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Tag: Open Banking

It’s Time for the Banks to Play Catch Up

This month, Facebook launched Messenger Day, a feature that lets you post pictures and videos with a 24 hour shelf life. Snapchat may have got in there first with the broad concept, but Facebook has given it a twist by formatting the feature to encourage users to get together offline. A billion people worldwide use Messenger and Facebook has identified a way to deliver additional value to them. Continue reading “It’s Time for the Banks to Play Catch Up”

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Tumbleweed Rolls through the Branches as Banks go Digital

Last week in this blog I flagged up Radio 4’s The Bottom Line’s interesting debate about the impact of fintech on the banking scene. If you had time to tune in, you will also have heard Anthony Jenkins, former CEO of Barclay’s Bank talk, in almost apocalyptic terms, about the accelerating fall in branch traffic. He quoted customer traffic as falling by 15% per annum and said: “If you walk into a branch in central London now, you can see the tumbleweeds rolling through the aisles.” Continue reading “Tumbleweed Rolls through the Branches as Banks go Digital”

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PSD2 is Speeding up the Tracks

On Saturday afternoon’s The Bottom Line on Radio 4, Evan Davis asked Anthony Jenkins, former CEO of Barclay’s Bank, what he thought the next big thing in banking would be. Jenkins replied: “In the very short term I think the better use of data to make lending and credit decisions and marketing decisions.”

Of course I couldn’t agree more, as this is exactly what we are already doing with The Affordability Passport. Continue reading “PSD2 is Speeding up the Tracks”

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Envelopes and Einstein

Richard Branson is a big fan of the back of an envelope approach to creativity and I agree with him that “if you can’t write your business idea on the back of an envelope – it’s rubbish.” And he’s not saying anything new. Einstein was making the same point when he said “Everything should be made as simple as possible, but no simpler.” And who wants to argue with Einstein? Continue reading “Envelopes and Einstein”

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New Dimensions for Astronauts and Banking

Hidden Figures, in cinemas now, is the story of Katherine G Johnson, Dorothy Vaughan and Mary Jackson, three female African-American mathematicians, or “computers”, working behind the scenes at Nasa in the 1960s. The story is set in Virginia where racial segregation meant that black and white Americans working for Nasa had to use different entrances, different toilets and different coffee pots. Continue reading “New Dimensions for Astronauts and Banking”

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