47 Results from 2011
Brett King CEO & Founder at Moven
There has been a 25% decline in the total mail volume for the USPS (United States Postal Service) from 2006-2011, resulting in a $5.1 Billion loss in 2011 alone. Since 2007 the USPS has been unable to cover its annual budget, 80 percent of which goes to salaries and benefits. In contrast, 43 percent of FedEx's (FDX) budget and 61 percent of United...
22 December 2011 /regulation /retail Innovation in Financial Services
No one could doubt that peer-to-peer lending (or P2P Lending) has landed big time in 2010, but it looks as if the best is just about to come. The biggest US P2P lender, Lending Club, will issue more than $250 million in loans this year – greater than the last four years combined – for a total of nearly $450 million since inception. Their last $10...
14 December 2011 /retail Finance 2.0
We're experiencing a massive shift in consumer behavior right now with the explosion of Facebook, Twitter, YouTube, and other community collaboration and social media platforms. A world where Facebook has 800 million inhabitants and a President who is a college dropout (albeit Harvard). We're seeing the global domination of mobile across the entir...
07 December 2011 /security Innovation in Financial Services
Bankers often talk about the 'trust' consumers have in banking as a defining characteristic of why customers give banks their money instead of simply keeping it under a mattress. Some bankers might have difficulty understanding why customers of today seem perfectly happy to give money to the likes of PayPal, M-PESA, Lending Club or Zopa. The fact ...
23 November 2011 /regulation /retail Innovation in Financial Services
Without thinking consciously about it, over time core behaviors change producing different instinctive reactions. When a phone rings today, we go to our pocket or purse, not running to a device on a desk or on the wall. When we are interacting with a mobile phone that is not our own or an ATM machine, we'll instinctively touch the screen to naviga...
18 November 2011 /retail Innovation in Financial Services
There's generally a very poor understanding of the dynamics of the role of the website in retail financial services interactions today. There is an acceptance that 'some' customers use the web, when deciding on a new financial services relationship, but not of the critical nature of the web in that choice. Let me explain how things are different f...
09 November 2011 Online Banking
Recently I've been discussing with bankers, economists, strategists and futurists the future of the banking industry. At a time when we've got the likes of the"Occupation of Wall St" (#OWS) through to discussions in various camps about the very survival of banking as we know it, a question you might ask is how did we get here so quickly?...
19 October 2011 /retail Innovation in Financial Services
Steve Jobs, Apple co-founder and former CEO, has died at the age of 56. Apple has posted this statement on its website: Apple has lost a visionary and creative genius, and the world has lost an amazing human being. Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor. Steve leaves be...
06 October 2011 Innovation in Financial Services
Last year I commented at SIBOS that there was finally the realization that things weren't returning to normal - a new normal was emerging. This was a common theme emerging from the myriad of discussions and debates over how the industry would emerge from the wreckage of the Global Financial Crisis. In their typical prophetical style, the Innotribe ...
09 September 2011 /payments /retail Innovation in Financial Services
The announcement that the Canadian carrier Rogers Telecom has applied for a banking license should hardly come as a shock to the retail banking fraternity. There is already a plethera of mobile carriers fully engaged in mobile payments right now, from Safaricom in Kenya, Orange (with Barclays) in the UK, the ISIS collaboration in the US, LG Telec...
08 September 2011 /payments Innovation in Financial Services
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