AI

Do it their way

Colin Henderson

Dealing with Gen Y is at the root of the changes we see and can expect in how Banks must interact with their customers.  Everything that I have been writing here is magnified many times, when you zero in on this generation. RedOrbit – Technology – Banks Give a Shout-Out to Gen Y: Young Adults Have Own Expectations, and Banks Are Rushing to Meet Them “They shop online, they do their research online, they’re on the Internet,” said Lisa Phillips, a senior analyst with eMarketer Inc., a market research firm. “Once they start banking online, they get to feel more … Continue reading Do it their way

AI1 Comment

Bankers have to understand the new web lifestyle to survive

Colin Henderson

I recall in 2002, making a prediction in an internal document, (relevant part replicated here) that the combination of home networks and broadband would alter forever, how we use internet. I have to admit I wasn't clear how, but as a user of both at the time, it was clear to me that the combination is unbeatoable for convenience, and the "always on" benefit transformed internet into a utility, more like running water or telephone. This benefit is in contrast to how most people accessed internet in 2002, which was, turning on the computer, and dial-up access. Today, the computer … Continue reading Bankers have to understand the new web lifestyle to survive

US4 Comments

Is the security guarantee really table stakes for banks?

Colin Henderson

In North America, a security guarantee is table stakes for banks now. Its clear that consumers never lose their concern about online security. Customers become accustomed to the risk, and while those with greater online tenure can better live with the risk, the concern remains. So a point of negative differentiation potentially exists for those banks that do not provide the security guarantee. This would be caused by the move from all the larger institutions to provide, it, so for those that do not, we can expect them to be questioned by their customers. However, before we jump to conclusions, … Continue reading Is the security guarantee really table stakes for banks?

Wireless1 Comment

Web lifestyle implications: Always on, and wait time – August 2002 analysis

Colin Henderson

The following is from a document prepared in 2002. The views on home networking and broadband have come to pass. The other point I noticed in here was the expectation that 3G would hit North America in 2006. That turned out to be premature. August 27th, 2002 External environment Consumer & technology issues to consider, within the context of {text replaced} Banks and their investment online Introduction This section is intended to consider external influences, and provide clarification on those issues which often arise, and which tend to cloud decision making as to status, eg wireless. Wireless In October 2001 … Continue reading Web lifestyle implications: Always on, and wait time – August 2002 analysis

AI

Why Half Of Europe’s Net Users Don’t Bank Online

Colin Henderson

Interesting piece here, that suggests a large percentage of online banking users are defecting from the service for a variety of reasons, from security to lost passwords.  This is something that we have to get a grip on, because the rapid rise of customers using the service is masking the defectors. Forrester Research: Why Half Of Europe’s Net Users Don’t Bank Online Nearly half of Europe’s Net users now bank online.   But the other half — 80 million Net users — have either tried online banking and given up or have never banked online. Banks are losing online banking users … Continue reading Why Half Of Europe’s Net Users Don’t Bank Online

AI3 Comments

MySpace No Longer Their Space?

Colin Henderson

Just when “advanced” thinkers and marketers thought they had it all figured out, it sounds like teens are moving on from MySpace. MySpace No Longer Their Space? – New York Times BRANDS, for teenagers, are fleeting things. For big, slow-moving corporations, this presents a problem. When Rupert Murdoch’s News Corporation acquired the community site MySpace nearly a year ago, the site was at the height of its popularity. But now there are indications that the teenagers who made MySpace cool may be moving on to other things. But there are reasons, and teens aren’t stupid. Popularity with a mainstream audience … Continue reading MySpace No Longer Their Space?

Uncategorized

Forrester RSS Feeds are customiseable

Colin Henderson

Forrester display best practise implementation of RSS feeds, customiseable for your interests. Signing up for Forrester RSS is as easy as 1-2-3! New to RSS? To get started, you must first choose a reader. If you don’t know what a feed reader is, learn more about RSS. Already have a reader? Continue to Step 2 Select the feeds you want from the quick categories, or create custom feeds. Continue reading Forrester RSS Feeds are customiseable

Innovation, US1 Comment

ING is changing US deposit account marketing

Colin Henderson

The garish European influence shows in this simple offer from hsbcdirect.com with a high interest rating savings account, that is opened online. Getting Started The online deposit application should take approximately 10-15 minutes to complete. You can use this application for an individual or joint account. Citi are doing the same through a “direct” offer.  There are others, less well know such as Emigrant. These offers all share similar characteristics: high rate savings opened online advertising has strong use of colour, and as mentioned almost garish, hard on the eyes web design, clearly aimed to compete with the orange ING. … Continue reading ING is changing US deposit account marketing

Payments

Strange press release from Canadian micropayment provider, Dexit, suggests problems

Colin Henderson

This press release suggests some imminent changes at Dexit.  Their model is, in my view, not extendible as architected.  The concept of another merchant terminal is too complicated for merchants and consumers.  The whole aspect of which I covered earlier, of merchant terminals is critical to future payments’ success. CNW Group TORONTO, June 1 /CNW/ – Dexit Inc. (TSX: DXT), the creator and operator of the Dexit(R) electronic payment facilitation service for small transactions, reported in its Management’s Discussion and Analysis for the period ended March 31, 2006 and in earlier public documents that under the Merchant Licence Agreement with … Continue reading Strange press release from Canadian micropayment provider, Dexit, suggests problems

EU, Ranking, US

Wachovia Ranked No. 1 in interbank Satisfaction Score amongst global banks

Colin Henderson

Wachovia continues to achieve success, in this case a survey amongst Bank executives.

Wachovia Ranked No. 1 in Overall Satisfaction Score | Nachrichten |

CHARLOTTE, N.C., May 15 /PRNewswire-FirstCall/ — Wachovia Corp., the fourth largest banking institution in the U.S. based on assets, received the “highest institutional satisfaction score” among banks that offer correspondent banking services. Wachovia’s first place ranking is based on a survey of 500 banking executives in 78 countries by the market research firm FImetrix for its annual “FImetrix Global Report on Bank-to-Bank Services” report.

Wachovia placed second in the 2004 report.

“Being named the bank that provides the best overall satisfaction to clients is a significant achievement and we’re proud. We work hard to support our customers with both innovative product solutions and attentive client care,” said Michael Heavener, the head of Wachovia’s Global Financial Institutions and Trade (GFIT) business.

Wachovia’s Number One ranking is a consolidated score based on the answers to a series of survey questions that looked at product quality, customer service, pricing, commitment to a long-term relationship, extension of credit, the ability to customize products, internet capability, continuity of operations, in-market customer service and risk management assistance.

Continue reading “Wachovia Ranked No. 1 in interbank Satisfaction Score amongst global banks”