Celent Banking Newsletter, September 2011
From the Senior Vice President
I just attended Finovate in New York, where Celent has become a partner. Finovate is a great place to see innovation bubbling up from entrepreneurs and sometimes even large companies. It is refreshing to see. Finovate Awards a Best in Show, and this event's winners were, in alphabetical order: BillGuard, Dynamics, eToro, FamZoo, FeeFighters, LearnVest, Offermatic oFlows, and Personal Capital. Not every one of these was a favorite of mine, but some were.
BillGuard is something I would personally sign up for. It examines your credit card bill and looks for fraudulent charges, working the same way a spam filter works. As users flag transactions, BillGuard looks for similar transactions among its customer base. BillGuard also has a browser add-in that would enable it to look at your transactions as you browsed your credit card's website. Many cool technologies don't make it to market if there isn't a business model. I hope BillGuard can find one that works.
FeeFighters is essentially an online site for comparison shopping of merchant processing. A new offering is Samurai, an authorization gateway that does least cost routing for the merchant. Although this isn't rocket science, the business model is clear. Merchants would be willing to pay for a gateway that reduces their costs. Merchant acquirers would pay for referrals from the merchant processing comparison site.
Offermatic enters the crowded world of merchant rewards competing with Cardlytics, Free Monee, and Clovr Media. The spin on this is that Offermatic can track follow-on purchases so the merchant can see more of a lifetime value of the customer. I'm concerned that the market may be too crowded by the time it can launch. Free Monee is already working with a number of large credit card issuers.
Celent will be releasing one report on Finovate this month and another at the end of the year. Enjoy the reports.
At BAI, Celent will be attending en masse, bringing analysts from all over the globe. We'd love to meet with you. Please feel free to schedule an appointment with any Celent analyst either directly or through your account manager. We look forward to chatting with you.
Senior Vice President
Chart of the Month
From the Celent report Taking It to the Teller Line: Considerations for Implementing Teller Image Capture
Celent Published Reports
- Taking It to the Teller Line: Considerations for Implementing Teller Image Capture
- Chinese Banking Technology Vendor Landscape: The Domestic Players
- Achieving Global Sanctions Compliance: Challenges and Solutions
- Making Sense of Mobile Financial Services: A Proposed Taxonomy
- IT Spending Trends in the Japanese Banking Industry 2011
- Personal Financial Management: The Devil Is in the Details
- Supply Chain Financing: Flavour of the Year?
- Reaching Underbanked Consumers Through Mobile Services
- Is That Any Way to Run A Branch? Workforce Optimization Solutions for Retail Banking
- It Takes More Than a Village Redux: The Decline of the Community Bank
- Business Process Outsourcing in Banking: An Analysis of Major Vendors
- Cloud Computing and SaaS: Getting the Most Leverage
- Trends in Anti-Money Laundering 2011
- Tipping Scale: Credit Union Consolidation
Research in Progress
- Innovations in Mobile at Finovate
- Status of Remote Deposit Capture 2011
- Corporate Mobile Banking
- Building a Successful Card Rewards Proposition
- SEPA's Impact on Corporations
Webinar: Core Banking Solutions for Credit Unions
October 19, 2011
Webinar: Outsourcing Trends in the Chinese Banking Industry
October 25, 2011
Webinar: Chinese Banking Technology Vendor Landscape
October 26, 2011