Delicious Money Mashup: Enterprise web2.0, Tree.com + Thrive…

February 7, 2009
  • MoBank © The wherever you go bank
    MoBank is a mobile focused bank in the UK. It will be interesting to see how this works. I imagine that they will rely primarily on interchange and premium services that they sell on top of their regular services. I think in the US this concept would work on college campuses. Community banks, and especially credit unions should consider similar initiatives.  Financial institutions could create mobile brands the same way many of them have created online only brands.
  • NACHA Group Close to Proposals for Mobile Payments on the ACH
    It looks like NACHA will be formalizing something that has already been happening anyway: Mobile ACH transfers. PayPal allows you to send P2P payments via your mobile device (text messages or mobile app/site). If you do not have stored funds with PayPal, they pull money from your bank account via ACH. It seems like there is an opportunity for banks to take advantage of any new NACHA guidelines for mobile ACH. It will be interesting to see what NACHA comes up with. Given the wide reach of NACHA and the the participation level of banks, the potential is huge.
  • Security experts warn of online banking Trojan
    These types of threats are still present even with the mandated implementation of dual factor authentication. It seems this is a version of a man-in-the middle attack that intercepts information on its way to or from your computer. This could allow the criminal to take over your session and conduct some transactions on your behalf. This is a problem for Online Banking sites because it is difficult to stop these types of intrusions since they are result of something on the client’s computer and not the Online Banking site. One way banks could help with this would be to offer virus detection software or even hardware (i.e. USB keys) that runs the browser session from a “vault” that is walled off from the operating system.
  • Web 2.0 and the Enterprise: A Symbiotic Relationship
    This presentation lists five reasons why the relationship between the enterprise and web2.0 sites is symbiotic. 1. “The Facebook Affect” Work and personal lives continue to blur. 2. People share with each other if they trust each other. Obviously the workplace fosters that trust and is conducive to sharing ideas online. 3. Big ideas and little ideas matter. It is much easier to gather and manage little ideas via social networking. 4. Social graphs serve as a bridge. Social graphs allow you to combine and aspects of social sites. Linkedin can be used in the enterprise, and I can share these delicious posts on Facebook. 5. The enterprise is changing. Some companies are letting their engineers comment in forums. A broader group of employees is engaging with customers via social tools such as blogging, twitter, and forums.  Although my five reasons would probably be a little different than the author, I agree that social collaboration tools could greatly improve productivity in the workplace.  How many times have you worked for weeks on a project only to find out that someone else in the organization is doing something very similar and much of your work overlaps?  Web2.0 could solve those types of problems and it could create an environment where new ideas are shared more freely and efficiently.
  • Tree.com Acquires Thrive
    Thrive is a financial transaction aggregator in the form of Mint and Wesabe. Tree.com owns several real estate and lending related sites including LendingTree.com. It will be interesting to see how the combine the services of their different sites. Particularly how they combine the services of LendingTree with Thrive. As I mentioned in a previous post adding lending, account opening, bill payment, and transfer services is probably the next step for sites like Mint and Wesabe.
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