Wells Fargo upgrades site to proportional pages


Nice upgrade at Wells with proportional page setting.  Try re-sizing your browser and you will still see everything.  This has been a personal bug bear of mine as to why Banks don’t do this.  Google and Yahoo have been doing this for years. We are the nation’s leading retail mortgage lender Source: Wells Fargo Home Mortgage Chase is the only other of the big ones in North America that I can locate doing this. Citi look wide, but it doesn’t adjust to the browser window. Hat tip to Paymentsnews. On a separate note, Wells and Citi are two of the very … Continue reading Wells Fargo upgrades site to proportional pages

RSS and readers are not ready for confidential information


We have a lot of conversation about RSS feeds and their usage for confidential information, such as balances, and bill payments and other information, that toady is behind security, firewalls, and authentication. I see RSS feeds as no different than emails.  Many times in a Google search, I have encountered an RSS feed, when I assumed I was clicking through to a web page.  There is such thing as authenticated feeds, but as far as I know, those are not secure. NetBanker points out BillQ which uses feeds for communication to customers. And there is enormous potential for feeds in … Continue reading RSS and readers are not ready for confidential information

US Payments statistics | Nilson


PaymentsNews report on the latest Nilson report and payments volumes in the US.  As much as internet is embedded in our lives, its always partly disappointing, and partly challenging to see the overall status of electronic payments.  But electronic has reached 10%, and a certain proportion of the card volume is online too, so progress is being made.  Charts like this always beg more questions than answers, but unfortunately this is all we have on this proprietary research.   Technorati tags: payments, US, electronic+payments Continue reading US Payments statistics | Nilson

Dodge hints at bank merger support, urges more efficiency in financial system


In the clearest signal for a while, the Governor of the Bank of Canada signalled that mergers would be a good thing for Canada.    Improving efficiency is everybody’s business. Once policy-makers do their job, it is up to the private sector to respond and take advantage of the opportunities to improve efficiency,” Dodge said. Source: Dodge hints at bank merger support, urges more efficiency in financial system My take ….  mergers are good because they shake things up, but … Mergers would be particularly good if a non Canadian Bank came in and bought out a Canadian Bank.  Not for … Continue reading Dodge hints at bank merger support, urges more efficiency in financial system

OpenID login strawman


 Chris posted this strawman login that toggles between OpenID and old style username password.  Seeing this was very useful for me, and really illustrates the power of OpenId.  Consider ….  selecting OpenId would mean your personal preferences would follow you, no matter which site you are logging in to. Link to Flickr Photo Download: OpenID login strawpeople   Technorati tags: OpenId, authentication Continue reading OpenID login strawman

Egg Bank gives internet banks a bad name


 This is an illuminating article summarising the reasons that Egg doesn’t work, and the reasons are all associated with bad implementation, and problems with the parent.  The Pru needed the proceeds to shore up its UK operation, but no deal was consummated and the saga ultimately claimed the scalp of its then chief executive Jonathan Bloomer. Source: Pru needs to be shot of its Egg bogeyman – Markets – Times Online Some of the implementation issues are highlighted with the resultant bad debts. But still the problem won’t go away. Egg’s profits have wilted, and it is heavily exposed to … Continue reading Egg Bank gives internet banks a bad name

Mobile telephony and banking | Phoney finance | Economist.com


 Another article on the topic of mobile banking in Africa  Earlier we posted a reference to Wizzit.  Here the Economist talks about the challenges of authentication, and usability, but there are several players in this space in Africa. There appears to be a real need for the service. A simplified kind of account called Mzansi was launched in 2004 to reach the unbanked, and portable banks and ATMs have been rolled out in townships and in the countryside. To this fast-changing scene, mobile-phone banking looks to be a promising addition. Millions of South Africans send money to their relatives in … Continue reading Mobile telephony and banking | Phoney finance | Economist.com

Sangli Bank merges with ICICI Bank


It seems to be merger week, with this one in India, creating much synergy between the banks, with the smaller banks focus on very small balance customers. MUMBAI, DEC 9 : The board of directors of ICICI and Sangli Bank on Saturday approved an all-stock amalgamation of the latter with ICICI Bank. The deal will be in the ratio of one share of ICICI Bank for 9.25 shares of the privately-owned, non-listed Sangli Bank. …… ICICI Bank will seek to leverage Sangli Bank’s network of over 190 branches and existing one lakh customers and 1,850 employees in urban and rural centres for its rural … Continue reading Sangli Bank merges with ICICI Bank

Could P2P lending have the perfect opportunity in Australia?


In response to Charis post, I would be more inclined to think that the credit bureau system down under precisely supports P2P lending, particularly with the Prosper model. Prosper is in essence eBay for loans, so its focussed on the reputational value of members, and the community advice, groups etc to ensure loans losses are minimised. Lack of adequate Bureau reporting would provide an additional competitive advantage P2P lending. This might be a hindrance for Zopa, who take on the risk assessment on behalf of their members. Lack of positive information, would require them to rethink their approach used in … Continue reading Could P2P lending have the perfect opportunity in Australia?

Prosper – "Libertarian Paternalism" – eBay for loans


 This is easily the best article I have read about Prosper.  They have interviewed real borrowers and lenders in Prosper, and you can really get inside their model by reading it. Most loans are funded by dozens of lenders who bid $50 each, the minimum allowed. Prosper keeps a 1 percent loan-originating fee (a one-time $25 charge for a $1,000 loan), and bills the lender a 0.5 percent annual loan-servicing charge. Borrowers have three years to pay off the debt, with no penalty for pre-payment. Basically, Prosper is a peer-to-peer lending auction with a human element. Source: CSIndy: The loan … Continue reading Prosper – "Libertarian Paternalism" – eBay for loans