210 Results from 2016, /retail
Retired Member
The open banking framework was published a couple of weeks ago by the open banking working group. Here I share my 10 most salient take outs in 10 headings. If you want to know what the 148 pages of the document really cover, read through this summary. Before we start, I think they have done a tremendous job. It's an excellent document, the proposa...
24 February 2016 /retail Innovation in Financial Services
Who would want to be the CEO of a major UK bank? Listening to Ross McEwan of RBS speak at a recent dinner, you could only imagine that he is looking forward to handing over the reins to the next masochist who puts his hand up. If it’s not capital adequacy, then its more rules and regulations. If it’s not operational footprint (“we employ a small...
24 February 2016 /retail
In 2014 the Internet of Things (IoT) landed at the top of Gartner’s Hype Cycle for Emerging Technologies replacing big data on the throne. Today, we are witnessing a revolution where wearables, connected appliances, health-tracking devices are getting thousands of new users each day. The prediction is that by 2020 we will have 25 to 50 billion dev...
22 February 2016 /retail
Konstantin Rabin Head of Marketing at Kontomatik
The mother of all European Union banking regulations, Payment Services Directive (PSD), was adopted in its revised version – the so-called PSD2 – by the European Parliament last October. This updated Directive imposes new duties on banks in order to make the financial ecosystem more competitive, safe and secure; ultimately, better for consumers. ...
Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions
In his blog post titled The Power of Location-Based Offers in Financial Services, Jim Marous, Co-Publisher of The Financial Brand, highlights how banks can leverage the proliferation of smartphones to make location based offers for cross-selling of banking and other third-party products at their branches. Let’s say a bank implements LBOs and an ex...
21 February 2016 /retail
Composable Banking Platform through Open Bank APIs 1 Introduction Someone wrote that the next couple of decades will see as much innovation as in the last 500 years. The technological accomplishments hitherto unheard and unforeseen include adaptive software, social networking sites, smart spaces, knowledge societies and enterprise mobilit...
16 February 2016 /retail
Companies that view default management as merely a cost of doing business are missing significant upside opportunities to become more customer-centric and competitive. A recent assessment of a major bank found annual debt-related losses exceeded recoveries by a factor of 10 to one. Whether in banking or any other industry, taking a more enlightene...
15 February 2016 /retail
Rich Wagner CEO at APS
When the banking system – and payments infrastructure in particular – was created, there was no consideration that anyone other than the banks would require access to it. How times have changed. With the UK's history of sophisticated financial services, it is unsurprising that we are now firmly on the global map for FinTech innovation. As the sayin...
13 February 2016 /payments /retail
On my smartphone, I have access to the entire knowledge of the world – or at least the parts that have been digitised. The question is can your cobbled-together, patched up legacy systems meet the demands of the modern world – and keep up with the smart technology on my phone? The brutal truth is that banking has done a great job of keeping up wit...
11 February 2016 /retail
Nanda Kumar CEO at SunTec Business Solutions
We recently took part in a Financial Services event in London attended by the High Street banks we all know and some newer names to banking, notably Atom and Tandem. The presentations pointed out both the challenge facing Challenger Banks as well the competitive advantages ‘Old Guard’ banks need to jealously guard. The UK is awash with challenge...
05 February 2016 /retail
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