Trends in Financial Services

A community to discuss the future of financial services and any other interesting trends, strategies, ideas, views.

Nanda Kumar CEO at SunTec Business Solutions

Can customer-centricity solve banks’ productivity problems?

Today banks face a major profitability challenge 2018 is set to be a momentous year for banks as transformative regulations come into play. PDS2, MiFIDII and GDPR have been announced to be earthquakes that will shake the entire banking industry. While we may not yet see their full effects, we are already feeling the tremors. The transformation e...

01 June 2018

Freddie McMahon Director Strategy and Innovation at DF2020 Ltd

Is Machine versus Human a suitable sense-making framework for AI?

AI (artificial intelligence) including derivatives such as RPA (robotic process automation) have become increasingly popular, at least within conversations by the growing and growing ‘in crowd’. AI is a generic term with an incredibly broad and deep subject matter, representing a diverse range of capabilities and applications. AI is so topical that...

11 May 2018 /ai

Retired Member 

Visa Claims Resolution and Merchant Liability

At last - The ‘Beast from the East’ has given way to an African heatwave! Which is great news for retailers, since better weather motivates consumers to refresh their wardrobes, book holidays and spruce up their homes. All good things for merchants. However, a rise in spending also leads to a rise in chargeback claims (the return of funds to a con...

09 May 2018 /payments /retail

Retired Member 

Consumer driven technology adoption driving innovation in mortgage technology

Consumer driven technology adoption is driving many of the changes we are seeing in the mortgage market, influencing lenders and mortgage intermediaries. In the 2018 Intermediary Mortgage Survey I conducted recently, it is clear from this year’s survey responses that technology is becoming increasingly central to intermediaries’ and lenders’ think...

30 April 2018

Bob Lyddon Consultant at Lyddon Consulting Services

Call for the withdrawal of Wolfsberg Group guidance on SWIFT Relationship Management Application

Occasioned by the recent Financial Standards Board reports on Correspondent Banking and on Remittances, I am of the opinion that Wolfsberg Group's 2016 “Wolfsberg Guidance on SWIFT Relationship Management Application (RMA) Due Diligence” should be withdrawn. I have sent a paper to the Wolsfberg Group to this effect. The guidance has given a clean b...

09 April 2018 /payments

Gavin Scruby CIO at SmartDebit

Does Open Banking mean the end of card payments?

The first generally useful application of Open Banking is here in the UK. While it will be some time yet before it gets much use, new organisations soon will be able to initiate payments between bank accounts on a consumer’s behalf. This creates a new layer between consumers and banks, hopefully spawning novel ideas and services. Moving the centre...

25 March 2018 /payments

Jeremy Light Co-founder at Fourdotzero

Network Effects - the Forces Driving Ongoing Payment Trends

My concluding blog on trends focuses on the ongoing payment trends, those that are already strongly established and which will continue in 2018. The momentum towards a “less-cash” society increases in developed economies, including the US, Australia and Europe, primarily driven by adoption of contactless bank cards, causing reduced cash usage and ...

05 March 2018 /payments /retail

Dennis Gada Vice President, Financial Services at Infosys

Five ways fintech is disrupting the financial services industry

Fintech is the buzzword within the banking industry. It refers to the use of technology across all financial services functions. For instance, the simple task of replacing paper-based processes with software and applications is an example of fintech at work. Previously, fintech was mainly used for back-office functions by leveraging software to hel...

05 March 2018 /ai

Tristan Blampied Director, Head of Domestic Payment Products at Barclays Corporate Banking

Are you ready for Pan-European Real-Time Payments?

The digitalisation of the economy has transformed how consumers and businesses purchase and pay for goods and services. With a thumbprint, a tap of the wrist, or simply a glance of the face to our phones, we pay for lunch or coffee. We are rapidly moving towards a cashless society, and purchases from our smart devices can be made anytime, anywhere...

02 March 2018 /payments

Jeremy Light Co-founder at Fourdotzero

Payment Trends for 2018 Part 2 - Growing Trends

My blog last week covered New Payment Trends that I expect to become established this year. This week I focus on Growing Payment trends, those that are already evident and likely to strengthen in 2018. Growing Trends Propositions using PSD2-compliant APIs will appear gradually. Expect bank and Fintech applications such as account aggregation and p...

26 February 2018 /payments