Web 2.0 in Financial Services

“Pay with a Tweet – A social payment system.” These aren’t my words. Instead, it is the name of a new payment concept developed by an interactive advertising agency called Innovative Thunder. Given the work we’ve been doing on social payments here at Glenbrook, we had to investigate this one. Here’s how it works. A […]

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Editors note: Our colleague Carol Coye Benson recently experienced first hand the power of social payments and shares her experience in this post. To learn read more of Glenbrook’s thinking on social payments check out this post by Russ Jones. I had a great online experience yesterday – the kind of thing that makes you […]

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I’m here in Seattle today at NACHA’s Payments 2010 conference along with Russ and Erin.  I’m mulling over a couple things I heard in sessions today, trying to draw the line between them. Early this morning, I sat in on a briefing by eCom Advisors about a study they did in partnership with FIS and […]

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I’ve been thinking a lot lately about social payments, and have reached two conclusions. The first is that a payment facilitated by a social network is not a social payment—it’s just a normal customer-not-present payment. The second is that social payments are, by definition, social in nature and involve multiple parties. Hear me out on […]

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Are you planning to attend NACHA Payments 2010 in Seattle April 25-28? If so, let us know. Glenbrook will be there. Erin McCune and Russ Jones are speaking on the emerging world of social payments and the B2B cash payment challenges. Carol Coye Benson and Jay DeWitt will be meeting with vendors and industry leaders. […]

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Glenbrook’s Erin McCune is in Orlando for BAI’s Payments Connect conference. John Stewart of Digital Transaction News moderated an open discussion exploring the most pressing issues in e-payments. It picked up on the list of 10 pressing themes raised in the November issue (pgs. 26-32). The panelists were: Aaron Fine, Oliver Wyman David C Stewart, […]

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I am a strong proponent of using Web 2.0 to develop relevant offers. For a bank it can mean finding a relevant context to present offers to customers; moving from intrusive selling to customer goal realization.  Web 2.0 also allows for collective learning and an increased sense of engagement that transforms passive customers to advocates. […]

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MORNING SESSION #1 – Whew – what a whirlwind!  Companies get 7 minutes to demo their products/services before the microphone is cut off.  Some very interesting stuff flying by at warp speed (so please excuse the grammar/any typos)! So here goes:

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Yesterday was the second annual BarCampBank San Francisco. There was a great turn out and spirited conversation about banks and innovation, Web 2.0 and social media, open transactional databases as a foundation for innovation, open source financial modeling for Wall Street and other investors, security as a product, mobile banking, and Open Money. Read on […]

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Web 2.0 means a lot of things to people. It’s the rating of things by a community, it’s chat, and it’s collective learning. For a bank it can mean finding a relevant context to present offers to customers; moving from intrusive selling to customer goal realization. Web 2.0 also allows for collective learning and an […]

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I was Twittering away throughout the conference (full archive of conference related Twitter posts here) thus neglecting coverage here at Payments Views. So here are some belated highlights, observations, and recurring themes from last week’s NACHA Payments 2009 Conference in Orlando.

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Heidi Miller, CEO JPMorgan Treasury & Securities Services, didn’t pull any punches this morning when she addressed the NACHA Payments 2009 conference. The financial crisis – and resulting economic uncertainty – is just one of the real dangers to the ACH network but those same dangers can be an opportunity for improvement. (I suspect she […]

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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 […]

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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. […]

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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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