Are Banking and Innovation Incompatible?
Roger Denis at IdeaPort and Harm Joose at Mastering KnowledgeManagement have an interesting tete a tete going on regarding banks and the 2.0 customer. Harm has suggested that operational excellence and integrating innovation at the product engineering level is the response to these issues that Roger pointed out:
- The decrease in cash usage and complete dominance of plastic (debit and credit)
- Rise of the mortgage broker as a source of impartial financial information for the largest segment of the bankable population
- The perfectly informed consumer who can test the value proposition of his or her bank instantly by comparing rates online.
A perfect storm of trends indeed. Operation excellence is critical and by my estimate the minimum cost of entry. Innovators in the financial services arena need to be perfect customer managers as well as clever. The good news is that outsourcing, online distribution and other creative, low-cost business platforms have permeated the industry and have met customer expectations (more or less). The big-business applications of these technologies are retro-fits to old business models and do not take advantage of common 2.0 themes such as demand aggregation, network effect, etc.
I fully expect that Prosper and Zopa are the tip of a financial services innovation iceberg that entails business models built on fluid data, customer control and solutions that are shaped to meet needs rather than the other way around. The difficulty as I have blogged before, is that putting more innovative models around peoples money and wealth is a much riskier proposition than putting my family photo album on Flickr. However, with the evolution of Paypal, Zopa and Prosper, as well as new tech such as NFC payments and mobile phone payments and banking, expect more from your bank.
Thursday, October 4th 2007 at 4.25pm
I’ve got an Amazon gift certificate burning holes in my pocket,
and I want to get the most bang for my buck.
Enter the Secret Amazon Web Pages:
http://tinyurl.com/38sojf
This is where you’re going to find the “latest sales, rebates, and limited-time offers” from
Amazon, and you can score some pretty deep discounts if you’re a savvy shopper.
Next, there’s the special Sale link. This is open every Friday, and ONLY on Fridays.
You can find the same good discounts here as you would in hidden Deals, although some
Fridays you can really get lucky and make off like an Amazon bandit - I’ve seen discounts
there as low as 75% off sticker price.
Friday, October 5th 2007 at 1.01pm
There’s one special secret Sale link on Amazon:
http://tinyurl.com/2r7ldr
This is open every Friday and ONLY on Fridays!
You can find very good discounts here, although some Fridays you can really get
lucky and make off like an Amazon bandit - I´ve seen discounts there as low as 75%
off sticker Price.
Monday, November 19th 2007 at 6.09pm
Nice forum!
.
Monday, November 26th 2007 at 9.42pm
Good day
It’s a quick video I created to show off the Dervish’s dance from the guildwars nightfall party.
The dance the dervish does is the same one that Christoper Walken did in the video for Fatboy Slims’ - Weapon of choice music video (hence the music used)
Post your comments please
Mine
youtube.com/watch?v=j_aONMdkzxU
Original for those that may not have seen it
youtube.com/watch?v=0WW8flwpH-Q
Tuesday, November 27th 2007 at 3.40pm
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Hi.
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Tuesday, December 18th 2007 at 9.26pm
I’m sorry if this is off-topic, but I need some feedback. Do you think extended auto warranties a good deal?
Thanks in advance for your input.
Thursday, January 10th 2008 at 5.24am
subj
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