- IOU Central: P2P Lender
IOU is a new p2p lender set to open in the spring of this year. Despite regulatory scrutiny from the SEC, it seems new p2p lenders are determined to open. It will be interesting to see how IOU differs from other p2p lenders already making loans.
- Amazon Payments Account Management
Amazon competes directly with PayPal with this p2p mobile offering. It allows you to send money to others using text messages. It links to your Amazon profile and will use your credit card to fund transfers to other consumers. You can send funds to email addresses, aliases, or mobile phone numbers. If you do not connect a bank account to your profile, then it will pull money from your credit card as a cash advance.
- Hunkering Down: Strategies for the Financial Crisis
What should your alternative channel strategy be in a year of financial turmoil? The author suggests puttig mobile on hold, conversing with customers via, email, blogs and podcasts, and adjusting your online marketing strategies. I am not sure I agree with the mobile on hold suggestion. If you are looking to expand your deposit base, there is evidence that a good mobile initiative will help.
- Mobile Banking Stats: 40% of Bank of America’s 2 million Mobile Bankers Use iPhone or iPod Touch
Bank of America believes that their iPhone offering may be driving new business. In other words, people are opening accounts at Bank of America just because they want to use the iPhone app.
- High-Yield Reward Checking News – Growing Popularity
Rates on high yield rewards checking accounts remain quite high; even higher than those of savings and accounts and CD’s. High rate checking accounts reward customers for using their account in ways that makes the financial institution money – via interchange – and saves them money – by subscribing to eStatements, using Internet Banking, and other electronically delivered services.
- Fiserv, Jack Henry Upbeat About Core Client Spending
Most of Fiserv’s and Jack Henry’s revenue comes from small and midsize banks and credit unions. Those midsize clients seem to be doing better than their larger counterparts, and may even raise their spending in some areas this year.