P2P gets its groove on!

No one could doubt that peer-to-peer lending (or P2P Lending) has landed big time in 2010, but it looks as if the best is just about to come. The US leader Lending Club will issue more than $250 million in loans this year – greater than the last four years combined – for a total [...]

VIDEO: Opportunities in the Underbanked Space

With somewhere between 40-70m underbanked in the United States alone, there are significant opportunities to re-think where these individuals fit in the banking landscape. Since the introduction of the Durbin amendment the likelihood of more of this segment entering the mainstream banking sphere is further reduced. How will mobile payments and pre-paid debit cards effect [...]

Mobile Credit Card payments – there’s an App for that…

There’s a great deal of debate in the Financial Services community at the moment about the potential impact of NFC or Near-Field Communication technology within mobile phones and how it will effect the payments landscape. The financial services players are generally scratching their heads and although they admit that NFC phones like the iPhone 5, [...]

Online Privacy and Fraud is not that big a deal…eventually

Fraud, Privacy, Social Networking, Online Phishing Attacks – it all sounds high risk. If that’s so – why aren’t these issues preventing people from using the digital medium, buying online and interaction with less privacy than ever before?

Mobile Apps Force Retail Banks to Rethink Their Roles…

I see a lot of banks tacking on mobile internet banking apps at the moment – call it the me-too trend of mobile banking. Max McKeown in his book The Truth About Innovation (2008, London, UK, Prentice Hall) wrote that innovation is a new way of doing something or “new stuff that is made useful”. Banking on your mobile is hardly new, although admittedly earlier derivations based on WAP or surfing your bank’s normal webpage on a mini-browser have not exactly been hugely successful or highly usable. So mobile banking applications don’t really provide any new ‘stuff’, but they are definitely serving up content and functionality in a more user friendly manner. When I talk about innovation in mobile banking, however, what I’d really like to see is a number of initiatives that innovate my experience through an iPhone or Android App beyond just simple usability. Let me explain….