by Brett King
SIM Card: Subscriber Identity Module (SIM) securely stores the service-subscriber key (IMSI) used to identify an individual subscriber on a mobile phone.
Siri: Siri on iPhone 4S lets you use your voice to send messages, make calls, set reminders, and more.
Skype: A technology allowing web chat.
SMS: Short Message Service—a system of communicating by short messages over the mobile telephone network.
Snail Mail: The term used by proponents of digital technologies to describe traditional mail and the postal system.
Spam: Unsolicited bulk email sent out simultaneously to thousands of thousands of email addresses to promote products or services.
Stored-Value Card: Monetary value stored on a card not in an externally recorded account; examples are the Octopus, Oyster and Suica systems used to replace public transport ticketing.
STP: Straight-Through Processing—the implementation of a system that requires no human intervention for the approval or processing of a customer application or transaction.
T-DMB: TV via Digital Multimedia Broadcasting.
TiVo: A brand and model of digital video recorder available in the US, UK, New Zealand, Canada, Mexico, Australia and Taiwan.
Touch point: Any channel or mechanism by which a consumer has day-to-day interaction with a retail service company, such as a bank, in order to transact or conduct business.
TVC: The industry abbreviation for television commercials.
Twitter: A social media website that supports microblogging between participants in the network; sort of like an SMS broadcast system for the web.
UCD: User-Centred Design.
Up-Selling: A system of selling an additional service of a higher margin or total revenue within the same product or asset class to a customer, typically upgrading from one class of product to another.
URL: Uniform Resource Locator—an “address” or identifier that is used to locate and retrieve documents hosted on the World Wide Web.
UT: Usability Testing—the science of testing how users interact with a system, product or interface through observation.
VBC: Video Banking Centre (Citibank, circa 1996)—an interactive, 24-hour personal banking centre providing access to personal banking experts through integrated voice, video and data connection.
Virtual Currency: Currencies such as Linden dollars, QQ coins, Project Entropia Dollars (PED), etc. that exist in the virtual world and can be exchanged for real currency by users.
VoIP: Voice Over Internet Protocol—an Internet-based protocol that allows users to use voice communication such as over a telephone system.
VSC: Virtual Support Centre—a call centre virtually supported by customer service representatives who typically operate from home (i.e. homesourcing).
WAP: Wireless Access Protocol—the original protocol for simple internet browsing or simple menu interactions via 2G (digital) mobile phones.
Web 2.0: Web applications that facilitate interactive information sharing, interoperability, user-centred design and collaboration on the World Wide Web.
Widget: A generic type of software application that is usually portable and works across different operating systems and devices.
WiMax: Worldwide Interoperability for Microwave Access—a telecommunications technology that enables wireless transmission of data from point-to-multipoint links to portable and fully mobile internet access.
XML: Extensible Markup Language—a set of rules for encoding documents electronically.
Yelp: A website that lets users review businesses ranging from plumbers to pet shops and which has a check-in service for mobile phones.
About Brett King
Brett King is an international bestselling author, a renowned commentator and globally respected speaker on the future of business. He has spoken in over 50 countries, to more than a million people, on how technology is disrupting business, changing behaviour and influencing society. He advised the Obama White House, the FED and the National Economic Council on the future of banking in the United States, and advises governments and regulators around the world. He appears regularly on US TV networks like CNBC, where he contributes on Future Tech and FinTech.
King hosts the world’s leading dedicated radio show and podcast on technology impact in banking and financial services, called Breaking Banks (150-plus countries, 6.5 million listeners). He is also the founder of the neo-bank Moven, a globally recognised mobile start-up, which has raised over US$42 million to date, with the world’s first mobile, downloadable bank account.
Named “King of the Disruptors” by Banking Exchange magazine, King was voted American Banker’s “Innovator of the Year”, “the world’s #1 Financial Services Influencer” by The Financial Brand and was nominated by Bank Innovation as one of the top 10 “coolest brands in banking”. He was shortlisted for the 2015 Advance Global Australian of the Year Award for being one of the most influential Australians living offshore. His fifth book, Augmented: Life in the Smart Lane, was a top 10 nonfiction book in North America and was referenced by President Xi in his national address to the Chinese people in Jan 2018.
King lives in New York and enjoys flying, gaming and scuba diving in his spare time.
About Moven
In 2011, Brett King co-founded Moven as the first US direct to consumer neobank to offer account opening via a mobile app. The app’s engaging design helps customers spend, save and live smarter. This innovative approach led to creating global demand from banks to offer Moven technology to their clients, resulting in the firm’s transformational Moven Enterprise offering. To learn more visit moven.com or movenenterprise.com.
