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Watching the explosion of content, and users, at Facebook, may be the most interesting thing we've seen since the rise of the commercial Web in 1995/1996. Marc Andreessen, not know for hyperbole, had this to say in a lengthy blog posting (here) that should be required reading for all content providers, including banks and credit unions: Read more…
Last week, I promised to provide more details on the conclusions in our latest Online Banking Report, Social Personal Finance: Will social networking revolutionize personal finance? It was mailed to subscribers last Friday, so it should be making its way through inter-office mail as we speak (or download here). Here are the major themes/conclusions from the report: Social networks are Read more…
One of the biggest questions surrounding financial institution blogging, is whether anyone would actually want to read one. We are firmly in the camp that EVERY bank, credit union, and financial services company should have a blog (see our Online Banking Report on blogging here). But with so few actually doing it, it's hard to Read more…
For something completely off-topic, here's a niche service that couldn't have existed prior to the Internet. Four-year-old Custom Receipts.com (screenshot below, link here) will create a year's worth of personalized fake ATM receipts. For $15 + $1.50 shipping, with payment via PayPal, you receive 52 ATM slips printed on thermal paper and dated every Friday Read more…
Today's New York Times (p. A8, national edition) has a half-page, red-and-blue ad for Bank of America dominated by the headline: If you have a computer, you have a bank. The visual is a generic laptop with a generic browser displaying Bank of America's homepage. Text copy and sub-heads emphasized that 20 million are now Read more…
Capital One Financial Corp. will be one of the nation’s 10 biggest banks based on deposits and managed loans when it buys Long Island’s $57.6 billion North Fork Bancorporation for $14.6 billion in cash and stock. That Capital One has turned itself into a national depository institution with branches and checking accounts is yet another Read more…
We’ve been tracking the developments in account-to-account transfers closely, in preparation for an upcoming Online Banking Report on the subject. It’s tough to get a handle on the actual dollar volumes, so we were pleased to see American Banker’s Daniel Wolfe quantify the market size. In Friday’s article (subscription required), MasterCard’s TowerGroup payments analyst, Beth Read more…
Because online customer service is required for survival, ecommerce companies often have the most highly evolved self-service facilities. One Drive users through self-diagnosis To maintain high customer satisfaction without driving servicing costs through the roof, online retailers and consumer service companies attempt to answer basic questions through a Web-based self-diagnosis. Only after the user has Read more…