As much as we think we have issues with marketing in North America, its not as bad as elsewhere, and indications are that it will only become more irrelevant to follow old methods. Within the Banking industry there generally remains a resolve to ignore the evolution that is happening, and its useful to watch reactions in other countries as a reminder. Within the Middle East, particularly UAE, and Saudi Arabia, where internet is relatively newer, there are lessons in watching and listening. Consumers in Saudi Arabia have more devices per household that US, and even India is close, despite being … Continue reading Business

General

Gulfnews.com | Media targeting a divided audience

Open Source Banking1 Comment

The 37-year-old real estate agent paid $1,800 to bump up his credit score

2007-07-21 Colin Henderson

There is no end to creativity when it comes to credit. There is a new cottage industry driven by people with bad credit, but otherwise able to afford a mortgage. Daily Herald – Borrowing others’ credit roils housing industry Only a low credit score stood between Alipio Estruch and a mortgage to buy a $449,000 Spanish-style house in Weston, Fla., a few miles west of Fort Lauderdale. Instead of spending several years repairing his credit rating, which he said was marred by two forgotten cell phone bills and identity theft, the 37-year-old real estate agent paid $1,800 to an Internet-based … Continue reading The 37-year-old real estate agent paid $1,800 to bump up his credit score

Payments

Tempo Debit allows institutions to establish debit card relationships with consumers other than their own checking account customers

2007-07-202007-07-20 Colin Henderson

Thanks to Bruce at Javelin, for this tip. While his point is the end of the prospective merchant centric debit system, I also see here the opening for new services from Banks. Tempo | News & Events SAN MATEO, CA — July 17, 2007 — Tempo Payments, Inc., today announced the availability of Tempo™ Debit, the first debit solution that enables financial institutions and other issuers to rapidly deploy comprehensive ACH-based debit card programs. Shattering long-standing barriers to increased debit card use, Tempo Debit allows institutions to establish debit card relationships with consumers other than their own checking account customers. … Continue reading Tempo Debit allows institutions to establish debit card relationships with consumers other than their own checking account customers

Value added services to enhance the customer experience

2007-07-192007-07-19 Colin Henderson

Here is a brilliant, yet simple additional service provided by Tesco Finance. Finextra: Tesco launches online used car checker The online checker helps motorists to check if a car: has finance outstanding on it is registered as an insurance write-off is recorded as stolen on the Police National Computer has been clocked Continue reading Value added services to enhance the customer experience

Innovation

Public Policy and the Future of the internet

2007-07-182007-07-18 Colin Henderson

Thanks to JP for this link to a speech at PEW, by Lee Rainie. There is a wonderful simplicity, and clarity capured within these three policy matters for internet. They are policy, but they are also areas that require development, new tools to support, and likely help policy along. I cannot imagine awaiting policy makers to do something. Of librarians, preachers and 911 operators…. | confused of calcutta I want to highlight three major areas of policy ferment that will play out in the coming decade. The first policy debate involves what kind of internet we have – from an … Continue reading Public Policy and the Future of the internet

Open Finance, Open Source Banking, Profitability2 Comments

“Make it much easier for consumers to find those institutions whose revenue models most meet their needs” | Bankwatch Interviews Marc Hedlund, Wesabe

2007-07-182007-07-18 Colin Henderson

After the post on Wesabe and their new API, I was fortunate enough to be able to pose some questions to Marc. I chose three questions, and I am thrilled at the result and the time Marc took to provide his valuable insights. In particular, I would point readers towards two takeaways that I got from this: Wesabe is 100% consumer oriented, and specifically around the disproportionate increase in Bank fees, which is out of sync with both costs, and Banks’ brand messages how Wesabe views information, and through a combination of interpreted data, plus users evaluations, can produce meaningful … Continue reading “Make it much easier for consumers to find those institutions whose revenue models most meet their needs” | Bankwatch Interviews Marc Hedlund, Wesabe

AI3 Comments

Young Adults Bank by Web and Phone

2007-07-172007-07-17 Colin Henderson

This is obvious stuff, but once in a while its nice to read. Young Adults Bank by Web and Phone – eMarketer Dan Schatt of Celent said, “GenM is the first generation to grow up online and to grow up without the need for a landline phone. Given the ubiquity of mobile handset adoption and Internet usage among college students, banks that want to tap into this demographic will have to invest heavily in the mobile and Web channels, the number one preferred way for this segment to communicate and obtain information about financial providers.” Some less obvious conclusions from … Continue reading Young Adults Bank by Web and Phone