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Thoughts on Banking, circa 2015

Thoughts on Banking, circa 2015

It goes without saying, that startups have disrupted many industries just in the past few years alone. From Uber to Airbnb, the previous incumbents were hit so hard and fast, they seem stunned. Part of the tension between the old way and new way is the heavy anchor of regulation. For Uber, they have and continue to fight their way into markets and break through this protective barrier. Even Tesla has to fight resistence of so called, Regulation, in their ability to sell direct to consumers. Whats clear though is that the massive power of the consumer, specifically the consumer labelled “millenials” will ultimately break through this wall and create new, previously unseen business models. I wanted to focus specifically on banking for a minute. There is so much disruption in this business that startups are slowly creeping into every crevice almost as if watching an alien invasion on a radar chart. From payments to loans, new entrants are testing and tweaking ideas and models to adequatly serve their customers.   What is odd is that it seems the slow moving incumbents are simply watching themselves being consumed almost as a paralyzed insect in the cross hairs of its predator. Companies who do understand this are already tapping into successful methods used in other businesses, to reach and convert consumers (see example of SoFi using GiltGroup to acquire student loan consumers).   Ultimately, it will be those who move now and innovate and engage correctly who will be the leaders of the next generation. At Call2ActionMedia, we are working on testing concepts that resonate with millenial consumers with...

The future of critical content consumption

  With the current stats on mobile data consumption, its clear people are relying on their smartphones for a large part of their content consumption. Critical information IE timely and relevant information such as planning an evening out requiring multiple sources to complete seem to be finally consolidating. I do not believe its feasible to have mobile screens with endless pages of apps or for the more organized to have many folders of categories. Mobile developers know the value of acquiring real estate on peoples devices, but at what point does it become too much. Que companies such as Vurb (see http://techcrunch.com/2015/02/26/mobile-search-david-vs-googliath/) . I believe this is the future. Consolidation, easy, bite sized content pieces coming from multiple data sources. Google Now is a great passive example of this by integrating with Gmail and pushing relevant content such as local weather, daily commute info, expected package arrivals, stock prices, sports team news etc. Vurb is aiming to make mobile search more user friendly by creating a simple path with a few taps to get users what they need and plugging into multiple partner content such as Yelp, Uber an Rotten Tomatos to provide a quick, seamless process to get users what they want in the least painful way. Cards are becoming more and more important and I believe with the amount of information being spit out at people on a daily basis, the only way a person can consume ala Twitter is through bite sized Cards. (see: http://techcrunch.com/2015/02/27/cards-transforming-web)....