Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom.
- What’s new is what’s happening
It’s big deal when your company is named in a list of the “world’s top 100” anything, and it’s a really big deal when your company is listed on Forbes’ “World’s 100 Most Innovative Companies.” So the people at FIS—or more specifically, Fidelity National Information Services—should rightly feel pretty good about their recent placement on this very list, at the 98th spot. It’s the only U.S. financial technology provider there, which includes such other companies as Apple, at a surprisingly distant No. 79, Pepsi, at No. 58, and Google, at No. 47.
- Bank Fees Rankle Otherwise Satisfied Customers: Survey
Checking account fees may help banks pad revenue, but a new survey suggests that ATM and overdraft charges can send customers running. Over a third of Americans said they would be very or extremely likely to switch banks to avoid paying fees on their checking accounts, according to TD Bank’s inaugural survey of more than 3,000 consumers. In fact, 14% of respondents have already moved their business for those reasons. Some types of charges aggravate customers more than others; 38% of respondents said that nonbank ATM fees were the most frustrating type of charge. Another 27% awarded that dubious honor to overdraft charges. Just 13% picked minimum balance fees as the most annoying type of charge.
- Microsoft and Nokia: What Kind of Marriage Will It Be?
Microsoft announced that it has purchased Nokia’s mobile phone business. According to the announcement, “Under the terms of the agreement, Microsoft will pay EUR 3.79 billion to purchase substantially all of Nokia’s Devices & Services business, and EUR 1.65 billion to license Nokia’s patents, for a total transaction price of EUR 5.44 billion in cash.” Both companies have been struggling to adapt to changes in mobile computing – Nokia has lost its leadership in handsets, and Microsoft was rather late in announcing its latest Windows mobile operating system, which remains a distant third to Apple and Android.
- ‘Stache & Save’ Helps Kinecta Connect On Facebook
Kinecta FCU here boosted its Facebook engagement by using mustaches and an online slot machine. Kinecta launched it “Stache & Save” campaign as a way to increase engagement on its Facebook page and grow its number of likes. To do so, it created an online slot machine, and when users pulled the digital handle, it rotated through three different mustaches. Three matches made for an instant winner of a $50 gift certificate and was entered into a drawing for a $2,500 gift certificate.
- Big Data and Payments Drive Loyalty in Business Banking.
In the ‘consumer edition’ of the blog it was suggested that banks can reinvigorate their payments brand and influence customer loyalty by integrating incentives and offers to their payments solutions. The premise is that banks are missing out on an opportunity to become more influential in where people shop and what they buy, rather than just how they pay. Offers can be driven by analytics into a combination of historical payments information and big data analysis of demographics, location positioning and peer group analysis. Such a strategy requires more than an offers solution, or a mobile banking app.
- The Path to Innovation Goes Through the Cloud
As cloud adoption reaches the tipping point, some sectors are seeing newer market entrants threatening to overtake legacy players mired in tradition. Gartner predicts that the worldwide cloud services market will grow 18.5 percent in 2013 to total $131 billion, up from $111 billion in 2012. Yet, many of the world’s oldest professions such as accounting, legal and banking have been slow to tap the cloud to make it rain. The flexibility of cloud computing – being able to try before you buy, scale easily and use the device that suits you – allow savvy businesses to respond quickly to market trends and demands.
- 6 Tips for Safer Smartphone Banking
More than half of American adults have a smartphone today, and more of us are using them to check balances, pay bills, deposit checks and conduct other banking business. Luckily, experts say there are steps that even non-technophiles can easily take to safeguard sensitive information. Password-protect your phone. Stay off public wi-fi networks. Use the bank’s app. Don’t save your log-in data. Keep up with updates. Log off when you’re done.