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As a technology partner to various banks and having participated in many steering committees of transaction banking businesses of leading banks, I'm inclined to agree with Geoff's views.

There's a whole lot of 'product' mindset in banks, which is very good to keep the 'lights on', but creating new revenue streams from transaction banking data calls for a 'solution' mindset.  

I have come across a relationship manager at a Top 5 UK bank sensing strong potental to earn incremental revenues by offering hourly account balance insight to their corporate clients. But, they have been shooed away by their operations and IT citing that too much change would be required to their existing systems to fulfill this need. Can't say I blame the ops or IT departments because their first priority is to keep the shop running smoothly, so it's not hard to understand their "why fix it if ain't broken" attitudes.

I think this impasse can be broken by technology vendors partnering with transaction banking businesses of banks in order to create point solutions and taking them to market jointly.

Similar Generation Y Payment Providers like BOKU and ZONG, to name a few, face stiff barriers to widespread adoption of their payment methods because mobile network operators retain as much as 40-50% of the transaction value as their fees. It would be interesting to learn GoPayForIt's plans to tackle this problem.