Tag: Tempo

Innovation, Open Finance, Open Source Banking3 Comments

All banks have the same strategy | what happened to the Starbucks strategy?

Colin Henderson

It was refreshing to read this piece, and takes us exactly where innovation in financial services ought to be going – the new (old) grand ideas. Starbucks should start banking | FT What if Starbucks opened an online-only retail bank offering competitive deposit rates and a modest range of loans and mortgages? It could do that by partnering with a finance company such as ING, which has the appropriate banking licences. All it would need to do is install ATM machines in its outlets, which would involve investing some money but would allow it to get more out of its … Continue reading All banks have the same strategy | what happened to the Starbucks strategy?

Business Models

What does recovery mean for Banks?

Colin Henderson

Banks are at the centre of the economy.  Business and consumers conduct their day to day business using money and they do this through banks.  Stating the obvious you may say?  This is why I study the economy so closely and try to understand how it will look in the future, because that has a direct relation to how banks will look in that future. We are in a crisis of debt.  It is a debt crisis because consumers and businesses are over-leveraged.  Their debt is too high relative to todays asset values.  Asset values have decreased by 25 – … Continue reading What does recovery mean for Banks?

Uncategorized3 Comments

FinovateStartup – 1

Colin Henderson

Caught  a few of the participants this morning and as we wait for the next few rapid fire presentations, some highlights.  Note there are 350 in the audience: Lending Club: highlighted some lender functionality, paricularly in the secondary market showed the ability of lenders to compare their returns to other lenders Tempo Debit Card; decoupled debit card sign up online, with 90% approval success offers rewards on your debit card aim to to be the MBNA of debit cards Wesabe: always my favourite – Gabe showed off the new web interface highlighted accounts, and discussions ability to dig deeper aggregate … Continue reading FinovateStartup – 1

Uncategorized2 Comments

Tempo – decoupled debit card

Colin Henderson

I came across Tempo on Netbanker – they will be presenting at the upcoming Finovate.  Tempo are focussed on a space I have high hopes for – general disaggregation of banking services.  In the case of Tempo they are in the de-coupled debit card market, something Capital One dabbled in 18 months ago. Not much detail, but their value proposition is one of customer loyalty points attached to the card.  While that is the obvious play, I remain convinced the power in this model will extend further.  I say this because loyalty points have a limited appeal to a certain … Continue reading Tempo – decoupled debit card