From the monthly archives:

March 2009

Zong’s Office in Palo Alto – Mobile Payments “In the Wild!”

by Scott Loftesness on March 30, 2009

in Mobile Banking & Payments, Scott Loftesness, Zong

I recently was driving down Hamilton St. in Palo Alto when out of the corner of my eye I spotted Zong’s new office. This was the first time I’d ever seen a storefront office with “Mobile Payments” on it – made me smile!!
Zong is doing interesting things enabling mobile consumers around the world to [...]

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Mobile Banking and Customer Satisfaction

by Scott Loftesness on March 30, 2009

in Bank of America, Banking, Mobile Banking & Payments, Scott Loftesness

Advertising Age picked Bank of America’s mobile banking efforts as one of the leaders in its Digital A-List 2009.
Rita Chang writes:

Underlying all of the marketer’s moves into mobile services and marketing is a key insight: Give people more control over their banking on their own terms, and you’ll win their loyalty.
How about you? Are [...]

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The Dark(er) Side of Innovation

by Scott Loftesness on March 27, 2009

in Card Fraud, Innovation, Scott Loftesness

While we naturally tend to focus on all of the innovative things that have happened in payments over the years – brought to us by upstanding companies and institutions – there’s also a dark side to innovation that sometimes is the elephant in the room.
I’m talking about the innovations that fraudsters continually cook up to [...]

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Be Where Your Customers Are!

by Scott Loftesness on March 26, 2009

in Scott Loftesness, Twitter, Web 2.0 in Financial Services, Wells Fargo

In his email to me earlier today telling me about Wells Fargo’s new presence on Twitter, Social Media Marketing VP Ed Terpening used a phrase that really caught my eye and captured the essence of what Wells Fargo is doing far beyond simple online banking:

It’s important that we be where our customers are, and that [...]

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Innovation in Business Models

by Scott Loftesness on March 26, 2009

in Banking Industry, Innovation, Scott Loftesness

We often think of innovation as being primarily technology-driven – but there are some great examples of innovations in banking that were simply business model or process changes involving little, if any, new technology.
Two examples that have proven very valuable financially to US banks in recent years involve simply the handling of transactions being posted [...]

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Mark Your Calendar: BarCampBankSF2 is April 25-26

by Erin McCune on March 25, 2009

in Banking, Conferences & Meetings, San Francisco, Strategy

Last year I attended the original BarCampBank San Francisco and had a fantastic time (I blogged about the experience here.) It is an unstructured, participant-organized, conference on banking/payments/financial services innovation.
BarCampBank events have been held in cities around the world and are refreshingly open and informal. If your budget is tight, your company is limiting [...]

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Glenbrook Web 2.0 Survey Results

by Erin McCune on March 24, 2009

in Blogging, Glenbrook, Research Round Up, Social Media, Twitter, Web 2.0 in Financial Services

We’ve tabulated the results of last week’s Web 2.0 survey – if you haven’t taken it, don’t worry you still can; we re-opened the survey and the link is here. (We’ll update our results in another week or so, once a sizeable number of new responses are in.)
Summary
The Glenbrook community embraces Web 2.0. You are [...]

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iPhone 3.0 – Payments in Perspective

by Russ Jones on March 24, 2009

in Mobile Banking & Payments, Mobile Technology, Russ Jones, Subscription Management, iPhone

Apple created a lot of buzz in the industry last week when it previewed the new capabilities of iPhone OS 3.0. Leading the list of new features, surprisingly, was a payments-related enhancement called “In App Purchase”.
I missed the briefing, but saw this new capability reported in the blogosphere as “subscriptions”, “micro-billing”, and a [...]

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Speaking of Innovation…

by Scott Loftesness on March 24, 2009

in Innovation, Scott Loftesness

Some upcoming events of note for those interested in better understanding the process of innovation:

The Cards and Payments Australasia Conference being held in Sydney, Australia this week includes a full day (Thursday) devoted to Innovation in Payments. Topics to be covered focus on both the issues of payments innovation in Australia along with the [...]

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Social Media in Financial Services

by Scott Loftesness on March 23, 2009

in Innovation, Scott Loftesness, Social Media, Web 2.0 in Financial Services

Following up on our social media workshop last Thursday, we’ve just started a new group focusing on Social Media in Financial Services over on LinkedIn.
If you’re interested in exploring how social media is affecting consumer financial services, you might want to also tune in there.

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How Tolerance for Risk Can Really Affect Outcomes

by Scott Loftesness on March 22, 2009

in BillPoint, Ecommerce Payments, Innovation, PayPal, Scott Loftesness, eBay

Recently, I’ve been studying innovation in payments – trying to identify the factors that influence market success (rare) vs. market failures (much more common). Certainly, the story of PayPal (as the most successful payments innovation in a long time) is at the center of my analysis.
On his Redeye VC blog, First Round Capital’s Josh [...]

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Google Checkout Adds Subscriptions

by Russ Jones on March 20, 2009

in Ecommerce Payments, Google Checkout, Russ Jones, Subscription Management

Google Checkout has just moved a “subscription” capability into beta. This is welcome news to many online sellers, as the ability to charge buyers on a regular basis, without the buyers’ active involvement has been missing from Google Checkout since its inception.
The new capability, as described by Google, appears to be somewhat advanced, with two [...]

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Social Media Meets Financial Services

by Scott Loftesness on March 19, 2009

in Customer Relationship Management, Mashups, Scott Loftesness, Social Media, Twitter, Web 2.0 in Financial Services

Erin McCune and I had a lot of fun today teaching our Workshop on Social Media (aka Web 2.0) and Financial Services. As seems to happen more and more these days, an informed and interested group adds their experiences into the mix and the combined information shared and mutual learning that results is much [...]

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Oh, You Make Me Want to Shout!

by Bryan Derman on March 16, 2009

in Bryan Derman, Caught My Eye, Credit Crisis, Current Events

I‘ve been trying to enjoy the little culture skirmish that surfaced last week as media watchdog Jon Stewart of the Comedy Central took comedian Jim Cramer of CNBC to task for failing to warn the public that the valuation of  houses, equities, municipal bonds, commodities, and every other financial asset in the global economy had [...]

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Please Take Our Web 2.0 Survey

by Erin McCune on March 14, 2009

in Glenbrook, Web 2.0 in Financial Services

My partner Scott Loftesness and I are teaching  a workshop on Web 2.0 and Financial Services this coming Thursday, March 19th.
In preparation, we’d like to gauge the level of Web 2.0 participation in the Glenbrook community. There are only two questions and it won’t take more than 2 minutes of your time (if that).
Click here [...]

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