23 November 2017

Devil's Advocate

Roger Elwell - Yes Please

83Posts 303,824Views 39Comments
Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.
A post relating to this item from Finextra:

Linux Foundation launches branded credit card

29 July 2009  |  5956 views  |  0
Linux_mascot.gif
The Linux Foundation is set to launch a Visa credit card featuring its Tux mascot for people who want to contribute to the operating system's development.

Great Idea, Shame About the Marketing

03 August 2009  |  4029 views  |  0

This is an interesting proposition.  “Sign up for our Linux card and help a cherished organisation.  However, apart for an initial $50 bung, we won’t tell you how much more you will be contributing.  Just spend like mad, safe in the knowledge that part of your spend will also be contributed.”

How much, then?  1%, 2%?  Or will it be something like 0.00000001%?  Why be so coy?  Is it because the percentage is big or vanishingly small?

How can this offer be right?  Who would sign up for such a deal?  Why aren’t they being open about the percentage?

I though we were moving towards more transparency in financial services.  Maybe this is the definition of ‘transparency’ in the US of A, but hopefully it won’t wash here in the UK.

I guess quite a few people would like to contribute like this to an organisation like the Linux Foundation, but I bet quite a few will be put off by the lack of transparency.  After all, who these days likes to be taken for a fool?

 

 

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job title Consultant
location Colchester
member since 2008
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Consulting to the financial services industry with a specific expertise in the cards business - issuing and acquiring.

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