89 Results
Steve Morgan Banking Industry Market Lead at Pegasystems
The trend in digital banking is one that continues to build momentum. A widely held belief was that there are a number who resist - generally of the older generation – preferring to stick with more traditional banking. Yet recently, McKinsey research has revealed that consumer preference for handling everyday transactions digitally is as high as a...
02 September 2020 /retail Innovation in Financial Services
With banks and their customers being forced to shift a majority of their activity online as a result of COVID-19, it is only logical that the digital banking experience should get more focus. Now, the race is on between financial institutions to get it right as those who sprint ahead of their peers will be able to use their superior banking experi...
23 July 2020 /retail /covid-19 Trends in Financial Services
COVID-19 scattered workforces and business operations virtually overnight. At the same time, the impact of the pandemic has accelerated digital sales and service demand in ways that suggest permanent change. This trend is confirmed by McKinsey which noted that remote advisory channels may be finally coming of age, potentially meaning that up to 35...
07 July 2020 /people /covid-19 Innovation in Financial Services
When coronavirus hit the UK earlier this year, banks were incredibly quick to respond to their customers’ needs, with offers of mortgage freezes, payment holidays and loans. In fact, Britain’s high street banks have granted almost 1.5 million consumers payment holidays who are struggling to repay their credit cards and personal loans during the co...
23 June 2020 /retail /covid-19 Customer Service 2015-2019-2025
The response of the UK government, like many others, has been opening up government backed loan support for businesses. As of the first week of June, over £31bn has been borrowed, although the Coronavirus Business Interruption Loan Scheme (CBILS) has an approval rate of only around 50%. The government’s alternative scheme prepared for smaller bu...
08 June 2020 /people /covid-19 Operational Risk Management
With most businesses having to shut up shop almost overnight as a result of COVID-19, thousands of people have either been furloughed or lost their jobs and are struggling to make ends meet. Understandably, their cashflow issues are leading to a deluge of enquiries to their banks, relating to loan concessions and restructuring, short-term cash disb...
14 May 2020 /retail /covid-19 Customer Service 2015-2019-2025
If the events of the last month have taught banks anything, it is that they need to be prepared for every eventuality. The speed at which the global economic situation has changed since the beginning of the year has been unprecedented, as has the need to adapt to this new world. Now, the immediate focus for banks (as with all organisations) is the...
30 March 2020 /retail /covid-19 Banking Strategy, Digital and Transformation
Today’s consumers have a propensity for laziness, or to put it more positively… ease and immediacy! But who can blame us? Technology now allows people to bank on their phone instead of visiting a branch, with a most transactions being possible without needing to leave the sofa. So, to survive and thrive, what is the next step that banks must take ...
13 March 2020 /retail Online Banking
The short answer is yes…. sometimes to both. However, there is a huge change underway and enough evidence to suggest that customer and competitive pressure alone will drive more change, even without further regulatory updates. Globally, and in the UK, margins in the lending market are feeling the pressure. Slow credit growth (currently at 2.5% in t...
04 March 2020 /retail Disruption in Retail Banking
Open Banking has fundamentally changed the game for all of us in the banking and financial services sector. With shifts involving customer data, naturally there have been concerns as organisations transform, from how they can get a sufficient return, to the need for security, to the need to adhere to the new regulations. However, Open Banking has ...
31 January 2020 Open Banking
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