Movenbank Announces Completion of US$2.41m Seed Round Funding
Movenbank Previews CRED ‘credibility’ score at www.whatiscred.com NEW YORK, USA (10th August 2012) – Brett King, CEO and Founder of Movenbank, and American Banker’s Bank Technology News “Financial...
View ArticleWhy Apple’s NFC snub might hurt the banks and networks more than ever?
I’ve always maintained that Near Field Communication (NFC) was attractive for both the banks acting as acquirers and issuers, and ultimately the networks themselves. Particularly in the US marketplace....
View ArticleGen-M: the abandonment of “touch and feel” and the emergence of “see and hear”
Baby Boomers and Gen-X have in common the need to experience life in all it’s glory. Whether that is born out of a sense of adventure, the need for tactile feedback or in the sense of face-to-face...
View ArticleBanks can’t compete with digital for advice
There’s a long held premise that branches are great channels for advice, that this is the one differentiation that bank branches provide that the Internets could never compete with. There are three...
View ArticleMillions of consumers soon won’t need a bank account
Traditionally, if you wanted to move money around, save cash, pay a bill, purchase something at a store, or otherwise have some sort of systemic access to your cash as you moved around – you needed a...
View ArticleTwo big predictions
Ron Shevlin (@rshevlin) and Jim Bruene (@netbanker) and I have been back and forth Ron’s article today on so-called NeoChecking Account and the news of the GoBank (http://www.gobank.com) launch here in...
View ArticleSocial Media (SoMe) – What comes next is even more disruptive
Last year Facebook hit 1 Billion users. It is reported that the average Facebook user spends 75 minutes per day using Facebook. Mobile use has also increased significantly over the last two years....
View ArticleThe death of branches probably started in 2010
There’s a strong statistical argument to be made for disruptive technologies that change consumer behavior. I’ve argued the impact of this on branch banking extensively starting with Branch Today, Gone...
View ArticlePTP FTW! The beginnings of something much greater…
I had a call with an industry colleague earlier today talking the recent news on GMail Google Wallet integration, Dwolla’s funding round and the “Square Cash” announcement. At large I’m seeing two...
View ArticleBranches have a strong future as alternative channels
Back in 2008 I started talking about the BANK 2.0 concept and the consumer behavior shift that would result in the bulk of customers in developed economies abandoning branches over the coming decade....
View ArticleBuild your audience, not brand recall
Revenue is the driver of business, and most businesses for the longest time have been accustomed to building a pipeline of business, targeting specific demographics or segments of customers, or raising...
View ArticleWhy Google, Apple and Facebook don’t want to be banks…
Recent research has shown that banks spend more on IT than any other industry sector (See Deutsche Bank Research – IT in banks: What does it cost?). In fact, on average banks expend 7.3% of their...
View ArticleSome Amazing Insights
If you haven’t been listening to Breaking Banks (VoiceAmerica/World Talk Radio) the last couple of months and you’re in the financial services space, well you are missing out on some great dialogue....
View ArticleThe US is becoming the world’s largest closed-loop payments system
Last year the US contributed close to 20% of the world’s GDP despite coming off the back of the biggest economic downturn since the 1930′s Great Depression. The US, UK, Germany, Russian and CIS States,...
View ArticleWhen Payments Disappear, and Value Emerges
Ok, so if you think we’re done with the whole “when is a mobile payment a payment” argument, think again. The reality is that the biggest evolution in payments is not about Visa, Mastercard, Amex,...
View Article$10,000 in Cash for my best followers
Ok guys, so it’s time for me to give back to all you who have followed @getMoven’s progress and my own #Bank3.0 story. I’m giving away hard cash to say thanks, and to ask you guys for some help on the...
View ArticleIn 5 Years, 50% of revenue will be digital
Where’s the revenue going to come from? Mobile use is exploding in the banking scene. If you are a retail bank today in the developed world and you don’t have an app for your customers, you are...
View ArticleWhy smartphones will kill credit card rewards
Credit cards are expensive. According to BankRate.com the average US annual percentage rate (APR) charges on credit cards is 15.35%[1], but that’s down in recent years. During the financial crisis some...
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Branches will never result in 100% Financial Inclusion
I was in India a few weeks ago speaking to the Reserve Bank and most of the primary Retail Banks about the impact of mobile and social media on the industry there. The new RBI Governor in India,...
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Why Kids Don’t Sign, and Why Banks Should Kill Off Signature Cards
In a recent UN/ICAO commissioned survey on the use of signatures in passports, a number of countries including the UK recommended phasing out the long held practice because it was no longer deemed of...
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