The Financial Services Industry Gives Back to Hurricane Sandy Victims

The Partnership for a Secure Financial Future has released its latest “I Am Financial Services” video. In this edition, financial services employees talk about what they have done to help the victims of Hurricane Sandy recover from the disaster.

In the video below, employees in the financial services industry were asked: What have you done, either personally or professionally, to assist the victims of Hurricane Sandy?

Trapped in an Elevator? Check Your Bank Balance

What could you do on a smartphone to avoid an awkward conversation in a stuck elevator?  Read email? Check Facebook or Twitter, perhaps?  Log on to your mobile banking app and check your balance or pay a bill? If you answered yes to the third option, you’re not alone.

Mobile banking is ingrained in our lifestyle; Juniper Research predicts that mobile banking users worldwide will reach 530 million by 2013. At the recent SourceMedia Mobile Banking & Commerce Conference, Intuit mobile leaders John Flora, Chris Battles and Omar Green dug into the topic and highlighted the challenges and opportunities for financial institutions as mobile goes mainstream.

Recent Intuit data shows that people who bank online – those signing in from a desktop computer – log in 10 times a month. When you add their mobile phone logins to the tally, the number increases to 18 times a month. That number expands further to 31 times per month, when you add logins from a tablet to the mix.

“Imagine all that you can do with that type of engagement,” said Flora.

Data will be the key to creating a more valuable experience for customers moving forward, particularly those highly engaged mobile banking customers.

“Go through the data you’ve been collecting for years and drive insights from that data back out to your customers,” Green said to the attendees.  “Give customers the ability to make smarter decisions about money.”

The ability to make these “smarter decisions” will be necessary to catapult mobile payments fully into the mainstream, the panelists said. Simply put, mobile payment providers will have to provide more value in the transaction. Each panelist offered their own bit of advice.

“Early adopters do it because it’s new and cool,” said Battles. “We have to provide more value in the transaction in order to see mass adoption. Provide intelligence about the transaction. For example, use this account instead of that account. Or, instead of paying with your debit card, use your credit card.”

“There are more than a dozen ways to pay now with a mobile device,” said Green. “Compare that to a piece of plastic with a mag stripe and you know we have a long way to go in mobile payments. If mobile payment solutions could help you or enable you to make smarter financial decisions, there would be value.”

“People trust their financial institution with the way they make payments. Think about how your customers adopted checks and then bill pay. Leverage that presence and trust,” said Flora.

The rebroadcast of the panel discussion is available below.

*This post originally appeared on the Intuit Network

About Heather Almand: When Heather Almand isn’t reading and writing about banking, she’s checking out the latest foodie blogs in hopes of finding recipes that will please the palate of her active family of four. You can also find her on Twitter at @FinanceWorks and @bankingdotcom.

Video: Turning Ordinary into Extraordinary

CeCe Morken, senior vice president and general manager of Intuit Financial Services recently presented the opening keynote at the Barlow Research National Client conference. This is the final part of the video series that we’ve been highlighting on Banking.com.

Video: Mobile and Social Can’t be Ignored

CeCe Morken, senior vice president and general manager of Intuit Financial Services recently presented the opening keynote at the Barlow Research National Client conference. This is part five of the video series.

Video: How Love Enters the Equation with Small Business

CeCe Morken, senior vice president and general manager of Intuit Financial Services recently presented the opening keynote at the Barlow Research National Client conference. This is part four of the video series.

Video: New Expectations for Customer Experience

CeCe Morken, senior vice president and general manager of Intuit Financial Services recently presented the opening keynote at the Barlow Research National Client conference. This is part three of the video series.

Video: Impact of Technology and Implications for Financial Institutions

CeCe Morken, senior vice president and general manager of Intuit Financial Services recently presented the opening keynote at the Barlow Research National Client conference. This is part two of the video series, and discusses implications of technology for financial institutions.

In this video, CeCe identifies and describes 5 key trends:
1. Nimble Entrepreneurs
2. Participatory Services Networks
3. Reputation Rules
4. Mass Data Control
5. Remote Genius

Watch the video below for the full details:

Video: Getting to Know Small Businesses

CeCe Morken, senior vice president and general manager of Intuit Financial Services recently presented the opening keynote at the Barlow Research National Client conference. We will be posting a series of videos from CeCe’s keynote, beginning with the one below on getting to know small businesses.

Lean Startup Lesson: Test Before you Build

Consider the cost of building a product only to find out that nobody wants it. Testing the hypothesis for a new product can save time and money. How to go about testing before a product is ever created is the topic of discussion for Eric Ries, author of The Lean Startup, and Intuit founder Scott Cook in this Lean Startup Lesson.

This is the eighth installment of a new series where Intuit leaders, including CEO Brad Smith, Founder Scott Cook and Vice President of Design Innovation Kaaren Hanson will sit down with author Eric Ries to expand on some of the themes in his best-selling book The Lean Startup.

For more information on Ries, go to http://theleanstartup.com/.

*Originally posted on the Intuit Network. You can watch more of the series here.

Lean Startup Lesson: Three Ways to Engineer Growth

There’s more than one way to grow a business. The tricky part for most startups is identifying one growth lever that works and specializing in that. In this interview Eric Ries, author of The Lean Startup, speaks to Intuit Vice President of Design Innovation Kaaren Hanson about three key ways that businesses can engineer growth.

This is the seventh installment of a new series where Intuit leaders, including CEO Brad Smith, Founder Scott Cook and Vice President of Design Innovation Kaaren Hanson will sit down with author Eric Ries to expand on some of the themes in his best-selling book The Lean Startup.

For more information on Ries, go to http://theleanstartup.com/.

*Originally posted on the Intuit Network. You can watch more of the series here.