I finished reading Michael Pollan’s the Omnivore’s Dilemna recently. Given that it’s all about food, it was surprisingly thought provoking on its implications on serving the un- and underbanked. Even without a mention of prepaid cards, payday loans or second-chance checking accounts. It’s about the challenges – and importance –…
More pleasure, better business
Financial services are a drag. Paying bills sucks. Sorting through the best products is no fun, given how many there are and their considerable complexity. A mortgage? Forget it. Why is it that people can’t figure out how to make financial services interactions more fun? Doing so needn’t be a…
Where is Apple?
Fast Company’s cover this month provokes a story about, “the Apple of [name your industry].” Like any dutiful reader, I’ve been asking the question about my industry: what company delights its customers in the consumer finance industry? Who is the Apple for the un- and underbanked? I divide the industry…
In the Future…Delivering Wow!
This is part of a series of posts inspired by CFSI’s Underbanked Financial Services Forum. At the conference, attendees were asked to complete the sentence, “in the future, the underbanked marketplace will…” on a square button. By special guest, Ailian Gan If you heard the oohs and ahhs from the…
Bank Off, Bank On!
My CFSI colleague, Karen Andres, sent an email this morning about her local Detroit radio show, Drew and Mike in the Morning, on WRIF. “This is no NPR – beyond bawdy humor, uncomfortably hilarious interviews with innocent people, and hard rock. Controversial – this ain’t your mama’s radio station,” Karen…
In the Future… Transparency Rules
This is part of a series of posts inspired by CFSI’s Underbanked Financial Services Forum. At the conference, attendees were asked to complete the sentence, “in the future, the underbanked marketplace will…” on a square button. Clearly transparency in financial products is paramount, today and moving forward. And not just…
In the future… leaving for inspiration
This is part of a series of posts inspired by CFSI’s Underbanked Financial Services Forum. At the conference, attendees were asked to complete the sentence, “in the future, the underbanked marketplace will…” on a square button. By special guest, Ailian Gan If you are a relative newcomer to the financial…
In the Future… the Power of Goals
This is the first in a series of posts inspired by CFSI’s Underbanked Financial Services Forum. At the conference, attendees were asked to complete the sentence, “in the future, the underbanked marketplace will…” on a square button. I was struck by the power of goals and how different financial products…
WalMart vs GreenDot
Last week GreenDot’s IPO was rumored in question. It could be due to interchange changes or concentration risk. In either case, GreenDot’s relationship with WalMart is pivotal and not always aligned. First, interchange: Given GreenDot reports 30% of its income derives from interchange fees, the pro-retail pending interchange legislation might…
In the Future… Series
Last week around 600 industry leaders convened in Miami at CFSI’s 5th annual Underbanked Financial Services Forum. It was hot, and not just outside. CFSI’s founder and director, Jennifer Tescher, started the conference by inviting participants to complete the sentence, “in the future the underbanked marketplace will…” with a sharpie…