Archives for December 2012
December 17, 2012 by 3 Comments
American Banker published an article last week describing Bank of America’s quest to bolster the ranks of its mobile banking customer base. According to the article, the bank is outfitting its teller stations with quick response (QR) codes that can be scanned by mobile devices to download the mobile app. What a great idea! For too long, most financial institutions have limited the merchandizing of mobile banking capabilities. Even after investing in sought after capabilities such as mobile remote deposit capture, many banks enrol mobile banking users primarily through the online channel. Go figure! In-branch merchandizing is a logical way to leverage remaining foot-traffic for the mutual benefit of online banking enrolment, and QR codes at the teller line is a great way to do so in my opinion. After reading the article, I was eager to see them for myself at a local Bank of America Branch. Upon entering the branch, I was instantly greeted by a charming and enthusiastic employee who was quick to answer my query. She had no personal experience with the in-store merchandising though, and even asked me what app I use to read QR codes. The merchandising wasn’t at the teller stations, but at the deposit preparation desk (below) and also prominently positioned at each new account desk. Once scanned, the QR code directs the user to the appropriate app store to download the bank’s 4.2.69 version of the mobile banking app. Note that the merchandising didn’t simply advertise mobile banking, it sells the benefits of the bank’s newly released mobile deposit capability. Placement was perfect – right where in-branch depositors will be filling out deposit slips. Use of QR codes is smart for their ability to allow consumers to easily inquire without taking bank staff’s time. It reminds me of another clever application of QR codes. My wife is a first grade teacher. She enjoys the use of iPads in her classroom and integrates them into her curriculum. One way she does so is by loading a variety of educational games onto the iPads for use throughout the day to reinforce lessons. She makes a number of “low-technology” games available as well. Games are a great way to provide some educational fun while she is working with other students. Like new banking capabilities, the problem with games is that they must be explained. Having to do so in the classroom is distracting and diminishes the value of “self-service’ learning games otherwise provide. To address this problem, she recorded instructions for each game on YouTube and provides a QR code for each game that links to the explanation video. Students wishing to explore a new game simply scan the appropriate QR code and they’re off. It saves her countless interruptions. Apparently Bank of America tellers will soon be enjoying the same benefit.
December 13, 2012 by 2 Comments
People say that Ernest Hemingway was challenged to write a six word story that would make people cry. He rose to the challenge with the following story: For sale: Baby shoes, never worn. Celent is presenting a similar challenge that is intended to bring tears to your eyes, but whether they are tears of joy or sadness remains to be seen. Celent is asking its readership to come up with a six word definition of innovation. My personal contribution: innovation is … easy to conceive, difficult to implement. Perhaps my favorite color is jade. You can enter the contest and see other entries on Linked In or by e-mailing your entry to Erica Ferguson (email@example.com) using the subject line Innovation Is. We will be evaluating these stories as definitions and selecting a winner at Celent Innovation and Insight (I&I) Day in Boston on February 27th. There will be prizes! Did someone mention I&I Day? This year, Celent is bringing in the director of MIT’s renowned Center for Information Systems Research (CISR). for our keynote speaker. Jeanne Ross studies how firms develop competitive advantage through the implementation and reuse of digitized platforms, a subject near and dear to the hearts of many a digital channel executive in banking, insurance, or capital markets. Celent’s Innovation and Insight Day will host a variety of Celent and non-Celent speakers. If you’d like to see the full agenda and learn more details, please visit our registration site. I look forward to reading your brief thoughts on innovation and seeing you at Celent’s I&I Day in Boston.
December 13, 2012 by Leave a Comment
We’re coming to the end of the old year and the top of a new one, and that means it’s time for top trend reports from Celent. These are typically some of the most downloaded reports of the year. They represent the collective thinking of the entire Celent banking team. There will be four coming out in short order:
- Top Trends in Retail Banking 2013
- Top Trends in Retail Payments 2013
- Top Trends in Corporate Paymentse 2013
- Top Trends in Corporate Banking 2013
December 12, 2012 by Leave a Comment
Bart Narter, Senior Vice President, Celent’s Banking Group This event is free to attend for Celent clients, flex-plan clients, and the media. Non-clients can attend for a fee of US$250. If you are unsure of your client status, please contact Steve Nawrocki at +1.617.262.3128 or firstname.lastname@example.org. Please click here for more information.