Latest opinions that Brett King has shared on Finextra

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Brett King

CEO & Founder

Moven

Member since

14 Apr 2010

Location

New York

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Brett's opinions

Why the iPhone 5 means the end of the swipe and cards

It took almost two decades for credit card payments (followed by debit cards) to become globally ubiquitous, so it might be reasonable to think that a paradigm shift at the POS will take years to become mainstream. Why would you spend money deploying expensive NFC-enabled (Near Field Communication) POS terminals unless consumers were going to use ...

26 September 2012 /payments Innovation in Financial Services

What does Square plus Starbucks mean for US payments?

Square and Starbucks just announced their intent to form a partnership for the purpose of improving or 'revolutionizing' in-store payments around the approximately 1,700 retail stores and 5,000 points of presence in the USA. Square has had phenomenal success growing their merchant base to 2 million users in just over 2 years, which when taken in t...

08 August 2012 /payments Innovation in Financial Services

Can the banking industry re-engineer trust in the system?

I grew up in a world where a run on the ‘bank’ was never realistically going to happen. I grew up in a world where when someone wished to declare the truthfulness of their assertion they’d simply say “you can take that to the bank” or when it was a sure thing they’d say “you can bank on it!” I grew up in a world where the government ‘guaranteed’ m...

01 August 2012 /regulation /retail Finance 2.0

Facebook Credits gone, but banks need FB more than ever

It was announced yesterday that Facebook is going to start phasing out their Facebook Credits system. If you've been watching my commentary over the last few years, I had entertained Facebook becoming a sort of default currency for the web because of the platform's ubiquity. However, like many things online, users and developers collaborated to cr...

21 June 2012 /payments Innovation in Financial Services

Does a banking license provide an exclusive on banking?

Clearly, to be a deposit taking bank and offer products like Mortgages, loans, savings accounts and so forth, it would be easier to have a bank charter. However, today the lines between banks and non-banks offering financial services is blurring faster than speculative investors dumping shares for Facebook. There are many types of ‘banks’ or organ...

04 June 2012 /retail Innovation in Financial Services

Bye-bye Checking and Current Account

I've been recently debating with bankers and credit union executives on the core banking proposition they offer to new prospects. One of the realizations that led me to this was some recent research released by Aite Group around the 'debanked' generation (Feb, 2012). In March 2011, I released a YouTube Video discussing the same segment of customer...

29 May 2012 /payments /retail Finance 2.0

Mobile payments already exceed cheques

If you believe the pundits, mobile payments are years away from being mainstream. But that’s not at all an accurate assessment of the state of the industry. Firstly, a mobile payment can be many things. There are seven primary models for mobile-enabled payments: SMS based transactional payments In-App Payments Direct Mobile Billing Mobile commerce...

18 May 2012 /payments Finance 2.0

NextBankAsia - Challenging the Status Quo

Today in Singapore we've had a gathering of a collection of real innovators and disruptors in the financial services and customer experience space. The line up at#NextBankAsia was a bunch of strong influencers in the space including: Scott Anthony @scottdanthony James Gardner @bankervision Richard Kelly and Andrea Kershaw from @IDEO Neil Cross fr...

09 May 2012 /retail Innovation in Financial Services

An orderly transition to the new branch state

I guess with a title like 'Branch Today, Gone Tomorrow' it's no surprise that a lot of people think I'm anti-branch. I'm not anti-branch, I just don't drink from the branch kool-aid fountain that goes something like "if only we could find the right formula we'd reverse this trend of not visiting the branch and customers would flock back to ou...

04 May 2012 /retail Innovation in Financial Services

Movenbank yields to pressure and opens their first branch

In response to the strong demand for us to compete with the main street branch players, our recent efforts at crowdsourcing our business model has led us to investigate a revolutionary new form of branch for the US and UK markets. The new branches which we at Movenbank simply call ‘the space’ is designed to give our rapidly growing customer base t...

01 April 2012 /payments /retail Innovation in Financial Services

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