Security

"Canadian online brokers are phished"

Colin Henderson

It appears the world of phishing and account takeover has reached online investing.  It was only a matter of time, and this is is first instance I recall.  “This week, a pair of Canadian brokerages, including BMO InvestorLine, discovered that someone had gained unauthorized access to a handful of client accounts, and then liquidated the portfolios. The money was used to place orders for securities listed on the OTC Bulletin Board and the Nasdaq pink sheets, apparently with the intention of manipulating these stock prices, according to the Investment Dealers Association of Canada.” Source: “Canadian Banks & Insurance – Mozilla Firefox” The story … Continue reading "Canadian online brokers are phished"

AI

"Old models for CRM are not sufficient"

Colin Henderson

 This picture from a 1999 report by McKenna group was quite far-sighted in its day, and remains largely relevant.  But the box that refers to campaign management and planning needs more work.  That single catch all is not sufficient in the new marketing paradigm. Otherwise its a good report, that foresaw many of the problems in most CRM implementations. Link to “calhoun_fig2b.gif – Mozilla Firefox” Continue reading "Old models for CRM are not sufficient"

AI1 Comment

Customer centricity is an essential goal – some attributes for marketing technology

Colin Henderson

Over at The Marketers Consortium, Elana Anderson of Forrester Research, is guest host.  In this post she asks if Customer Centricity is a realistic goal.  This is something I looked at here, and co-incidentally (honest) I referred to a Forrester article in that one. This was my comment, and I wanted to elaborate after on this. Customer centricity is an essential goal. Anything less is going to be product focussed, or single channel focussed. These will fail because the media savvy customer is protecting themselves from the results of such activities. We have to consider the media savvy consumer of the … Continue reading Customer centricity is an essential goal – some attributes for marketing technology

Innovation, Open Source Banking, Web/Tech4 Comments

"Techcrunch » Blog Archive » Google Makes Its Move: Office 2.0 – time for Banks to rethink Office Suite strategy?"

Colin Henderson

 Google have release their first burst after a series of beta’s. “This is a bold move by Google. They are striking hard at a nearly $12 billion/year Microsoft revenue stream. And they are clearly trying to get this out the door fast, in anticipation of Microsoft Office 2007, which will include collaboration features for businesses (as does Office Live, announced last year).” Source: “Techcrunch » Blog Archive » Google Makes Its Move: Office 2.0 – Mozilla Firefox” This is significant, and I believe its time for Banks to re-consider their Office suite strategy.  I noted in July that the plethora of … Continue reading "Techcrunch » Blog Archive » Google Makes Its Move: Office 2.0 – time for Banks to rethink Office Suite strategy?"

Security

"Wells Fargo adopt Bharosa Authenticator for two factor authentication"

Colin Henderson

 From this press release, Wells indicate they are have adopted Bharosa, and this is taken from their site. “Tracker is a comprehensive anti-fraud software solution which works behind the scenes by verifying a host of factors used to confirm identity – from the computer/mobile device used to login, to a user’s location and behavioral profiles. Based on these factors, Tracker scores risk and alerts the organization in real time to potential fraud. Tracker can also trigger numerous follow-up actions, such as challenging the user. As a stand-alone solution, Tracker offers strong, multifactor authentication security that can be implemented without requiring … Continue reading "Wells Fargo adopt Bharosa Authenticator for two factor authentication"

Uncategorized

Japans biometric card rollout is stumbling on change management and lack of standards

Colin Henderson

Japanese FI’s and Post Office (a major bank too) are pressing ahead with biometric ATM’s. SMBC has installed a total of 1,026 compatible ATM’s at about 460 staffed branches and about 1,000 ATM’s at convenience stores. Mizuho plans to put compatible ATM’s into operation at about 450 staffed branches by September. Resona Bank plans to begin introducing biometric identification in October. The Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corp. and Mizuho Bank plan to install ATM’s with biometric recognition functions at all their staffed branches by September. Japan Post, which will also begin introducing the system in October, plans … Continue reading Japans biometric card rollout is stumbling on change management and lack of standards

Innovation

"Canadian Banks – record earnings: runaway Canadian economy – favourable demographics; time to re-engineer! "

Colin Henderson

 This is a tough problem to have.  Lots of cash, and seemingly buoyant customer economics suggesting more profit growth.  “Yet here we are in 2006 and the banks look stronger than ever, — ageing Baby Boomers and a lot of enthusiastic immigrants. “There’s a good steady wind in the sails of the industry,” says Robert Pearce, president and chief executive of personal and commercial clients at Bank of Montreal. That steady wind will only get stronger with favourable demographics, he adds.” Source: “Canadian Banks & Insurance – Mozilla Firefox” The baby boomer wealth transfer has been long predicted for the … Continue reading "Canadian Banks – record earnings: runaway Canadian economy – favourable demographics; time to re-engineer! "

Innovation1 Comment

"ePaymentsnews Blog – Post details: Fees speed humble bank book’s demise. Good riddance"

Colin Henderson

 A significant cost and infrastructure exists at banks to support bank passbooks.  Royal is trying the old fashioned way by charging for it. “By ROB CARRICK for globeandmail.com Royal Bank of Canada is about to start charging a “maintenance fee” of $2 per month for what used to be one of the most basic services a bank provided for its customers. The fee will apply starting July 1 to RBC clients who use a bank book, also called a passbook, and who don’t ante up for one of the bank’s all-inclusive service packages at $4 to $30 a month.” Source: … Continue reading "ePaymentsnews Blog – Post details: Fees speed humble bank book’s demise. Good riddance"

AI

“From “Current Value” to “Potential Value”…Using IT to create a corporate vision — 2006 e-Financial WorldExpo”

Colin Henderson

This introduction to an upcoming conference speech by Art D’Silva at the Royal Bank of Canada, is indicative of why they are both number one in Canada, and why their results have been so strong. “RBC Royal Bank’s emerging business direction and customer strategy was confirmed by a 1997 study that challenged conventional thinking. The study revealed that customers wanted a banking relationship where they were well understood, their needs anticipated, and their business was valued. To RBC Royal Bank, the future became clear: the bank would find ways to be increasingly responsive and client-focused in a competitive environment where … Continue reading “From “Current Value” to “Potential Value”…Using IT to create a corporate vision — 2006 e-Financial WorldExpo”