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On Friday, I received a marketing message from U.S. Bank attempting to convince me to turn off my paper statements and adopt online statements. In 2007 (here), I wrote about its similar effort at login. The graphic design and layout are wonderful with splashes of green throughout and a peaceful, sunny forest scene. It’s a Read more…
With all the bad financial news circling the globe, you may not have been thinking about innovations in financial technology. While that’s understandable, this is not the time to ignore the fundamental changes occurring in the consumer marketplace (see below). Yes, we are biased towards new technology, but with registrations to our upcoming Finovate Conference Read more…
Even though I have credit cards from Citibank, Wells Fargo, U.S. Bank, American Express and Chase, I have never been offered the opportunity to add contactless payment capability to my card, so I still have no firsthand experience of that particular wave of the future. And it hasn’t been too high on my list of Read more…
Kiwibank has one of the most eye-catching homepage designs in the world. Who can resist a lime green Smart Car with four monstrous speakers strapped to the roof? As I was obsessing about iPhone apps this week (see note 1), I ran across Kiwibank’s landing page for iPhone banking (see second screenshot below). Now that Read more…
September, October and November are traditionally great months for new product announcements. True to form, at least five major U.S. mobile banking announcements appeared last week. Brandon McGee posts a quick synopsis here. Of special interest were the announcements by Firethorn/CheckFree and Monitise/Metavante, all of which will be presenting at our upcoming FINOVATE conference in Read more…
In 2007, we'll be spending more time researching mobile banking, payments, and finance applications. So that we all understand each other, here are some of the key terms that will be used: General terms/acronyms: SMS >>> Short message service (also known as text messages, texts, SMSes, txts): A service available on most newer mobile devices Read more…
Yes and no. PayPal offers a full range of payment services that includes debit and credit cards, a savings account paying more than 5%, and loan options on major eBay purchases. Sounds pretty much like a bank, doesn't it? But are they the biggest? According to eBay's earning release yesterday, PayPal ended the quarter with Read more…
We are huge fans of Wired magazine <wired.com>, having read just about every one of its 190 monthly issues. In fact, eight or nine years ago I used to tell friends that the goal of Online Banking Report was to translate the technology magazine into "banking terms." I still recommend the magazine to anyone Read more…
In the 2002 study of small business, TNS (formerly NFO Global Financial Services) looked at which banks had the largest share of small businesses relationships and which were ranked highest by small business clients. SunTrust ranked highest in customer loyalty, followed by Wachovia and Washington Mutual. 1. Bank of America Pros: · Three Read more…
Looking at the entire universe (including self-employed and contractors), for 2004 we project growth of 2 million new small business online banking users, a slight decline from the 2.5 million who came online in 2003. And the rate of growth, due to the higher base, will slow to 17% from 2003’s 28% (see Table 9, Read more…
Types of Small Business Small business means different things to different people. For the sake of simplicity, in this report we’ll usually use the term “small businesses” to refer to the following segments: Two major classifications used in this report: 1. Microbusiness: Basic financial needs, such as Quicken support, simple invoicing, credit card processing, bill Read more…
By Annette M. Jacobs, CEO SafeHarbor Online banking is no longer a competitive advantage. Today, the value is to offer an experience that is simple, user-friendly and provides the highest completion rates. Customer satisfaction with the quality is critical. Online banking customers have high expectations regarding system reliability and content quality. The level of sophistication Read more…