The Battle For Transaction Rewards
Last week Zil Bareisis posted a great blog entry regarding American Express’ Tweet Your Way to Savings Program. It’s a mighty interesting concept and provides quick cash back rewards to cardholders. It raises a few relevant questions for me:
- Are social rewards a passing fad? While this Amex/Twitter hookup received a fair bit of attention is it going to stick? It reminds me of a SPG promo announced about a year ago that offered 250 Starwood points for every Foursquare checkin during a hotel stay. Being a regular traveller, I tried this a few times and received some bonus points. I’ve since totally forgotten about it, and I am a points junkie! I don’t have any hard stats but I’d wager that usage of this promo has dropped off. Will the Amex/Twitter offers follow the same fate? There are hard dollars and a larger number of merchants involved here (see list of Twitter offers here) so it’s a tad different.
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A New Player in Small Business Online Banking. What The Intuit/Bottomline Deal Really Means
On March 5th, Bottomline Technologies and Intuit announced an interesting deal. There are two components to the deal:
- Bottomline acquires Intuit Financial Services commercial banking business for $20 million
- The two firms have formed a partnership and will work together “through cross promotions, referrals and joint sales efforts to deliver innovative solutions for financial institutions of all sizes.”
Several Celent clients have contacted us to gain a better understanding of this deal and what it means for the market. I interpret this in a very straightforward manner:
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Corporate Mobile Banking: Revolutionizing Cash Management
There’s been a lot of talk in the market about corporate mobile banking but not that much action. I recently published a new report on the topic and it has been extremely well received. The report examines and analyzes the state of corporate mobile banking. It delves into why mobile banking is important in the cash management space and explains some of the adoption hurdles. It explores security challenges, the role of the tablet, and the convergence of online and mobile solutions. Finally, the report provides insight regarding corporate mobile banking functionality and how financial institutions should go about deploying solutions.
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When Credit Card ID Checks Go Awry
I’ve always had mixed feelings regarding handing over my ID to a merchant when paying by credit card. On one hand it’s great that the merchant is protecting its business and you from fraud. On the other hand you are handing over your personal information to a complete stranger.
I was shopping last week with my wife at a Coach store in Florida. We made a small purchase and the sales agent asked for my ID. I handed over my credit card and ID and started chatting with my wife. I then noticed that the salesperson was studying my ID and appeared to be typing my information into her computer.
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Bank IT Spending and Trends: What Does 2012 Look Like?
The new year brings lots of questions, planning and decision making. IT spending is tied directly to these elements, and as in past years, we have been receiving a truckload of IT spending questions. After a rocky few years folks are curious as to if the figures are on the uptick in 2012. The short answer is yes, but growth rates are down in all regions, and some regions are doing better than others. The long answer, well, you will have to read the reports!
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Applications Open for the $50K Innotribe Startup Challenge
I’ve recently agreed to serve as a judge for the 2012 Innotribe Startup Challenge. The event provides an opportunity for FinTech and Financial Service startups and innovators to meet potential investors, customers and partners from financial institutions and FinTech investors. See the bottom of this post for info on how to receive an invite to the event.
Sponsored by SWIFT (www.swift.com), the Innotribe Startup Challenge (http://www.innotribestartup.com) fosters collaboration between emerging FinTech and Financial Service innovators and SWIFT’s member community.
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Celent Banking Blog – 2011 in Review
I thought it would be fun to recap 2011 by calling out the top 10 posts on our blog from 2011. The following list is based on total number of unique visits to each of these posts. Some of these are bang on as far as topic interest goes others may be surprising. Happy reading!
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