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At the annual Lithium Technologies LiNC conference in April, I heard about an innovative approach to credit cards in the Banking industry that is built on the core ideas of social business: a community-driven credit card fromBarclaycard USA. This is a solid business product that makes sense to customers, supports the business, and combines financial responsibility with the engagement of its customer community.

This is more than just an attempt at shifting customer support to online, but a redesign of well-known product (a credit card), where customers have become stakeholders. They have transparency to the success of the product with visibility of the P&L statement, input into P&L decisions and by educating each other to become more financially responsible.

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Paul Wilmore (photo: Rawn Shah)

Paul Wilmore (photo: Rawn Shah)

I spent 30 minutes with Paul Wilmore, Managing Director for Consumer Markets, Barclaycard USA to talk about what makes their model different and what they are learning from this new product model designed around social business principles.