Social Finance In Banking

Chris Skinner
www.thefinanser.com

©Chris Skinner. All rights reserved.

2

The times, they are changing

1959 1969 1979

2009

1989 1999


AAMOF - As A Matter Of IAE- In Any Event POS - Parent Over Shoulder
AAR - At Any Rate IANAL- I Am Not A Lawyer POV - Point Of View
AFAIAA - As Far As I Am Aware IIUC - If I Understand Correctly RSN - Real Soon Now
AFK - Away From Keyboard IMHO - In My Humble Opinion SCNR - Sorry, Could Not Resist
AIUI - As I Understand It IMNSHO - In My Not So Humble Opinion SETE- Smiling Ear To Ear
B4 - Before IOW - In Other Words SITD - Still In The Dark
BFN - Bye For Now IRL- In Real Life. TIA - Thanks In Advance
BRB - Be Right Back ISTM - It Seems To Me TLA - Three Letter Acronym
BTDT - Been There, Done That ISTR - I Seem To Recall TPTB- The Powers That Be
BTW - By The Way IYSWIM - If You See What I Mean TTBOMK - To The Best Of My
CID- Crying In Disgrace. JFTR - Just For The Record Knowledge
CNP- Continued in Next Post. JMO- Just My Opinion. TTFN - Ta Ta For Now
CUL - See You Later KIT- Keep In Touch TTYL - Talk To You Later
DIY- Do It Yourself KUTGW- Keep Up The Good Work WRT - With Regard To
DYJHIW - Don't You Just Hate It When L8R- Later. WTB- Want To Buy
EG- Evil Grin. LMK-.Let Me Know WTH - What The Heck?
FLA - Four Letter Acronym LOL - Laughing Out Loud YA - Yet Another
FWIW - For What It's Worth LZR- Loser! YHGMTPOTG - You Have Greatly
FYEO - For Your Eyes Only MMF- Make Money Fast Misunderstood The Purpose Of This
FYI - For Your Information OIC- Oh, I See Group
GMTA- Great Minds Think Alike OTOH - On The Other Hand YMBJ - You Must Be Joking
HAGN- Have A Good Nite. PLZ- Please YMHMYFAIOA - You May Have Mistaken
HAND - Have A Nice Day PMFJI -Pardon Me For Jumping In Yourself For An Inventor Of Acronyms

4

@ At MSG Message W With
ATB All The Best NE Any W/O Without
B Be or Bee NETHNG Anything WKND Weekend
BCNU I’ll Be Seeing You NE1 Anyone XLNT Excellent
BWD Backward NO1 No-One XOXOX Hugs and Kisses
B4 Before OIC Oh, I See YR Your
C See or Sea PCM Please Call Me 1 One or Won
CU See You PLS Please 2 Too or To or Two
DOIN Doing PPL People 2DAY Today
F2T Free To Talk RUOK Are You Okay? 2MORO Tomorrow
FWD Forward RGDS Regards 2NITE Tonight
GONNA Going To SUM1 Someone 3SUM Threesome
GR8 Great STRA Stray 4 For or Four
H8 Hate THNQ Thank You :-) I’m Happy
L8 Late THX Thanks :-o I’m Surprised
L8R Later U You :-( I’m Sad
LUV Love UR You Are d:) Baseball Cap
MOB Mobile WAN2 Want To? :-/ Confused


emoticons


7

Population of Earth: 6,676,120,288
Not an internet presentation,
Internet Users, Q2 2008: 1,463,632,361
Internet Users, Q4 2000: 360,985,492
but … Mobile Users, Q2 2008: 3, 352,237,974


The new world order

• Social Chat, 2000-today
– SMS text messages
– Instant Messaging
– Chatrooms
– Status updates
– Twitter


The new world order

• Social Media, 2003-today
– Blogs
– YouTube
– Podcasting
– Flickr


The new world order

• Social Worlds, 2004-today
– There
– Second Life
– Gaia
– Habbo Hotel
– Entropia
– Utherverse


The new world order

• Social Networking, 2005-today
– Facebook
– MySpace
– Bebo
– Badoo
– Cyworld
– QQ
– Mixi


The new world order

• Social Networking, 2005-today
• Social Finance, 2005 …
– Zopa
– SmartyPig
– Join2Grow
– Stagecoach Island
– Our Virtual Holland


The Social Phenomena

Courtesy of Kameran Ahari, Napa Consulting Group


2008 Technorati report

http://technorati.com/blogging/state-of-the-blogosphere//

The Inspiration

The average consumer has more reach online than ever before


March 2006


http://blog.wellsfargo.com/


Integrate with core branding
www.wellsfargo.com/centerstage


The Latest:
Someday Stories

• Contemporizes the essay contest
by encouraging participants to
share their Someday story

• Five stories selected for $10,000
first prize, delivered via Wells
Fargo Stagecoach

• Five first prize winners filmed and
be eligible to win the Grand Prize
of $100,000

• Consumers voting in a video
contest format for the $100,000
www.wellsfargo.com/somedaystories

©Chris Skinner. All rights reserved. 24

Someday Stories


126 channels in 19 countries


Social Networking
Age 15+ - Home and Work Locations

Region Unique Visitors Unique Visitors Percentage
June 2007 June 2008 change
Worldwide 464.4 million 580.5 million 25%
Asia Pacific 162.7 million 200.6 million 23%
Europe 122.5 million 165.3 million 35%
North America 120.8 million 131.3 million 9%
Latin America 40.1 million 53.2 million 33%
Middle East -
18.2 million 30.2 million 66%
Africa

Source: comScore World Metrix, August
2008


Social Networking
Age 15+ - Home and Work Locations

Website Unique Visitors Unique Visitors Percentage
June 2007 June 2008 change
Total Internet :
778.3 million 860.5 million 11%
Total Audience
Social Networking 464.4 million 580.5 million 25%

FACEBOOK.COM 52.2 million 132.1 million 153%

MYSPACE.COM 114.1 million 117.6 million 3%

HI5.COM 28.2 million 56.4 million 100%

FRIENDSTER.COM 24.7 million 37.1 million 50%

Orkut 24.1 million 34.0 million 41%

BEBO.COM 18.2 million 24.0 million 32%

Skyrock Network 17.6 million 21.0 million 19%

Source: comScore World Metrix, August
2008 ©Chris Skinner. All rights reserved.

Age distribution of UK social
network users


Finland
4.7hrs/mth
Canada UK Russia
5.6 hrs/mth 4.6hrs/mth Germany 6.6 hrs/mth
4.2hrs/mth
USA Spain
4.2hrs/mth 5.3 hrs/mth

Puerto Rico
5.3 hrs/mth

Brazil
6.3 hrs/mth

Of the 1.1 billion people age 15 and older worldwide who accessed the Internet from a home or work location
in May 2009, 734.2 million visited at least one social networking site during the month, representing a
penetration of 65 percent of the worldwide internet audience.
Comscore Press Release, June 2nd 2009
http://www.comscore.com/Press_Events/Press_Releases/2009/7/Russia_has_World_s_Most_Engaged_Social_Networking_Audience

Bob Blower (bob_blower@hotmail.com);
bobblower@hsbc.com


Many worlds out there


Webkare


Avatars


It’s a very, very … mad world


56

Virtual Q110 closely reflects reality

Branding Architecture People


The Rise and Fall and Rise of
Second Life

October 2006
Total Residents 1,211,392
Residents Logged-In November 7, 2008
During Last 60 Days 502,733
Residents Logged-In
During Last 60 Days 1,287,651
March 2007
Residents Logged-In
During Last 60 Days 1,601,788 July 4, 2009

Residents Logged-In
August 2007
Residents Logged-In

©Chris Skinner +44 790 586 2270 Skinner. Allchris.skinner@fsclub.co.uk
©Chris rights reserved.

The language of QQ

http://thechinaobserver.com/2008/12/an-introduction-to-virtual-currency-in-china/

The banning of QQ

http://www.nytimes.com/2009/07/01/technology/internet/01yuan.html?_r=1&ref=business

Some get it …

ANZ's CEO Brian Hartzer on why he Twitters:
"There’s no doubt that social networking is not only growing in
take-up, but in importance as a channel. Twitter is unlike any
other social media vehicle because its immediate, honest and
no-nonsense environment really allows you to feel the pulse of
the community."


Folks, this is my last tweet as
I've resigned to pursue an
overseas opportunity. Thanks
for your continued support
for ANZ. All the best.
5th May 2009


http://www.getgrowingforbusiness.com/


Social Lending is already global
Expect proliferation, niches developing, consolidation


SmartyPig

• SmartyPig one of the
first real banking
applications that is truly
social.
• It is like an online piggy
bank, where you save
money for specific goals.
• First banking application
that allows friends and
family to contribute to
interest bearing goals.
• Public goals allow
friends and family to
contribute, or keep your
account private


http://thefinanser.co.uk/fsclub/2009/06/a-spanish-first-social-banking.html


http://thefinanser.co.uk/fsclub/2008/07/bbva-the-
first.html


91

Settings Fast Food Entertainment Gifts

Oyster Money Search Travel

Fast Fashion Tell Free Time


http://thefinanser.co.uk/fsclub/2009/03/jibun-bank-the-mobile-only-bank.html

Microtransactions are the future


SOGITAL
March 2009

Nielsen Online’s latest research shows that social networking is now more
popular than email. According to their study, 66.8% of Internet users have
used social networks, while only 65.1% have used email.
FACEBOOK YOUTUBE
• Facebook has grown from 100 million to 200 • March 2009 YouTube reached 100 million
million users in less than 8 months. monthly viewers in the US. 6.3 billion videos
• If it were a country, it would be bigger than were viewed on the site.
Brazil. • According to some calculations, YouTube will
• Its traffic has grown immensely in one year’s serve 75 billion video streams to 375 million
period, especially in Europe where it grew unique visitors in 2009.
314%. TWITTER
• According to comScore, it has grown a • Twitter grew 76.8 percent just from February
staggering 2,721% in Italy from February to March 2009-04-21
2008 to February 2009; 999% in Spain, 607% • Its yearly growth rate is 1,382 percent
in Belgium, 518% in France, 499% in • According to Nielsen, Twitter currently has 7
Switzerland. million unique monthly visitors. If it keeps
• According to latest calculations, Facebook growing at this rate, it’ll have nearly 100
now has a total of 65.7 million unique million visitors by March 2010.
visitors versus MySpace’s 54.1 million. • Amazon & Domino’s Pizza fail


100

Participation is key

7 reasons to blog
• self-documentation
• self-expression
• information
• socialization
• improving writing
• medium appeal
• passing time

101


Amazon relies on users to participate and volunteer content

Amazon then manages the data and structure and editing to achieve
success

102


eBay is the same

103


and Wikipedia

104

106

107

108

The Future of Online Finance... Now

2.5million+ users
The next way to invest
Launches BlobLive

850,000+ users
Closes US office + World Economic Forum

J2G is 2

Partners with ANZ 10 new videos / day Launches Ace Manager


Further Reading

Blog Index (from April 2009)
http://thefinanser.co.uk/fsclub/the-week/

A Directory of Social Finance
http://thefinanser.co.uk/fsclub/2009/04/a-directory-of-social-finance.html

The Future of Banking: in a Globalised World
http://www.amazon.co.uk/Future-Banking-Globalised-Skinner-
Chronicles/dp/047051034X/ref=pd_bxgy_b_img_b

The Financial Services Club Library (members only)


Social Finance In Banking

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