What’s the Chase?

Tanya Thourani has been reflecting on Chase’s entry into the UK’s current account banking marketplace: Source: Tanya Thourani Tanya asks: Will you value a modern offering from an established financial institution or a more established offering from a modern institution?Last month, JPMC launched a digital retail bank in the U.K, challenging the British rivals (Neo +... Continue Reading →

A question of trust

Ahead of last week’s Money2020 event Anne Boden (CEO over at Starling Bank) has been gathering her thoughts on trust in the banking industry and the future of embedded finance. OK, I’ll say it. A lot of people don’t trust banks. This was, in great part, a motivation for the creation of Starling. Dissatisfaction with banks was... Continue Reading →

Happy St. Lubbock’s Day

Bank Holidays in the UK were introduced in 1871 by banker and politician John Lubbock, the first Baron of Avebury.  As well as his banking and political activities Sir John was also a scientific writer and tried to teach his dog to read. According to Horace G. Hutchinson in the Life of Sir John Lubbock,... Continue Reading →

Accessing digital services with Bez and Nancy

The Bank of Ireland has launched a video tutorial series to give customers the skills and confidence to use digital banking services. In March, the bank outlined plans to shut a third of its branches as it reaches a digital "tipping point" between online and offline transactions - a long-term trend accelerated by the Covid-19... Continue Reading →

Latest articles

Here's a selection of articles written by Mike Chambers which have recently featured in third party publications: PCN Magazine - July 2021 Have digital options even replaced the petty cash tin? Click on the image to access the article. Global Banking & Finance Review - July 2021 The transformation of payments during the pandemic Click... Continue Reading →

Top 5 takeaways: Consumer Digital Banking Survey

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... Continue Reading →

Converting pounds into kilograms

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... Continue Reading →

No time to stop, the Revolution is here to stay

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... Continue Reading →

Five ways for a Fintech to make money

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... Continue Reading →

Payments modernisation programmes

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.... Continue Reading →


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? https://youtu.be/MctlwClGhGw

Banking 1980’s style

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... Continue Reading →

Will you build a wall or a windmill?

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,... Continue Reading →

Meet the trailblazers

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,... Continue Reading →

Banking on IT

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... Continue Reading →

Wooden debit card

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... Continue Reading →

Mobile banking app review – junior edition

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... Continue Reading →

Happy 50th Birthday!

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... Continue Reading →

The first banking disruptor?

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 -... Continue Reading →

Current Account Switches begin to rise

The number of people switching bank accounts is starting to recover according to data just published by Pay.UK. 43,377 Current Account Switches occurred in August 2020 - a significant uplift when compared to the past three months, similar to April but still a far cry from the 111,327 switches that occurred in March. Read, subscribe... Continue Reading →

Personal banking service quality

Ipsos MORI have published results of an independent service quality survey of personal banking in Great Britain. The results are from an independent survey carried out between July 2019 and June 2020 by Ipsos MORI as part of a regulatory requirement, and the information is published at the request of the providers and the Competition and Markets... Continue Reading →

Banking in the age of the robot

This article first appeared in the Payments, Payments, Payments newsletter – read, subscribe and share: northeypoint.substack.com/welcome Banking in the age of the robot is the first in a series of trends papers which investigate social and economic contextual factors that are influencing millennials’ attitudes towards and engagement with the financial system.  The paper provides a snapshot... Continue Reading →

IBAN: The only bank account format you’ll ever need

What is an IBAN? … and why would I need one? Jonathan Williams, Director, Mk2 Consulting Standardisation is generally a good thing, at least that’s what ISO – the International Organisation for Standardisation – believes, and this applies to financial transactions more than most. The International Bank Account Number – pronounced “eye-ban” in the UK... Continue Reading →

Northey Point’s Bookstore

Recommended reading: Add them to your reading list and let me know what you think. The Currency Cold War by David Birch The way that money works now is a blip. It’s a temporary institutional arrangement agreed in response to specific political, technological and economic circumstances. As these circumstances change, so money must change. Many... Continue Reading →

Current Account Switch volumes impacted by COVID19

Pay.UK have just published the monthly Current Account Switch Service data for April 2020. The Current Account Switch Service (CASS) has completed 6.6 million switches since launching in 2013, 280,520 of which took place between January and March 2020. Despite the impact of COVID19, March saw the third highest number of Current Account Switches since... Continue Reading →

Switching winners

Today, 30 April 2020, saw the publication by Pay.UK of the Current Account Switch Service Dashboard covering the period 1 January to 31 March 2020. The Current Account Switch Service (CASS) has completed 6.6 million switches since launching in 2013, 280,520 of which took place between January and March 2020. With much talk of the... Continue Reading →

Making It Happen

'A compelling account of Britain's worst ever banking failure; as you read you will laugh, cry and fume'Robert Peston https://www.amazon.co.uk/gp/product/1471113558/ref=as_li_tl?ie=UTF8&tag=northeypoint-21&camp=1634&creative=6738&linkCode=as2&creativeASIN=1471113558&linkId=78c6bb0645aa6dbe97cb16ee5a139fa9 I was in two minds as to whether I ought to read ‘Making It Happen’ but these events had a significant impact on my time leading the UK’s retail payments system – if you were... Continue Reading →

Christmas Reading List

When talking about payments I often mention books that have been useful to me as I continually seek to expand my payments knowledge. From first principles of banking in Bank 4.0, feeling good about money in The Money Revolution, C-Level's being comfortable on social media in The Social CEO, to a history lesson on Barclays... Continue Reading →

Video: Future of UX for Fintechs: Is the branch dead?

Last month GBG hosted a meetup for fintech and UX professionals to ask the question: Is the branch dead?  Our moderator for the evening, Mike Chambers, Director at Eazy Collect and EPA Ambassador, was joined by was joined by Metro Bank’s Head of Design Jay Tulloch, Sekura Digital Group's CEO Mark Harvey, and GBG’s Head of UX Henry Thomas, for a lively discussion... Continue Reading →

FinTechs: Threat or partnership opportunity?

FinTech sector raising record sums The UK’s fintech sector raised more money in the first half of the year than in any equivalent period on record – a remarkable £1.7bn according to data just release by the growth company market analyst Beauhurst. The sector raised so much money that 2019 is already a record year... Continue Reading →

Mutual value through partnerships

Over the past few weeks I've been involved in working with a number of clients on proposals for new business - mostly these proposals have been FinTechs seeking to work with larger incumbent organisations. With the number of Bank / FinTech partnership deals increasing where will mutual value be found? Recently I attended a bank... Continue Reading →

The Money Revolution by Anne Boden

A couple of people have asked me what I think of The Money Revolution by Anne Boden. If you read just one book about managing your finances this is the book. Accessible, practical and relevant advice about taking control of your money, building wealth, conducting a smart money makeover & clever borrowing. Chapter by chapter... Continue Reading →

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