Why Kids Don’t Sign, and Why Banks Should Kill Off Signature Cards

When this was written, signatures were the most reliable form of identification used

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 practical use. More significantly, however, is the emerging trend that has some parents, educators and lawmakers espousing their concern – when [...]

Why smartphones will kill credit card rewards

This is what the first loyalty program looked like... (circa 1896)

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 US-based credit card APRs went as high as 39.6%[2] as banks like Bank of American tried to compensate for increasing risk, or unwind high-risk [...]

In 5 Years, 50% of revenue will be digital

Showrooming has emerged as a threat to physical retailers business models

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 increasingly becoming an exception. Certainly almost every bank in the world today has some form of Internet website [...]

$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 Moven front over the next few weeks…. And IT’S GOING TO BE HUGE!!!   [...]

When 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, Square or faster payments, but it is about context and simplicity, and that’s where the mobile and other technologies are [...]

The US is becoming the world’s largest closed-loop payments system

Two-thirds of all checks written globally originate in the US today

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, and China dominate the world’s payment landscape currently, but in volume of non-bank payments the US dominates with over 50% of the world’s [...]

Some Amazing Insights

A snapshot from Finovate Spring on the West Coast in 2011

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. This week we had the folks at Finovate give us a sneak preview of their upcoming NYC Fall show, but in the last few [...]

Why 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 budgets on technology, where other industries average half of that at 3.7%. Bankers would defend these costs because of [...]

Build your audience, not brand recall

Mobile Ad Spend Explosion!

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 brand awareness so as to generate interest in products or services. Recently, however, a subtle shift to consumer engagement has made itself evident, one [...]