/retail banking

News and resources on retail banking, consumer finance and reinventing customer experience in finance.

Discussion
Apple to turn iPhone into a payment terminal
Stephen Wilson

Stephen Wilson

  It is great to see iPhones reading NFC payment cards -- this has been a long time coming. Now can we extrapolate to reading verifiable cryptographic credentials more broadly? The mDL standard will bring NFC based driver licensing, with embedded attributes like age and residencey. Some eID cards are NFC-capable now.  With a little standardisation push, we could see a transformation to "tap-and-prove" for all personal credentials. https://www.linkedin.com/pulse/tap-prove-stephen-wilson
Upsurge in customers switching accounts for better online services
Jehan Sherjan

Jehan Sherjan

  Very interesting findings that demonstrate the continued value of simplicity and support when it comes to brand loyalty. SRM’s own research emphasises the importance of customer experience, with "ease of use" and "great service" the two primary factors for current account customers when selecting – as well as staying with – a brand. Service is, of course, about more than just effortless digital functionality, not least as it really comes into its own when customers need or want human support.
ECB to run climate risk stress test
A Finextra Member

A Finextra member

  let's hope the ECB takes a holistic approach and includes stress tests of the risk to the banking sector and wider economy of the unintended consequences of climate policies - for example, the misallocation of capital over the past decades to green energy infrastructure which has led to the current energy crisis in Europe with its repurcussions for inflation, economic growth, security, poverty and energy dependent production such as food
Meta considers selling off Diem assets as Zuckerberg's crypto ambitions crumble
Ketharaman Swaminathan

Ketharaman Swaminathan

  Yet another fintech initiative for which middleground between Leveraging Regulatory Gap and Waiting for Godot has not worked. Fintechs Need Guts More Than Lawyers