Tag: wesabe

Profitability4 Comments

The Dangers of Thin Value

Colin Henderson

Umaiar defines thin value as a mirage that will eventually evaporate. it is value that has no point nor reason, other than generate revenue for the corporation. The landmark example he offers is ARPU, or Average Rrevenue per Customer in the telco business. The 15 second instructional wait time in front of every voice mail is worth $620 million to one telco is one example he offers. The sole purpose of the 15 seconds is to generate revenue, notwithstanding claims that it is for the benefit of the user. The Value Every Business Needs to Create Now| Harvard: Umair Haque … Continue reading The Dangers of Thin Value

Innovation3 Comments

Wesabe today announce that Palo Alto-based Addison Avenue Federal Credit Union is to integrate Springboard Community App

Colin Henderson

Wesabe are making progress with their Springboard product that I blogged about in March. For the details here is that post. They are announcing today that they have signed Palo Alto-based Addison Avenue Federal Credit Union. That is a big one, given the internet savviness of their customers reflected in the fact only 30% ever visit the branch. The groundbeaker for me with this service, is the integration of a web app with an individuals online banking. This brings the outputs of the wealth of a social site into the personal world of online banking allowing the customer to investigate … Continue reading Wesabe today announce that Palo Alto-based Addison Avenue Federal Credit Union is to integrate Springboard Community App

Innovation

Where will the innovation come from in financial services?

Colin Henderson

A central question for financial services is this:  “Where will the innovation come from in financial services?” I read this piece from Dave over at Digital Money Forum, and it highlights a central problem that traditional financial services falls into. The 50 year plan : Digital Money forum That sounds like the Greek restaurant will have to give a British cardholder a couple of pages of A4 and make sure that the customers reads them before they punch in their PIN. Anyway, the point is that for banks, the PSD comes at an interesting time when transaction banking is becoming … Continue reading Where will the innovation come from in financial services?

Innovation

Wesabe introduces a redesigned site with enhanced features

Colin Henderson

Wesabe have introduced a redesigned site.  It appears to be more than a surface change with nice use of interactive ‘hover’ features with personalised information inside the hover.  The menu is simplified, yet takes you to everything required, including ‘Connections’ that includes iphone and twitter connections. Its clean, bright, and worth checking out. wesabe Wesabe Site Redesign If you haven’t logged in to Wesabe lately, you’re in for quite a surprise. We’ve redesigned every single page of the site and have been getting some rave reviews about our new look! Continue reading Wesabe introduces a redesigned site with enhanced features

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