I'm sorry, but this is no different to at least 10 other entrants to the banking market in recent times. Listening to customers is the latest buzz phrase. The only thing of interest to customers service. How do I get it? Face to face in a branch, video, or internet dialog.
02 Jul 2015 17:06 Read comment
It is not that pension providers should educate their customers but that customers need to be educated about pension providers. The stock market is at a similar level to 15 years ago, having peaked above 6900 in December 1999. Most pension companies have not delivered on their investment strategy over the same period. Yet cash ISAs have almost doubled their value during the last 15 years with no charges. Why invest in a pension when you can now put more than £15000 into an ISA every year. When you come to retirement you do not have to buy an annuity and all of the savings are yours to do what you want with.
I suspect that the future of pension companies is not looking good
30 Jun 2015 08:23 Read comment
Your opening two words are 'recent research'. Who carried out the research and what was the profile and number of the particpants? Given the number of cards in use I suspect that the sample was 0.0001 per cent or less of the populace. That wonderful 60 year old book 'How to lie with statistics' by Daryl Huff comes to mind. I do see an increase in payment using a smart phone, but the idea that it will outpace cards in five years is outlandish.
This sounds like the previous arguments for the demise of cash.
01 May 2015 07:46 Read comment
Excellent analysis.
29 Apr 2015 08:32 Read comment
Pat
I have changed the PIN on my US card by calling an 0800 telephone number and answering a number of automated questions - date of birth; month and year in which the account was opened, as well as providing the card number and the expiry date. However, I do agree that retaining signatures is foolish.
30 Oct 2014 13:44 Read comment
No Brett, this is the second decade of the 21st century and this is real. Much as you would like everyone to do things the way you want, reality gets in the way.
29 Oct 2014 16:24 Read comment
Pat - an excellent article. One minor correction. In the UK it is not neccessary to visit a branch to change the PIN. It can be done at any ATM owned by the issuer.
29 Oct 2014 11:35 Read comment
I believe that this story started with the headline 'Why Ebola might kill cash' with the far fetched story about the virus being transferred on banknotes - not to dissimilar to the urban myth of 30 different viruses in a bowl of peanuts on a bar counter. It seems to have turned into a lengthy discussion on the future of cash. In the countries where ebola is currently raging, cash remains the dominant payment method for small transactions and is likely to continue for the next 50 years or more, regardless of the findings of the Ebonyi University. That wonderful book 'How to Lie with Statistics' by Daryl Huff is now more than 50 years old and it is still highly appropriate and readable.
27 Oct 2014 18:33 Read comment
I love the idea of a proximity correlation check so that my credit or debit card is tied to my mobile telephone. However, mobile telephone theft is rife. Would this mean that if my mobile telephone is stolen all of my debit / credit cards will not work?
20 Oct 2014 19:28 Read comment
I would find this more believeable with examples of actual cases of people becoming ill after handling cash. Having travelled throughout Africa,the Middle East and Asia over the last 40 years and handled cash 20 or more times per day, I have never experienced ilness. Nor have any of my colleagues.
Much as you would like to see the demise of cash, it still remains the payment method of choice throughout these regions, particuarly as it offers two things that electronic payments cannot offer - anonymity and tax avoidance.
20 Oct 2014 04:53 Read comment
Tin GathaniManaging Director at Enigma Project Consultants Limited
Jp NicolsManaging Director at FinTech Forge
Peter ThomasManaging Director at DLRT Ltd
Vered ZimmermanManaging Director at FinText
Maryna ChernenkoManaging Director at UFG Capital
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