Latest opinions that Josh Rix has shared on Finextra

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Josh Rix

Director

Woodhurst Consulting

Member since

28 Jan 2021

Location

London

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Josh's opinions

Open Finance - Reducing the complexity of insurance

One of the biggest challenges when purchasing insurance is the complex nature of the product. Many customers are put off by the sheer volume of data they must enter, only to receive lengthy policy documents filled with jargon. In fact, less than 50% of customers understand what factors determine the price of their insurance policies. The Insurance...

23 March 2021 /retail /startups Open Banking

Open Finance - reimagining mortgages

Today, getting a mortgage on a property is a cumbersome process. The worst part is that consumers don’t even want to purchase a mortgage – they want to buy a house. The mortgage is, unfortunately, a necessary evil. Consumers highlighted three key challenges with the mortgage process today: 49% find the application and approval process too long 34%...

15 March 2021 /retail /startups Open Banking

Open Finance - improving consumer credit

The consumer credit industry is arguably more open to change and innovation than most across financial services, and therefore a beacon of opportunity for Open Finance. 15 million people in the UK do not have access to affordable credit, creating huge disparities in financial inclusion. Credit risk assessments can unintentionally disadvantage pe...

08 March 2021 /retail /inclusion Open Banking

Open Finance - don't forget about SMEs

Retail banking has always been the poster child of innovation, while SME and commercial customers are typically left behind and often undeserved. SME customers arguably require the most support from their banks, as these companies have a greater list of needs than a retail customer but may not have an in-house finance department to deal with them....

01 March 2021 /retail /startups Open Banking

Open Finance - addressing the savings gap

Saving is a critical element of managing our personal finances, and it tends to be the method that most individuals rely on, with investments being more financially exclusive in many respects. In fact, savings is arguably the first step in solving two key issues, Financial Inclusion and Financial Wellbeing. Somewhat worryingly, 1 in 10 Brits have ...

22 February 2021 Open Banking

AI - Can we unpack the black box?

Some machine learning tools are incredibly complex. So complex that they are considered to be “black box” systems. On the one hand, they are determining more and more accurate outputs to increasingly difficult problems. But on the other, the inner workings of these solutions can’t easily be understood by a human, and the rationale for the decision...

15 February 2021 /regulation /startups Artificial Intelligence and Financial Services