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In Part One I wrote about the problem with the UK banking model and why it undermines the UK economy. In summary, banks need to lend to make their current account model work; this helps a lot of peopl...
One of the biggest questions in modern banking is how branches can maintain their relevance in an increasingly digital age. Usage of mobile and internet banking has grown exponentially, but bank branc...
At the latest Apple Worldwide Developer Conference (WWDC) in San Jose, June 17 2017, Apple confirmed the rumours that they will create their own payments service which will be linked with Apple’s mobi...
In 2014, the “age of the customer” was born as a phrase and remained largely abstract. But fast forward just a few years and in 2017, it is the holy grail for businesses – especially banks. We have no...
25 JUL 2017 Disclaimers: I am not a disinterested commentator. At my company, we compete with the model of the banks. We are not anti-borrowing. People need to borrow to fund all sorts of things in t...
Today’s financial services institutions are under increasing pressure. Growing consumer confidence, regulatory change and the rise of fresh-faced fintech start-ups means competition in the space is st...
Credit unions have been a hot topic for me this week. I have had two completely independent conversations with people about them. On Tuesday night I met a chap from the US at an investor summit who me...
The financial services industry is going through an almost unprecedented period of change. Whether political, regulatory, societal and technological, a range of forces have been at work to shift the l...
So, imagine you are CEO of a major British bank. You’ve got a problem to wrestle to the ground. Who do you really want to have as your customers? It’s not as easy as saying “anyone”, (which is the
Dear Banks, Thank you for your branches. For the long queues, the tasteless coffee and the free crackers while I have to wait for two weeks in your branch to open a bank account. Thank you for clearin...
Well, the short answer is some are making deep organizational changes with their sales culture, and others are only getting started. Recently, I met with a number of banking customers for pre- and po...
It’s easy to see why the onus is on financial service providers (FSPs) to digitally transform. Forty-six percent (1) of customers are now willing to use robo-advisers. Nearly 60 percent(2) of custome...