Wall Street Journal’s Walt Mossberg Loves Mint, Hates Financial Email

imageIt was online banking week in Walt Mossberg’s popular Wall Street Journal technology columns. Yesterday in The Mossberg Solution, authored by 20-something Katherine Boehret and edited by Mossberg, Mint’s personal finance service received a half-page article so complimentary I had to look twice to make sure it wasn’t an advertisement. Boehret couldn’t find a single thing wrong with the service, although she did wish for bill payment capability so she could do all her banking with Mint. I’m sure she’ll have her wish granted relatively soon.

image In today’s Personal Technology column entitled, How to Avoid Cons that Can Lead to Identify Theft, Mossberg himself dropped a bomb which will impact bank-marketing efforts for years to come. His first of seven tips for safe computing:

Never, ever click on a link embedded in an email (from your) financial institution….

That’s harsh, but it’s also understandable why he’d take that stand. Mossberg strives to make technology issues understandable to non-techie readers. However, it would have been better to add, “unless your bank adds account-specific personalization to the messages so you know for sure where they originated.” 

Action items
Many financial institutions, including Citibank and Bank of America, have long used personalization to distinguish legitimate messages from phishing attempts. Financial institutions with good personalized messaging should consider a public outreach program to counter the negative perception from the Mossberg column. It also might be a good time to remind front-line employees how to respond to customer concerns about phishing emails.

For more information, see our Online Banking Report on Marketing Security. 

FinovateStartup Best of Show Winners Announced

finovatestartup_logo An important part of Finovate Conferences, at least for the winners, is the voting process for best demo. All non-presenting attendees receive a ballot which allows them to rate each demo on a scale of one to seven. At the end of the final demo sessions, the ballots are tallied and the presenters ranked 1 through 40 based on the average score. A majority of attendees complete a ballot so it's a good indicator of the group consensus.

There were dozens of awesome demos to choose from, but the peoples' choice yesterday are shown below (in alphabetic order). Congratulations!

 First ROI (BancVue)             Jwaala

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Zecco                                                                        Zopa

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Videos of all the demos will be available soon at the FinovateStartup website.

FinovateStartup Live: ClairMail Demos Triple Play & Credit on Card

Second to last demo. Back to mobile.

ClairMail CEO Joe Salesky takes the stage with so much energy he doesn’t even wait to be introduced. It’s much needed at this point in the afternoon. Shows mobile bill delivery/payment and login via SMS exchange with dynamic link that needs just a password.

Joe closes with a live demo of how fast a text-message query can be returned, asking audience members to text “bal” to a shortcode on the screen. He’s run over his time but closes with a flourish.

FinovateStartup Live: TradeKing Demos TradeKing Community

Mike Massey is going to focus on the TradeKing Community. Excellent news.

Shame Mike was reading, and not sharing his passion and expertise with us. That's what you would expect from the Director of Community Development, right?

Mike was more passionate and relaxed when he started showing the community homepage.

They have a wide range of activities and features to urge people to produce content and contribute: group, blogs, active forums, research produced by members… Excellent.

FinovateStartup Live: Business Logic Debuts MoneyPools

Proactive identity protection. New version of their flagship service, IDFreeze. Yesterday, they announced the first true family package.

Another service to manage your investments. The interface is simple and intuitive. A lot of graphics and a good Web 2.0 look and feel. The colors are not as fun as on either Zecco, or Mint. It looks like a comprehensive service, but not as cool as the leading Web 2.0 startups.

The presentation was also a bit too dry. No jokes, no frills. Remember that it is already 2:30 p.m., and the pace at Finovate is hectic. Nothing personal, but we need some entertaining presentations!

FinovateStartup Launches Tomorrow

finovatestartup_logoOur first annual FinovateStartup debuts tomorrow in San Francisco. The 40 presenters will demo new and improved versions of their products. There will also be a number of new product launches, company rebrandings, and even several company debuts.

Christophe Langlois, from Visible Banking, will be live blogging here at NetBanker, so tune in tomorrow for his impressions. Also, expect even more opinions from the dozen other bloggers in the room, along with a number of other press representatives.

We'll be naming the Best of Show winners here on Wednesday and posting full-length videos of each demo soon. Sign up for our Finovate announcement list here (lower-left corner) if you want to be notified when the videos become available.

Quicken Loans is *Really* Using Twitter

imageLast week, I may have jumped the gun when I thought I'd found a bank using Twitter (post here). It's pretty apparent that E*Trade is not officially involved with that Twitter account.

But the ever diligent Ann-Marie Murphy was quick to add to the comments that her company, Quicken Loans, is *really* using Twitter to support its Quizzle personal finance site (see Quizzle coverage here). Beginning Feb. 22, the mortgage lender has posted 52 updates through last week (those would be called "tweets" if you are a real geek). That's about one per day, a good steady flow, without inundating the follower. 

Here's Murphy's rationale for using Twitter:

We've found it to be a great way to chat with our site visitors, get honest and helpful feedback to make the site better and give interesting home-related tips to followers. I especially like the instantaneous feedback. Ask a question, get a bunch of answers from folks who enjoy helping others.

Now this is what a real Twitter update stream looks like, complete with custom design. Nice.

Twitter page for Quicken Loans