Why Apple’s NFC snub might hurt the banks and networks more than ever?

Uber - doesn't need a swipe to offer better payments

I’ve always maintained that Near Field Communication (NFC) was attractive for both the banks acting as acquirers and issuers, and ultimately the networks themselves. Particularly in the US marketplace. Why? The only way to keep the Point-of-Sale (POS) terminal in a transaction as we shift to mobile wallet and mobile payments at merchants is for [...]

I'll never login with Facebook to my bank!

We’re experiencing a massive shift in consumer behavior right now with the explosion of Facebook, Twitter, YouTube, and other community collaboration and social media platforms. A world where Facebook has 800 million inhabitants and a President who is a college dropout (albeit Harvard). We’re seeing the global domination of mobile across the entire world, where [...]

When a Telco becomes a better bank…

The announcement that the Canadian carrier Rogers Telecom has applied for a banking license should hardly come as a shock to the retail banking fraternity. There is already a plethera of mobile carriers fully engaged in mobile payments right now, from Safaricom in Kenya, Orange (with Barclays) in the UK, the ISIS collaboration in the US, LG Telecom in South [...]

What Steve Jobs did for Banking…

As the news of Steve Jobs’ resignation rocks the world today, it’s almost like we’re reading his obituary rather than the news that a Fortune 50 CEO has moved on. The impact of Steve’s resignation will be felt hard on Apple’s share price no doubt, and even potentially hit the very fragile US market at [...]

Why Apple must incorporate NFC into their next iPhone

On 14th of March 2011, The Independent newspaper from the UK published an article suggesting that the iPhone 5 would not include Near-Field Communication (NFC) capability. A few days later on the 17 March, Forbes rebutted the Guardian’s article quoting a source that said NFC was a sure thing. Who’s right, and will Apple delay [...]

Starbucks Mobile Payment – the shape of things to come

On Wednesday 26th of January 2011, Michael Degnan (of SapientNitro and Engagement Banking fame) and myself headed down to the Starbucks at One Penn Plaza in New York City with the objective of recording our experience of processing a mobile payment using the Starbucks App for the iPhone. The App links your phone to your [...]

Don’t worry – you don’t need to develop an iPhone App

As of May this year, only 4% of US FDIC insured institutions in the United States had any sort of mobile play, a small subset of this group had iPhone apps, and an even smaller percentage had Android apps. We already know that mobile Internet based banking is the fastest growing interaction channel for banks [...]

BANK 2.0: Mobile AdServing or Mobile Offer Management?

With the massive activity in the mobile Ad space arena at the moment, I’m amazed that there is so little focus on this by Bank marketing teams.  It shows a level of ignorance that is staggering.

But it’s just yet more evidence that the shift from broadcast advertising, to well targeted, well positioned, personalized offers is a massive challenge for bank marketing departments.

Whatever the case – mobile, targeted offer management is a core skill for banks today – one that is generally completely absent from bank marketing departments. How do you know if as a bank you are ready for mobile? If you are asking your agency to run a campaign from their own list or database or you are trying to retrofit your currently monthly campaign onto SMS, that’s a bad sign…

Retail Bankers – Wake up to the 21st Century already!

Why have banks been so slow to adopt mobile banking, improvements in internet banking, customer experience and social media engagement?

Is it cost? Is it technical or platform integration issues? Or is it something more intractable.

Banks need to wake up to the 21st Century and fast. But as Albert Einstein said, problems aren’t going to be solved by the same thinking that created them.

Radio 938 Live – Singapore Radio interview launch of BANK 2.0

Radio segment that aired on Radio 93.8 Singapore 30th of April, 2010 (Recorded Friday 23rd of April) to launch my book BANK 2.0 in Singapore last week.

Michelle Martin and Radio 938 were so kind as to give me a very decent opportunity to explain more about the premise behind BANK 2.0 as a book and talk about the real challenges facing banks in creating or adopting innovations around customer experience. I hope that you find it useful in discussing innovation with your management team.