Willingly attending an agenda-less (note 1) meeting of credit union enthusiasts, consultants, bloggers, fintech startups, and even the occasional banker, can be difficult to explain to your boss, let alone your spouse.

But if you want to improve your bank-geek cred -- and really who doesn't -- the 2009 BarCampBank season begins in 10 days with two events in Europe. Then it's back to the western United States with the second annual San Francisco BCB the last weekend of April (not coincidentally scheduled two days before our FinovateStartup so you can make both), and finally a new Vegas version the following weekend.

May 2 BarCampBankVegas (organized by Robbie Wright and timed around the NACUSO convention)

Notes:
1. It's not truly agenda-less; rather, there is no agenda ahead of time, it's created on the fly by attendees (see inset, photo credit Thomas Barker).

2. Re: BCB Madrid: Congratulations to our friend Jesus Perez Sanchez at Financial Red. It looks like he's helped pull off the biggest BCB yet, and with great participation from bankers. It's a trend I hope continues in the states.

I attended my second BarCampBank Saturday in Vancouver BC. I was part of the first North American camp in Seattle last July (coverage here).

For me, this one was more interesting. There were more people (50-60 compared to 30-40 in Seattle) and more financial institutions represented, including both credit unions and banks. HSBC Direct even helped sponsor the event.

First a note of thanks to organizers William Azaroff of Vancity; Tim McAlpine, creator of Common Wealth CU's Young and Free program and  founder of Currency Marketing; and Gene Blishen, CEO of Mt. Lehman Credit Union who has the coolest graphics in the whole world (see inset). 

If you want to see session notes, check out the weekend entries at William's blog. He did an amazing job facilitating the sessions and live blogging. You can also watch archived video streams of five of the sessions, courtesy of Brent Dixon, posted at his Open Source CU blog (turn on the embedded player and click the "on demand" button in the lower bar). 

Here's what I highlighted in my notebook: 

• Mobile could be more game-changing than we give it credit for. The ability to communicate in real-time as consumers engage in shopping, bill payment, and so on is so powerful, it's difficult to grasp the long-term implications. 
  
• Social media tools like Twitter could be used to harness customers' reactions in real time, a virtual sentiment meter as one of the campers said (was that you Brent?) Why not have a "what are you thinking" box displayed after customers login. The responses could be aggregated and trended to see how the bank is performing over time.
  They could also be broadcast to all customers to build community.
  
• Even in this progressive group, only two of the financial institutions are blogging: Vancity's ChangeEverything which is really more of a platform for social change than a true broadcast-type blog and Verity Credit Union (note 1). Reasons for not blogging seemed to be some variation of "lack of resources." It's hard to argue with that. But basic blogs such as UW Credit Union or Piedmont Credit Union, both of which I think are very effective, can be put together in just a few hours per week.
  
• Financial literacy, or lack thereof, was a common theme and there seemed to be a consensus that the industry should help schools and parents do a better job preparing youth to handle money and debt. This is what iThyrv, which debuted at TechCrunch50 last week, is using as their primary market-entry strategy (previous post here). Andrew Taylor, Jwaala CEO, participating remotely via the live webcast, threw out the the idea of a financial literacy score similar to FICO. Again, that's part of the iThryv model. It's a good idea if it were to catch on, although that seems like a long shot.  

Note:
1. Many (most?) of the credit union representatives had personal blogs.

What's all this about BarCampBanks? From a North American premiere in Seattle almost a year ago, we've witnessed two more in the last few months, and eight more are either scheduled, or in the planning process.

Well, maybe not exactly "planned." BarCampBanks emerge more than they are planned.

What's a BarCampBank?
It emerged from the BarCamp movement, which according to barcamp.org, is defined as...

...an ad-hoc gathering born from the desire for people to share and learn in an open environment. It is an intense event with discussions, demos and interaction from participants.

It started as a technology summit, an un-conference where developers and technology geeks could share exploits, connect, and find like-minded companions to extol the virtue of open-source and emerging technologies over pizza and wine.

And then someone decided that this forum would be a perfect place to talk about banking and finance. Weird. And yet it works.

It started in Seattle
I was fortunate to learn about BarCampBankSeattle, the first North American BarCampBank soon after it was announced by the prescient organizer Jesse Robbins. I can't quite call it a decision to attend - it was more a compulsion. Somehow I knew I had to be there.

Probably some of you reading this will feel that way, too. And if so, I urge you to get yourself to one of the BarCampBanks spawning like saplings everywhere bank-geeks gather. The conversations initiated, the innovations surfaced, and the relationships developed at these organic and loose events are truly inspirational and energizing. It really is something to be experienced, and at a cost of $20-35, it's a fraction of the cost of a typical talking-head conference.

After BarCampBankSeattle in July of 2007, there was a long dry BCB spell, which wasn't broken until the last few months when BarCampBankSanFrancisco and BarCampBankNewEngland emerged. Some dedicated BCB-heads even attended both in a cross-country banking-frenzy (you know who you are, my friends).

Coming soon, in Dallas
If you've read this far and feel the need to dive in right away, your first opportunity is BarCampBankDallas planned by my co-participant in Seattle, Brad Garland. It'll take place 21-22 June at the American Bank of Texas Building in Frisco, Texas. Brad is excited about the attendees who have signed up on the wiki (each BarCampBank hosts) where people can add what they wish to contribute to make the event their own. They have people coming from in and out of the country, from banks, credit unions, and even companies like Microsoft. It should be a great conversation.

BarCamping in London
If you'll be in London this summer, you can check out BarCampBankLondon on 5 July at Sun Microsystems' offices on King William Street. London is being planned by the great blogger James Gardner, the head of innovation at Lloyds TSB. In his entry on the event's wiki, James mentions that he is interested in talking "about innovation programmes and the economic reasons why *not* to give them too much money." Intriguing.

July in Charleston
After London, look out for BarCampBankCharleston, taking place on 26-27 July at the First Federal Corporate Center in North Charleston. George Pasley is organizing, and it should prove to be a great, inaugural Southern event.

BarCampBankBC, just too many Bs and Cs
If you're on the West Coast and want to save the planet from the carbon emissions of travel to London or Charleston, come to BarCampBankBC, 20-21 September, at the British Columbia Institute of Technology in downtown Vancouver (originally called BarCampBankVancouver, who could then resist the acronym BCBBC?). I am organizing this event, along with Gene Blishen and Tim McAlpine. I am humbled and excited by the diversity of the attendee list so far.

Coming to Charlotte?
But what if you work at Bank of America or Wachovia? With the credit crunch, you may not be able to get your supervisors to pony up cash for an event with the flaky name of BarCampBank. Well, fear not, BarCampBankCharlotte is in the concept stage, and you can help make it a reality. Click through to the wiki and lend Josh Street a hand in organizing.

Stay tuned for more BarCampBanks
The other two in the nascent stage are another BarCampBankSanFrancisco, hoping to coincide with MacWorld in January 2009; BarCampBankMadison, being planned by Christopher Morris from the National Credit Union Foundation; and BarCampBankChicago, 16 July, in conjunction with the FDIC's Interagency Minority Depository Institutions National Conference. 

With all the changes happening in our industry, the focus on relentless innovation, and so much uncertainty about the economy, it's a good thing that there will soon be a BarCampBank near you.

William Azaroff has been an occasional contributor to NetBanker for the past year. His duties driving Online Strategy & Community Engagement at Vancity, Canada's largest credit union, keep him from writing as often as he'd like. He blogs at azaroff.com/blog

Looking for a low-cost way to generate new ideas and meet like-minded financial geeks? You have three opportunities during the next four weeks:

• March 29: BarCampBankSF -- Berkeley, CA (9AM to 5PM)
• April 5: BarCampBankNE -- Manchester, NH
• April 12: BarCampMoneyNYC -- Manhattan (9AM to 5PM)

As of today, there are 34 people signed up for San Francisco, a dozen for New England, and 24 for NYC. Cost is minimal, max of $25. Register in advance on the respective websites.

I attended the first U.S. BarCampBank held in Seattle this past July (previous coverage here). It was an interesting day that brought together a fascinating cross section of financial providers (mostly credit unions, no banks showed up) and technologists. However, other than Jason Knight of Wesabe, it didn't have that entrepreneurial energy that I expect at the BarCampBank San Francisco (BCBSF). And for those not wanting to trek across the country, there's BarCampBank New England (BCBNE) the next weekend (more info here).

BarCampBank San Francisco

  Date: 9 AM, March 29-30, 2008

  Location: UC Berkeley's Center for Entrepreneurship & Technology

  Time: 9 AM to whenever on Saturday followed by a half-day session Sunday

  Cost: $25 (register here)

  Agenda: None (see below)

  Scheduled speakers: None (see below)

  More info:

The aim of BarCampBank is to foster innovation and the creation of new business models in the world of banking and finance. Previous BarCampBanks have been held in Seattle, as well as London and Paris.

To ensure that the event is highly relevant for all those attending, the agenda will be discussed online beforehand (http://barcamp.org/BarCampBankSF) and then set by the participants the morning of the event.

Due to the large number of financial services startups in the San Francisco Bay Area, BCBSF will have a particular focus on bringing startups and industry together. So far, participating organizations include Wesabe, Boulevard R, NetBanker, Wikinvest, EverythingCU and Cake Financial.

The event, which is organized by volunteers, welcomes participation from anyone who would like to help with event logistics or spreading the word.

This past weekend, NetBanker sponsored an event called BarCampBank in Seattle. It's an unusual name for an unusual event. The name derives from an international network of events, which Wikipedia defines as "open, participatory workshop-events, whose content is provided by participants." It usually refers to "early-stage Web applications, and related open-source technologies and social protocols." In this case it was a loose, collaborative unconference about "innovation in banking, credit unions, social lending, or finance." It attracted close to 40 people—credit unions, banking experts, consultants and suppliers across the United States and Canada. It was unfortunate that there was no representation from actual banks.

The topics discussed included the use of social media, credit relief for third world countries, branching strategy, expectations of Gen Y and Millennials, mobile banking, and open-source core processors. Over the weekend, as discussions opened and progressed, the ideas were distilled down to a few themes.

• Banks and credit unions don't really know what it means to be customer-centric.
• The disintermediation that the industry has been seeing on the horizon for years seems to be occurring, and financial institutions had better get on board or lose market share.
• Are social media (blogs, social networks, wikis) an effective way to market and promote banks?
• What would a bank look like if one was built from scratch today?

There was a lot of talk that banks and credit unions only look after their own needs and don't pay enough attention to serving their customers effectively. There is a lack of bravery and responsiveness to their customers' needs. To most consumers, banking is a chore like going to the grocery store or the post office (and in the worst examples, the dentist). People want easy access to their money and sound financial advice; in many cases, that is not what they receive.

There were some very interesting and disruptive ideas. One big one that kept coming up was the banking equivalent of local number portability. You get an account number the first time you create a bank account, and you can move it from bank to bank to bank. An amazingly customer-centric idea. You neither have to change your bill-pay info, nor your direct deposit or pre-authorized payments. This is one of the main factors that keep people where they are, and would force the banks to differentiate based on service and product innovation. The pain of switching would be eliminated and people could change banks when they found a better option for them and not wait until they get so frustrated with their existing bank that they overcome their inertia.

Another theme that emerged, which will come as no surprise to NetBanker readers, is the brilliance of Wesabe.com's model. There is real passion in the way the founder and CEO Jason Knight describes the mission of his organization, which helps consumers make better decisions with their money. With a focus on showing consumers where their money can get them the most value, he doesn't see himself competing with banks at all, but offering a complimentary service. I wonder how many banks see the value Wesabe adds, and will work with it to give customers deeper insights into how they spend their money.

The people in the room were keenly aware of the echo-chamber effect created by being surrounded by those who feel similarly about social media. We were mostly proponents of the relevant use of social media to further the goals of a financial institution. But adoption of blogging, social networking tools and Web 2.0 technology by financial institutions is slow at best, and the number of successful implementations of these tools is few and far between. That honesty was refreshing.

There was an overwhelming feeling in the room that banking is ripe for a revolution. Interesting to come back from BarCampBank and see this insightful article on GonzoBanker about the demise of the banking industry as we know it. Many of these same themes were reflected in our dialogue. Money is too crucial in our lives to avoid big shifts ahead in the financial services sector. BarCampBank demonstrated that this is definitely an interesting time to be in banking.

Tomorrow, the most unusual conference in the banking industry, BarCamp Bank kicks off at 9 AM in Seattle's Pioneer Square historical district. It costs approximately 1/50th of a normal conference ($35) and has no set speakers, agenda, or sales pitches. It's just an excuse for a bunch of creative types to get together and talk about the future of money and banking. I'm very much looking forward to it.

Thanks again to Jessie Robbins for organizing the event. If you can make it to Seattle tomorrow or Sunday, you can still sign up here.  

The first thing we'll do tomorrow is brainstorm topics for group discussion. Here's my short(ish) list: 

• Outside the box: If you were to design a financial institution from scratch, disregarding all current regulatory constraints, what would it look like?  
• Alt delivery: Is online account access already old-fashioned? Do customers really want to log in to their bank multiple times each week or is there an easier and less intrusive way to keep consumers abreast of their financial lives?
• Social networks: Will social networks such as Facebook spawn their own virtual credit unions to serve the financial needs of members? Or will existing financial instructions step in to serve the need?
• Mobile finance: Mobile banking and payments are on their second trip up the hype curve. Is it real this time? If so, will mobile services be extensions of existing solutions, replacements for them, or an entirely new type of service?  
• Security: Financial security and privacy concerns remain top-of-mind with consumers. What role should financial institutions take in education, prevention, and resolution?
• Opensource marketing: With 15,000 financial institutions in the United States alone and most of them setting up shop online, it's absurd to think that your customers aren't looking around for the best prices. Why not follow the Progressive Auto Insurance model and actually enable price searches from your site?

I'll do my best to let you know what we come up with.  

Being somewhat older than the 20-something coders the frequent the Silicon Valley/Toronto/Paris/Austin BarCamp scene (Wikipedia definition, website), I'm not quite sure what to expect when the banking version, BarCamp Bank, comes to Seattle next weekend (July 21/22).

But simply knowing that the Trabian gurus, Brent Dixon and Trey Reeme, will be in attendance assures that it will be eye-opening and fun. There's also the king of banking social media, Ed Terpening of Wells Fargo as well as William Azaroff, Pierre Burns, and Monica Mashal from pioneering Vancity and Ben Morales the creative thinker behind many cool initiatives at Washington State Employees Credit Union. And so far, just one representative from the hot personal finance space, Marc Hedlund from Wesabe (here's the full registration list so far).

The idea is to gather a bunch of innovative thinkers in one spot, drink coffee, eat pizza and try to change the world, one payment at a time. All in one weekend.

It's beautiful in Seattle this time of year, if you can make it, drop your $35 into this form ASAP and I'll see you next week. Otherwise, we'll be writing about it of course.