You know, looking back I guess we’ve all come a long way over the last decade. Few could have imagined the rise of the Internet-driven business.
The dot-com bubble didn’t slow the launch of new devices and faster connectivity. Most of my work was in infrastructure design – data centres and desktops. Corporates saw the Internet as something to be tightly controlled and restricted – filtered out of existence. Barclays had 256Mb in 2003. In total.
Autumn 2011 has been a really interesting time for banking. I mean new banking, not that tired old high street of ours.
MovenBank’s appeared, Zopa’s broken more records, Wonga’s won more awards and a new social P2P player’s launching, CivilisedMoney.
It generated quite a lot of Twitter traffic with people on digital banking’s front-line, like banking innovators, Darren G and Aden Davies. And raised one key question.
Online or on high street – can a click ever replace a footstep?
You know, no matter how much you explain, some people never manage to get it. Take Wonga and the thorny question of APR, for example. Now I’m not going into compound interest’s mysteries and related technobabble. Let’s just look at the reality of how life is and take it from there.
Before the crash, we trusted banks and most of us funded our lifestyles with credit. Nowadays, most people are recovering from first-degree finger burns and avoid credit like gasoline on bonfire night.
But life still bites. You still get unexpected bills that threaten the next meal’s arrival. And if that happens – and you’re smart – you’ll appreciate Wonga…
If our high street merged, what would you take from each to form one super bank? I’ll leave you for a minute to have a think about that one.
For all banking’s “talent” and money, why so little to choose between each one? Why can’t we find a killer product or even one differentiator?
How can this be – in other sectors key differences exist. Why not in banking?
I mean, there are some great web browsers – and they’re all free, for Pete’s sake. Gaming calls for the latest technology. People happily buy that, don’t they?
But for some reason, we have to placate the stupid and design sites like its 1999. Web designers are told that they must maintain full compatibility with everything. Not just for browsers maybe a version behind, but stuff from another age.
Well, I think it’s time we ask the question. Should we push or just follow?
Ever stopped for a moment to consider exactly what is banking really all about? Could a lawn mower be the key to change?Not any old lawn mower. But Bosch lawn mowers – and how they came about. Because this is about re-invention at a very dark time. A time not unlike now.
About how a company faced with a collapsing market found the vision to change. Emerging stronger and able to cope with an even greater challenge to follow.
The US government in reality is no more than some crude Punch & Judy show, the strings being pulled by a financial Mafia run by Wall Street and its lobbyists. Everything neatly stage-managed by a company called Standard & Poor.
Standard & Poor was perceived as the US financial world’s steadying influence. The trusted hand deciding the efficacy of decisions taken on Wall Street.
The banking crash revealed a startling fallibility – but was that the real story?
They must have made us buy millions of wallets. I’m talking about plastic cards. They became an obsession – even something we collected. Colourful, pictorial, themed, silver, gold, platinum, even black. We had them all. Pushed by banks and card companies desperate to part us from whatever cash the Government hadn’t taxed us on, we let them cause our own credit crunch.
But finally, the tide is turning. Its not just consumers who are abandoning them. The banks can’t wait to get rid of their dried up cash-cow too.
How come most companies think having PowerPoint more important than CRM? CRM comes last, after email, office productivity and accounting. Everybody knows, we’re told often enough, that looking after customers is vital. But as a process, many companies don’t see it as that important.
In fact, most companies don’t think about managing the relationship with their customers until something goes wrong and they find they can’t.
Ironic, really. When you consider that CRM will start to deliver benefits instantly, the moment you roll it out to your users. Let’s take a look…
Just a few months ago, I had high hopes for what Tesco bank might achieve. Even with Fred Goodwin fan-boy Benny Higgins in charge. But the recent prolonged outage for so many customers has been handled badly. And Benny Higgins has shown his old-school banking colours.
Given the opportunity to show strength and courage, he chose to make excuses. Instead of holding his hands up, he chose mitigation.
Every new venture has a wobble. He could have shone, but he blew his chance. Not only does Tesco have the wrong boss, it has the wrong staff. Here’s why…
OK, regular readers will know I’m not buying the hype around SmartPhone NFC. This is for a number of reasons and none of which are about it being new. I’ve talked about security, why quick isn’t a good reason, but that’s not everything. The real show-stopper to me is market reach. NFC just won’t fit the market.
Every other payment system before NFC reached its market cheaply and quickly. Now I’m going to show just how far NFC will fall short. Time to wake up…
Although owned by Royal Bank of Scotland, NatWest isn’t as hated as its parent. Strange, because really NatWest’s no better – some may even say its worse.
I’d like to talk a little about NatWest, but lets concentrate first on RBS as a brand. What can be done with a brand so damaged it’s lost the trust of its market?
I’ve just read a Management Today supplement about West Yorks Fire Service. Remember how Public Service budgets are meant to be getting cut back?
It should have cost a tenth of that – and it’ll only reach 60% of their users…
Maybe the great bank holiday weather took many writers away for the weekend. But the number of “its all over for Cloud” rants were mercifully few.
So, what should be taken away from Amazon’s failure. What have we learnt? Well, its shown intelligent system design is as vital for Cloud as anywhere else. Along with how many “experts” can still talk through their back-ends…