As competition in payments has increased, data has long been touted as the cure-all for incumbent banks. If banks could charge a transaction fee for every time they are told that ‘data is the new oil’, then there would be no need to worry about competing. But the inconvenient truth is that despite the vast amount of customer data that banks sit on...
04 May 2021
Remaining competitive in payments is the key to future relevance and profitability for incumbent banks. But with incumbents now competing on multiple fronts against various players, how can they stay ahead of the competition? 1) Reshape attitudes towards data With the competition eroding banks’ traditional margins, a shift from a transaction-b...
21 April 2021
For several decades, incumbent banks have held a comfortable leadership position in payments. But the rapid growth of digital payments has signalled opportunity for new market entrants to attack this status quo. To develop effective strategies to stay ahead, incumbents must understand who their competitors are now, and assess how their strengths an...
01 April 2021
05 February 2021 /predictions
Bonkers in my view! Just give customers the choice... it's not the banks data or the Dutch DPA data.... it's the CUSTOMERS to do what they want with. European regulation overeach writ large. Would be MUCH better to spend their attention on enforcing rules that allow customers to simply and easily control access to their data (have they looked recently at the options on most websites cookie consent etc.?)
10 Jul 2019 08:04 Read comment
Mike. I like the angle... but I have to question your final conclusion... "All of which will lead to better economic forecasting and ultimately more effective policy decisions." Assuming our politicians make decisions based on data (and therefore logic) is a big leap... whilst there is opportunity the actual impact, I think, will be much less!
08 Nov 2017 10:36 Read comment
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