What If You Could Bank With Amazon? #fintech

Last time I wrote about how we could innovate with the credit card products.

This, and years of tolerating the awful banking experience which is Halifax/ Lloyds bank, made me think – what would the bank of my dream look like? And it came to me instantly – the Amazon bank.

Yes, as an avid user (Amazon woman? :)) I am biased. But still, think about it – what if you could bank with Amazon, or your bank could be more like Amazon?

Mind boggles!

If I had a credit card with the Amazon bank, I would expect a hi tech, personalised, no friction experience I get on Amazon. But what exactly would be different?

1) I would always know I’d get the best price and value – I would not need to research which bank offers better product. Amazon constantly price checks against alternatives and offers me the best value product.

2) I would have a credit card which would allow me to do what’s normally only possible with debit cards. I would be able to track spend real time, I would always know the split of spend by categories (on a granular level), I would be able to easily plan spend, eg set myself weekly spend limits – it would all make sense. Oh, and I would not really need the physical card, I would be able to pay with Amazon on all top online shops without even remembering my card number.

3) Online banking UX would be heavenly – simplified, streamlined, seamless. I would be able to email/ live chat Amazon Bank Customer Service, not that I’d need to though – I would be able to find all answers online and the product would be so straightforward that I would rarely have any questions in the first place.

4) I would have a Wish List in my online banking and browser, so I could easily bookmark (and plan for financially!) things I want to buy. In fact, because Amazon knows my shopping history, they’d help me save by informing me on the latest offers on products I usually buy and helping me save for bigger purchases.

5) My bank would truly know me – my communications, shopping and spending/ saving preferences and based on this data would offer me real time, relevant, valuable advice without pestering me for products I don’t need in order to drive profits which seem to be the only goal of the high street banks.

What else do you think would a bank like that offer you? Would you not love to bank with someone like this?.

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‘Hacking’ The Credit Card Product #fintech

I don’t use credit cards as much as I used to, and I have switched most of my spend to cash. Having worked for a credit card company and a number of banks, I learned to appreciate and use credit cards as a budgeting tool (I blogged about it here). Yet I have recently grown convinced that unless credit card products are brought in line with the times, they will face even higher competition from debit and cash.

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How To Make Ryan Gosling Work For You, For Free

When I saw this post on Linkedin, I was both overjoyed and taken by surprise. First, someone made it ok to share a picture of Ryan Gosling on Linkedin (now even my professional contacts know that I am on team Gosling big time), second, someone actually managed to write a business related post around it.

That someone is Shane Snow who immediately received a follow from me and a share for his post, due to sheer genius of what he has done.

Yes, the business value of the post – power of storytelling – is arguable, but it’s how bravely Shane has ventured into where no one has went before and how shamelessly he tapped into the zeitgeist that made the marketer in me smile and applaud at the same time. Bravo.

I can bet he earned quite some social capital after this post.

Don’t be afraid to ride the what’s trending wave but do it smartly so your readers smile at your cheekiness and follow/ share, not shrug and leave.

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Is Your Pension Money Destroying Your Children’s Future?

Pensions are complex financial products, as if intentionally designed to be so complex that we just hand over our money to pension funds and don’t ask what next. It used to be the case before the financial meltdown that many people had no idea what was going on with their pension money. Not the case anymore, as sadly so many lost their life savings, and pension fund managers’ reckless investment choices and abundant reward schemes came into a limelight. Continue reading

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Draught In California, Flooding In London, Apple Takes A Stand On Sustainability, And Making Stuff Out Of Emmissions

In today’s post I wanted to mention some of the top sustainability news that captured my attention.

Closest to home was a worrying but very realistic warning about risk of catastrophic flooding in London. Continue reading

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Getting The Facts Of The Story Right – Dissecting The Textbook Case Of A Hot McDonald’s Coffee Lawsuit

I saw this video by The New York Times suggested to me on Youtube, and I watched it with interest. It amazed me because it demonstrated how biased the story retelling can become in our society, how easy it is to bend facts and also because it reminded me that to know something well, you have to know all sides of the story. Continue reading

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What’s Next For This Blog

I must confess I was too busy with my personal blog lately – I took a daily blogging challenge by Hubspot and it did indeed prove to be a challenge! It did lead to more follows and likes, but I also learned that creating content daily and on time is not at all easy. I would definitely recommend businesses to do it though, as it does lead to better visibility.  Continue reading

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