an easy and secure way to exchange money with another MoneyExchange accountholder. RevolutionCard Welcome to the future of credit cards. RevolutionCard does it all. * Safeguards against identity theft * Competitive APRs * No annual fee Safety first. And second. RevolutionCard is PIN-based. You won’t find your name or account number anywhere on it – and neither will anyone else. Technorati Tags: revolution+money Continue reading Revolution Money

Innovation

Sign of the times, as NYSE broker staff shrink by almost 50%

Colin Henderson

Fascinating story on the New York Stock Exchange, and the impact of computerised trading, that has reduced face to face trading. The Big Picture | NYSE is Shrinking When the latest retreat is complete, the exchange floor will be half the size it was at its peak. The “crowd” — the brokers and clerks on the floor — has dwindled to about 1,700 from a high of more than 3,000. Technorati Tags: NYSE, automation, network+effect Continue reading Sign of the times, as NYSE broker staff shrink by almost 50%

AI

“The Upside of Down” | catastrophe and creativity

Colin Henderson

One of the trains of thought for me, following the sub prime mortgage crisis is that of globalisation, and new ripple effects we can expect to appear from unlikely and unanticipated situations.  For example Northern Rock in the UK being put out of business, by high risk mortgage lending in the US.  We all knew about globalisation, and the framework of international finance, but I am sure no-one saw Northern Rock, or BNP coming. Anyhow, that led me to different books and I came across this one today, which it turns out is written by a Canadian, and with contributions … Continue reading “The Upside of Down” | catastrophe and creativity

Social Lending5 Comments

Sample statistics – LendingClub lender statistics Sept 2007

Colin Henderson

[EDIT:  clarification from LendingClub in the comments, that these stats are a sampling of their numbers as an example]  Some stats on lending club after their first three months. Its just very refreshing to see the openness of the data from LC, & Prosper. For more from LendingClub go here. First impression is that the data reflects the Zopa and Prosper data closely. In other words we are seeing a trend. Lender Rankings – Lending Club Ranking of the top 100 portfolios ordered by estimated ROI (includes portfolios over $25 only)My analysis of the data: Social lending is a new … Continue reading Sample statistics – LendingClub lender statistics Sept 2007

AI2 Comments

Chairman Ben S. Bernanke Chairman Ben S. Bernanke | Subprime mortgage lending and mitigating foreclosures

Colin Henderson

Here is the testimony by the Federal Reserve (Central Bank) Chairman, to the US House.  Note the reference to his view of the cause of the problem.

The expansion was fueled by innovations–including the development of credit scoring–that made it easier for lenders to assess and price risks.  In addition, regulatory changes and the ongoing growth of the secondary mortgage market increased the ability of lenders, who once typically held mortgages on their books until the loans were repaid, to sell many mortgages to various intermediaries, or “securitizers.”  The securitizers in turn pooled large numbers of mortgages and sold the rights to the resulting cash flows to investors, often as components of structured securities.

_________________________________________________________

Chairman Ben S. Bernanke

Subprime mortgage lending and mitigating foreclosures

Before the Committee on Financial Services, U.S. House of Representatives

September 20, 2007

Chairman Frank, Ranking Member Bachus, and members of the Committee, I am pleased to appear before you to discuss the origins of the problems in the subprime-mortgage market and the response of the Federal Reserve to these developments.  I will also discuss some possible legislative options for addressing these concerns.

Continue reading “Chairman Ben S. Bernanke
Chairman Ben S. Bernanke | Subprime mortgage lending and mitigating foreclosures”

Uncategorized5 Comments

Finovate 2007 | New York Oct 2nd

Colin Henderson

Thought I would throw in a small plug for Jim Bruene’s latest brainchild, Finovate 2007. Think Techcrunch40 for Bankers. Although I cannot attend, I will be watching for posts. FINOVATE 2007 – OCT 02, New York City On October 2nd, 2007, twenty of the most innovative companies in the financial, banking and lending industries will gather in New York to offer a glimpse of the future of mobile, personal and online finance. Here are the presenters at this conference. Three that I am interested in particular, are Prosper, LendingClub and Yodlee. Andera Billeo Inc CheckFree ClairMail Firethorn Digital Insight (an … Continue reading Finovate 2007 | New York Oct 2nd

AI2 Comments

Leaving the Information Age | Joe Andrieu

Colin Henderson

Nice thoughtful read for the weekend. Joe talks about, and provides examples of how we are moving to new age, beyond the Information Age. joeandrieu.com » Blog Archive » Leaving the Information Age We move from one great age to another when, as a Society, we let go of the trappings of the previous age and begin to define ourselves in new terms, absent the defining elements of yesteryear. We no longer think of ourselves as farmers or factory workers… the Information Age has knowledge workers, and we largely define ourselves by the information accessories in our lifestyle: our iPod, … Continue reading Leaving the Information Age | Joe Andrieu