Financial Services Notes

This is the first I’ve seen of a traditional FI using Twitter for financial services. A great (and probably rather easy/cheap) way to offer mobile banking. The downside is that authentication is not managed by the bank, some serious risks.

This is a really interesting concept, will be very interesting to watch and could change the way smaller financial institutions compete as the big get bigger.

While this looks great from a marketing perspective, it is an open invitation for phishing scammers - if all they need to do is say “don’t freak out” their job becomes so much easier.

This leads to an interesting question, especially for financial institutions as the online brand and presence becomes more important and consumers become more dependant upon it - how to improve and maintain the online channel without out “freaking out” the customers or exposing them to possible fraud?

This is a great example of a financial institution doing something unique, usable, and interesting through the online channel. It looks to be quite creative and I can certainly imagine users loving this functionality when looking for past transactions, or keeping track of future transactions.

It is doubly sad that the victims of this scam will be turned off from legitimate banking services for a long time, possibly for life.

This step from PayPal may bring mobile P2P payments in the states that much closer to common place.

I disagree with about 90% of the commentary on the linked to site, and the reference link provides no real information (PR would be better), but if this is true, it seems to be a bad thing at this point in time.

Sometimes we have to look within rather than just blame others.