AI

International remittances – update

Colin Henderson

 I feel I am on a real Bank bashing thing at the moment.  International remittances are another thing we blogged about many times earlier. Now some big agendas are starting to become more obvious. 19 mobile firms are backing the GSM Associations pilot programme to move Global Remittance onto mobile platforms. Estimates vary but the UK send back home £2.5 billion in a year. With fees being anything from 6% to 12% that makes for very sound business. At a global level around $230 billion is sent home annually. Source: Mobile remittance – the call you want to get « Credit … Continue reading International remittances – update

US

Bank of America – mobile banking for 21 million customers

Colin Henderson

 This new service is a natural extension for BofA and their approach is good.  They are levering Sitekey (PassMark) to validate their customers, and let customers validate BofA. Subscribers to the free service will be able to use their cell phones and smartphones when they’re on-the-go to check account balances, pay bills and transfer money. The bank is launching the service in Tennessee beginning in March and will roll mobile banking out to markets across the country through mid-year. Source: Finextra: Bank of America to introduce m-banking This service is in addition to other cross channel services already in place. … Continue reading Bank of America – mobile banking for 21 million customers

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Deposit a cheque through online banking – USAA

Colin Henderson

 Well this is the ultimate in cheque truncation – scan the cheque at home, and process online. Enter details about the check, scan the front of the check, scan the back of the check, confirm the transaction,  destroy the check. Done. The entire process took just a minute and I never left my seat or sealed an envelope. Source: NextCU.com: USAA Deposit@Home – Another WOW moment for ‘Net Banking While cheques are not that prevalent in the retail market, small businesses still use lots of them, and in the US they are common still.  More importantly, there is nothing holding … Continue reading Deposit a cheque through online banking – USAA

AI

"TNS Canadian Facts" – online banking and ATM stats 2006

Colin Henderson

 TNS have been consistently measuring since 1994.  While their numbers always look low to me, they are relevant for trend watching. 60% of Canadians online, have signed up for online banking, and 37% use online banking in the past month.  53% visited a branch, and that’s the lowest number ever as the trend goes down. The traditional bank branch continues to lose ground in Canada as consumers conduct more day-to-day transactions at self-service banking machines (ABMs) and over the Internet, according to an annual tracking study by TNS Canadian Facts, a Toronto-based marketing research firm. Source: Finextra: Canadian bank branches … Continue reading "TNS Canadian Facts" – online banking and ATM stats 2006

Smart Cards

Holland – debit cards eating up smaller transactions

Colin Henderson

 Some stats from Linkdump indicating that debit cards are achieving scale in the smaller payments, that some had hoped stored value smart cards could achieve. … the debit-card eats up the low value segment Source: Linkdump on Payments: Debit card moves in on low-value payments   Technorati tags: smart+cards, debit+cards, Holland Continue reading Holland – debit cards eating up smaller transactions

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Lift07: Interview with Colin Henderson – bloxpert.com

Colin Henderson

I was fortunate enough to be included in Nicole’s pre LIFT podcast.  Sorry it was done via Skype just before I left, and I didn’t have time to put this up before.  Nicole did a far better job than I could at pointing out the threats that face Banks, and we included a fair bit on Paypal, and branch centric banking.  Nicole lives in Germany.  While you are there, I recommend the interviews with Lee Bryant & John Buckman, as they are indeed thought provokers. Lift07: Interview with Colin Henderson Source: Lift07: Interview with Colin Henderson – bloxpert.com   Technorati tags: podcast, … Continue reading Lift07: Interview with Colin Henderson – bloxpert.com

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The problem with meme’s – view is too narrow

Colin Henderson

 Scoble makes a point here on the “Wikipedia out of cash” meme, that TechMeme doesn’t link to the appropriate blogs.  There is a big story emanating from LIFT about Wikipedia.  The point is not the story … the point is the reporting of the story, and the people who had the relevant and original reporting. Here’s something that’s bugging me about TechMeme today Source: A bug with TechMeme& « Scobleizer – Tech Geek Blogger TechMeme and Digg both have the problem of being very focussed on a small group of bloggers.  Here is why I worry about this.  Discussion are … Continue reading The problem with meme’s – view is too narrow

Profitability

Bank fees cannot exceed the underlying cost – its the law

Colin Henderson

 Oz points out something that I have never heard of, but makes eminent sense.  In Canada people complain about Bank fees all the time.  Wait till the local politicians get a hold of this one.  There has been a barrage of complaints about ATM surcharging lately and seeing this just confirms to me that banks and fees are in trouble. This is driven by UK law that fees and charges must be no more than actual cost of the activity being undertaken. Source: Bank Fees and Charges « Risk Management in Australia   Technorati tags: profitability, bank+fees Continue reading Bank fees cannot exceed the underlying cost – its the law

Business Models

Who is moving fastest – Universities, or corporate?

Colin Henderson

 Phil expresses some frustration about campuses and their totalitarian attempts to control users, and how perhaps corporate’s will become more open.  That said, with changing business culture, corporate networks are probably going to become more like campus networks than the other way around Source: Phil Windley’s Technometria | Conflicting Roles and the Use of Tor In my experience and speaking to others, I have to say I see no sign, or even light on the horizon for Banks to open up their networks.   Technorati tags: bank+networks, cluetrain, networked+employees Continue reading Who is moving fastest – Universities, or corporate?