Rise of social lending attributed to increased comfort with internet, and online trust


 Dolton, the new global CEO for Zopa describes how he sees the environment, in an interview with Red Herring. Mr. Dolton ascribed the flurry of activity in online lending to several factors: increased comfort with electronic media among more people, greater transparency in lending rates across the country, and the rise of companies like eBay, which operate on trust. Source: RED HERRING | Bye-Bye Bankers? Still no dates given for the US entry however.  This is taking longer than expected, no doubt as a result of work associated with regulatory approvals in the various US jurisdictions. We obviously have a … Continue reading Rise of social lending attributed to increased comfort with internet, and online trust

"I did! I did taw a puddy tat!" – The great Tweeter debate, is the wrong debate


 I am increasingly fascinated by the debate on the Twitter phenomenon.  Twitter in case you haven’t heard, is the latest thing in the social space.  It permits users to type in any brief comment, of up to 140 characters, any time they wish.  It has been referred to as micro-blogging.  The encouragement is to talk about anything, and everything, what you are doing where you are going, what you are feeling, thinking, etc. The great paradox of ‘social networking’ is that it uses narcissism as the glue for ‘community’. Being online means being alone, and being in an online community … Continue reading "I did! I did taw a puddy tat!" – The great Tweeter debate, is the wrong debate

Finextra: Zopa raises $12.9m in series c financing; names Dolton global CEO


Zopa continue to prepare for their US launch with an additional $12.9 million raised from Bessemer.  This is in addition to about $22 million (if I remember correctly) that they have raised so far.  Zopa will use the series c investment to fund the launch of the service in the US, as well as for the continued development and growth of operations in the UK. Source: Finextra: Zopa raises $12.9m in series c financing; names Dolton global CEO They have also announced a Global CEO, Douglas Dolton, who brings a background in unsecured landing to students (Chelea Education in San … Continue reading Finextra: Zopa raises $12.9m in series c financing; names Dolton global CEO

Barclays in £80bn offer to ABN Amro


 The scale of this potential match-up would make it one of the worlds largest Banks. BARCLAYS has approached Dutch bank ABN Amro with an ambitious merger plan that would create a global banking powerhouse worth £80 billion. The informal approach occurred after ABN Amro became embroiled in a bitter battle last month with activist hedge fund, The Children’s Investment Fund (TCI). Barclays and ABN combined would create one of the world’s biggest banking groups Source: Barclays in £80bn offer to ABN Amro-Business-Industry Sectors-Banking & Finance-TimesOnline There would be nearly 50 million customers in the potentially combined entity. A deal would … Continue reading Barclays in £80bn offer to ABN Amro

Its election time: Service charges under fire in Canada again


 Prompted by the Minority NDP party, the government who are operating under a minority mandate in Canada are getting serious about questioning the Banks and not just their ATM fees. but all fees. What intrigued me one headline, and this comment in the body. But most consumer advocates would be delighted if the Commons finance committee succeeds in getting an ATM cost breakdown from the banks. Source: TheStar.com – Business – Convenience at what cost? If they saw the costs in running ATM’s, this would hurt not help their argument.  I would speculate that the costs would be in the … Continue reading Its election time: Service charges under fire in Canada again

Whats beyond AdSense?


 Seth does a nice job of laying out the evolution of advertising until today.  Where he loses me, is in the assessment of today, and Google AdSense. The most effective online ad buy is AdSense, where you bid for traffic and pay by the click. This is permission-based, because your ad shows up next to a Google search or on a relevant page. So the people who are seeing it are the right people. And the click demonstrates that they want to see your page. Source: Seth’s Blog: SquidOffers Google AdSense is not permission based IMHO.  Why? …. because no-one asked me … Continue reading Whats beyond AdSense?

What you are reading about mostly, at Bankwatch


Here are the stats for the last 30 days ranked by page views for individual posts.  These stats are based on clicks to an individual post.  It won’t count those who read something on the main page.  So its directional only. Wesabe is the clear winner by several lengths.  Other observations: future oriented works for most Second Life/ virtual is popular – something new and original Banks without branches intrigues 2007-02-15 to Today  Title                                                                                                Views Wesabe leads the way in all financial services  235  How to web 2.0 your bank  163  Banks in Second Life – worth a look  105  … Continue reading What you are reading about mostly, at Bankwatch

Customer Deflection Mismanagement


 Doc describes precisely what is so annoying about Banks, Telco’s and other large companies, yet we continue to design them this way …  sigh At one point the call center maze voice tells me to enter my account number and my telephone access code, whatever that is. So I guess it might be the last digits of my social security number. Nope. How about the last four of my company’s federal ID number. No luck. The last five digits? Six? Bzzzt. Then I try just punching zero at every possible choice point. But the system keeps telling me to now … Continue reading Customer Deflection Mismanagement

Ballmer characterises Google as both cute, and insane


 This is a remarkable set of comments from the leader of a company that is itself in serious strategic difficulty. Ballmer suggested that Google was growing too fast, and had failed to make a success of efforts to diversify beyond search with ads. He dismissed Google’s various other projects as “cute” to chortles from the assembled business students, and commented that “a random collection of people doing their own thing” might not add value. This was taken by many as a jab at Google’s well-known practice of allowing its engineers to spend 20 per cent of their working hours on … Continue reading Ballmer characterises Google as both cute, and insane

Wells Fargo enters MySpace


Ed at Wells noted that Wells has entered MySpace with a new avatar, Cassie Hill.  This is brilliant stuff, and pushing the bounds of any traditional banker.  This requires that traditional views be suspended, and let the new experience work its own destiny.  Customers, prospects, and users will take this somewhere, and that experiment is worth its weight in gold, when we think in terms of 2010 – 2015. In Eds words: The profile is for Cassie Hill, our Stagecoach Island ambassador avatar.  If you’re not familiar with Stagecoach Island, it’s a virtual world (originally started in Second Life, since … Continue reading Wells Fargo enters MySpace