Digital Concepts for Retail Banks – Execute on Innovation
May30

Digital Concepts for Retail Banks – Execute on Innovation

Ever sat in your office, pondering over digital concepts for retail banks and thought ‘I wonder what an awesome savings proposition would look like in pictures?’or ‘which partners would I pull together to form the best in market travel proposition?’ … then help is at hand. We’ve authored a book called ‘Execute on innovation’ and the 127-page masterpiece is jam-packed full of ideas that we can help you bring to life quickly...

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

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

2016 has been a very busy year and my team and I at FINkit 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 2017 UK Retail Banking.   What’s Hot The Sandbox: Whether...

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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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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.” The team at FINkit 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 ten-a-penny. In banking you...

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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 at ‘Dropping The Curtain on innovation Theatre’ 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...

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Dropping the curtain on ‘Innovation Theatre’: Part Two
Nov29

Dropping the curtain on ‘Innovation Theatre’: Part Two

Last night we held the second event in a series we will be running to not only debate the well documented challenges in the retail banking sector but also inspire commitment for collaboration and practical change. Financial technology influencer and author Chris Skinner, Scott Abrahams, Global Head of Emerging Payments for Mastercard, Innovate Finance CEO Lawrence Wintermeyer, Steve Lemon, Co-Founder of Currencycloud and Alastair...

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Fastacash on FINkit
Nov17

Fastacash on FINkit

“Fastacash is a FinTech that’s been established since 2012 and we operate a platform that allows any business to transfer any form of value over any of 24 social networks that we’re connected to. We are working with FINkit because they offer a platform that is essential for banks to be able to collaborate to compete and innovate in an ever faster-paced and demanding market. As a FinTech looking to build relationships with major banks,...

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