Co-operative Financial Services send out a message

The Co-operative Bank doubled the number of current account customers switching to the bank following the launch of its current account incentive, which offers complimentary access to its Privilege and Privilege Premier Packaged Current Accounts for a 12-month period (sadly,  I understand that this offer has expired).

According to John Hughes, Business Leader, Retail Products “At The Co-operative Bank we’ve taken a real interest in our own current account switchers over the course of the year and recognise that switching current accounts can be a time consuming process.

More power to Co-operative Financial Services for showing their competitors THE way forward…for all of us, individually and collectively!

This piece is especially for those who believe that sustainability looks good in a mission statement but not on a balance sheet. CFS, U.K., which claims to be the world’s most sustainable bank, turned out stellar results in the first half of 2010, when others were still overcoming the crisis blues.

Is sustainability sustainable? Let me answer that by saying that our current unsustainable behaviour certainly isn’t. Going green is no longer optional for banks, nor a CSR footnote. More like a burning necessity.

via Green, the Colour of Future Banking.

‘Power curves’: What natural and economic disasters have in common

An interesting extract from this McKinsey article to whet your appetite:

“…Scientists, sometimes in cooperation with economists, are taking the lead in a young field that applies complexity theory to economic research, rejecting the traditional view of the economy as a fully transparent, rational system striving toward equilibrium. The geophysics professor and earthquake authority Didier Sornette, for example, leads the Financial Crisis Observatory, in Zurich, which uses concepts and mathematical models that draw on complexity theory and statistical physics to understand financial bubbles and economic crises”.

The following extract is taken from a thought-provoking article from McKinsey. Power curves are much loved by authors, such as Clay Shirky, Seth Godin, Charles Leadbetter to illustrate the potential for conversation, collaboration and innovation, through adoption of: web 2.0; social media; crowdsourcing; collective intelligence, etc.    They are, therefore, very much “in vogue” and, I suspect, will continue to be so for some time to com … Read More

via Get “fit for randomness” [with Ontonix UK]

Reveal Your Hidden Profits: Looking at complexity in business?

It really makes my day when other people do a marketing job for Ontonix! OK, so there is never a specific recommendation to contact us but we are happy to settle for the next best thing. That is to identify where complexity IS already costing and will, increasingly, cost through:

  • the impact upon clients, customers, employees and “the bottom-line”
  • budget to identify, measure, manage and monitor on an ongoing basis
  • reduced ROI on assets and facilities or increased insurance/risk management outlay
  • reduce business capabilities &/or become less flexible (lose competitive advantage!?)

“I wouldn’t give a nickel for the simplicity on this side of complexity, but I would give my life for the simplicity on the other side of complexity”                                                                                               – Einstein

In previous posts I have made reference (and provided links) to reports by, such as, IBM, McKinsey, PwC, Economist Intelligence Unit (EIU) – on behalf of RBS, KPMG and  AT Kearney, each spelling out WHY COMPLEXITY IS SUCH A MAJOR ISSUE for modern business!

It is reassuring to now see that business’ are being recognised as “systems” operating within inter-connected ecosystems and networks. As a result the “Economic domain” is beginning to benefit from a the lessons learnt in a wide range of inter-disciplinary scientific fields…and can build resilience across domains, rather than destroy it.

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