New research from Mercator Advisory Group examines changes in retail banking
services and innovations with the potential to disrupt the market
Boston, MA -- Banking is no longer a passive art but is instead being
transformed into an interactive, real-time relationship. In a new report,
‘Banking 2.0: Innovation, Disruption, and the Better Idea’, Mercator Advisory Group examines the next generation of retail banking deposit-based products.
This report considers the changes occurring in retail banking services through
the prism of existing direct banks and new market entrants that are building
consumer-centric services on cutting-edge platforms. Findings from interviews
with leaders in three of these new Banking 2.0 solutions illustrate the extent
to which these companies are investing in their vision of what the next
generation of financial services should look like.
"Twenty years ago, the battle to fix banking services was more of a "David vs.
Goliath" story weighted toward Goliath, but as strategies like Square have
demonstrated, slingshots are hitting their mark. As a result, legacy
organization executives sit on start-up boards, are making investments in new
technologies, and even the smallest financial institution wants to know what's
next for banking because it is understood at all these levels that the shift
has already taken place," comments Patricia Hewitt, Director of Mercator
Advisory Group's Debit Advisory Service and author of the report.
Major highlights of this report include:
Profiles of three leading Banking 2.0 strategies based on interviews with
executives of PerkStreet Financial, Movenbank, and SmarterBank
A discussion of the disruptive entry points to the retail banking market and
services designed to meet these targets
A look at the way innovation is driving investments and the risk they present
to legacy financial institutions
Summary of the barriers inherent in competing against existing institutions,
how niche banks have created a new market for distributed, white- label
services, and how innovators compare to existing direct bank models
One of nine exhibits in this report:
Source: Mercator Advisory Group
This report is 24 pages long and has nine exhibits.
Entities mentioned in this report include: Movenbank, PerkStreet Financial,
Walmart, Bancorp Bank, USAA, Charles Schwab, Ally Bank, SmarterBank, ING
Direct, and Occupy Wall Street.
About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory
services firm exclusively focused on the payments and banking industries. We
deliver pragmatic and timely research and advice designed to help our clients
uncover the most lucrative opportunities to maximize revenue growth and
contain costs. Our clients range from the world's largest payment issuers,
acquirers, processors, merchants and associations to leading technology
providers and investors.
Table of Contents
Unbanks, Antibanks, and Nonbanks: A Brief History
Market Entry Points
- The Liquidity Challenge
- Deposits vs. Reload
The Bank Part of Banking 2.0
- The Opportunity for Private Label
- Real Banks, Really Trying to Be Different
Let the Innovation Begin
- PerkStreet Financial
- Occupy Wall Street (OWS)
A Transformation by Degrees
Figures and Tables
- Figure 1: Banking 2.0 Entry Points into the Traditional Market
- Figure 2: Largest Direct Banks in U.S. by Deposits
- Figure 3: Bancorp Bank's Non-Interest Income, 2009 - 2011
- Figure 4: PerkStreet Financial's Strategy Evolution
- Figure 5: SmarterBank's Launch Strategy Potential
- Figure 6: Score Models: FICO vs. Movenbank Cred
- Figure 7: How to Transform Banking v.1 to Banking 2.0
- Table 1: Top Direct Banks' Deposit Services: Comparison
- Table 2: Leading Prepaid Card Issuers with Sample of Reload Network
Banking 2.0: Innovation, Disruption, and the Better Idea published by Mercator Advisory Group, Inc. in June 19, 2012. This report consists of 24 pages and the price starts from US $ 2950.