AI25 Comments

Online only Banks (branchless Banks)

Colin Henderson

A colleague asked me about online only Banks, and I thought I would stick my response here, and seek any updates from readers. There are very few online only banks, and online only is often a misnomer, because they have call centres. Here are the ones I am aware of to date. this list is being updated as I receive information about worldwide online banks – again the definition being Branchless – meaning no reliance on branches. Global ING Direct – global site US iGoBanking ETrade Bank http://www.netbank.com http://www.mybankingdirect.com hsbcdirect UK Egg First Direct RaboDirect (Ireland and Belgium) Poland http://www.mbank.com.pl … Continue reading Online only Banks (branchless Banks)

online+banking

Intuit to acquire online banking specialist | CNET News.com

Colin Henderson

 Intuit continue their foray into online banking, and in particular the focus on the under-served small business market, with this highly significant acquisition of Digital Insight. Digital Insight specialise in provision of online banking for mid sized US banks. Intuit announced on Thursday plans to acquire on-demand applications provider Digital Insight for $1.35 billion in cash, giving Intuit deeper inroads into the banking industry. Intuit, a financial-management software maker that focuses on consumers and small businesses, will pay Digital Insight shareholders $39 per share for each common share they own. The deal is expected to close in the first quarter. … Continue reading Intuit to acquire online banking specialist | CNET News.com

US

Electronic Bill Payment and Presentment – North America

Colin Henderson

The Lloyds Bank announcement bringing EBPP to UK, prompted a brief review of the state of EBPP in North America, and the lessons there. CheckFree is the primary operator in US, and epost in Canada.  Epost has just this last week been folded into the parent Canada Post (The Canadian Post office).  Epost has a somewhat unique view of the EBPP market, as it carries the rights and legal support that traditional mail would have, into the digital space.  To date the results have not been as strong as would have been hoped for, as they wrestled a difficult biller … Continue reading Electronic Bill Payment and Presentment – North America

AI

What is OneVu?

Colin Henderson

Thanks to Dave for pointing out in the comments that Voca and CheckFree brought out their joint initiative in UK March 2004.  This presentation (pdf) presented by Carole Melson reviews the details.  This initiative will provide EBPP (Electronic Bill Presentment, and Payment).  This provides a digital replica of the bill online, simple one click payment of that bill, and storage of the bill along with record of bills paid. A Joint Venture between Voca and CheckFree providing bank-centric Electronic Bill Presentment and Payment consolidation in the UK A ‘one-stop shop’ for bill management * The authenticated online bank customer can … Continue reading What is OneVu?

AI6 Comments

Lloyds TSB online banking ‘revolutionised’ – Money News

Colin Henderson

The press release title is a bit of a stretch to suggest ‘revolutionised’ but the feature sounds like it has potential.  Lloyds TSB has revolutionised its online banking facilities by adding a new bill manager feature, allowing customers to view, pay and store their household bills online. Source: Lloyds TSB online banking ‘revolutionised’ – Money News But what a let down when I visited lloydstsb.com to check this out.  No mention on their site, and I gave up with the demo when it tried to install the Microsoft Virtual Java machine.  So I will have to speculate – this is a … Continue reading Lloyds TSB online banking ‘revolutionised’ – Money News

AI3 Comments

NetBanker 2.0: E*Trade Bank and Flushing’s iGoBanking join the 5% online savings account club

Colin Henderson

 NetBanker covers the introduction of two new high rates savings accounts, and see the post for the success of their first day. # E*Trade Bank: Its new 5.05% Complete Savings Account was advertised in the Wall Street Journal today # iGoBanking: The new online brand from Flushing Financial launched Monday with a 5.3% rate Source: NetBanker 2.0: E*Trade Bank and Flushing’s iGoBanking join the 5% online savings account club This is an opportunity to review their offerrings.  Other Banks – watch out – this is good stuff. ETrade Bank: no minimum deposit no account fees no ATM fees open an … Continue reading NetBanker 2.0: E*Trade Bank and Flushing’s iGoBanking join the 5% online savings account club

Uncategorized

Does anyone really know what is happening with eCommerce?

Colin Henderson

These three headlines over the same US Thanksgiving period, have totally different views.  Its either really bad, slightly up, or way up – huh! Web sales down on Black Friday – Yahoo! News QUARTERLY RETAIL E-COMMERCE SALES – 3rd quarter sales are up Cyber Monday E-Commerce Spending Beats Forecast The three sources are respectively, Visa:  negative US Census:  conservative Comscore:  optimistic No point really, except don’t believe everything you read!    Technorati tags: ecommerce, statistics Continue reading Does anyone really know what is happening with eCommerce?

Security, Social networks

CAPTCHA, Spam, and Banks’ responsibilities

Colin Henderson

 Since I picked up on Markus post the other day, there seems to be a fair bit of interest in this topic.  CAPTCHA are those things that require you to read and re-type some mixed up characters.  This is intended to validate that you are in fact a person trying to comment on a blog, and not a spambot. Well I went to my old faithful, Wikipedia, and they have about twenty links about how to defeat CAPTCHA. Defeating CAPTCHAs Source: CAPTCHA – Wikipedia, the free encyclopedia Hopefully MySpace and others using that convention will source other and better methods of capturing … Continue reading CAPTCHA, Spam, and Banks’ responsibilities

Social networks1 Comment

The Epoch Times | Empowering the Poorest

Colin Henderson

 At the Global Microcredit Summit held November 12-17 in Halifax, Canada, Muhammad Yunus was the guest speaker. Also, Citizens Bank made a very future friendly initiative public. And now, we can use our own funds just as Muhammad Yunus did in the early days. This week, Citizens Bank announced that they will offering there version of a Shared World investment fund where Canadians can invest their RRSP’s to be put to work in the developing world as revolving microcredit loans. What a powerful example of a win-win! We get to save for retirement while simultaneously helping millions of the poorest … Continue reading The Epoch Times | Empowering the Poorest

Social networks

Internet social lending emerges as potential bank rival – Banking Business Review

Colin Henderson

 Interesting results of a survey in UK suggesting surprisingly large percentage interested in social lending.  Less surprising is that few believe Banks act in their best interest.  That’s a sad statement. 27th November 2006 By Clare Watson A survey by the Social Futures Observatory has found that 74% of Britons would consider online social lending, a service where people who wish to borrow money are put in touch with those who wish to lend it, as a serious alternative to their high street bank. The survey also revealed that only 15% of those questioned believe the main aim of their bank … Continue reading Internet social lending emerges as potential bank rival – Banking Business Review