Latest opinions that Steve Morgan has shared on Finextra

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Steve Morgan

Banking Industry Market Lead

Pegasystems

Member since

04 Sep 2019

Location

Reading

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Steve's opinions

Access to Cash is an Ancient Argument that is Losing Steam Fast

In the past few weeks, two news announcements made me think about the access to cash debate that rages in many countries and especially the UK where a government consultation on the topic recently closed. One, most obviously, was how the limit for contactless purchases in the UK was raised to £100. Even before the first pandemic lockdown, contactl...

12 November 2021 /payments /people The future of Payments in Europe

ISO 20022 is coming – How banks can prepare for the new payments messaging standard

ISO 20022 is coming. The new global messaging standard for payments systems is generally agreed to be a good thing for the banking industry – the Bank of England’s consultation on the plans showed respondents were “largely supportive”. Indeed, as the UK’s central bank notes, ISO 20022 is designed to create a globally consistent financial messagin...

09 November 2021 /payments /regulation The Payments Business

Video banking: how banks can do it well

Telephone banking and chatbots unsurprisingly proved popular for customers during the pandemic because of how they allowed them to interact with people at their bank in a safe and convenient way. Research from GlobalData found that from 2017 to 2020, the number of active telephone banking customers almost doubled, and mobile usage saw a 15 percent...

14 October 2021 /retail /covid-19 Trends in Financial Services

AI can make customers love, not loathe, their bank in tough financial times

Of all institutions, banks are at the forefront of sensing and encouraging the financial resiliency of their customers. They have clear insights into the state of an individual’s financial balance, spending and debt situation. This is especially valuable as customers’ finances are put under unusual strain through no fault of their own. Financial r...

07 October 2021 /inclusion /covid-19 Analytics in Banking

What has COVID-19 taught banks about agile IT?

One of the biggest lessons is that banks need to be able to quickly adapt to change. This was evident from the first lockdown, when financial organisations realised they had to reshape their technology set-up almost overnight. It required leaders to ask key questions like “What’s most and least important to our customers?” and “Do we have a good u...

14 September 2021 /people /covid-19 Banking Strategy, Digital and Transformation

How improving digital sales and servicing can take pressure off banks

As economies unlock, you might suspect banks can take a breather, especially as some countries like the UK report big leaps in economic performance. Yet, the reality is the pressure on banks around revenue and costs continue, even if there are some nuanced changes. In particular, banks are realising the predicted losses are not as high as they had...

20 August 2021 /retail /covid-19 Banking Strategy, Digital and Transformation

The rise of the 'finfluencer' – should traditional banks engage?

With the advent of new video social platforms including TikTok and Snapchat, we have seen hundreds of novice financial advisors, otherwise known as ‘finfluencers’, emerge. These influencers offer Gen Zers money advice in a short, lighthearted video format and are becoming an increasingly popular source of financial information. Even Imogen Tew, mo...

28 June 2021 /retail /inclusion Futuristic Banking

Touchless payments – will the £100 limit change anything?

The contactless card payment limit will rise from £45 to £100 later this year as people are favouring contactless transactions to help curb the spread of the virus, as well as the convenience and speed. The pandemic has undoubtedly accelerated the shift to a cashless economy. March 2021 figures from LINK, the UK’s main ATM cash machine network, fou...

21 May 2021 /payments /covid-19 The future of Payments in Europe

The Future is Bright with Bill Management and Utility Switching Services

While Open Banking use cases have been somewhat lacklustre so far, we could be about to see a shakeup in terms of how banks and utility providers unite for the benefit of the customer. Just this year it has been reported that TSB Bank is launching a bill management and utility switching service after a pilot found that users saved an average of £1...

18 May 2021 /people /retail Open Banking

Personalisation – what banks can learn from the telecoms industry

Tailored product offers, timely tips for financial management, curated messages based on a customer’s location – these are all great examples of personalisation. Yet this type of engagement continues to be out of reach for most financial institutions: in a piece of Deloitte research, less than a third of customers think they receive personalised ...

10 May 2021 /retail /predictions Customer Service 2015-2019-2025

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