Correct me if I'm wrong but CIBC would be our 5th largest bank launched including the US? And each of the other big 4 when they launch would also be slotted in the top 5. These banks are huge...
This will take Canada by STORM. We are not a dense country, only 34M in a country larger in size than the USA - the lack of population density means fewer canadians have proximity to a branch. That is your ideal clientele for remote deposit. And we love our cheques here, Canada has the 2nd highest deposit rate per capita in the world.
There are essentially 5 big banks and 1 is now live. The next domino will fall very soon while the other 4 rush to avoid falling behind.
After a painfully quiet couple of months since last earnings, tomorrow is the day we have been waiting for. I dont need to see a blow out, just a quarter similar to the last one with positive sales momentum and profitability of .05 or .06 through lowered opex. We will know soon enough.
I bought DSNY in the low 2's thanks to your recommendation. Suggest everyone do some DD on it, tons of great resources and info out there on this name.
Speaking of IHub, jorlev has started posting bank launches there.. Wouldnt mind seeing most of thr conversation move there.
A hockey stick starts out flat. Thats where i would say the 'lukewarm' part comes from. I personally see the first quarter being fairly quiet as word gets out and companies feel out the technology - moving video from one provider and the website work it entails will take companies some time to prepare for. So there may be irons in the fire and personal users may adopt quickly but the more lucrative business accounts will take some time.
Thats great. I don't see this being any more than a niche product or the 2nd killer product Mitek needs (that would be MPAO). I think it will catch on and drive moderate revenues though as banks play 'me too' not wanting to take the chance that they miss out on the next big thing in mobile.
I would agree in MPBP, it will grow in popularity as a niche product but its not the 2nd killer app Mitek needs. MPAO certainly is - product is the definition of disruptive. Customer acquisition is a top priority for any FI or service.