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Futuristic Banking

Archive for: August, 2007

Colin Henderson - Bankwatch Consulting - Canada | 31/08/2007 | 6993 views

'Build your own Bank' to become customer centric?

Over at NetBanker, Ron's wrote about the notion of PFM (Personal Financial Manager, eg Quicken) and that will not be the solution to bringing the last holdouts into online banking. In particular, he spoke of the older generation boomers, and others who if they have not adopted such tools, are unlikely to do so now. In any event, the post prom Tags: Online banking, Payments

Paul Penrose - Finextra - London | 30/08/2007 | 3467 views | 1 comment

Bandwidth as an Internet currency

Computer scientists at Harvard's School of Engineering and Applied Sciences, in collaboration with colleagues from the Netherlands, are using a novel peer-to-peer video sharing application to explore a model for electronic commerce that uses Internet bandwidth as a global currency. The researchers envision an e-commerce model that connects user... Tags: Payments, Retail banking

Paul Penrose - Finextra - London | 20/08/2007 | 3059 views

Shoulder surfers get the brush off with EyePassword

UK payments body Apacs published a PIN security advice guide for consumers late last week reminding cardholders of the continued threat from counterfeiters and shoulder surfers. Despite the introduction of Chip and PIN technology in the UK, card skimming and the subsequent use of cloned cards in overseas networks remains a lucrative business for th... Tags: Security, Retail banking

Steve Ellis - Metia - London | 10/08/2007 | 3668 views

World Stock Exchange hacked, run on deposits, bank closes

It must be purgatory working at Linden Labs. Citizens of Second Life seem hell bent on replicating every problem of the real world.Setting aside the sex pests and the terrorists, no sooner had the authorities at Linden Labs banned gambling than its uber governors have had to deal with a meltdown in the Second Life financial system.It emerged last w...

Paul Penrose - Finextra - London | 10/08/2007 | 3099 views

The virtual world of voodoo economics

From the Sydney Morning Herald: 'The biggest bank in the virtual world of Second Life has closed its doors after a run on its deposits, putting at risk hundred of thousands of real dollars of savings and investments.'The 'bank' in question, Ginko Financial, yesterday stopped accepting deposits, froze all withdrawals and converted ac... Tags: Retail banking, Wholesale banking