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TheFintech
We bring you the latest related to innovation in financial services, with a strong focus on online and mobile banking.
Curated by Jelmer de Jong
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2012: a banking outlook

2012: a banking outlook | TheFintech | Scoop.it

Yesterday, we talked about the economic outlook for 2012. What about the banking outlook? Well it’s also challenging, with five clear things happening:

  • Regulatory change will still be high on the agenda
  • Investment banking will get a radical overhaul
  • Clearing and settlement will become a much bigger focus
  • Reconstructing distribution will be a big challenge
  • Contactless mobile will reach a tipping point in retail payments
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8 Bank Technology Trends That Will Shape the Industry in 2012

8 Bank Technology Trends That Will Shape the Industry in 2012 | TheFintech | Scoop.it

For the past several years, bank IT budgets generally remained flat. The financial crisis and ensuing fallout forced belt-tightening across the industry. In 2011, however, bank IT executives finally enjoyed some breathing room thanks to some revitalized spending power.
And in 2012, bank technology budgets should continue to increase, if ever so slightly. But with the economic recovery still on shaky legs, and with regulatory scrutiny more intense than ever, banks' IT investments are likely to be focused largely on driving efficiencies and complying with new requirements. Bank Systems & Technology identifies the IT trends and hot technologies that will change the game in the year ahead.


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On the road with Google Wallet

On the road with Google Wallet | TheFintech | Scoop.it

I rode about 900 miles in the last four days, cutting across Virginia, Maryland, Pennsylvania and New Jersey to be together with my family for Christmas. I figured this would be a good time to put my new Galaxy Nexus and the Google Wallet app through its paces. Following are my impressions from it, which as a whole was very cool and satisfying. But (and there is always a but..) it also brought to surface some serious handicaps, which though not Google’s fault, could bring its wallet initiative down like a lead balloon.

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Where Banks Failed, a Video Game Succeeded

World of Warcraft players are willing to buy security tokens at $6.50 a pop. Why aren't bank customers?

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Bankers Need Apple-Inspired, Useable Technology

Bankers Need Apple-Inspired, Useable Technology | TheFintech | Scoop.it

More than anything else, Steve Jobs was passionate about design – design that leads to improved usability. His belief that both hardware and software should be functional without training sessions and manuals has changed the way many industries look at their software. But will these ideas make it into banking?


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The Visual Story of How NFC Is Going To Change The World

The Visual Story of How NFC Is Going To Change The World | TheFintech | Scoop.it

The Visual Story of How NFC Is Going To Change The World

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Over 90,000 people have requested an invite to use banking alternative Simple.com

Over 90,000 people have requested an invite to use banking alternative Simple.com | TheFintech | Scoop.it

One of the hottest tickets in tech town is an invite to use Simple‘s “Worry-free alternative to traditional banking”. How hot is it? The service has over 90,000 people waiting in line to give it a try. That’s impressive for any service, let alone one that focuses on your finances.


Bill DeRouchey, Creative Director at Simple, recently discussed the phenomenon and why the company is still in “friends and family” mode with invites. Simply put, they want to offer the best financial experience, and its in no rush to launch.

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Will 2012 be the year we all get hacked?

Will 2012 be the year we all get hacked? | TheFintech | Scoop.it
The emergence of new hacker strategies to target physical infrastructure, financial institutions and mobile devices made 2011 a transformative year for digital security, says a report released Wednesday.

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The Eight Stages of Core Banking Transformations

The Eight Stages of Core Banking Transformations | TheFintech | Scoop.it

Commonalities in core banking transformations are what I look for. The common issues, mistakes, and roadblocks that I have seen across a number of large banking transformations are the things I like to solve for.


Recently while speaking with a client they asked me if they were any different then other banks going through the same type of transformation? Sadly I had to say no. In fact I had to tell them that they were going through almost an identical process as other banks. What are the stages that most banks undertaking a core banking transformation will go through? For simplicity sake I have distilled my view on the common processes down to a list of eight stages of core banking transformations.


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10 Resolutions Bank Marketers Can't Ignore in 2012

10 Resolutions Bank Marketers Can't Ignore in 2012 | TheFintech | Scoop.it

2011 was year that many bankers, and especially bank marketers would love to forget. Not only was focus diverted by the need to respond to new regulations for the second consecutive year (this time it was the Durbin Amendment), but the image of our entire industry was challenged as foreclosures and bank failures continued to be in the news.


We didn't do ourselves any favors in 2011 either, as some of the larger banks learned the power of social media when they decided to increase (and then rescind) debit card fees, or when the industry fought internally with Bank Transfer Day. 

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The Bigger the Bank, the Worse the Customer Service

The Bigger the Bank, the Worse the Customer Service | TheFintech | Scoop.it
The biggest bank in America isn't the one you might think: JPMorgan Chase recently knocked longtime rival Bank of America out of the top spot. But is bigger better?
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Innovator Series - Opening the First Cardless Bank

Innovator Series - Opening the First Cardless Bank | TheFintech | Scoop.it

Opening the First Cardless Bank - Chief Mobile Officer Explains Strategy; Movenbank is an idea that has come out my good friendship with Brett King. We often would discuss the possibilities with amazing enthusiasm. Movenbank is our chance to bring some of the best minds in industry together. The idea and the team were more than enough to get me excited


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4 personal finance technology trends for 2012

4 personal finance technology trends for 2012 | TheFintech | Scoop.it
If you're one of the holdouts still paying bills with checks, tracking your accounts with pen and paper or clipping coupons from the newspaper, 2012 could be the year you take the digital plunge.

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Startup Aims to Let Shoppers Use Gift Cards at Multiple Merchants

Openbucks, of Redwood City, in September launched its product, which enables holders of prepaid gift cards from major retailers to shop online at other merchants' websites. Participating issuers include Subway restaurants, CVS drugstores, Sports Authority, Circle K convenience stores and Citgo and Hess gas stations. Consumers may use their cards to shop online at some 500 locations, mostly to access games.

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How to get ready for the era of Engagement Banking

In this presentation, Jelmer de Jong presents the Backbase vision of Engagement Banking, introducing the concept of Bank 2.0, to help banks prepare for this era.

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6 Things You Must Do to Protect Your Digital Wallet

6 Things You Must Do to Protect Your Digital Wallet | TheFintech | Scoop.it

It’s a mobile world! Our mobile devices and smartphone apps can do just about anything these days, from paying for our groceries at the checkout to holding digital coupons for our favorite stores. If you’re like many, then your device contains everything from your daily workout schedule to all your mobile banking information.


While our cell phones and tablets offer us a great deal of convenience, they also put us at an even greater security risk. Imagine if your device got into the wrong hands or was hacked into while it was still in your possession. It’s a scary thought, but the good news is there are steps you can take to keep your mobile devices and digital wallet secure.


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How Technology Sharpens Online Loan Scoring and Matching

Modern technology allows a new entrant in the peer-to-peer lending space, SoMoLend, to create a more targeted matching system for small-business borrowers and lenders.

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What I Learned Working at the Original Too Big to Fail Bank

What I Learned Working at the Original Too Big to Fail Bank | TheFintech | Scoop.it
One of the biggest and best banks of its time was also the first bank to be called “too big to fail.” I should know. I worked there.

 

Continental Illinois National Bank and Trust Co. of Chicago would have been 155 years old next year. You may be surprised to hear me praise this institution so highly. But it was my first real job and the place where I learned how to be a professional, including how to be professionally skeptical.

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