recentpopularlog in

Copy this bookmark:





to read

bookmark detail

Consumer banking: Counter revolution
May 19th 2012 | | The Economist | Anonymous

the growth of internet usage on smartphones, the rise of “big data” computer processing and the increasing willingness of customers to do complicated things online. These developments have long promised to transform the way banks do business and organise themselves....If this was just a more convenient way of paying, the banks would probably shrug. But it also promises to overturn your existing financial relationships. Instead of reaching for the first card that happens to be in your wallet to pay for a $2 cup of coffee (and risk being charged a $35 penalty by your bank for exceeding your overdraft limit), your phone will choose the best method of payment.
banking  disruption  massive_data_sets  Google  judgment  Paypal  Square  smartphones  data_mining  immigrants  migrants  remittances  mobile_phones 
may 2012 by jerryking
view in context