My Digital FootPrint

This title is enough to excite anyone one. " Digital Transformation in Banking Requires Big Cultural Shakeups "  Source: The Financial Brand by Jim Marous The core argument is that: to succeed, banks and credit unions must support the elimination of silos, be willing to embrace risk, and have an obsessive focus on the needs of the consumer. ----- I have been saying for a while " that the next victim of digital will be the hierarchy " but I am more than every convinced that the first issue we need to address is consistency in data. Let me explain.  Do we trust the CFO for finance.  Yes we do but we verify.  We get and use b/s, p/l and cash flow as tools to help backed by faith in the accounting software and access controls.  We get reporting to the board in reports and use committees for SAP, remuneration and audit, then we have external audit for full verification.  We had consistency in finance and this gave us a culture.  So do we tru

Source: FASTCOMPANY   - great articles, but wh at the article doesn't talk to is data portability and where to port your data to.  Then when it is there how you can be either in control of it or even more at threat.   Why write about FUD when there are solutions - oh yes click bate and the advertising model.... how do break the loop? What the article doesn't talk to is data portability and where to port your data to.  Then when it is there how you can be either in control of it or even more at threat.

I have been a long term NatWest customer.  A long time ago Barclays, whom I first opened an account with refused to give me a loan for my MBA.  I walked into the next branch and that was NatWest.  A short time later a loan approved and I moved banks.  To keep life easy over time I opted to open business accounts with NatWest as it saved all the time for proofs and documentation.  During the joyous 2008 financial problems, NatWest post government help had to sell on their business banking.  Hence the mess I am now in.  Accounts everywhere.  I have gone from one login, one app, one ID to many apps, many logins including many NatWest versions, which all now don't work as their cookie policy is a mess and leaves all sorts of nasty follow/ remember me stuff.  "have come to love and value incognito"  To aid me in a new decision I had a lovely email this morning.  " We originally planned to do this by setting up a new bank – Williams & Glyn – which you were du

Ctrl Shift published the report it undertook for DCMS Data Portability (mobility) The Full report is here for download  Or the 8 page version is here – this is 10 minutes and well worth reading  My takeaway  "Data Portability isn’t the issue, it’s what can be done with the data at the other end that matters."  The core issues This report makes three recommendations which directly support the progression of the personal data mobility development agenda: Recommendation 1: Create the personal data mobility Coordinating Entity (CE). The Coordinating Entity requires the following characteristics to be successful: • Empowered – have teeth or have the resources to teeth the enforcement of action. • Commercially independent. • Impartial – be known to be unbiased. • Have capacity and funds to support engagement. • Be able to coordinate across sectors. • Have market authority – strong skills and knowledge and with the capacity to drive th

I saw 50 black swans when thinking how data data portability/ mobility will migrate value towards the individual. Now some headlines are set up for click bait; however here is my picture taken in on the North Island New Zealand on lake Rotomahana when out walking and preparing this. Yes each little do it a black swan. Summary : Been thinking about the complex and hidden implications of the personal data portability/ mobility models and data sharing economics. The thinking leads to the possibility of making it far harder for large silo data owners to sell/ share their data due to risk of re-identification; which changes the data economy. Less general silo data being available for sale but increasing demand for ‘quality’ data could mean individual collated data becomes far more valued far quicker than forecast, as the value chain shifts in response to new legislation/ regulation. Early and fast adopting countries will benefit with significant increases in innovation, investment and

Iterating from the generic and classic four : defense, human right, private and contextual;  and the invasion of privacy work  where claims center on: Intrusion of Solitude, Appropriation of Name or Likeness,Public Disclosure of Private Facts and False Light.  Also from Rachel Finn, David Wright and Michael Friedewald work on the  Seven Types of Privacy.  (2013)   Privacy of the person,  Privacy of behaviour and action,  Privacy of communication,  Privacy of data and image,  Privacy of thought and feelings,  Privacy of location and space,  Privacy of association Do we need a better refinement the ideas and definitions, but what are they.....  a few as a starter: Information privacy , which involves the establishment of rules governing the collection and handling of personal data such as credit information and medical records; Bodily privacy , which concerns the protection of people's physical selves against invasive procedures such as drug testing and cavity searches;

Been looking at Flux . Simple proposition.  Aggregation of all your receipts and loyalty into one place. #loveit The power; [in terms of control of your data and what happens to it, how gets to exploit it and what rights you have] shifts from one silo ( the retailer and the bank) to Flux.  It moves from the relationship collector (who you interact with) to a new third party. (intermediary) So here is convenience for you, as these services improve your customer experience, at the expense of data, it is trade we make with having to determine the consequences.  Your data is spread out to a new layer who now needs to monitise  data  to thrive.  The players who now have access to and want to monitise your data goes up.  More competition usually means a lower price, in this case to access your data.   Given some of the players have a direct business relationship with you for products and services ( how your data is generated)  - reselling your data is incremental.  However for the