Latest opinions that Derek Garriock has shared on Finextra

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Derek Garriock

Innovation Director

Experian

Member since

04 Nov 2013

Location

Edinburgh

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Derek's opinions

Navigating the best path through the fire hose of data

We’re all living in a data-rich world with a non-stop fire hose of personal information. The challenge faced now relates to the accurate and critical analysis of the constant flow of data we’re presented with. Understanding it delivers key insights into how to effectively reach, prospect, win, retain and appropriately serve legitimate customers. ...

17 December 2015

Money is an important issue for the majority. Consequently, where a person banks is too.

With new entrants joining the banking world, individuals have more choice, and there is increased competition for the sector. However, for new entrants, encouraging people to switch to them from the established providers will be no easy task. Our recent research found that 70 per cent of UK adults still ‘trust’ a traditional bank or a building soc...

14 May 2015 /payments /retail

Will smartphone payments outpace credit and debit cards by 2020?

Recent research has suggested that by 2020, credit and debit card payments will no longer be the preferred method of payment, with paying by smartphone taking over. If this expectation becomes reality it will signal a remarkable milestone in the meteoric rise of the smartphone. While cash and card payments still currently dominate, there is a la...

30 April 2015 /payments

Branch vs Digital - The account opening battleground

Recent research on account opening from McKinsey looked at the sales conversion rates for branch versus digital and found what looks like a huge gulf in success. The research suggested that in-branch sales converted at a rate of 85% whilst digital channels averaged a 15% conversion rate. At first glance these figures suggest that branch is king wh...

09 March 2015 /retail

SEPA and 2015 - 3 Predictions For Corporates

This time last year adoption rates for The Single Euro Payments Area (SEPA), particularly for direct debits, were still woefully low. For those who are unaware, SEPA is a payment-integration initiative from the European Union for the simplification of bank transfers denominated in euro. Its aim is to improve the efficiency of cross-border payments...

20 January 2015 /payments