Customer Advocacy
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All banks have the same strategy | what happened to the Starbucks strategy?
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… Continue reading
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The Enterprise of the Future in Financial Services | Five traits
Here is another study on the characteristics of financial services required to survive. IBM is always thoughtful and this one is no exception. They entitled the piece as applying to Financial Markets, but I have interpreted this to apply to Financial Services, generally, and not just say money markets. Since they spoke to 1,000 CEO’s… Continue reading
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Banks | Today is the perfect day to start a blog – begin the conversation with your customers
Confidence in financial institutions has been shaken, and the rules for regaining confidence are not clear. Part of the reason that the road ahead is unclear, is because the rules have changed. Its not uncommon for people to suggest that banks don’t ‘get it’, however in fairness to all concerned the new rules are not… Continue reading
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The power of internet, and drivers of change
Internet has flattened old hierarchies, made information freely available, and eliminated distance. This is a revolutionary driver of customer expectations, and customer buying methods. It has also had the impact of opening previously closed kimono’s and exposed old style advertising for what it is … management of peoples opinions. Internet has allowed people to form… Continue reading
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Where are Banks in Community Management?
James has a good post on the shift from traditional PR to Community Management, and he explains that mechanics quite well. His example of Debbie at Wesabe is an ideal one. BankerVision: PR shifts to Community Management One final question is in my mind, though, is what use HSBC’s or Citi’s Community Outreach Coordinator will… Continue reading
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How can your Bank help with the other 95% of a customers mindshare relative to their money
After the previous post, thought I’d check out Andera, the service provider for those online account openings. The graphic below from their site is the classic view to which all Banks with an integrated multi channel strategy aspire … ie almost every Bank. Andera Corporate Web Site The Andera platform offers financial institutions an end-to-end… Continue reading
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Banks | time to be afraid
Mint has officially joined my list of top disruptive services in financial services. Till now, I only had one. These statistics below from TechCrunch suggest staggering and unique opportunities, data sharing potential, and the opportunity for shared user generated advice. The other disruptive service for similar reasons, is Wesabe. Mint Adds Support For Mortgage And… Continue reading
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Financial Services in 2010 – Deloitte | Review and analysis
Thought provoking and well prepared new report from the prolific team at Deloitte. Following is a brief summary and analysis of the report, then my take on the conclusions. [hint: no-where in this report does the word internet or social media appear – is that right or wrong?] Financial Services in 2010 – Deloitte Touche… Continue reading
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How not to be customer focussed | Microsoft example
What strikes me about this email initiated by Bill Gates over 5 years ago is not a techie issue. The important email is not Gates words … its the two emails right after that begin a thread that is classic internally focussed, and just wrong. If you see your Bank here, then start cringing. Look… Continue reading
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Egg customer anger at credit card cancellations
Egg (CitiBank) credit card does a very poor job at cancelling 161K cards. They provide the reason that peoples credit history has deteriorated, which sounds legitimate but from the litany of quotes on this BBC page, it sounds more like they cancelled people because they were paying off their balance in full, thus making them… Continue reading
Colin Henderson
- Bank economics, ecosystem, risks
- Emerging technologies
- Digital
- Payments
- Cybersecurity
- Specialist in business & technology requirements
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