Figures published today by LINK (the operator of the UK’s ATM switch network) report a stark reduction in ATM cash withdrawals. January 2018 saw 228m ATM transactions, in January 2019 this reduced to 209m transactions and last month the number of ATM transactions in the first month of the year fell for the third year running to just 185m. A […]
In the Middle East this week talking payments strategy. The UK’s Faster Payments system was described as ‘the granddaddy of all instant payment systems’, this made me proud of what we have achieved in the UK payment space (and my small part in it!) What also became clear is that every deployment of an instant payment system faces the same […]
The first ATM was unveiled at a branch of Barclays in Enfield in north London on 27 June 1967. Barclaycash was the UK’s first automated cash point and Reg Varney of ‘On The Buses’ fame was the first person to withdraw cash from the machine. Barclays being the first bank to install a cash machine and Reg Varney being the […]
Just five banks achieved a net gain in customers in Q3 2019 according to figures released today (23 January 2020) by Pay.UK, the operator of the Current Account Switching Service. In first place was Nationwide Building Society who gained 25k customers during the quarter closely followed by challenger bank Monzo who gained 21k customers. HSBC with 17k switchers, and Starling […]
I didn’t recommend ‘For The Record’ by David Cameron in my recommended reading list. However, maybe I should have done as David’s memories of Downing Street includes a memorable shout out to my contribution to the UK’s payments landscape. “Challenger banks like Monzo grew out of the reforms that made it easier for people to change their current accounts by […]
From Finextra: Lars Sjögren, CEO, P27 & Liz Oakes, EVP, Market Development, New Payments Platforms, Mastercard, speak at NextGen Nordics: P27 Momentum about moving the Nordics from a fragmented landscape into one platform to improve security and encourage collaboration, the ambition involved in creating this cross-border, multi-currency platform and the importance of transparency around conflicting interests between competitors.
Checkout the latest Fintech Insider podcast: Chime quadruples valuation in less than a year (03:30) Robinhood tops 10 million accounts (15:48) Goldman to bring wealth management to the masses (31:32) Paul A Volcker, Former Fed Chairman, Dies at 92 (37:57) SoFi founder raises $100 million for new company (40:40) Andreessen-backed fintech’s ‘abusive’ boss sued for gender bias (49:50) One-digit sort […]