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At an event in Indianapolis two weeks ago a banker in the audience ardently challenged me over the transparency of social networks and the subsequent risk of identity theft. There are a lot of identit...
There's been a great deal of discussion lately about the impact of technology on traditional businesses such as bookstores, media, TV, newspapers and even on banking. We think we understand the impact...
The Total Disruption of Retail Banking - The Conclusion As we detach ourselves from physical artifacts associated with traditional businesses, traditional distribution models rapidly fail. The fact th...
The US is enamored with outdated and costly modality that is costing Billions in lost revenue and fraud. While many argue the business case for moving to technology like EMV or NFC is hard to justify,...
Part 5 - The Total Disruption of Retail Banking In September of 2009 Ann Minch, a customer of Bank of America, posted a video on YouTube called the “Debtor’s Revolt”. Ann detailed her case against Bof...
The Widening Gap between Behavior and Capability In 1980 the average bank in the developed world would receive a visit from a customer once or twice a month, making an average of 20-25 times a year. A...
Massive spend on innovation at the front-end of retail financial services Putting aside conjecture of whether or not we are in a bubble at the moment around tech, social media, and mobile services (w...
Rapid Acceleration of Technology Adoption makes change easier The rate of diffusion is the speed at which a new idea spreads from one consumer to the next. Adoption is similar to diffusion except that...
There’s a philosophy I characterize as “Lucky to be a customer” within banking today. A customer comes to the bank, we make him jump through hoops we often call risk assessment, customer profiling or ...
Today I’ve been in Beetsterzwaag, Opsterland, Netherlands, about 150 kilometers from Amsterdam at an offsite strategic retreat with the ICS (International Card Services) team. Initially part of Bank o...
The announcement today of Visa’s acquisition of Fundamo signals the drawing of the battle lines in the face off between Mastercard and Visa in the mobile payments stakes. While I understand that a wa...
Last week Google announced their long awaited NFC-trial for mobile payments. On the face of it, many perceive that Google’s play is an attempt to cannibalize the lucrative payments market, but if that...