Innovation, Payments, Smart Cards

Consumers like convenience of contactless m-payments, study shows

Colin Henderson

This is an important study for Banks and credit card companies. Payments using contactless cards are merely held over the payment device, versus the traditional method of "dipping" the card into the device, similar to an ATM. Finextra: Consumers like convenience of contactless m-payments, study shows Consumers like the convenience and ease of making transactions with their mobile phones, according to a new usability study of near field communication (NFC) and contactless payment technology released by Royal Philips Electronics and Visa International. The conventional view has been that cards would transition from mag stripe plastic into chip plastic, then evolve … Continue reading Consumers like convenience of contactless m-payments, study shows

AI2 Comments

How “not” to use internet for marketing

Colin Henderson

Chevrolet have had an interesting baptism of fire in trying something new online. Someone, somewhere in Cherolet Marketing department, decided a campaign that involved Tahoe drivers in creating their own commercial would be a good idea. The creative brief probably spoke of "building commiunity", and "engaging users" etc etc. The campaign, is here and the results are here. The way it works, is that the apprentice is asked to add some pre-packaged Tahoe pictures, and pre-selected music, and they stuff it together into a commercial. After you are done, I have no idea where the commercial goes, because it took … Continue reading How “not” to use internet for marketing

Middle East

Islamic banking – a new growth market?

Colin Henderson

Two new funds in the UK promoting something that is already big bsuinesss in the middle east, but this is in the UK. Given the growing muslim population within UK, France, Belgium this could be a new growth sector. Sharia safe investing – PSD Blog – The World Bank Group – Private Sector Development Two new funds in the UK hope to have found an answer by offering capital funding that complies with Islamic sharia law. As reported in the latest issue of Clear Profit  (pdf) Continue reading Islamic banking – a new growth market?

Security

Latest phishing scam JP Morgan Chase

Colin Henderson

 I only mention this particular phishing incident,because of the sheer volume.  They are all correctly going into my gmail spam folder, but good grief there have been a lot of them over the last two weeks.

Despite my earlier posts about spam getting smarter, this one is unusual because its a pure brute force attack, hoping that volume will attract some success.

Here is the email – all links deleted for your reading safety.

 ____________________________________

Continue reading “Latest phishing scam JP Morgan Chase”

Security

Deutsche Postbank introduces electronic signatures

Colin Henderson

This seems an extraordinary attempt at a solution to phishing, from Germany. Customers must click a symbol in an email to validate that the email is genuine. This makes no sense, because if the email is not genuine, then by the time the click is made, it is too late. Finextra: Deutsche Postbank introduces electronic signatures The digital certificate is issued by TC Trust, the German subsidiary of GeoTrust. By clicking on the symbol in the e-mail, customers can see whether the e-signature is valid. If something is incorrect in the signature, a warning message appears on screen Relevance to … Continue reading Deutsche Postbank introduces electronic signatures

Uncategorized

Microsoft teams with TietoEnator – SEPA compliant systems

Colin Henderson

With the 2008 deadline approaching rapidly, expect to see more such announcements in preparation for Single European Payments Area (SEPA). Finextra: Microsoft teams with TietoEnator, Nordic banks for corporate-to-bank connectivity Microsoft is joining forces with TietoEnator and Nordic banks Sampo, Nordea and OP Bank to develop and launch a Sepa-compliant automated corporate-to-bank connectivity service for transactions and payments. Continue reading Microsoft teams with TietoEnator – SEPA compliant systems

AI

The promise of assisted self service

Colin Henderson

This paper from Selfserviceworld.com, is intriguing and captures the general trend we can all see, for ATM type machines showing up everywhere within otherwise traditional shops and stores. TheFivePromisesofSelf-Service.pdf There is a new generation of ATM like machines that are available to Banks. These machines will perform additional functions, and are only limited by the Banks' imagination and technology constraints. These ATM's can provide "assisted self service". Customers can perform the bulk of the transaction, (commercial deposit, wire transfer, purchase a draft) at the ATM, and complete with the CSR. This provides greater efficiency to the CSR team, and speed … Continue reading The promise of assisted self service

Payments

The Convenience of an A.T.M., but So Much More – New York Times

Colin Henderson

 7-Eleven are expaning their offerring into the realm of banking payments.  The backer to Info Touch mentioned here at the New York Times, is Hewlett Packard. The Convenience of an A.T.M., but So Much More – New York Times "The convenience retailers want to become a bank for the unbanked," said Hamed Shahbazi, chief executive of Info Touch Technologies, a company in Burnaby, British Columbia, that supplies hardware and software for the Exxon Mobil, Circle K and Sunoco programs and others. "They're getting all this pressure from the Wal-Mart's of the world, and they're trying to respond." The benefits of … Continue reading The Convenience of an A.T.M., but So Much More – New York Times

Security

Identity theft is significant enough that Banks must address it

Colin Henderson

This statistic is surprisingly high – 2004, 3% of US households hit by identitiy theft. Identity theft hit 3.6 million in U.S. | InfoWorld | News | 2006-03-31 | By Robert McMillan, IDG News Service About 3 percent of all households in the U.S., totaling an estimated 3.6 million families, were hit by some sort of ID theft during the first six months of 2004, according to DOJ data set to be released Sunday. Relevance to Bankwatch: As the most significant aggregator of customers’ information, banks must (continue) to take this issue seriously, and make efforts to support their customers.  For … Continue reading Identity theft is significant enough that Banks must address it

AI

Online Banking is one of the top internet activities

Colin Henderson

Courtesy of the USC Center for the Digital Future. Here are the results of their survey of top activities for internet users. I am impressed we made the list, let alone made #7. Got this from Mark Evans, after he saw Jeffrey Cole speak today. Wish I had caught that actually. Hope to meet Mark at MESH. He is doing a good job at promoting the new web lifestyle. The top 10 for 2005 are: e-mail general Web surfing reading news shopping entertainment news (searching and reading) seeking information about hobbies online banking medical information (searching and reading) instant messaging … Continue reading Online Banking is one of the top internet activities