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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Neobanks – Genuine Disruptors, Overhyped, or Both?
Jan08

Neobanks – Genuine Disruptors, Overhyped, or Both?

Efforts to shake up consumer banking have tended to come in waves. While the 2000s saw the likes of Virgin Money and Metro Bank attempt to woo customers away from the ‘big four’ with more innovative products, better customer service, and a more accessible branch experience, the 2010s have seen digital become the key battleground targeted by disruptors.   Progressive regulation geared towards increasing competition in the industry...

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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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When Challengers Become Black Swans
Jul29

When Challengers Become Black Swans

Hardly a surprise for anyone at FINkit, but this week there has been some great press about the rise of mobile banking (finextra, BBC, Business Insider) that made for good reading.  Well, until we delved a bit deeper.  The problem is mobile phones and tablets have browsers and can run apps. We find this again and again in digital, confusion between consumer touch-points and interactions, and the importance of getting those...

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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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