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...
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...
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...
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...
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...
Yesterday, Google Checkout announced that it was changing its fee structure beginning May 5 - eliminating the previous credit that Google AdWords customers got that reduced their Google Checkout fees. Instead, the new Google Checkout fee structure essentially...
In his New Yorker column this week titled "House of Cards", James Surowiecki writes about how some US credit card issuers are trying to shed some of their existing customers.In effect, they’re trying to follow the advice given by Larry Selden and Geoffrey Colvin in a...
Late last week, Thomas M. Hoenig, President and Chief Executive Officer of the Federal Reserve Bank of Kansas City, gave a speech in Omaha titled "Too Big Has Failed".A lesson to be drawn from Continental is that even large banks can be dealt with in a manner that...
I had a good chuckle at this morning's news report from WSAZ-TV, Channel 3, in Charleston, West Virginia:A man from Charleston faces charges after police say he used his debit card during a robbery. [Name deleted] is accused of trying to rob the Certified Station in...
Today, Citi announced a new Visa credit card program called Citi Forward. Interestingly, as part of its launch, Citi is using Twitter as one of its channels. Perhaps the partnership with MySpace for a version of Citi Forward is the reason? Other issuers we're aware of...
