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Digital tipping point - PwC UK

Banks are facing the 'perfect storm' as increasing regulations and cost pressures are compounded by the global economic crisis. Emerging banking technology is giving new competitors entry into the traditional banking revenue pools and driving a change in customer expectations and behaviour.

Digital technologies offer banks the opportunity to save costs and deepen customer relationships. We surveyed approximately 3000 banking customers in nine different markets to understand customers' needs, attitudes and behaviours to digital media. Key findings include:

75% of UK banking customers said that their phones had access to the internet and 56% say that they use social media at least once per day
Emerging markets and Generation Y customers are leapfrogging online banking and going straight to mobile, and developed countries are likely to follow suit.
53% of UK banking customers say that if they were going to buy a new banking product they would buy it from their current provider - this was the lowest of the 9 countries surveyed, indicating that the UK is a highly competitive banking market
Emerging markets score more highly on overall banking customer engagement, in areas such as 'My bank knows me well' and 'My bank makes me feel like they value me'
Online capability, security and simplicity of use were ranked as the 3 most important attributes UK customers want of their banks
In the UK 65% of banking customers would be willing to pay an optimal price of £4.20 per month for loyalty card services. A further 66% would be willing to pay for a Twitter/Facebook notification of a transaction.
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Lexus goes for mobile payments with financial services app - Luxury Daily

Lexus goes for mobile payments with financial services app - Luxury Daily | Financial | Scoop.it
Luxury Daily today - Lexus goes for mobile payments with financial services app; Top 10 luxury marketing ideas in 2011.
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Visa Europe: 2012 to be contactless tipping point • NFC World

Visa Europe: 2012 to be contactless tipping point • NFC World | Financial | Scoop.it
87% of contactless cardholders in the UK, Poland and Turkey believe contactless cards will be "instrumental in bringing mobile contactless payments to mark...
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Visa certifies Samsung, LG and BlackBerry NFC phones for mobile payments • NFC World

Visa certifies Samsung, LG and BlackBerry NFC phones for mobile payments • NFC World | Financial | Scoop.it
The Samsung Galaxy S II, LG Optimus Net NFC, BlackBerry Bold 9900/9790 and BlackBerry Curve 9360/9380 have now been added to the list of approved Visa payments products, enabling financial institutions to use them in commercial NFC deployments for...
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How PayPal plans to scale its in-store payment system

How PayPal plans to scale its in-store payment system | Financial | Scoop.it
PayPal is taking a big step forward with its in-store payment system by partnering with AJB Software Designs, which helps connect the point of sale terminals at many top retailers to payment processors and financial institutions.
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Bank signs up for cloud computing

Bank signs up for cloud computing | Financial | Scoop.it

Spanish bank BBVA tells the BBC it is switching its 110,000 staff to use Google's cloud-computing software in the largest deal of its kind

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PayPal’s impressive demo brings window-shopping to your phone… literally [Video]

PayPal’s impressive demo brings window-shopping to your phone… literally [Video] | Financial | Scoop.it

One of the most impressive innovations on display at LeWeb was this one from PayPal, which brings the idea of 'window-shopping' into the 21st Century.

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» On the road with Google Wallet Drop Labs

» On the road with Google Wallet Drop Labs | Financial | Scoop.it

The first thing you notice while launching Google Wallet is how purty it looks. Upon entering a previously agreed upon 4 digit PIN, it allows you in, and Payment Cards, Loyalty Cards, Offers & Transactions are all at your finger tips. I set up my Citi World Dividend card and the Google Prepaid Card that comes with a $10 infusion courtesy Google (Thanks GOOG!).

The first transaction at a McDonald’s equipped with MC Paypass terminals went with out a hitch. Paying by Google Wallet was unquestionably new and cool to both of us. Just to be difficult and out of sheer curiosity, I completed two transactions – one each via Citi and the Google Prepaid card. Emboldened by how smooth it went, I pulled out my phone every chance I got during my roadtrip, and provided the retailer had a paypass terminal handy, went ahead and paid using my phone to hushed tones of awe and envy. My inner 8 year old had a field day!.

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Dwolla, The Iowa Startup That's Killing Credit Cards, Is Now Killing ATMs

Dwolla, The Iowa Startup That's Killing Credit Cards, Is Now Killing ATMs | Financial | Scoop.it
Dwolla is an Iowa-based payment network that gets rid of a lot of credit card pain points. In fact, the network doesn't use credit cards at all -- it links right to users' bank accounts and makes...
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How will Digital Change Small Business in 2012?

How will Digital Change Small Business in 2012? | Financial | Scoop.it
We spoke with a number of small businesses about how the industry will continue adapting to new technologies in the new year.
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PayPal’s impressive demo brings window-shopping to your phone… literally [Video]

PayPal’s impressive demo brings window-shopping to your phone… literally [Video] | Financial | Scoop.it

One of the most impressive innovations on display at LeWeb was this one from PayPal, which brings the idea of 'window-shopping' into the 21st Century.

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Is Richard Branson all he's cracked up to be?

Is Richard Branson all he's cracked up to be? | Financial | Scoop.it

Aditya Chakrabortty: The billionaire Virgin boss is no radical, he's no entrepreneur, he's just a plain old-fashioned carpetbagger...Despite all the awards and the cosy relationships with whoever's in Downing Street, the Virgin boss neither makes anything, nor changes anything. He's no radical. The Northern Rock purchase is typical of his style: he fronts up a deal where the real money tends to come from someone else (in this case, an American and an Abu Dhabi investment firm), slaps the Virgin name everywhere and then cashes out as soon as possible. Branson isn't an entrepreneur; he's a carpetbagger.

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Lexus goes for mobile payments with financial services app - Luxury Daily - Mobile

Lexus goes for mobile payments with financial services app - Luxury Daily - Mobile | Financial | Scoop.it
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Landesbank plans NFC payments • NFC World

Landesbank plans NFC payments • NFC World | Financial | Scoop.it
Germany's Landesbank Berlin has begun testing NFC payments, using iPhones equipped with an iCaisse NFC case, in conjunction with Visa Europe and Swiss Post...
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US consumers "warming up to mobile payments" • NFC World

US consumers "warming up to mobile payments" • NFC World | Financial | Scoop.it
23% of US consumers are now "very willing" to use their mobile phone as a wallet, a KPMG survey has found, but many consumers are still expressing privacy and security concerns.
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Unbanked banking on mobile: From Kitwe to Cleveland - Mobile Marketer - Columns

Unbanked banking on mobile: From Kitwe to Cleveland - Mobile Marketer - Columns | Financial | Scoop.it
By Gary SchwartzCan mobile business models and banking solutions from Africa be transported to main street North America, where there are approximately 60 million people unbanked or under banked?
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Spanish banks prepare Barcelona and Madrid for mobile payments • NFC World

Spanish banks prepare Barcelona and Madrid for mobile payments • NFC World | Financial | Scoop.it
La Caixa is to equip all its 17,000 retail points-of-sale in Barcelona with contactless POS terminals while BBVA and Bankia are converting 7,000 points-of-sale in central Madrid, with the aim of paving the way for NFC mobile payments.
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Bank says no? Ditch the bank – borrow from the crowd - tech - 12 December 2011 - New Scientist

Bank says no? Ditch the bank – borrow from the crowd - tech - 12 December 2011 - New Scientist | Financial | Scoop.it

Traditional banks have failed us.Will online peer-to-peer lending rescue our personal finances, asks MacGregor Campbell...

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How Visa Predicts Divorce

How Visa Predicts Divorce | Financial | Scoop.it

By scrutinizing your purchases, credit companies try to figure out if your life is about to change—so they’ll know what to sell you. If you ever doubted the power of the credit card companies, consider this: Visa, the world’s largest credit card network, can predict how likely you are to get a divorce. There’s no consumer-protection legislation for that.

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Funding Circle expands its small business lending reach - Telegraph

Funding Circle expands its small business lending reach - Telegraph | Financial | Scoop.it

Peer to peer small business lender has secured venture capital to fund its rapid expansion...

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The long road for mobile payments

The long road for mobile payments | Financial | Scoop.it
American Express has worked up an infographic charting the rise of mobile payments, highlighting a lot of the milestones over time. All this work in the past is now coming together to make mobile payments a mainstream technology.
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Service Provides Targeted Advertising in Bank Statements

Service Provides Targeted Advertising in Bank Statements | Financial | Scoop.it

Banks are adopting a service that attaches user-specific coupons and deals to online spending statements.

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Don't Bother Tweeting Your Bank If You've Got A Complaint

Don't Bother Tweeting Your Bank If You've Got A Complaint | Financial | Scoop.it

Firing off a tweet about a crappy customer service experience at your favorite department store might be the quickest way to get the company's attention, but don't expect a speedy response from your...

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TechCrunch | Mobile Phone Payments Company Bango Signs Deal With Amazon

TechCrunch | Mobile Phone Payments Company Bango Signs Deal With Amazon | Financial | Scoop.it
Very interesting, Bango. Sometimes the biggest deals are the ones where everyone is keeping mum. That seems to be the case with this little blip of news coming out of the mobile phone payments company Bango today.
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