In most industries, governance represents a key and important part of the social world. I’ve lost track of the number of people whose companies disallowed social interaction of any kind because they fear the capabilities of this new generation of tools. Many executives fear what will be said about the company. They wish […]
Management Consulting
The Convergence of Technology and the “Social Banking” Experience
As a technology marketer, I thought it was appropriate that I begin my blogging experience with a post about the role of both social media and technology in the financial services and banking industry. As mentioned in a recent HBR blog post, many traditional forms of marketing have been tossed to the wayside. In response […]
The Death of Cash?
I’m well aware that my children and grandchildren will never experience some of the activities that defined my youth. Activities like creating mixed tapes, watching a VHS and memorizing friend’s landline phone numbers. But will they ever experience cash and credit cards? Or will these soon be nostalgic items of the past too?
Where’s Waldo? The Case for Enterprise Content Management
To coopt a phrase from a popular children’s book and game series, “Where’s Waldo?” This simple question along with the ever present who, what, when and why, are often answered with inconsistent or incomplete responses in Enterprise data. As companies have merged, acquired and grown, many times it’s virtually impossible to get an answer to […]
Mobile Payments and the Importance of Critical Mass
I hear a lot of bloggers and pundits speak of the increasingly important target market for mobile payments. After all, the media coverage and social conversation around the topic of mobile payments has reached a fever pitch, and some wonder whether it’s worth all the hype. For example, I was reading the article “What’s missing in […]
Holding on to Banking Customers in the Mobile Wallet Age
According to a Carlisle & Gallagher Consulting Group survey, customers that are interested in mobile banking technology would consider an alternative to their primary bank for both mobile wallet and core banking services. The two largest consumer groups demonstrating this interest are young consumers and affluent consumers, both important demographics for the banking industry. 76% […]
Mortgaging Customer Goodwill
Almost every week we see another story in the national press about how “unfeeling banks” are foreclosing on a homeowner over an 80 cent payment error, or foreclosing on a house the bank doesn’t even own. After several social media blogs, several thousand tweets and retweets (with fiery commentary) and various news networks report the […]
Calling a Truce Between BPM and Six Sigma
I’ve heard a lot of operations folk talk shop over the years. My GE friends in B-School were the ultimate Six Sigma champions. I learned about kaizen and the art of lean while working in Japan. Then we have the tech champions of BPM technologies. These methods are often backed with an almost religious fervor. […]
Preparing a Bank for the Monumental Changes Ahead
The banking industry is in the state of flux. We have distruptive technologies in terms of mobile banking and payments that are creating siesmic shifts in the way business is done. We need to harness big data that is growing at exponential rates. It’s hard to keep up. As any CIO knows, any organizational change, […]
The Bold New World of Mobile Payments
Imagine a stressed out holiday shopper rushing to make last minute purchases in a busy suburban shopping mall. As the shopper reaches the final checkout of the day to buy the newest gaming console for her son, the total displayed on the register is over her budget. Determined to buy the item, the shopper lifts […]
Top 10 Trends Shaping Big Data in Financial Services
One of our Business Intelligence colleagues wrote a great post recently on the top ten trends that are shaping the financial services industry’s use of big data. 1. Larger market data sets containing historical data over longer time periods and increased granularity are required to feed predictive models, forecasts and trading impacts throughout the day. […]
Managing Process is Key to Dodd–Frank Wall Street Reform
This week I was discussing regulatory compliance issues with our Business Process Management (BPM) guru, Kevin Feldhus. We’ve led some really large and complex regulatory initiatives with banks, but never have we witnessed anything so encompassing as Dodd Frank. The scope of most bank regulatory projects typically focuses strictly on compliance. Any thoughts relating to […]