Eva your commentary on Loans and savings are particularly interesting. (Love the pig comment :-). I agree with what you are saying and expect there will be more of this thinking as you suggest. With no underlying account, for savings, how will the funds be stored and trusted as much as the trusty old mattress?
19 Dec 2015 08:22 Read comment
I think you're right. Do you think the majority of banking exec decision makers see it that way? I keep hearing terms like "banks becoming a dumb pipe" stated in a negative way, but I agree with your comment that the fintechs (on the whole) drive incremental revenue and will actually innovate the industry WITH banks continuing to grow revenues. And it's not disruption of the banks that I see people like me and you talking about - it's disruption of the wider industry. Interesting times :-)
18 Dec 2015 11:59 Read comment
Interesting views Hamza, not far from mine to be honest (other than the bias comment, which of course I won't agree with :-). Check out my blog to see a bit more on the back of this story
https://www.finextra.com/blogs/fullblog.aspx?blogid=12011
17 Dec 2015 15:55 Read comment
@Paul - please don't ;-)
To all the commenters, a great debate. Get in touch through LinkedIn if you would like the data, and we can have a chat
17 Dec 2015 12:44 Read comment
Finextra, I assume this is China only at present?
15 Dec 2015 15:10 Read comment
@ Denis, you could be right about the likes of Apple, but maybe too early to tell? Certainly if I was launching a mobile payments solution now I'd be very wary or or joined at the hip with the big OEM Pays of this world I do think ubiquity and habit still have probably the biggest role to play to get mobile payments adopted more fully
01 Dec 2015 09:50 Read comment
Given there aren't any MNOs mentioned and its "any NFC capable android phone" my assumption would be HCE
15 Sep 2015 17:24 Read comment
Convenience is king. It used to be cash! Using Apple Pay at Wetherspoons on Saturday, no pocket full of change and I knew exactly what I spent. Definitely the way forward
01 Sep 2015 08:12 Read comment
My bank app has a little button in the menu called "Paym" which gives good information on what it is. "Cool" I think, "I will have to use it". I just need to remember when I am not at work / on a bus / in a pub / out walking (you get the picture) to open up my creaking laptop, ignore the multitude of Windows update alerts, open my browser, go to the bank, get my card reader out, go back to the hall to retrieve my wallet, log in, activate. Done!
I will get round to it at some point, I promise myself. I think to myself "If only I could just activate from my mobile bank, I did think that was secure after all....". Then promptly forget again
13 Aug 2015 11:16 Read comment
It's an interesting way to attempt to increase competition in the ecosystem by improving the way customers can move around. Process is important, but rarely a clincher. I saw this about 10 years ago in Utilities who wanted to make it easier for customers to change provider. The issue for them is the same as is for banks; consumers will switch when something compelling makes them switch. With utilities they do it as someone (Marin Lewis, an agent, their mate in the pub / on Facebook) alerts them to the possibility. For banking its things like a great mortgage deal if you move to the current account product (that one got me). As consumers we expect pain, but we don't move just because its painless to move. At the time I moved (a few years ago) it was also because I wanted mobile banking. I'd move again to the same provider now because they now do Apple Pay and my standard (most used) debt card isn't contact less enabled unless I buy the next account up, which I won't do as I have that product already on my the joint account.
25 Jul 2015 18:43 Read comment
Michael KyritsisLead Solution Consultant at ACI
Ray CaradinePayments Consultant at ACI
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