With that statement, Tom Bawden strikes at the core of the online advertising model. The data suggests that Google may be less powerful than people thought, at a time when the search engine is seeking to widen its empire – and drawing fresh criticism almost every day as a result of its perceived growing dominance. Source: The Times The storm in a teacup episode arose, when Google planned a party in Boston to co-incide with an Ebay event, and the result was that eBay pulled all advertising in Google. Teacup storms aside, the bigger question that immediately struck me was … Continue reading “The data suggests that Google may be less powerful than people thought”

While Jim has his tongue firmly in cheek with this comment, its not so far off. If your strategy is to be everywhere for everyone, then consider the new Safari strategy. So go ahead and start building your Safari-optimized 336 x 168 by webpage. Make sure you drop a few nifty icons on the page so Mac users feel at home (see inset). Extra credit if you launch the page on 5:59 PM EDT June 29, 1 minute before the iPhone goes on sale on the East Coast. Source: Netbanker I have been absorbed by Marc Andreessens recent blogging, and … Continue reading Online Banking: an application or a platform capability?

Ron is dead on here. First comes business strategy, then comes channel strategy. He quotes the perfect opposites in that regard, Edward Jones, and ING. … … it’s because many banks don’t have a coherent business strategy. Not because they don’t have a channel strategy. Source: MarketingROI Banks are all chasing online banking superiority, in a no-win arms race situation. No one will ever win an arms race. In fact everyone participating will actually lose. When I wrote the other day about ‘niching’ [pardon the new verb] I didn’t explain arms race in a banking context. The arms race was … Continue reading First get the strategy figured out …..

This article courtesy of Finextra, will have branch advocates cheering. Yet the background is not that rosy. The majority of customers still prefer to do their banking and buy financial products at branches because of poor performance of Internet and telephone channels, according to a global retail banking study conducted by management consulting firm Booz Allen Hamilton. Customers prefer branches because they cannot get good service, or worse avoid bad service, unless they insist on a personal experience with someone who knows them. This is a hindrance to both customers expectations, and Banks desire to further automate. But the study … Continue reading Customers often prefer branches, but for the wrong reasons

After talking about niches as a means to both understand and exceed customer expectations for Banks, here is an example from a previous industry leader. Hat tip Netbanker. I first met Chip Mahan in 1995 when he was at the helm of Cardinal Bancshares and about to launch the first Internet-only bank in the world, Security First Network Bank. That effort eventually spawned S1 Corporation, now a leading banking tech company, with a half-billion market cap. Chip is now setting up new Bank, Live Oak Banking Company, and expects to have a charter in 6 months. The plan is to … Continue reading Ex S1 CEO moves ahead with Live Oak Banking Company

Every Bank says it focusses on customers. I found this article fascinating because it sounds so typical. They have an internal target for loyalty, yet their tactics are failing. In its internal ratings, the bank strives for customers who rate their satisfaction a 9 or 10 on a 10-point scale — most recently about 52 percent companywide. The bank won’t divulge its goal. In the push for No. 1, Morais said the bank will look at other surveys such as the Michigan index. To boost scores, Bank of America has a number of initiatives under way, Morais said. Last week, … Continue reading Bank of America focus on customer is disturbed by growth, or is it something else?

There is a fairly new blog, run by Alex and the team at Arvetica, out of Geneva. I met Alex and some the team while at LIFT. Some good thinking going on there, and in particular the stuff on differentiation, and innovation. Our aim is to help Swiss and global private bankers and wealth managers find new inspiration and fresh ideas. We will publish industry trends, analyze innovative business models, issue various surveys and give thought leaders a unique platform. The blog shall become the reference point for the private banking and wealth management community by aggregating best practices, reports, … Continue reading Private Banking Innovation – a new blog