“Innovation is the whim of an elite before it becomes a need of the public.” — Ludwig von Mises

Here’s a good resource mentioned by a friend that knows a thing or two about trendspotting. He was wearing trucker caps months before Ashton Kutcher so it makes sense that he would turn me onto Ubertrends.

At Ubertrends, Michael Tchong writes a monthly newsletter that give you the scoop on fast-moving trends. From time to time, he even mentions trends in personal finance as he does in the current issue.

Two noteworthy bullets:

A Latte With Your Loan? He points readers to Jane J. Kim’s article from The Wall Street Journal Online. She writes, “The staid bank branch is getting a makeover. As competition for deposits intensifies, a number of banks are trying to capture customers’ attention by revamping their buildings to look more like coffeehouses and retail boutiques, and less like the stodgy brick-and-mortar operations of old. The new designs stress more open spaces and softer lines to create a less-formal environment, and more common areas and activities to encourage people to linger longer — and get them to shop for more banking products.”

My big question of the day is… when was the last time you actually went into the bank branch? I do everything at the ATM or online. It seems like banks should be spending more effort on bettering the online user experience and services instead of making the banks nice and comfy like a coffee shop. If they offer free WiFi then perhaps I might stop in.

Here’s another one. You have to scroll down into the body of the Ubertrends newsletter to find this the blurb called: Banking On Women. It refers you to a site called Springwise and they write about the first bank for women in Austria. Odd to me that it’s located in Gastein and not London or Brussels.

“Austria’s first bank for women was recently opened by Raiffeisen in the ski resort town of Gastein. The concept was developed in association with Emotion Banking, which conducted extensive studies about women and finances, and how they interact with banks.”

“Emotion Banking came to the conclusion that women approach finances differently than men do, and that a dedicated bank for women would better serve Raiffeisen’s female customers. The current set-up includes an inviting lounge-like interior with a play area to keep children occupied. Female employees assist customers, taking extra time to explain products thoroughly, and to build a strong relationship with their customers.”

“The concept might be a first in Austria, but isn’t altogether new on an international scale. From Citigroup’s Women & Co to the Royal Bank of Canada, many financial institutions are recognizing that women often have their own needs and goals when it comes to money and finances.”

“And this segemented market is continuously evolving; according to a recent report by research firm Aite Group. Highly-educated women leaving the U.S. workforce to raise children are creating a new, highly lucrative consumer segment for financial firms.”

The group calls this segment, “Ivy League Moms” and it’s growing every year. My second question of the day: where do Ivy League Moms get their money to be a highly lucrative consumer segment for financial firms? From Ivy League Husbands? And on that note, I’ll let us all get back to making money on a Monday morning.