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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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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HID Global on FINkit
Nov17

HID Global on FINkit

“Our technology allows banks to seamlessly authenticate their customers. By working with FINkit, this allows us to reach many banks throughout the UK and globally through a single integration, as we bring together our shared expertise to deliver a complete solution to our shared customers” . Conor O’Riordan, UK&I Sales Manager, HID Global.   Watch HID Global on FINkit:   The FINkit Partner Programme consists of 14...

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The Zeitgeist of Customer Data Ownership
Sep30

The Zeitgeist of Customer Data Ownership

I hear conversations day-in, day-out about ownership; customer ownership, data ownership, process ownership, yada yada. We see it in the media – take Salesforce’s objection to the acquisition of LinkedIn by Microsoft, objecting on the grounds that Microsoft may choose to stop competitors gaining access to valuable customer data.  Banks have to face the data access, permissions and controls conundrum in Open Banking too – and it’s fast...

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The Death Knell for Innovation Theatre
Sep20

The Death Knell for Innovation Theatre

It’s clear to see from the sheer volume of PR and excitable press articles over the last twelve months that big banks have recognised the need to collaborate with FinTechs in order to maintain their place in a customer’s heart. I say ‘a’ customer and not ‘their’ customer because ownership is dead; in this era, the customer owns themselves. With so many offerings now coming to the table, retail banking revenue streams are being chipped...

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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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UK Banks PSD2 and Brexit: Full Steam Ahead
Aug20

UK Banks PSD2 and Brexit: Full Steam Ahead

UK Banks, PSD2 and Brexit – Amidst the ongoing debate about the revised directive on payment services (PSD2), one issue that has gone largely unreported is the fact that many banks in the UK would rather not have had to deal with PSD2 at all. Is PSD2 A Threat? PSD2 represents a threat to banks’ ownership of their customer relationships. PSD2 compels banks to open up access to accounts and decouple retail banking from easy access...

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