AI2 Comments

How NOT to do social

Colin Henderson

 Seth describes well the antithesis of not just good internet sense but of good business sense.  Their approach is the web / social equivalent of email spam. I get emails too, but generally they are from like minded people, and even then I only post with attribution, and when it suits me and this site. Anything less would be a total failure in my view. Over the last few weeks, I’ve received several emails, all the same, all from real people at Reed. They baldly (and boldly) ask me to swap links with them as part of a scheme to move … Continue reading How NOT to do social

AI

IBM – Unlocking client advocacy in Canadian retail banking

Colin Henderson

 New piece of research and analysis from IBM, that may be an update on an earlier one, if I recall.  It talks about the lack of advocacy within Canadian Banks’ customers. Only 27% of Canadian customers are advocates of their banks, compared to 34% for Credit Unions.  That’s a massive gap. Building the base one client at a time through cross-sell, retention and new customer acquisition is a top priority in nearly every retail bank’s agenda. However, many banks have yet to identify the right segment-based strategies, marketing and sales programs, employee incentives, and process and technology improvements to produce … Continue reading IBM – Unlocking client advocacy in Canadian retail banking

Uncategorized

Sales of Music, Long in Decline, Plunge Sharply

Colin Henderson

 This statistic is notable for all industries including Banking.  While its interesting to note small changes year over year, hockey stick effects, where sudden shifts occur will happen when industries are under threat. This despite the efforts of the music industry giants to use every means at their disposal, including competitor efforts, alliances, and legal action.  The message is that seismic shifts caused by internet disruption, require seismic strategy changes.  In any event the inevitable cannot be stopped. In a dramatic acceleration of the seven-year sales decline that has battered the music industry, compact-disc sales for the first three months of … Continue reading Sales of Music, Long in Decline, Plunge Sharply

Profitability

BMO eliminates broker mortgages

Colin Henderson

 BMO follows through on something that makes good sense.  This move eliminates internal competition for the same mortgage product, and allows the bank to focus on optimising the process for acquiring mortgages, once.  Previously, broker mortgages were understood to comprise a significant percentage of all mortgages acquired. The bank is no longer buying third-party mortgages and in the past month it decided to stop using mortgage brokers, Frank Techar, the bank’s head of Canadian personal and commercial banking, said at a conference. Bank of Montreal said it will stop using brokers because their business, although profitable, brings in the lowest spread, … Continue reading BMO eliminates broker mortgages

Business Models, Social networks1 Comment

Social software · War for talent, corporate culture and social software · Shaping Thoughts

Colin Henderson

Some interesting notes from Marcel on the internal workings within ABN Amro.  Internal research on the corporate culture has shown that employees are afraid to speak up, fearing management backlash and impacting ones’ career. ABN AMRO management thinks that in order to remain competitive it needs a more open culture in which people feel comfortable to give feedback and provide idea’s for improvement. Source: Social software · War for talent, corporate culture and social software · Shaping Thoughts Its bizarre story including a fake guru, who wormed his way into the Bank to help them address their problem. Anyhow, Marcel asks the … Continue reading Social software · War for talent, corporate culture and social software · Shaping Thoughts

Uncategorized2 Comments

Neil Young, Live At Massey Hall, 1971

Colin Henderson

 Just got around to downloading this tonight from itunes.  Good grief – its eerie to hear him shift from ‘Maid’ into “Heart of Gold” with zero audience reaction;  its too new – they hadn’t heard it yet! This is a must listen for any Neil Young fan Source: A VC: Neil Young, Live At Massey Hall, 1971 Here is Ohio live:  I didn’t even catch him live till ’76 – 5 years later – wow! http://www.youtube.com/watch?v=Eh44QPT1mPE   Technorati tags: Neil+Young, 1971, Massey+Hall, Toronto Continue reading Neil Young, Live At Massey Hall, 1971

Payments2 Comments

Skype to offer money-transfer system via PayPal

Colin Henderson

 EBay who own both these companies comes up with a real industry disruption winner, offerring mobile payments via Skype. SAN JOSE, California (Reuters) – Web telephone calling service Skype will shortly begin allowing users to send money to other Skype users via the PayPal online payments system, Skype co-founder Niklas Zennstrom said on Tuesday. Speaking at a technology conference in Silicon Valley, Skype Chief Executive Zennstrom said the company is working with PayPal, but declined to say exactly when the service would be made available to Skype’s tens of millions of global users. Source: Skype to offer money-transfer system via … Continue reading Skype to offer money-transfer system via PayPal

Middle East

Dubai becomes Iran’s business hub

Colin Henderson

 Interesting perspective that the mainstream Western News has missed.  DUBAI, United Arab Emirates — “Dubai is the most Iranian of cities,” said Mohammed Reza, an Iranian expatriate who has lived in the Gulf emirate across the waters from the Islamic republic since 1998. According to the Iranian consulate in Dubai, at least 400,000 of the UAE’s 4.1 million residents are Iranian. The numbers have almost doubled since 2003. Iran’s status as an international pariah, which has increased since President Mahmoud Ahmadinejad’s election in 2005, has forced many nationals overseas. Source: Dubai becomes Iran’s business hub – Business – Middle East … Continue reading Dubai becomes Iran’s business hub

Uncategorized

More on the Barclays, ABN Amro potential merger

Colin Henderson

 I have always had a soft spot for Barclays, having worked for a subsidiary at the time (British Linen Bank) that subsequently was swallowed up by Bank of Scotland. Interesting that an Irishman who put BMO back on the map, also did the same for Barclays taking them down an international track, that has just been plain successful. This post describes the latest scenario’s and outlines the scale of the joint operation, that would place the joint operation at about 5th in the world in terms of capitalisation. Mr. Barrett chose the international route. By 2004, when he switched from … Continue reading More on the Barclays, ABN Amro potential merger

Social Lending

Prosper Strengthens Management Team

Colin Henderson

 Today is the day for Social Lenders to update their management teams.  Prosper follows with a new CMO and CFO. America’s first people-to-people lending marketplace, today announced the appointment of consumer financial services marketing veteran Robert Klapper to the position of Chief Marketing Officer, and finance and operating performance expert Kirk Inglis to the position of Chief Financial Officer. “These leadership appointments strengthen our management team and will help us continue to scale the marketplace and create a mass market for people-to-people lending,” said Chris Larsen, Co-Founder and Chief Executive Officer of Prosper. Source: Prosper Strengthens Management Team   Technorati tags: … Continue reading Prosper Strengthens Management Team