Innovation round up - October 08

It would be a fair understatement that since last months newsletter, our industry has undergone some pretty titanic activity, mostly in a concerning way. Bank performance, regulatory responses and customer perceptions have been rocked by the cresting waves of crises gripping global markets. In the meantime, the more things change, the more they stay the same - its more critical than ever to create positive customer experiences, that engender trust, confidence and connection with our customers.

Can innovation influence this? Perhaps its not needed. Perhaps competitive advantage at the moment means standing firm, as opposed to crumbling. Or perhaps innovation is crucial in thinking of new and different ways of negotiating this period.

Ever present is the need for quality customer service and experience... Certainly now more than ever customers need reassurance that all is ok, and that our levels of service will be maintained or even improved as we concentrate on protecting their interests. We should communicate to our customers the values that make your bank a trusted brand, and deliver the kinds of experiences that make life simpler, easier and more financially secure, and build confidence in our customers.

An edited list below where I've linked before. ------------------- FINANCIAL SERVICES INNOVATION ANZ BREAKOUT & LEARNING CENTRE - "This large, flexible, multi-purpose space is designed to encourage creativity, however it is in the execution that the freedom from constraints of a "normal" office environment is apparent." MONEYTRACKIN - Know how you spend your money, Keep track of your shared expenses, Accounting for your small business - like Mint.com 10 REASONS FOR BANKS NOT TO GET INTO SOCIAL MEDIA - Christophe takes a backward stance here on Social Media - we need to do it! DIFFERENTIATION IN PRIVATE BANKING - Private banks speak more about themselves than they do about their clients. Moreover, they hardly differentiate and they tend to use the same language.

SECURITY MYSTERY SHOP - "Our effort required us to talk and interact with several people. At no time did anybody question who we are or call the vendor to confirm our identity." Another entry on security from ZDNet XERO.COM - Kiwis have launched their own budgeting and online software tool for small business - highly recommended BANKING ON MOBILES FOR DEVELOPING COUNTRIES - "With subscription numbers at over 50 million, mobile phones were already reaching rural Pakistanis who have no formal banking access. But which rural mobile phone users should he target?" Fascinating report.

THE CONTACTLESS WRISTBAND - Contactless chips have huge untapped capability, but the plastic around the chip limits its potential. INTERNET BANKING ABOUT TO GET LEAPED - There's been no reason to change given Internet banking is still more popular than Facebook, but bankers must realise there is a shift happening in the way consumers access financial information. ------------------- SPECIAL CREDIT CRUNCH * WATCH THE PRETTY COLOURS TURN FROM GREEN TO RED - This interactive market map is very old, I think I sent this in the 1st ever newsletter, and it was years old before that WORLD ON THE EDGE - Economist gives their normal pragmatic yet as normal pithy view on the worlds situation FT GLOBAL FINANCIAL CRISIS TIMELINE - Keep on top of it at FT NEW RULES FOR BANKING : TREAD CAREFULLY - Even at the best of times, nobody loves banks.

There is a strong populist strain of anti-banking sentiment in the US (vividly demonstrated in Congress this week) and in the UK. Banks are especially unpopular in two circumstances: first, when they are very profitable; and second, when they are very unprofitable. * not a breakfast cereal ------------------- INNOVATION MICROSOFT SURFACE TABLES USED IN HOTEL LOBBIES - With a 30-inch display in a tablelike form that several guests can use at once, Surface features an intuitive user interface that works without a traditional mouse or keyboard to let people interact with content and information in a natural and familiar way SAVE YOUR SENSIBLE - An odd but nicely made campaign for Cadbury Schweppes Spring Valley LIFT CONFERENCE VIDEOS - Any of these are pretty interesting.

SHARE IDEAS WITH NOKIA - Nokia facilitates a way to improve the world through mobile phones RANDOM TRAVEL THOUGHTS - Some nice little thoughts from Seth - his blog is worth checking out NEW CHAMPIONS - Nicknamed Summer Davos, some of the worlds emerging young leaders come together to discuss global issues and challenges GOOGLE ZURICH'S AMAZING OFFICE - Have a look at the toys these guys get to play with, the rooms they have to think, create, work SONY ERICSSON EXPERIA MICROSITE - Pretty nice phone with keyboard - everyone's making an iPhone now BUSINESSES WITHOUT WEB PRESENCE - Have a look at the stats - almost a 3rd of SMEs don't have a website presence - can we help them with this? GET OUT THERE - Heres a NAB Life kind of experience - the QLD government helps young people get set up in life CONTENT IS KING, DELIVERY IS QUEEN - "Having just spent last weekend in Las Vegas at the Blog World Expo, the importance of how that content is delivered was reiterated to me.". Mon Oct 2008 04:10 (1 month, 2 weeks ago)