Technorati – disregard
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"BankerVision: The reaction of bankers « Bankwatch"
James comments to the earlier post on P2P lending raises some interesting points. Also, banks have trust and security assets, branding and otherwise, which could go some of the way to addressing the 30% of loans unfunded problem. … And certainly the larger banks aren’t competing all that hard for deposits anymore, especially when wholesale money can be had more cheaply. Source: “BankerVision: The reaction of bankers « Bankwatch – Mozilla Firefox” The competition for deposits continues. HSBCdirect, BofA, and ING are all in a deposit battle, that brings both deposits, and new customers. Having said that, the best deposits … Continue reading "BankerVision: The reaction of bankers « Bankwatch"
Alerts 2.0: Interactive Financial Messages
The premise is that alerts will blossom into Interactive Financial Messages (IFM’s), and those will replace todays online banking sites. IFMs Will Replace Todays “Costco-Size” Financial Web Sites … Javelin views the term alerts as insufficient to describe these futuristic exchanges, and we now call them IFMs, or Interactive Financial Message Online banking is the Costco approach … presumably referring to bulk impersonal buying. Web sites will continue to grow as the place people get “Costco” size access to their finances, such as viewing and paying bills or manage the needs of multiple financial accounts.” Where the premise is off … Continue reading Alerts 2.0: Interactive Financial Messages
"Finextra: research – Interchange: where theory and practice collide"
Good background on the mechanics of Interchange. “The document examines the differential market impact of interchange fees in Australia, the UK and US. The results suggest that a theory applicable in one country may not be applicable in another and that similar interchange fee arrangements and regulations may well have different implications in different countries.” Source: “Finextra: research – Interchange: where theory and practice collide – Mozilla Firefox” tags: interchange Continue reading "Finextra: research – Interchange: where theory and practice collide"
"Putting people back"
Came across this article from June this year, talking about the extreme shifts we have seen away from the branch in the late 90’s, and back to the branch in this decade. “The real lesson for the banks has been that customers value human interaction when making financial decisions that could have important consequences in their lives. Of all the additional channels, the call centre is the only one that can provide this human touch. “ Source: “Putting people back – Mozilla Firefox” I would argue the shift to Internet and branchless was right, just 30 years early. But there … Continue reading "Putting people back"
BankerVision: The reaction of bankers
James is worried about the right things here. “For the first time ever, I argued, the special economic role of banks as the primary intermediaries between actors in markets is being challenged. Previously disruptive innovations in banking, (for example, Internet Banking) didn’t actually interfere with the special role that banks have in society. Non bank payment systems and P2P lending? These go right to the core of what banks have traditionally done. My point was that the business model of banking itself is now being touched by parties that aren’t banks.” Source: “BankerVision: The reaction of bankers – Mozilla Firefox” … Continue reading BankerVision: The reaction of bankers
"BBC NEWS | Business | Merger creates Italian bank giant"
Italian banking gets a shakeup. Foreign shareholders, including French bank Credit Agricole and Spain’s Santander, are key to the success of the deal. “Two of Italy’s biggest banks are to merge, forming an industry giant with a market value of 55bn euros (£37bn). The merger of Banca Intesa and rival Sanpaolo IMI will create Europe’s 10th largest bank.” Source: “BBC NEWS | Business | Merger creates Italian bank giant – Mozilla Firefox” And others may be to follow: Other Italian banks are also believed to be attempting to form new merged identities. tags: Italian+banks, European+banks Continue reading "BBC NEWS | Business | Merger creates Italian bank giant"
Online Banking: Moving Toward a New Paradigm
Aite Group issue a new report that assesses the business and technology strategy amongst 21 large US banks. So this will I presume include, Wells, Citi, Wachovia, Chase etc. “Online Banking: Moving Toward a New Paradigm Aite Group forecasts that by 2010, 13% of checking accounts will be opened online in the United States, up from 3% in 2006. Aite Group recommends the leading online banking channel vendors should progress beyond software applications and offer value-added services, such as online marketing outsourcing, to remain competitive.” Source: “Aite Group, LLC Report #200608281 – Mozilla Firefox” The report details the banks’ interest … Continue reading Online Banking: Moving Toward a New Paradigm
Bank of America | Test Drive Online Banking Offer
Straight and simple is the only way to describe this offer from Bank of America. Register for online banking, and they’ll pay you $15. “With Online Banking from Bank of America, you’ll enjoy the convenience, control and security to manage your finances online. And now for a limited time only, when you enroll by clicking below, you’ll get $15. With our free Online Banking service, you can quickly and easily: Check recent account activity bullet Transfer funds between your Bank of America accounts Receive and pay bills online View and receive your account statement online Enroll in Online Banking today … Continue reading Bank of America | Test Drive Online Banking Offer
CIBC Today" – CIBC Intranet Portal
Reading this press release really made me think about the expression “paving the cowpath. How on earth would they need 90,000 unique URL’s at CIBC? This is totally symptomatic of bank thinking. No startup/ web 2.0 company would think this way. But I understand the thinking only too well. “here we have all these intranet sites, and information pieces, which we must document and support, because they are there”. If we do the math, and consider how long any one employee would take to get through even 1% of that lot, we will all have grey hairs. Source: Bryce Johnson … Continue reading CIBC Today" – CIBC Intranet Portal
