The Mobile Moments Of Opportunity (Or Why Mobile Wallets Haven’t Caught On)

blogginMaking the payment is not the part of the customer experience that consumers want a digital wallet (whatever that might be) to improve. The mobile moments of opportunity–to improve the customer experience, to add new levels of convenience to the customer experience, to help consumers make better/smarter decisions about how they manage and spend their money–occur before and after the payment.

Delusions Of UnBanking

blogginA FinTech VC (no, not Matt Harris) writes: “It’s not hard to imagine that a majority of people in the U.S. could be banking with startups in the next three to five years.” If you’re on LSD, maybe.

The Facts About Payday Loan Borrowers

blogginTom Brown of Second Curve Capital nails it: “If the federal government wants to put an end to payday lending, Congress should act, or at least the CFPB should write some rules that would restrict it.” The fact about payday loan borrowers is that they are not all low-income consumers. And for many payday loan borrowers, it’s not a choice between a payday loan and overdrawing on the checking account–it’s both.

Define Disruption

blogginYou know what we need? A common, agreed-upon definition of what disruption is. Discussions typically focus on individual firms that are talked about as potential disruptors. I hear little, however, of exactly what new technologies they’re bringing to the table that would cause disruption, or of technologies that existing banks aren’t already adopting and deploying en masse.

Bank Simple, Email Hard

blogginNot that he needs my sympathy, but I kinda feel bad for Simple CEO Josh Reich. He mistakenly emailed an internal document to a reporter from some publication called Quartz, who–surprise! surprise!–published the not-so-ready-for-prime-time statistics, and claimed that Simple “seems to be struggling to sign up customers.” Both sides made some mistakes here.