/retail banking

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

Discussion
Commercialising Open Banking - digital identity, a key opportunity for banks?
Dharmesh Mistry

Dharmesh Mistry

  If your saying the answer is a national ID, where approved entities (banks) can act as validators of that ID..totally agree. I wouldn't want banks "owning" the ID. A lot to be learnt from places like Ghana and India.. https://www.linkedin.com/posts/dharmesh-mistry-b81207_platforms-platformeconomy-bank-activity-6756922764889731072-6qVW
Commercialising Open Banking - digital identity, a key opportunity for banks?
A Finextra member

A Finextra member

  Excellent and well argued analysis. Banks are rightly wary of big tech and other new entrants bringing to market attractive consumer-focused services, while the core asset of trust and identity that the banks uniquely hold is being ignored. Digital identity is the most compelling use case for banks to leverage open banking to deliver a much needed solution in the UK. As you say, ‘the solution is within our grasp’. 
Top Reasons Why Mobile Banking Will Thrive In 2021
Melvin Haskins

Melvin Haskins

  You need to differentiate between digital banking and mobile banking. You seem to mix and match the two and blur the lines between them. 5G takes mobile banking to a different level, but not neccessarily digital banking. Those people, like me, who do all of their banking on-line through a laptop on a secure home network, do not use mobile banking, but are a digital banking user. I do not trust the security on my mobile phone and do not put banking aps on to it. I do not need a telephone to make a payment. I have credit and debit cards to make them and value the security behind them.
Why neobanks have refocused from skyrocketing growth to reaching profitability
Joris Lochy

Joris Lochy

  Excellent article.  Many of the neo-banks will start to find themselves in a Catch-22 situation, when trying to switch to profitability, as they will start to look more and more like the incumbent banks they initially wanted to disrupt. The best remedy in my opinion, will be for neo-banks to focus more on a specific niche, in which they can excel.  Check out my blog on this at: https://www.finextra.com/blogposting/19706/neobanks-should-find-their-niche-to-improve-their-profitability
Andrea Melville

How has Covid-19 affected fintech trends?

Andrea Melville - Lloyds Banking Group
Retail Banking Analysis
See all Analysis »
Webinar - Trust over Tools: How to Stop Misinterpreting Consumer Desires
/event information

Webinar - Trust over Tools: How to Stop Misinterpreting Consumer Desires

Recent announcements by GooglePay and WhatsApp illustrate tech’s pursuit of disintermediation, signalling that interaction or conversation-based banking is a more natural evolution or preferred model to traditional and open banking structures.