This is the March 2009 edition of the Luckie & Company produced Banking Trend Tracker newsletter. It is a quick topical snapshot of general trends, social media and traditional advertising in the financial services marketplace for March.
This is the March 2009 edition of the Luckie & Company produced Banking Trend Tracker newsletter. It is a quick topical snapshot of general trends, social media and traditional advertising in the financial services marketplace for March.
This is the March 2009 edition of the Luckie & Company produced Banking Trend Tracker newsletter. It is a quick topical snapshot of general trends, social media and traditional advertising in the financial services marketplace for March.
ane
TREND TRAG
MARCH 13, 2008 WONGA OFFERS ONLINE, ON-DEMAND MICROLOANS IN THE U.K.
~ ~ VOLUME 5 ://: ISSUE 3
Wonga a company in Great Britain, has launched a new microloan
program that allows users to apply for instant loans of 250-200, repayable
within 30 days.
The offering is unique in two ways. First, the user
interface offers an instant snapshot of what the
loan amount will be, what the term of the loan will
be and what the repayment will be including
interest. Second, Wonga is rewarding good
customers with merit points that can be used in
future loans to get more favorable terms.
Wonga takes the concept of microloans out of its usual context — peer-to-
peer loans typically offered from people in developed countries to
borrowers in emerging ones — and puts it into a local" banking-consumer
relationship.
Even though most consumers are turning to cash and debit cards, there is
RAZA ANE anes Sua nocd each oe manages sans
Transparency of terms is a key best practice, and Wonga amps it with an
Gan Bankit is aWeb site, easy-to-navigate application process and ‘calculator. Plus, rewarding
from Brazilian Banco ltau successful borrowers with premium terms will keep them coming back.
that tries to teach the
younger members of Gen Y
how to save some money or,
Source: Iconoculture
atleast, to spenditina BANK TARGETS GEN Y WITH SOCIAL NETWORKING SAVINGS ACCOUNT
eae leg An eine barking group has managed to combine nance and social
networking by allowing users to display their savings goals and status on
Forcxampl tasks how their Facebook or MySpace pages.
many minutes do you spen Us beset .
ne -based SmartyPig has teamed up with Australia's ANZ to deliver what
on your mobile every day’ it calls a “virtual bank account," into which the family and friends of users
‘Then responds by saying
rcgyou knew thetiseeae can also contribute money through the Facebook widget.
the costs of your calls could ‘SmartyPig users flag savings goals in their account of a certain amount.
help you save enough ‘The user can then choose to redeem the saved cash plus interest or put
money to buy a laptop?” the money into a gift card to be used at any store of an ANZ retail partner.
The ANZ retail partners will also give an extra 6% if the user transfers
money into a gift card
‘ANZ general manager of deposits, Mandy Simpson, says the new venture
is targeting Generation-Y in an attempt to teach financial responsibility and
promote savings, rather than further their reliance on credit. “a big part of
this is the social banking side — you can go public with it, and you can
share your goal with family and friends.”
Source: SmartCompany.com
Source: Adverblog
LUCKIE & COMPANY 600 vont re Bia
sc Wen’ Re
Le ‘ aSAVE TO WIN GAME
LAUNCHES AT EIGHT
MICHIGAN CREDIT UNIONS:
Led by the Filene Research
Institute, Save to Win ust
launchedat eight Michigan
credit unions in a pilot
project testing consumer
response to prize-linked
savings.
New and existing members
‘compete for monthly and
grand prizes by making
deposits into one-year,
federally insured certificate
accounts. At the end of the
pilot, one member will take
home the $100,000 grand
prize, while others share
‘$40,000 in monthly cash
prizes,
To encourage savings,
account holders ear an
entry with each $25 deposit,
Up to 10 entries per month,
‘One emergency withdrawal
is allowed during the
certificate’s term, but if the
depositor closes the
account, all entries are void,
‘Source: Filene.org
DISCOVER INTRODUCES BIODEGRADABLE CARD
Discover Financial Services recently launched a Now hfadegradable
biodegradable Discover Card option the only
US. biodegradable consumer creditcard -
currently avaliable inthe marketplace. ‘The DiscyveR
biodegradable Discover Card is made of
biodegradable PVC, a substance that allows
199% of the card plastic to be safely absorbed
when exposed to landfill conditions.
The card plastic will begin to break down in soil, water, compost or
wherever microorganisms are present; with it fully degrading within five
years. The biodegradable card can be identified by the biodegradable
‘symbol that will be visible on the back of the card,
“The biodegradable Discover Card is another way for environmentally
conscious consumers to do their part to help protect our planet,” said Kelly
Tufts, director of marketing at Discover.
‘Source: FierceFinance.com
FEED THE PIG PSA CAMPAIGN ENCOURAGES SAVINGS
In January billboards and broadcast commercials TE
suddenly popped up all over the U.S. urging 7
citizens to “feed the pig.” The campaign features
a talking pig in a pink suit coat. His name is
Benjamin, and he has a disturbing slot in his
head, to which he points and intones, “Feed me!”
The Ad Council and the American Institute of
Certified Public Accountants are behind the effort
with the point being to encourage Americans to
learn how to save more,
Coincidentally, the nation of Finland has launched a competing campaign
that shows an evil piggy bank with devil's horns. The evil pig urges, “Don't
feed the recession,” arguing that economic malaise will continue if people
dont begin to spend more freely.
Everyone, at least everyone in the U.S., seems to be jumping on the thrift
bandwagon. The U.S. Treasury, the National Endowment for Financial
Literacy and now the American Institute of Certified Public Accountants
have all launched public education campaigns to urge consumers to learn
more about managing their personal finances, protecting their credit
ratings, and saving more than they spend,
Source: Iconoculture,
EASE CONTACT
‘S@LUCKIE.COM
‘ FOR MORE INFORM!
=> avid) STUTTS AT DAV.ING BANK LAUNCHES NEXT
GEN ATM FINDER FOR MOBILE
PHONES
ING has created an
application for the Google
Phone that allows users to
find the nearest ATM.
Making good use of the
phone's internal GPS and its
‘camera, the application
‘converts the phone into a
‘compass. So looking down
the street through the
soreens of their phones,
users get pointed lterally to
the right location in real time,
The application is called ING
Weawiizer, and it's available
for free through Google's
‘Android Market. Right now,
though, it’s limited to the T-
Mobile G1 phone and ING
bank's home stomping
‘grounds — the Netherlands
“Augmented reality” may
well form the core of Web
3.0, as more and more
applications are developed
for mobile phones and other
PDAs,
Source: Iconoculture
PNG LAUNCHES IPHONE MOBILE BANKING APP
You'd think that seven months after Apple launched the App Store for the
iPhone, it would no longer be news when a U.S. bank adds an application
to the store. But it is news since the addition of PNC Bank brings the grand
total of bank-specific apps to four, five if you count PayPal. Even if you
include the several dozen banks supported by Firethorn’s mult-bank app,
there are still no more than 40 banks supported, Here are the five App
Store participants in order of their appearance:
* Bank of America and PayPal were both in the App Store when it first
‘opened in July 2008
+ IBC Banklaunched in September 2008
* Chase Bank launched December 2008
* PNC Bank launched late January 2009
‘* Wells Fargo has an iPhone app that's not yet shown up in the App
Store
‘Along with balance and transaction activity, the PNC app includes bill pay,
funds transferand an ATM finder with location-based capabilities.
‘Source: Netbanker.com
MICROLENDER’S NEW YORK SUCCESS LEADS TO EXPANSION PLANS
Nobel Peace Prize winner Muhammad Yunus is expanding
his New York state-based Grameen America microl
to other parts of the US.
The institution has lent $1.2 milion to 440 setf-employed,
low-income women (with a 99.5% repayment rate) since its
‘opening in November 2007. Grameen America plans to
expand to North Carolina, New Jersey, Nebraska,
Louisiana and other U.S. states.
Unlike typical lending institutions, Grameen America lends to those who do
not have collateral. More than 70% of the borrowers are Latino. Bad credit,
low incomes and lack of collateral have made it difficult for Latinos and
other minorities to get traditional business loans. Grameen America's
mmicro-lending formula can help recession-racked families escape poverty.
By offering small lines of credt, Grameen gives lenders a greater return on.
their investment with a smaller amount of risk. Minorities tend to be
reluctant to borrow from banks. Micro-lending does not saddle borrowers
with large debt and the small business success rate builds hope in
depressed communities.
‘Source: lconoculture
EASE CONTACT
ORM
Shun SOLUCKIECOM,
+> pavip STUTTS AT DAMD