157 Results from 2014, /retail
Retired Member
In the last three years Tesco, Virgin Money and Metro Bank have entered the banking market as challengers to the big four UK banks - HSBC, Barclays, Lloyds and RBS. With customer trust in banks at all-time low following recent financial crises, does the banking arena need more new entrants and what differentiators do they have to offer? Tesco now ...
05 March 2014 /retail
Elton Cane Digital product delivery at News Corp Australia
I came across an interesting blog post recently about how the untrained human brain is disadvantaged when it comes to recognising or thinking about big numbers. These limitations, and reliance on gut feel and framing analysis via proportionality not only play into the hands of car dealers looking to upsize customers to the next model up with ext...
03 March 2014 /regulation /retail Future Finance
The Governor of the Bank of England, Mark Carney, announced on 18th December 2013 that all £5 and £10 banknotes in circulation will begin to be printed on polymer rather than cotton paper from 2016. This decision followed a three month public consultation process around the UK and an internal review. I am very disappointed in this decision and have...
27 February 2014 /payments /retail
Scenario: What comes to your mind when you think of the future of electronic payments? Would you use your phone /nfc card/mobile wallet/ or something else? What are the key parameters when you dream about the future? a) Behavior – How does the typical user behave? b) Convenience –One less device to charge and one less password to remember? c) Unive...
27 February 2014 /retail Payments strategies 2015-2020-2030
I need to improve my customer experience…oops, I just sent costs through the roof! I need to be compliant, but now my customer experience is just nasty. I need to sell more, but my marketing budget is less than last year! I need to be a magician to balance all these needs and goals! How can I possibly make it all happen at the same time? There ...
21 February 2014 /retail
There was a skit on Saturday Night Live many years ago about a game show based on directions for getting around New England, and one of the punch lines was, "can't get there from here". Today, many large banks are finding this to be true when it comes to restoring their returns on equity (ROE) to pre-Global Financial Crisis (GFC) levels....
19 February 2014 /retail Innovation in Financial Services
Alex Noble Account Director at McAfee
It’s been an interesting week for those interested in Financial Services and how biometrics could be used in the industry. It was the subject of my last post on Finextra (“Voiceprints can counter ID theft, but other threats remain”), looking at Barclays’s use of Nuance and Cisco Voice Portal and last week on Finextra brought out some of the indust...
Finding the right balance between innovation and regulation is no easy task. The past four to five years have seen the banking sector try to adapt to a more tightly controlled environment, as the fallout from the financial crisis has brought a host of new regulations Though few would debate that changes were required, putting programmes in place t...
10 February 2014 /regulation /retail Financial Services Regulation
The answer is in the palm of your hand. The US retail giant, Target, has recently been in the press for all the wrong reasons. It's estimated that 110m of its customers have been left open to identity theft. Target joins Sony, TJX, Shell, Lush and many others compromised by this. The result has been a war of words over new security standards betwe...
07 February 2014 /security /retail
Last month Ed Miliband urged UK banks to sell off bank branches as part of the Government efforts to reduce market centralisation and boost competition. As banks are increasingly looking to move to mobile and digital channels and undergo major structural changes, their shortcomings in terms of technological capabilities are becoming more apparent....
05 February 2014 /retail
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