Banking On Data: The Path to a New Bank Operating Model
Jun21

Banking On Data: The Path to a New Bank Operating Model

I was delighted to be asked to contribute last night to BrightTALK’s ‘Banking on the Future’ meet-up event. A very well-attended event here in London and broadcast to hundreds of online registrants across the world. The theme of the event was how banks need to react to regulations such as PSD2, GDPR and here in the UK, Open Banking.   BRUTE FORCE ISN’T THE DATA SHARING PANACEA It is clear that the ‘brute force’ approach to...

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How Can Banks and FinTechs Collaborate?
Jun19

How Can Banks and FinTechs Collaborate?

It’s much talked about within the walls of both parties: How Can Banks and FinTechs Collaborate? Banks and FinTechs have much to gain from working together. Traditional retail banks get access to the latest technology and opportunities for digital innovation, while FinTechs get closer to their biggest potential customers and a valuable distribution network for their products and services. Our work connecting FinTechs and retail...

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Making a Bank FinTech Partnership Actually Happen
Mar22

Making a Bank FinTech Partnership Actually Happen

More or less everybody working in and around banking is talking about Bank FinTech Partnership; with collaboration as pretty much the only viable way forward for either side in the disruptor-disrupted equation. But there’s much less talk about how banks and FinTechs can make that vital collaboration actually happen. BankNXT asked our own Anna Bennett to talk a little about the steps FinTech companies can take in order to minimise the...

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The Open Banking Opportunity
Mar15

The Open Banking Opportunity

In Q1 of this year, the UK’s Competition and Markets Authority (CMA) issued its final order ‘The Retail Banking Market Investigation Order 2017’ which sets out a package of reforms to deliver ‘Open Banking’ to the UK retail banking market, including the use of APIs. The aim is to enable consumers to share their own banking data with other banks to drive competition and transparency in the financial services market. Although this will...

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Collaboration and What Department Stores Teach Us
Dec14

Collaboration and What Department Stores Teach Us

Chris Skinner of the Finanser wrote when describing the emergence of the Internet of Things in banking, “incumbents must be agile, nimble and digital, but they were built for being slow, risk averse and physical”. One potential route to innovation is for banks to collaborate with fintechs and CIOs are all to used to hearing this. What they need however is a practical route forward. When it comes to execution, CIOs should look outside...

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CMA: What are UK Retail Banks waiting for?
Sep30

CMA: What are UK Retail Banks waiting for?

The UK’s FinTech sector is thriving, with smart founders and technology attracting the investment and developer talent to truly disrupt the wider industry. The innovation mandate provided by the Competition and Markets Authority’s (CMA) recommendations presents a real opportunity for banks and disruptive FinTech companies to accelerate technological change in UK Retail Banks, to the benefit of customer experience.  But working...

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Quit Innovation Theatre To Attract Best Tech Talent!
Sep27

Quit Innovation Theatre To Attract Best Tech Talent!

The City of London has long been established as a leading presence at the top table of global technology hubs. Its pre-eminence has been especially pronounced in the burgeoning FinTech sector, at least in part because of the fertile conditions provided by the high concentration of financial institutions in the City. But as digital-first challenger banks and other disruptive startups begin to influence the financial- services industry...

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Friday FT FinTech Reflections
Sep16

Friday FT FinTech 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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The FinTech Challenge: Technology’s a Game
Jul21

The FinTech Challenge: Technology’s a Game

A report published last year by PwC found that 95 per cent of banks are worried that they are in danger of losing part of their business to a disruptive FinTech company. It’s a big number, but it was no real surprise when you consider the various impediments banks face when it comes to implementing the kind of innovation that those disruptors have made their stock-in-trade – not least cumbersome legacy technology estates and a...

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The future of FinTech
Jun10

The future of FinTech

With much of the market discussing banks being forced to breaking point, it was refreshing to see this week HSBC’s head of digital, Raman Bhatia, talking to Business Insider about how banks are working towards the future of FinTech. The financial digital revolution isn’t coming, it’s happening, and banks are playing a big part in the creation of innovation for their customers. However there still appears to be a gap between innovation...

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