Challenging industry orthodoxy...
In this morning's Daily Now, I suggested that today's general session would send the message that associations must challenge conventional wisdom and industry orthodoxy. So far, it has not disappointed at all. Right now, Bill Taylor is interviewing Arkadi Kuhlmann, CEO of ING DIRECT. ING DIRECT has been called "the Southwest Airlines of banking."
ING DIRECT is an excellent example of a disruptive business model. Virtually all of the company's activity occurs online in order to reduce fees to customers. Although the company has "branches," they are more like cafes. ING DIRECT has challenged the underlying assumptions of the banking world, including those of customers who expect to have their hands held. (ING DIRECT actually fires customers who are too needy when it comes to help.)
I happen to be an ING DIRECT customer for savings, and I love what the company offers. I am definitely an evangelist for ING DIRECT, something that Arkadi believes is very important to its success. So the question for your association is two parts: 1) does your business model disrupt industry orthodoxy, even to the level of the member or customer and 2) do your members/customers have such profound passion for the way you do your work that they will share their zeal with others?
Comments
ING had a big security breach recently, which makes some people reluctant to get on board. People's information was stolen from their database. I was considering doing an account with them; now I'm not eager to.
Posted by: Sally McConnell | August 21, 2006 09:57 AM
Sally, I'm not aware of the security breach to which you refer. ING DIRECT has actually ramped up its online security to request more information that confirms the identity of account holders when they login. You can learn more about those efforts at http://software.silicon.com/security/0,39024655,39161602,00.htm .
Posted by: Jeff De Cagna | August 21, 2006 11:25 AM