Sarah Rutherford at FICO has commissioned a survey of 1,000 adults in each of fourteen countries to canvas them about their attitudes to opening a range of different financial accounts digitally using websites and apps. Sarah reports that there were some very interesting findings and some results that challenged her pre-conceptions and received wisdom! Sarah’s top five insights are: Digital […]
Can green Fintech’s save the planet? In the latest edition of #fincuts Tanya Thourani asks: How cool is it if your card doesn’t just buy things but fights climate change? How cool is it if Fintechs could convert pounds into kilograms of carbon emitted? Can you tell which is killing more turtles: the plastic straw or your friend’s flight from London to Milan? […]
Mark O’Keefe at Optima Consultancy has published a German Mobile Banking App review. Three take aways from Mark’s report: The challenger banks continue to raise the bar when it comes to what can be done in a mobile banking app. New entrant C24 have launched with a proposition stronger than most in the market and challengers continue to release features at a rapid pace. A […]
Tanya Thourani has been thinking about how Fintech’s make money and has come up with five models: Nice & Simple : Subscriptions or Service Fees. Make it count : Brokerage Fees. Most Lucrative : Third Parties. Oldest Buddy : Advertising. The Gold Mines : Data & APIs. Read Tanya’s blog: Five ways for a Fintech to make money.
Fintech Rap Battle from Fintech Finance. Tom Blomfield and Monzo, take on Anne Boden and Starling in a throw down to decide who is the ultimate challenger bank.
Many payments systems around the world are being improved or rebuilt to serve the needs of a modern, digital culture. Payments System Modernisation is a huge challenge that affects the entire payments ecosystem. XMLdation have created an Infographic that shows the breadth of the impact globally for real time, high value, and other types of payments. The infographic covers: Examples of […]
Imagination: What could you do with a loan from Barclays? Earlier this week I posted an assignment from my late 1980’s Chartered Institute of Bankers course – this led me to wonder how did my fictional South East Bank pamphlet compare with real bank adverts from the late 1980’s?
When studying for my Chartered Institute of Banking exams as a Grade 1 Bank Clerk in the late 1980’s little did I know where my banking career would take me! My roles in product management, as the CEO of systemically important payment systems, my responsibility for the live launch of the Current Account Switching Service and being chairman of the […]
When the winds of change blow some people build walls while others build windmills As the old Chinese proverb goes, ‘when the winds of change blow some people build walls while others build windmills’. Firmly in the windmill camp is Gavin McLean, head of product – payments, at Lloyds Bank Commercial Banking, part of Lloyds Banking Group, which is involved in one […]
Would you like to find out how to build profitable banking services? Manifesto Growth Architects have joined forces with Vacuumlabs to guide you through the process. Join Manifesto’s Banking 2021 virtual event to find out more and meet the industry experts who will share their knowledge and experiences: ◦ Nigel Sirett| Vacuumlabs◦ Joanna Levesque| Manifesto Growth Architects◦ Neil Harris| Global […]
The Inclusion Foundation highlights that 1.23m of the UK’s most vulnerable do not have access to a bank account and such disadvantaged segments of society find it very challenging to pay and get paid. They report that the problem is being further exasperated by the social isolation measures put in place to curb the spread of COVID-19, which is having an unintended […]
Banking on IT: How I Disrupted an Industry by Anne Boden BANKING ON IT is the first-hand account of one woman’s quest to rebuild Britain’s broken banking system. After a lengthy career at the top of some of Britain’s leading banks Anne Boden had become disillusioned with the status quo – the financial crash had broken trust in the whole […]
Forget your flash metal debit cards, eco-friendly search engine Ecosia has invested £1 million for a 20% stake in TreeCard, a wooden payment card that channels profits from merchant surcharges into reforestation programmes. TreeCard comes with an app that lets users track spending, split bills with friends and monitor how many trees have been planted as a result of user […]
Mark O’Keefe’s (Founding director at Optima Consultancy and PSR Panel member) nine year old daughter has produced her own version of the Optima Consultancy banking app review, Amy’s review covers junior accounts. Which account does she think a child would say is best out of goHenry, Starling Bank, Revolut and RoosterMoney and why? What advice does she have for Anne […]
On this day in 1958 the credit card industry was born – and who better than Dave Birch to help us celebrate! In an article published today by Forbes Dave writes: Today is a very important day for us payments nerds. It is the anniversary of the “Fresno Drop”, the birth of the modern credit card industry, a day that […]
In 1984 one UK bank was concerned about losing customers and made a decision that fundamentally changed how Britain’s banking landscape operated. Midland Bank, then one of the UK’s big four banking groups (now HSBC), got rid of fees for cheques, statements and standing orders. In other words, it made banking free of charge – although it might be better […]