3771 Results from /retail
Retired Member
At a Finserv conference this week, it emerged that compared to their early adopter counterparts in the US, UK consumers are seriously lagging behind in the adoption of mobile banking services. In fact, the UK is also behind many developing countries in the take up of m-banking. This is borne out when you look at the success of mobile banking appl...
15 February 2013 /retail
What can we learn from the latest product miss-selling scandal? Last month the The Financial Services Authority announced that it is reviewing the practices of the U.K.’s big retail banks after finding serious problems with miss-selling interest rate hedging products to small and medium sized businesses. This new scandal will put even greater pres...
12 February 2013 /regulation /retail
Jp Nicols Managing Director at FinTech Forge
Five massive foundational shifts are impacting financial service providers of all types, and they are impacting those that serve affluent clients in especially unique ways. According to a study by KPMG conducted in June 2012, 9 out of 10 banks are considering a serious overhaul of their strategy, and 40% say that wealth management and asset manage...
12 February 2013 /retail Innovation in Financial Services
Julian Farley
The BBC recently published an interesting article “Why banks are likely to face more software glitches in 2013”. This is something that we should all be concerned about. As payments become more of a commodity, we expect availability and demand convenience. We all struggle to manage our finances, make sure we pay our bills on time, only to be let ...
08 February 2013 /payments /retail
Now, it may seem flippant of me to claim you can distil the ‘perfect’ fraud system down to five steps, but I’ve given it a go nonetheless by listing the five things that are going to be top of my list when speaking with clients about bringing their fraud monitoring system up-to-speed for 2013. 1) Beware attacking zombies Know Your Customer (K...
08 February 2013 /security /retail
A recent CUinsight article by this topic explores the untapped up-side in marketing via the eStatements channel. The post was made by a vendor in this business. Nothing wrong with selling, but... In my experience, migrating a user from paper to eStatements is a very good thing in a connected world. However, when a paper statement is delivered, it...
06 February 2013 /retail Online Banking
Industry analysts at Ovum have predicted growth of 3.4% in the IT spend of retail banks around the world in 2013 – following fast on the heels of Celent’s predictions last month of the same growth for total bank IT spend. Whilst this is obviously good news for those in the fintech space, it is worth diving into the predictions a bit deeper. The O...
05 February 2013 /retail
Wealth management is an attractive business line for banks. Affluent clients hold higher balances, have lower credit default rates and utilize more fee-based services than the average branch consumer. No wonder forty percent of bank leaders surveyed by KPMG in June 2012 said that wealth management would be a critical component of their growth plan...
I have been in the insurance software business now for more than 25 years, and early in my career, the question was raised: “Why do brokers have client administration systems while insurers struggle on with multiple, unconnected policy administration systems?” During all my time in the business, nobody has been able to tell me why insurers wish to...
04 February 2013 /retail /wholesale
Sometimes the simplest lessons are the hardest ones to learn. Anyone who has taken even the most basic business course in the past fifty years is undoubtedly familiar with Theodore Levitt's 1960 treatise “Marketing Myopia”: "The railroads did not stop growing because the need for passenger and freight transportation declined. That grew. The r...
01 February 2013 /retail
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