Social bank The banking industry is missing out on a huge opportunity to transform itself from a transactional model to an engagement model, writes social media strategist Jay Deragon on AlwaysOn.

“Think about what lies within the system of banking: people and businesses. Now, do banks do anything to “connect” people and businesses to facilitate transactions amongst and between people and businesses? When was the last time your bank actually helped you do the following:

  1. Solve a problem not having to do with a transaction
  2. Introduced you or your business to others who may need your product or service
  3. Provided you with new information or knowledge that helped you or your business be more productive
  4. Helped you or your business grow revenue, besides lending money for you to do it yourself
  5. Helped you find relevant and relative resources that you need

The answer to these questions is a bank simply doesn’t do any of these things, at least not consistently and as a regular part of their relations with customers.”

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Sente Nokia user researcher Jan Chipchase has posted an in-depth presentation and paper on designing mobile money services for emerging markets:

“Hang around a telecoms industry conference long enough and you start to get big-number fatigue – as one stack of seemingly impressive statistic blurs into the next. The numbers that have stuck with me over the years came from our research into the lives of the working illiterate: people who have jobs and want to keep them – spending time with people who work 16 hours days, 7 days a week with just a few days off per year is not uncommon. Who benefits more from the introduction of mobile money management services – a white-collar worker in New York City or a migrant manual labourer living out of a dormitory in Xi’an? For many access to mobile money services is a game-changer.

For practitioners working in this space (hei) the most useful section is likely to be on mobile phone practices and behaviours: covering mediated use from the perspective of customers; agents and the service providers themselves; charging; and multiple-SIM card practices.”

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