The Bankwatch

Tracking the consumer evolution of financial services

FinovateStartup 2009 Conference highlights the future of banking

Jim posts a nice review of the types of demo’s at Finovate coming up.  Wish I was there!  I am especially interested in 1. 2. and 6.  – these are concepts that are bank shifting, and will wake banks up.

I like where Netbanker is going and I am thinking the same way.  As a group we used to be focussed on online banking evolution, but that horse has left the barn.  Banks are too focussed on getting issues of capitalisation and asset values.  As those matters evolve and the banks we used to look to for innovation develop into financial utilities for now, (most large banks) that are focussed on capitalisation, assets values and survival,  the field is opened up for start ups such as Obopay to redefine payments.

Finovate is the best source of this value chain shift imho, and one for industry watchers to note.  Congrats Jim on surpassing last years registrations.

FinovateStartup 2009 Conference Registrations Surpass Last Year | Netbanker

  1. A bank optimized entirely around the mobile channel
  2. A new approach to decoupled debit
  3. Several approaches to dramatically lowering transaction costs at
    the online point of sale by bypassing Visa and MasterCard
  4. A mutual fund created to invest in unsecured personal loans
    originated online in a social environment
  5. New peer-to-peer services supporting borrowing and payments
  6. The integration of financial management tools with payments accounts
  7. Platforms that allow financial institutions to customize their own
    financial offerings around market segments and/or personal finance needs
  8. New, transparent marketplaces for buying and selling debt instruments in large quantities ($ billions potentially)

Written by Colin Henderson

April 18, 2009 at 17:10

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