Financial Services

Mobile Wallet: Consumers Are Hesitant, but for Different Reasons

I just searched the phrase “mobile wallet wars” in Google and it returned over 1.8 million results. Mobile wallet is officially buzzing. To be dubbed a war suggests a certain intensity as competitors make a mad rush for territory (a.k.a. consumers). A lot is being talked about in this realm, and action is being taken, too. Google teamed up with a few partners including Citi and MasterCard to introduce Google

How Google Is Changing the World… Again

Google. The name itself represents a powerhouse of change, innovation, and revolutionary ideas.  The Company is reinventing the way consumers interact with their products.  The release of a cloud based mobile payment system will change the face of the world and commerce as it is known today.  This will impact the world economy for the foreseeable future and will force vendors to re-evaluate and revamp their selling strategies.  The only

Capital One Credit Card Top of Mind

Like many people, I get regular mailings from Capital One asking me to sign up for a credit card.  The frequency makes them stand out in my mind if for nothing else than their persistence.  But given that analog marketing (like traditional mail) and digital marketing do not exist in vacuums, it makes one wonder about the connections.  To help investigate how the volume of Capital One traditional mail might

Mobile Intelligence: Where Mobile Adoption In Financial Services Stands Today

Image from Jakub Krechowicz/Shutterstock In our quarterly survey of approximately 1,200 financial product owners – Compete’s Mobile FS Intelligence survey – we seek to understand sentiment on the mobile channel across the banking, credit card, brokerage, and auto insurance industries. In this blog, I’ll share a little bit about where mobile adoption in financial services stands today. In terms of overall adoption, in Q2 2011 36% of financial service account

Are Early Adopters of Mobile Banking Satisfied?

When you follow the mobile wallet news, one of the first things you notice is that there is an enormous amount of investment in mobile banking services. It seems like banks and other financial services firms launch a new app every week. Even credit unions are in on the mobile action. Qualitatively, the investment seems disproportionate to the current adoption level. I can’t say I know anyone who uses mobile

What Does The LinkedIn IPO Imply About The Value of Facebook?

The recent IPO of LinkedIn clearly illustrated the public’s infatuation with all things social.  The company ultimately priced its IPO at $45 a share after raising the range due to high investor demand.  Within its first day of trading the stock reached a high of $122.69 leaving the company with a market cap of $11.6B!  The stock has retreated (closed at 75.91 on 6/8), but this still leaves the company

Consumers Weigh In on the Digital Wallet

Last week, search colossus Google announced that Google Wallet is in the works for the fall. With Google’s digital wallet, some shoppers will be able to use their smartphones as a credit card as well as cash. Just a few days before Google’s announcement, Bank of America, Wells Fargo, and JPMorgan Chase also announced a new mobile payments service that allows people to use their checking accounts to send a

Nothing is Certain, Except Death and Taxes and Online Marketing

For most of us, tax season has come and gone. But there’s no need to be sad. As the old adage goes, it’ll certainly be back. Though the season has closed, we wanted to look back at the performance of the key players in online tax filing because here at Compete, we are supremely interested in measuring competitive firms’ online effectiveness and digital marketing efforts. So though the season has

Competition is Cool for Consumers, Especially in Online Banking

Banking fees: I hate them. More and more of these fees are getting added onto my banking statement and it is bothersome. It’s getting difficult to find a bank that does not have some kind of fee associated with its banking products. However, one bank is making online banking easier and less costly for the customer, and doing so with restrictions placed upon it by the government. With Compete’s data

So This Gecko, Caveman, and a Woman Named Flo Walk into a Bar: Part II

Last week I took a look at the battle for online market share in auto insurance from a search perspective noting that GEICO and Progressive have successfully marketed their character-based advertisement campaigns online. They have also coupled their efforts with social media to significantly elevate their digital brand awareness. You don’t have to look any further than Facebook to see that over 2.5 million people have “liked” the Flo Progressive

Financial Services Firms on Facebook: We Like What We See

Financial services firms have gotten a bad name when it comes to their social media efforts. I did a quick search on “social media and financial services.” While my query generated 61 million results in less than a tenth of a second, the top-ranked perspective articles would have you (mistakenly) believe that financial services (FS) companies are failing at social customer relationship management. I’d like to present an alternative view