My Digital Banking Nirvana

aMy Digital Banking Nirvana In many ways, there is no difference between what makes a great mobile banking application and what makes a great non-banking mobile application. The key components are:Simplicity: Does the app replace a non-mobile process I do often? Does it make my daily life easier? Is it easy to use? In the non-banking world, I love the KeyRing application because it stores multiple loyalty cards in one place on my mobile phone, eliminating the need to carry plastic cards. The app also links to digital offers I can redeem without cutting coupons.Engagement: Does the application stimulate positive interaction, and build a better application from this engagement? For me, my Marriott mobile application does a great job. Beyond providing the standard ability to make reservations and check my loyalty balances, it also allows me to check in early, receive notifications when my room is ready and informs me about special offers through multiple channels.Contextual: One of the benefits of a mobile application vs. an online tool is the ability to provide value based on where I am located. My favorite app from a contextual perspective is OpenTable. Using locational functionality, OpenTable provides suggestions of restaurants based on my current location and previous dining experiences. Reward points are provided for using the app and starting next year, the app will also allow me to pay for my meal using my phone and the OpenTable application.So, which mobile banking applications meet one or more of the above criteria and could become part of my digital banking nirvana? As could be expected, this list is fluid, since new innovations are being introduced every week, replacing previous applications that were once best-in-class.As an active mobile banking user, there is some functionality that must be the foundation for my best-in-class mobile banking relationship. First of all, as covered in a recent blog post entitled, Banking Innovation for the Fat-Fingered, leveraging mobile imaging technology and my phone's photo capability simplifies mobile banking by removing keystrokes and improving accuracy. Therefore, I expect my future mobile bank to provide the following:In addition to leveraging the photo capabilities of my phone to simplify my banking, I would prefer to eliminate many of my password and authentication steps, while not having to worry about security issues. One potential solution is to integrate Capital One's new SureSwipe login feature into my new mobile banking relationship. With SureSwipe, I remember a pattern as opposed to passwords, making my login easier as shown in this humorous video.I also do not want to go through a series of authentication steps just to see the balance in my account. In the U.S., GoBank provides me the opportunity to see my balances with a simple swipe of the finger. GoBank is still one of the few banks in the U.S. to provide this instant balance feature, even though Mapa Research found close to 20% of major banks worldwide offing this functionality. Banks overseas offering a similar capability included Commonwealth Bank's Kaching, Swedbank's 'balance shake' and Bank of New Zealand's mobile app that allows you to see your entire relationship without a full login.Other benefits of GoBank I would like to include as part of my digital banking nirvana include having a wide range of customized alerts, a negotiable monthly fee, and their 'fortune teller' that informs me when I might be spending money I will need later. (I covered the reasons I like GoBank in a Financial Brand blog post here) Going a step further, I would prefer not to type any information at all into my phone for basic mobile banking. If I had USAA's Virtual Assistant powered by Nuance, that would be possible since members are able to use voice commands to perform basic banking tasks. Nuance is also testing a similar solution at U.S. Bank.Beyond the basics, no other functionality of mobile banking is as important as payments. Despite high industry attractiveness and relatively low consumer acceptance (in the US at least), mobile payments is the Holy Grail of mobile banking and is the potential tipping point in the battle between bank and non-bank providers. From making payments to tracking payments, the diversity of payment applications globally is exciting.One of the most comprehensive mobile payment applications is from Commonwealth Bank in Australia. The CommBank Kaching application provides the ability to make P2P payments by bumping phones with another person, using a mobile phone number or email address, or even through Facebook. For bill or merchant payments, QR codes can be used and NFC payments are supported with internal Android functionality and with a CommBank Paytag on iOS devices.CommBank Kaching Mobile Payments FunctionalityOnce payments are made, some of the best mobile receipt capabilities I have seen have come from the new banking competition in the U.S. I am a user and a fan of the Moven digital receipt capability that provides me real-time feedback on my PayPass or debit card purchases as well as contextual transaction insights (the application also has spend tracking to compare spending to previous periods and the ability to pay friends by email, mobile or via Facebook).It would also be nice to include the ability to add pictures to my receipts as offered by Simple in addition to having real-time adjustments to my safe-to-spend and budgeting insight. Simple also provides a very comprehensive search capability that can assist the tracking of spending using 'Google-like' queries or hashtags for spending categorization. Poland's mBank also provides transaction search capability using Google-like queries supported by the excellent Meniga PFM platform.Simple Real-Time Receipts with Safe-to-Spend I understand that my mobile phone is not the best platform for enhanced budgeting, but I still want to be able to track how I am doing each month using my mobile device as an adjunct to the online banking capability on my desktop. This requires striking a very careful balance between form and functionality.As I mentioned, I am a fan of both Moven and Simple for their tracking and budgeting capabilities. Both allow me to see my financial position compared to previous periods and utilize a mobile-first design. The visualization of spending behavior is excellent with the use of easy to understand graphs on both the online and mobile platforms. For me, one of the best personal financial management (PFM) tools has been developed by MoneyDesktop. Using some of the most advanced user interface design capabilities in the industry, their MoneyMobile solution takes some of the best functionality from their online application and creates an excellent visual interface for mobile devices.MoneyDesktop Mobile PFM SolutionAs much as I am looking for the ultimate mobile banking experience, I realize that mobile may not be the best channel for all of my interactions with my bank. In those instances when I want to use online banking tools, talk to a customer service representative or visit a branch, I still use the same criteria of simplicity, positive engagement and contextual functionality.As I travel between online, mobile and my tablet, I don't want to relearn how to conduct my banking. While I may want added functionality that takes advantage of the tactile and interactive benefits of the tablet or the expanded canvas of the desktop computer, I want the 'feel' of the experience to be similar.Westpac New Zealand recently introduced an excellent device agnostic solution  that provides a similar look and feel across devices. In addition to using a responsive design (making the look conform to the device and how the device is held), the use of a 'central platform' will simplify changes in the future.WestPac Device Agnostic Central PlatformWhen I have a problem with my account, the last thing I want to do is search for the appropriate phone number for customer service or wait until I get home. Therefore, the ability to have an integrated customer service capability within my mobile banking application is a must.NatWest and RBS were the first two banks in the U.K. to offer in-app, real-time customer service whereby a customer can initiate a conversation with a dedicated Mobile Chat advisor. In addition, ING has a mobile application that allows for direct appointment setting with a specific agent in a few easy steps.Going one step further, Turkey-based Akbank became the first bank to offer video chat. Customers can make a one-click video call from within the bank's online banking site to one of the bank's video enabled service agents. No additional software is needed and the application will soon work on Android and iOS devices as well.Finally, for those potential instances I may want to use a branch, the traditional branch just doesn't meet my needs. I want to be in and out as quickly as possible and most likely won't need to see a teller. Banks globally are trying to address this change in customer behavior by scaling back traditional transaction-centric branches and replacing them with either advisory-centric units or technology-enabled branches that leverage video and advanced transaction capabilities.National Australia Bank (NAB) recently opened their first 'Smart Store' where traditional tellers have been replaced by full service machines. These new branches take less space, will potentially have longer hours and are geared to the lifestyles and digital-savvy nature of Customer 3.0. (This new branch format was covered by The Financial Brand here)As with any avid mobile banking user, I want even more from my mobile banking experience than just basic transactions, payments and basic money management. For instance, I have definitely come to enjoy my PNC Bank ATM/Branch Finder, that uses augmented reality to allow my phone to search and find facilities through the screen on my phone. Interestingly, while I find the app useful, I am intrigued as to why the app isn't integrated into my normal mobile banking application (PNC Finder is a separate app).With the demise of most points programs associated with debit card usage, more elaborate (and potentially more lucrative) merchant-funded rewards programs have taken their place. Unfortunately, the vast majority of these programs require a proactive opt-in on an offer level basis and are connected with the online banking relationship as opposed to mobile banking. This makes taking advantage of any rewards cumbersome at best and downright maddening most of the time.To address this problem and to provide locational rewards using my phone's GPS capability, Cardlytics is enhancing their merchant-funded reward program in early 2014 to include a much more user-friendly rewards program that will provide offers based on where the customer is located. This functionality is already available from American Express with their My Offers program that leverages both transaction history (what I do) with locational information (where I am).As long as I am trying to develop my digital banking nirvana, I might as well look a bit further into the future and make sure my mobile banking relationship can be supported by wearable technology. While definitely not for budgeting or more difficult mobile banking transactions, both Google Glass and SmartWatches can potentially be effective for mobile alerts, balances, simple transfers/payments and augmented reality ATM/Branch finding capabilities.Two banks are setting the pace globally for wearable technology integration. Banco Sabadell has already used an open app development forum to create mobile banking using Google Glass. As covered by The Financial Brand, the first iteration of 'banking by glass' includes balance inquiry, the ability to get alerts and find branches and eventually deposit a check by looking at it.In addition, Westpac New Zealand has created the first SmartWatch banking app that leverages the bank's Cash Tank application. Initially only providing balances without formal login, the application is expected to also include the ability to get alerts and do transfers in the future.It is clear that the development of innovative mobile banking applications is an ongoing process with new applications and capabilities being introduced almost every day. Therefore, it is important for those searching for digital banking nirvana to not only keep up with industry trends globally (much of the innovation is being done in the Asia Pacific region as mentioned in my recent blog post on innovation), but to also partner with those banks that have innovation ingrained in their culture.I was lucky enough to be surrounded by many banks at Next Bank Sydney that obviously do more than just talk the talk on innovation . . . they walk the walk. It was apparent that each institution put a high premium on future thought and were encouraged to think out of the box and not be afraid to fail. The energy level of people from these banks was high and there was an amazing willingness to share from each other as well as leaders globally.Beyond Australia, banks like CaixaBank and HanaBank, as well as USAA, Moven and Simple in the U.S. are ones to follow. I also am intrigued by BBVA, where their Innovation Center is both robust and very public. In addition to a public Innovation Center web site, there is also a LinkedIn and SlideShare page, sharing ideas that have been developed and discussing the innovation process at BBVA.It is clear that my digital banking nirvana will be a moving aspirational target. But, if I was to combine what is available globally today into a single mobile banking app, I would have a killer mobile banking relationship with my bank.

Big Day for Payments: Plastic vs. Digital

a Big Day for Payments: Plastic vs. Digital Maybe both will garner the support of the key involved parties. Maybe neither. Maybe another company will take the Coin concept mainstream sooner than the planned introduction. The one thing I am pretty sure of is that it is further evidence that financial institutions need to place multiple bets on alternative solutions to avoid being left behind.Despite all of the talk in the industry around mobile payments, acceptance of new digital innovations and platforms has been anything but a smooth ride. In addition to the seemingly insurmountable challenge around consumer's concern with security/privacy, getting merchants, consumers, financial institutions and even carriers on the same page has been close to impossible.At the end of the day, the biggest challenge may be the perception by many that there is no reason to fix something that isn't broken. The current card-based process for making payments, while not perfect, is relatively easy and definitely firmly entrenched in the consumer's daily life. Coin is a .84 mm thin plastic card-like device that can store any of your current cards (actually, 8 of them) and behave like the cards it replaces. Instead of carrying an assortment of debit, credit, gift, membership and loyalty cards from various institutions, you simply use the dongle provided (like the one used by merchants accepting Square) to capture your card information on your phone, take a picture of the cards and use the Coin app to load your Coin card. While only 8 cards can be loaded into the Coin card, an unlimited number of cards can be stored in the mobile app and switched in and out of the card as desired. "You don't need eight cards every day, so your phone is kind of like your drawer, and your Coin is kind of like your wallet," explains Parashar, founder and CEO of Coin. When you are ready to pay or use a loaded card, simply press a button on your Coin card to select the card you want to use (electronics imbedded within the Coin card itself), present your card to the merchant like you have done in the past, and the rest of the process is the same as it is today (see compelling video below).For those concerned about the security of the card should you leave the card behind (only happens to me about 4x a year), the Coin card uses Bluetooth low energy technology to inform you on your phone that you left your card behind. Better yet, the card completely disables itself if your phone and card are away from each other for more than 10 minutes. For those concerned about someone scanning another person's plastic into the app, Coin says that the app only accepts a card that includes the user's personal information. Further, the Coin app is protected with 128-bit or 256-bit encryption and the company is pursuing PCI compliance. The app is also password protected.From the video alone, it is clear that Coin is cool. I personally love it because it is another example of incremental innovation, based on simplifying a person's life seamlessly. It combines something that I am very familiar with (traditional magnetic swipe mechanics) and leverages very high tech digital technology to lighten my wallet. The public seems interested as well since, in the first 48 hours, almost 2 million people viewed the demonstration video on YouTube, making this financial product the number one trending video.No new hardware is needed since the device uses a traditional (or new form) credit card swiping device. In other words, Coin has done what mobile payments is hoping to do (eliminate wallet bulk) without changing my payments behavior. And until NFC, Isis, PayPass or any other mobile payment alternative gains the needed momentum to become omnipresent in my life, an incremental improvement works for me (even though I still love the integration of my Moven debit card and PayPass with mobile receipt and payment analysis).Initially, the Coin card is expecting to be released in either black ('Midnight') or white ('Snow'), with additional colors being introduced later (sound familiar?). The app will initially be able to run on both iOS and Android. Obviously, the Coin card would not be used for online purchases.While not the best way to judge a new payments alternative, even the Card website is cool. Here is a link to the product's FAQ page (be sure to read all of the questions . . . some are helpful in daily life).While already having raised funds from venture capital firms (and interestingly the backing of former Google Wallet head Osama), Coin hoped to raise the $50,000 it says it needs to start producing the card by pre-selling the cards to the public beginning immediately for $50 on their website. This method of pre-sale was to gauge the acceptance of the concept up front and underwrite the initial  offering. It is expected that the card will be priced at about $100 at introduction which is scheduled for next summer.According to representatives from Coin, the start-up surpassed their initial goal for funding . . . within 40 minutes. In addition, the buzz in the industry (while not always the perfect barometer) was unprecedented. Obviously, the consumer wants an alternative to the fat wallet, that is easy to use, acceptable everywhere and avoids a steep learning curve.To kickstart the process (pun intended), Coin is offering a $5 referral incentive for those who pre-order Coin. Once a person orders Coin, they will be provided a unique URL via email which can be used to tell friends and family about this unique payments solution. For each referred party (up to 10) who also pre-orders within 90 days, a $5 credit will be applied (up to covering the $50 cost of the service. Just like the card-based platform Coin is hoping to simplify, the solution is not without some potential drawbacks. For one, while the concept of connecting the smartphone and Coin card for security is a significant benefit, there may be some challenges during normal use when the bluetooth connection is lost (during airplane mode) or the card is out of contact with the phone for extended periods. Coin says that reactivating will be simple.Additional issues include the normal concerns around any card-based system such as potential skimming even though there is encryption, durability of the card (said to be 2 years of 'normal' use) and the fact that the Coin card is not waterproof. It is still to be seen how durable a computer embedded, less flexible card will be (especially in my pocket).From my perspective, there is one more drawback . . . Coin won't be available for at least another 6 months. Knowing the unpredictable payments world, the introduction will probably correlate with an announcement by Apple regarding their entry into the payments battlefield. As mentioned in the beginning of this post, another significant announcement occurred today with the long awaited launch of the Isis Mobile Wallet. According to the press release, customers with one of the more than 40 'Isis ready' smartphones can receive an enhanced SIM card from their wireless carrier and download the Isis Mobile Wallet for free from Google Play. The Isis Mobile Wallet will allow customers to pay at contactless payment terminals. Unfortunately, with only 200,000 local and national merchant locations (out of 8 million merchant locations in the U.S. market), this solution will continue to face an uphill climb. In other words, this might be a potential mobile solution if you live in the right place with the right phone.Not surprisingly, the newswires were buzzing with discussion and stories about payments innovations today. It just wasn't about Isis.

The Engagement and Revenue Potential of Mobile Alerts

aThe Engagement and Revenue Potential of Mobile Alerts As discussed in my post, Is Your Bank Ready for Customer 3.0, today's mobile-savvy customer expects their bank to provide instantaneous feedback as to their financial position and to move from being a financial facilitator to being part of their everyday, always-on digital ecosystem. A new white paper from Fiserv entitled, Enterprise Alerts: The Superhighway to Delighting Customers With Timely, Relevant and Actionable Information discusses how financial institutions can develop a comprehensive alert strategy that can take advantage of this opportunity while also meeting regulatory requirements related to customer notifications.Despite the benefits of alerts to financial institutions, adoption of alerts (similar to online banking and bill pay) have flatlined according to Javelin Strategy and Research. In a recent study entitled, Road Map to Alerts 3.0: A New Channel Emerges for Interactive Finance, Javelin predicts that the number of consumers who receive email or text alerts is only 34% currently, and will only grow by 4% annually through 2016 unless the industry deepens the pool of users by upgrading alert technology, providing more real-time insight and making alerts more useful and relevant.Source: Javelin Strategy & Research (2012)As could be expected, the banks with the most successful alert strategies (based on households receiving alerts) are the larger banks, while community bank and credit union customers/members are the least likely to have received an alert according to Javelin research. While Bank of America customers are the most likely to have received an email alert, Chase customers were the most likely to receive a text alert in the past 30 days.Bank of America Mobile and Online Banking Alert Selection PagesAt a time when the vast majority of interaction with online and mobile banking involves simplistic balance inquiries or funds transfer, expanding the number and variety of alerts can lead to a significantly higher level of engagement that can deepen the relationship with the customer. According to the Javelin research, while email continues to be the primary delivery channel for alerts, text alerts are the fastest growing type of alert even though this form is usually used to supplement the email variety. As mobile banking downloadable app usage continues to grow (currently at about 50% of mobile banking users), opt-out push notification alerts continue to grow.In early 2013, Varolii Corporation did research on mobile banking preferences entitled, Can You Bank On Your Banking App, which found that consumers differ significantly in the way they want to be contacted regarding their account. Some of these preferences may be correlated with the way in which they are currently being notified by their financial institution.Source: Can You Bank on Your Banking App?, Varolii Corporation (Jan. 2013) With such a wide variety of preferences, banks and credit unions must find a way to economically tie their alert system to a unified system of engagement that does not confuse the customer with too many notifications but still allow the customer a degree of customization. The key is to ensure that time-critical information is delivered to the customer in a manner that both informs and allows for immediate action. "An enterprise alert strategy should include a wide variety of alerts distributed via multiple end points and devices," says Jim Tobin, senior vice president and general manager, Mobile Solutions from Fiserv. "This will enable financial institutions to serve customers at different stages in their lives while keeping pace with regulatory demands."While the origin of alerts were to notify customers of overdrafts or potential fraud potential, the variety of alerts within downloadable applications has expanded significantly over the past 18 months resulting in an increase in engagement and a better potential customer experience. In the past, the majority of alerts have involved a one-directional flow of information from the bank to the customer. Examples include: Balance alerts: these could include overdraft or NSF alertsScheduled alerts: could be balance or other insight delivered on a scheduled basisEvent-based alerts: Could be based on a bill payment or potential fraudulent activityWhile the majority of the above were usually done via email, the movement to using SMS channels opened the door for potential conversations between the bank and the customer. This expanded to 'push' notifications that allowed customers to instantly take action on an alert.Push notifications enable customers to not only view an alert, but initiate a transaction in response to an alert within a secure app . . . in real time. For example, instead of simply getting notified that there is a low balance on an account, the alert can include a response option that allows for a transfer to be made using the mobile device. This deepens the engagement level, provides the customer more control and ultimately increases customer satisfaction.As the use of smartphones continues to grow, push notifications are the expected level of engagement for 'Customer 3.0'. "With push notification, financial institutions have an opportunity to transform their existing alerts offering from a reactive, event-driven service to a proactive personal financial management (PFM) tool," says Fiserv's Tobin.According to Fiserv, Push notification uniquely provide the ability for financial institutions to evaluate and measure alert programs. Unlike text and SMS, push notifications within the mobile banking app are not limited by carrier policy restrictions. For this reason, push notifications open the door for innovation and facilitate Enterprise Process Management (EPM) with the ability to measure the value of alerts.Bottom line, an expanded alert strategy with the resultant engagement by customers can transform a one-way, static alert offering into a proactive personal financial management tool.Not surprisingly, the new digital banks (Moven, GoBank and Simple) as well as several banks overseas have leveraged the power of mobile push alerts the most effectively. The options available and the ability to personalize the alert 'experience' can be seen below.I have covered the potential for financial institutions to charge a fee for services that provide 'added value' to banking and credit union customers. While most banks have been reluctant to charge a fee for almost anything since the Occupy movement, some institutions (most notably U.S. Bank and Regions Bank) have built a strategy around charging fees for 'premium' services. (see my post on monetizing mobile and building a fee-based strategy here and here).In a report from Market Rates Insight entitled, Growth and Revenue Potential of Emerging Financial Services, evidence is provided that banks and credit unions are missing an opportunity to charge for services that go beyond basic. While not covering push notifications per se, this 168-page study covers 13 different emerging financial services, with insights into fee optimization, targeting, institutional differences and bundling options.One of the services they do cover is the ability to charge for identity theft notifications which could be one of the many push notifications offered by a financial institution. According to the research, 82% of the households surveyed said they were likely to use identity theft alerts, with an average acceptable monthly fee of $4.07. The level of acceptance and perceived value of the service was not impacted significantly by either type of institution or type of customer (while women did value the alert slightly more than men).According to Dr. Dan Geller from Market Rates Insight, “Staying informed through alerts is highly desired and valued by consumers. Nearly nine of ten banking customers want identity theft alerts, and nearly eight of ten banking customers desire low balance alerts.”While I realize the value of an identity theft alert is definitely more than a basic alert, I believe there are alerts that the customer could receive that could be charged for as part of a bundle. For instance, the ability to charge a small monthly fee (let's say $2.00) for the following expanded set of alerts could be tested:Credit card or checking account low threshold alertUpcoming bill (within 2 days) where available funds are not sufficientLarge recurring bill notification (15 day notice) for mortgage, rent, car payment, tax bill, etc.Customized personal notification (owe a friend, non-financial promise made)Integrated personal calendarAccording to Fiserv, an enterprise alert strategy should include two way information flow and should be seamlessly integrated with all banking channels to support information access and management reporting. It should be both easy to enroll for and easy for the customer to make changes to preferences or to opt-out.Since the potential for a broad-based alert strategy can be difficult to implement, Fiserv recommends a phased approach with different stages to implementation including:Step 1: Account-centered alerts that are specific to account activity (low balance, direct deposit, large debits)Step 2: Event-based alerts that indicate when an event may prompt a follow-up action (bill payment due, P2P request)Step 3: Security-related alerts that notify the customer when accounts may be compromised (international charges, password change)Step 4: Customer care information that can be initiated by the customer or the financial institution (CD maturing, lease up for renewal)Step 5: Actionable insights that provide financial management tips and guidance based on the customer's activity (changes in financial activity compared to historical data)While it may be difficult for some banks or credit unions to reach the final stage of implementation, digitally savvy and mobile-first 'Customer 3.0' expects this level of partnership from their financial institution. While providing such an array of alerts may seem like we could bombard the customer with communication, today's alert strategy keeps the customer in control of what they want to see and what they don't find important. The key element is providing choice.As I have said in previous posts, "If you build it, they won't come." In other words, just because you have a robust, interactive alert capability doesn't mean that customers will take advantage of this opportunity (assuming they can find the option on their online and/or mobile banking site.Banks and credit unions should focus early efforts on those customers most likely to want and use alerts actively (low hanging fruit). These would most likely be those customers who already are using online and/or mobile banking actively and would best understand the benefits of customizable alerts. Messaging within the online and mobile banking platforms is the least expensive and most effective way to begin. Fiserv suggests segmenting the target audience by digital personas to determine which alert(s) would be most valuable for each segment.Beyond messaging within the online and mobile banking sites, other effective ways to communicate the benefits and use of alerts include:Frontline staff: leveraging the referral power of customer-facing personnelEmail: a series of email communication regarding alerts with direct links to preference pages on the customer's online banking site (Don't forget the power of engaging offline customers as well)Ad campaign: Because of the innovative nature of robust alerts, ad campaigns have been used as a way to acquire new mobile-first customersBranch and ATM signage: While branch traffic is less than in the past, branch and ATM signage is still effective at raising the awareness of customers who may or may not use online or mobile bankingATM receipts: One of my perennial favorites is the use of QR codes on ATM receipts to encourage both the sign-up for mobile banking but the selection of alert preferences. Linking to the alert marketing page of a bank, these receipts are an inexpensive way to reach mobile customers and prospects.Banks and credit unions have a unique opportunity to expand the functionality and engagement of both online and mobile banking by developing an enterprise approach to alerts that satisfies customer needs, addresses regulatory issues and can generate revenue. Since the implementation of a robust alert strategy is still in formative stages, financial institutions have a unique opportunity to develop both a standard (free) set of alerts along with premium (fee-based) alerts that customers value and are willing to pay for.This is a great time for banks to step up to the plate to provide a service customers will value and to generate needed fees at the same time. The question is . . . will we give another innovative set of services away for free?