210 Results from 2016, /retail
Retired Member
Bancassurance is one of the most profitable partnerships banks have, as the name implies, with insurance companies. This means insurance companies sell their products via bank’s online and offline channels to bank clients. In return, banks get fees or commissions so there is a win – win relationship has been set up between the two parties. Selling...
04 February 2016 /retail
Nick Ogden Chairman at Ogden Research
Who could have predicted that in 2016, following the disasters of 2007-9 that the main banks in the UK would be planning for negative interest charges against their business customers. Never, absurd, I hear the cries of common sense but sadly true as many business customers are finding out today in their post. I quote "The interest rate we ...
As a self-confessed Millenial and (I like to think) early adopter I for one am slightly fed up of hearing this talk about new entrants into the Banking sector and specifically ‘Challenger Banks’ will potentially displace / disrupt banking and the whole financial system. There is some truth to it, but there is far too much hyperbole. Banks SHOULD b...
03 February 2016 /retail
From analogue to digital Banks’ small business relationship management isn’t what it used to be. Digital services have taken over from the branch, resulting in branch closures and, subsequently, relationship managers no longer have the capacity to offer all their clients the tailored, personal advice that they used to. The average small and medium...
According to a recent report by Citi, cash is slowly but steadily on its way out. At the same time, questions are being raised on why we should not accelerate the transition as much as possible. Converting payments to digital helps with transparency, and reduces both social and other labor costs on the overall system. No doubt the benefits are
30 January 2016 /retail
By Hakim Mendjeli , 4by90 consulting (This article was first published here) This is the first instalment of a few articles to share my perspective on innovation, retail banking, Fintechs and competition. If you see some value in my perspective please do let me know. As they say on youtube "like it, share it, comment on it!" In this firs...
27 January 2016 /retail Innovation in Financial Services
The complete recipe for a financial services app that stands out from the crowd So, you want to design a financial services app. But how do you make it stand out from the thousands of others already in the market? From our experience, customer centricity is the key, where by ‘customer’ we mean ‘real people’. Technical components influence speed an...
26 January 2016 /retail
Santander recently announced that monthly charges on its popular 123 account would more than double. This move illustrates how the retail banking industry is changing, in response to the European Union capping interchange fees, and the UK Financial Conduct Authority considering whether to end the era of free bank accounts. At first glance, the ide...
25 January 2016 /payments /retail
Konstantin Rabin Head of Marketing at Kontomatik
How banks operate today is just outdated. Their procedures tend to be complex, inconvenient and offline. Either the banks will adopt new technologies or innovative companies will remove the banks from the banking services. The way we live today is completely different from the way people approached their lives a few decades ago. The essential tas
21 January 2016 /retail
Ben O'Brien Managing Director at Jaywing
As we enter 2016, the IFRS 9 deadline draws even closer, and the countdown is putting pressure on firms who need to comply with the new requirements. In less than two years, on January 1st 2018, IFRS 9 will take effect. Although the deadline isn’t until 1 January 2018, the reality is that the changes need to be in place at least a year before in or...
21 January 2016 /regulation /retail
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