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Preview: The Bankwatch

The Bankwatch

Tracking the consumer evolution of financial services

Last Build Date: Tue, 16 Jan 2018 04:25:57 +0000


Open Banking has arrived … what?Colin Henderson

Tue, 16 Jan 2018 04:23:06 +0000

The Independent notes the significant change that has crept up on us. Expect more in Canada methinks. This weekend a major change in the way banks manage your data takes place, one that could completely revolutionise how we bank, who owns our financial data and which companies can offer us targeted financial services. It’s called […]

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FaceBook finally gets smart and plans exit from newsColin Henderson

Tue, 16 Jan 2018 04:05:30 +0000

Good article in Medium about the long time coming shift from FaceBook. Here is how Zuck defended the move: “The research shows that when we use social media to connect with people we care about, it can be good for our well-being. We can feel more connected and less lonely, and that correlates with long […]

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Test Post 3 – finalColin Henderson

Mon, 27 Nov 2017 05:28:23 +0000

I have had the hardest time locating a blog tool for Mac. it has been a struggle for 5 years.  This is my latest try.  it has potential.  Cannot paste pics but able to use insert.

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Test post 2Colin Henderson

Mon, 27 Nov 2017 04:40:34 +0000

  added text

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Test postColin Henderson

Mon, 27 Nov 2017 04:31:10 +0000

  I am trying out a new blog tool.  Pls disregard.     lorum Ipsum test in quotes   bullets item 1  item 2 item n item test 2  

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Deutsche admits defeat on retaining large traditional branch networkColin Henderson

Tue, 07 Mar 2017 04:54:21 +0000

The turnaround from just yesterday from Deutsche is telling. One day they were to sell Postbank and today that idea is gone. In 2007 Postbank adherence to the branch concept was clear. No more. Finextra Deutsche Bank has abandoned plans to sell its consumer banking unit Postbank and will instead embark on a massive integration […]

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International agreements which guarantee certain economic minima to the world population – 1964 RandColin Henderson

Sat, 21 Jan 2017 05:40:08 +0000

Ben Evans has a post entitled “Asking the wrong questions” looks back at predictions from Rand. In particular a report from 1964 has several predictions, but this one, off the radar, caught my eye on the inaguration of Donald Trump. I am not going political here. Just looking at facts. Rand predicted automation would result […]

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“We are, in the simplest terms, a subscription-first business” NY TimesColin Henderson

Fri, 20 Jan 2017 03:43:40 +0000

With that statement the NY Times in a 2020 strategy statement prove they at least understand that the days of newspaper survival on advertising are gone. The final paragraph in the introduction has three telling actions still required: For The Times to become an even more attractive destination to readers — and to maintain and […]

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Facebook fake news is not newColin Henderson

Mon, 21 Nov 2016 06:33:59 +0000

This is the thin edge of the wedge that goes way deeper. Back in 2006 the Walmart fake marketing situation erupted. The basic theme goes back to the “on the internet nobody knows you are a dog”. You can say anything with conviction and supposed analysis and it must be true because it is there […]

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20 years of online bankingColin Henderson

Mon, 17 Oct 2016 03:56:40 +0000

Just a note of historical signifance. It was 20 years ago at BMO we launched mbanx, which was the first online banking site.

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DDoS attacks at unprecedented levels hit KrebsColin Henderson

Sun, 25 Sep 2016 05:05:33 +0000

DDoS attacks are little understood by most, yet pose a significant threat to our online lifestyle. Brian Krebs is an independent journalist who has singlehandedly sought out bad actors performing security attacks varying from online ransomeware to Mexican ABM card skimming. has been hit over the last couole of days with DDoS on a […]

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The Tragically Hip farewell concert in Kingston brings Canada to a standstillColin Hendersonhip_downie

Sun, 21 Aug 2016 04:37:21 +0000

Few outside Ontario Canada know about this.  I watched as the national broadcaster CBC showed it ad free.  This was up there with the Cream farewell at the Albert Hall. I admit to not even being a Hip fan.  They just were not that big in western Canada where I spent my early time.  […]

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Hong Kong-based Bitcoin exchange Bitfinex customers lose 120K BTCColin Henderson

Wed, 03 Aug 2016 05:35:00 +0000

Bitcoin reporting continues to be as vague as the average persons understanding of Blockchain. Nonetheless this loss will be closely followed. The last big loss was 2 years~ ago at MtGox in Japan, and that resulted in the exchange being shut down. Following MtGox closing in bankruptcy, here are the reasons according to Wired: But […]

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Bank customers move from online banking to mobile appsColin Henderson

Mon, 25 Jul 2016 07:48:08 +0000

The ongoing demise of online banking and its replacement by mobile banking continues. These statistics overshadow the almost 50% reduction trend in branch based transactions in UK that is expected to continue significantly to 2021. They also note this is not a reflection of bank disaffection; rather it is a shift in how customers interact […]

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Apple Pay accepted wherever Interac Flash is accepted, despite Apple’s own messagingColin HendersonmyWPEdit Image

Tue, 12 Jul 2016 09:28:55 +0000

I am glad it is not just me that was confused about Apple Pay in Canada and where it is accepted. Remind me not to read marketing messages and lemming blog posts again. Even the Apple page is confusing with their “Coming Soon” section, which I now assume must be referring to online Apple Pay […]

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Keshia Evans: symbol of US race problemsColin Hendersonbaton rouge

Tue, 12 Jul 2016 02:51:56 +0000

I have no way of knowing of any backstory on this pic from earlier today, but this has turned out today to be one of those pictures that just symbolizes everything in one moment.  “No words” as a good friend would say.

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2008 Banking reduxColin Henderson

Tue, 05 Jul 2016 23:52:15 +0000

This paragraph within an FT article tonight caught my attention. This is directly reminiscent of 2008 when a French Real Estate Fund froze redemptions. On Tuesday, the pound shed 2 per cent after a handful of large UK commercial property funds froze redemptions by clients, stoking concerns the fallout from last month’s vote in favour of leaving […]

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2007 reprise: Could FaceBook risk becoming another AOL?Colin HendersonmyWPEdit Image

Wed, 29 Jun 2016 20:52:11 +0000

Here is something I wrote in 2007. (Could Facebook Risk becoming another AOL). The context was different, ok, a lot different given that is 9 years ago and I was thinking about Lending Club who were only available within FaceBook, but I believe the conclusion stands. In fact the reality that has shown the shifts […]

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ChatUI and NLP as next generation interfacesColin Henderson

Mon, 13 Jun 2016 09:29:28 +0000

It seems to be that time again where we are on the cusp of a shift in internet behaviours and platforms. I have been noting themes in my reading over the past few months, and two recent pieces in particular solidified them for me. Mary Meeker report, State of the Internet that I referred to […]

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Mary Meeker annual State of the InternetColin HendersonmyWPEdit Image

Tue, 07 Jun 2016 23:41:45 +0000

The Mary Meeker annual report is always fascinating and full of facts for the wonks amongst us. This particular slide pasted below from the 2016 report is one of the better I have seen at quickly summarizing the large generations and their value differences; in particular the financial view of the world which is very […]

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Move 37 | Implications for progress on Artificial IntelligenceColin Henderson

Mon, 23 May 2016 14:23:01 +0000

I watch and listed to Google I/O today. The stuff about the new communications app Allo and new emojis was a bit underwhelming but I sensed a deliberate shift under the guidance of SEO Pinchai towards commercialization with the likes of Google Home coming this year. This is going right after the Amazon Echo market, […]

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Apple Pay at Tim Hortons in CanadaColin Henderson

Wed, 18 May 2016 13:01:30 +0000

I just made my first Apple Pay transaction at Tim Hortons in Toronto. Very smooth – double press the home button on your locked phone. This has the double effect of unlocking the iPhone, and activating Passbook. Then simply hold over the merchant device to pay. Despite the naysayers, it is actually easier than debit […]

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RBC and CIBC add debit and credit cards to Apple Wallet in CanadaColin HendersonmyWPEdit Image

Tue, 10 May 2016 21:24:21 +0000

I was pleasantly surprised after a long wait to see RBC add debit and credit card functionality to Apply Pay today. I had lost touch with the Big 5 Canadian Banks efforts to develop a co-ordinated front on Apple Pay but I see now that they must have agreed on something. They are deploying on […]

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P2P Lending is in troubleColin Henderson

Wed, 04 May 2016 23:15:34 +0000

P2P Lending held out as a great opportunity to disrupt banking … back in 2006. I was with CommunityLend then, and the opportunity seemed endless. Since then the Canadian regulation stopped P2P lending in Canada. Meanwhile in the rest of the world the market moved from P2P to “Institutional Lender”2P. Now the Institutional Lender market […]

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World Retail Banking Report – 2016 (Capgemini and Efma)Colin Henderson

Tue, 19 Apr 2016 15:23:18 +0000

Their annual report is out now. Some useful country specific information regarding customers experience level and feelings about their banks. Capgemini and Efma today released the findings of their annual World Retail Banking Report (WRBR) 2016. The report reveals that fintech providers are making increasingly significant inroads with customers – two thirds of customers are […]

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India launches ubiquitous mobile banking infrastructureColin Henderson

Sun, 17 Apr 2016 19:46:40 +0000

The United Payment Interface (UPI) launches commercially in India on Monday 18th, April, 2016. The first step was the launch of a national biometric identification system. This first step has met with apparent resounding success. Bloomberg So far, India’s attempt to assign every citizen a unique 12-digit number associated with a person’s unique iris, fingerprint […]

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Experimenting with myWPEditColin Henderson

Sat, 16 Apr 2016 19:02:09 +0000

I have tried various blog posting apps for OSX with most being quite hopeless to date. Windows bog posting apps are streets ahead. I haven’t had time recently to research more. However today I came across this one which seems to address all the requirements, even though the interface is at best average. It does […]

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“TD Bank Launches Real-time Money Management App” – TechvibesColin Henderson

Sat, 16 Apr 2016 18:52:16 +0000

TD have rolled out the result of their partnership with Moven. The reference to a “first in Canadian Banking” is a bit of a stretch given spending analysis capabilities that BMO and RBC have, unless the ‘first’ refers to deployment as an app. It seems that it runs as a separate app to the regular […]

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Ray Tomlinson – inventor of email died todayColin Henderson

Mon, 07 Mar 2016 05:16:08 +0000

Raymond Tomlinson, the godfather of email, died Saturday morning of a suspected heart attack. He was 74. Read more:
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SIBOS: What is Banks’ role in identityColin Henderson

Wed, 14 Oct 2015 04:08:25 +0000

SIBOS is an interesting meeting each year where the lemmings look for the cliff to race off to. I don’t say that with animosity but with reality where we have several thousand largely paid employees who are tired of the daily payment grind, and looking for clarity on whats next. So when the senior folks […]

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Rackspace shift to managed services supporting AmazonColin Henderson

Thu, 08 Oct 2015 00:12:35 +0000

This is an big development in the cloud space that portends the obvious; Amazon have the cloud space well cornered. Microsoft (Azure/ Live/ OneDrive/ latest nom de jour – I have seriously lost track on their latest name) are giving it a shot but the retail/ B2B/ new corporate cloud space is owned by Amazon […]

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Why do we need cash?Colin Henderson

Wed, 07 Oct 2015 02:29:20 +0000

Just in case you thought the world financial system was rational, then in fact you are correct. Rational thought for protection of the world financial system during the next crisis is to eliminate the problem caused by cash. Now this might seem an extreme view of the world, but lets not forget Andy Haldane of […]

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Digital Finance Toronto 2015 – some notes @dfi2015Colin Henderson

Wed, 30 Sep 2015 16:47:20 +0000

Digital Finance conference in Toronto. Two panels today with very different perspectives and fascinating to observe: first panel was very focussed on the regulatory environment, and was very focussed on the problems that fintech has with regulators. There was a thread of unbanked and underserved. In general this panel struck me as close to lobbyists […]

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Tomorrows Transactions – final thoughts – #TTTU2015Colin Henderson

Tue, 08 Sep 2015 22:59:12 +0000

@dgwbirch @debgamble1 Some personal and final payments takeaways from todays unconference in Toronto: Canada is Canadian – conservative and sees the status quo as a barrier to change Common agreement that what is needed is real time and cheap payments (P2P, P2B, B2B) How and why this should happen gets fuzzy for most Canada has […]

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Bank as a platform – not in Canada apparentlyColin Henderson

Tue, 08 Sep 2015 22:19:07 +0000

@dgwbirch: Most notable difference between UK Unconference and Canadian one was lack of discussion around APIs, big part of London event #TTTU2015

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Glass Bank and the evolution of transparency – 1931Colin Henderson

Tue, 08 Sep 2015 21:01:24 +0000

#TTTU2015 Dave comes up with the darndest examples to make his point and these are frequently brilliant. This from Modern Mechanics, August 1931 was a new concept – a glass bank. Apparently in the 1930’s bank robberies were a serious problem. Architect Keally developed the concept of a glass bank. The idea was that if […]

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Tomorrows Transactions – blockchain #TTTU2015Colin Henderson

Tue, 08 Sep 2015 20:53:45 +0000

Dave discussed potential uses of blockchain. There are 5 examples, and only 4 have potential. I will leave you to debate/ figure out 🙂 It was equally fascinating to listen to Dave and also to be dumbfounded with the initial lack of audience interest. Once we got into discussion that changed. It turns out there […]

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The original Apple Watch – @dgwbirchColin Henderson

Tue, 08 Sep 2015 19:46:25 +0000

@dgwbirch – The original Apple Watch from 1930’s – scrolling map on wrist #TTTU2015 moving through the hub of innovation – Guildford

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Tomorrows Transactions – Toronto Sept 8th #TTTU2015Colin Henderson

Tue, 08 Sep 2015 14:24:09 +0000

Dave is telling us to complete the post it notes. He points out that the post it notes are in fact not a blockchain. Let the humour begin.

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