The Brave New World Embraces Failures as Learnings
Jan05

The Brave New World Embraces Failures as Learnings

We have great affinity with Chris Skinner and his blogs regularly hit home. In this – a list of predictions for 2017 – he discusses, amongst other things, that the investment in innovation is changing.  From our own experience, we would concur that Innovation is indeed slowly moving out of the labs and into real-time time testing and that the way to collaborate with FinTechs has to be in the cloud (APIs) but outside of the core...

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2017 in UK Retail Banking: What’s Hot and What’s Not
Dec19

2017 in UK Retail Banking: What’s Hot and What’s Not

2016 has been a very busy year and my team and I have been out there meeting with and talking to banks big and small and FinTechs in their hundreds. It’s been enlightening; I’ve learned so much from so many and after consolidating sentiment, data and experience, I’ve chosen five things that I think are hot and five things that – for whatever reason – are not for UK Retail Banking in 2017.   What’s Hot The Sandbox: Whether it’s...

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Dropping the curtain on ‘Innovation Theatre’: Part Four
Dec02

Dropping the curtain on ‘Innovation Theatre’: Part Four

“40% of bank C-suites have zero technology experience.” Over the last 13 years, the team at Monitise has had the fortune of working with some real visionaries – both within our own team and at our clients and partners. People that know the future is coming, know the role that technology can play, get the commercials, see the hurdles and have the strategies to overcome them. In technology, ‘disruptors’ and risk takers are...

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Dropping the curtain on ‘Innovation Theatre’: Part Three
Nov30

Dropping the curtain on ‘Innovation Theatre’: Part Three

“Trying to work with a bank is painful at best” Steve Lemon, Co-Founder of Currencycloud In his opening talk on Monday, Alastair Lukies, the UK Prime Minister’s Business Ambassador for FinTech compared running a FinTech in the UK to being the baby iguana running for its life from the racer snakes on the BBC’s Planet Earth. Having been one of the early ‘FinTechs’ and spent a lot of time with the members of our FINKit Partner...

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Dropping the Curtain on ‘Innovation Theatre’
Nov24

Dropping the Curtain on ‘Innovation Theatre’

We have written extensively about the frustrations associated with the ‘Innovation Theatre’ that is all too prevalent in the retail banking industry. Labs, hackathons, redesigned receptions, dedicated teams based in Shoreditch – the list of tactics is extensive in the attempt to mask the reality, which is that very little is being done to get real innovation into customers’ hands. This is frustrating for the countless FinTech...

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Announcing our FINKit Partner Programme
Nov16

Announcing our FINKit Partner Programme

Today, we announce our FINKit Partner Programme, something I’m immensely proud of. You can read the announcement for yourself by following the link on this page, but I wanted to put some human narrative around what we have done and why. Firstly and quite purposely, we haven’t gone for a marketplace approach of ‘sign up and suit yourself’. Instead, my team and I have assessed over 120 FinTechs and Service...

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Friday FT Reflections
Sep16

Friday FT Reflections

At the beginning of the week, Retail Banking Correspondent for the Financial Times, Emma Dunkley wrote a report ‘Fintech startups put banks under pressure.’ It’s been passed around the office over the last few days and debated at length. Broadly, the article covers the various routes that banks are exploring to fend off the perceived challenge from faster moving, legacy-free startups: Creating FinTech projects themselves Launching...

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Innovation at the edge
Aug10

Innovation at the edge

The CMA’s report this week shouldn’t really have surprised anyone within the retail banking sector. We’ve spent years in Hackathons, Innovations Labs and Consumer-pilots, but is this visible to your average retail banking customer? Of course not. Banks – despite their best efforts (and some of the pilots are extraordinarily forward-thinking, despite what you might think) – are perceived as slow to react; their efforts are invisible....

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Consolidate Alerts: Centralize to communicate
Apr06

Consolidate Alerts: Centralize to communicate

Low balance, unauthorized transaction, overdraft protection, payment threshold reached…there are so many reasons for a financial service provider to communicate with their customers…and they do. Financial Institutions (FI) have multiple use cases for alerts that come from different data sources. These can range from third parties like bill pay providers or their card processor, delivering alerts inconsistently and with no...

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The untapped potential of mobile alerts is 2-way
Feb10

The untapped potential of mobile alerts is 2-way

2-way alerting has been with us for quite some time. The potential to have a conversation with a customer without calling or going into a branch was around before people were getting excited about flip-phones. With customers tapping into mobile banking almost daily; mobile alerts must be exhausted as a communication channel right? Not exactly. As we all know, technology has come a long way with smartphones enhancing engagement between...

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