Q&A: Pay.UK’s chair on the future of retail payments

17th June 2020

Company: bobsguide
Before chairing Pay.UK, the UK’s standard setting body for retail payments, Melanie Johnson chaired The UK Cards Association – now part of UK Finance – for eight years. She talked to bobsguide about the UK’s new payment architecture (NPA), reducing fraud and overseeing the country’s payment systems during coronavirus... read more

Firms embrace virtual business solutions

16th June 2020

While the lockdown has normalised business via web conferencing tools, financial services are being curtailed as institutions are unable to transfer sensitive customer information along ordinary channels.  “In today’s times, making it easy to engage, collaborate and transact business is more than just firing up a conference.... read more

BMO MD: CAT should not see further delays

16th June 2020

Company: bobsguide
The consolidated audit trail (CAT) must move forward despite remaining data privacy concerns, says Joe Wald, managing director, BMO Capital Markets. “At a certain point, things have to move forward and we can’t let old technology hold us back as an industry,” says Wald. “I think that it’s a big technological... read more

Ecommerce during pandemic and why reconciliation matters

15th June 2020

Company: ReconArt, Inc.
As the pandemic spread, so did a joke – across social media: Who drives the digital transformation efforts in your company? CEO CTO CIO COVID-19 It’s funny because it rings true. Businesses around the world saw themselves amid an unprecedented situation as the pandemic hit. Lockdown restrictions and social isolation... read more

Decrease in branch traffic speeds digital transformation

11th June 2020

Company: bobsguide
Starting in March, banks including Llyods and HSBC have closed their branches due to government guidelines on health and safety – a trend that has led to a drastic change in consumer behaviour and that has accelerated the digital transformation of retail banks. Mladen Vladek, general manager at FIS, says there is an “impact on the... read more

Digital gap widens between traditional banks and challengers

11th June 2020

Company: bobsguide
The gap in digital performance continues to grow between traditional banks and challengers as the pandemic exposes incumbents’ inability to adapt.  Mark O’Keefe, founding director at Optima Consulting and Payments Systems Regulator (PSR) panel member, says few incumbents have stepped up to the plate during the pandemic. ... read more

Report: Insurance industry takes tech and trust hit

11th June 2020

Company: bobsguide
Insurers face new threats as impact of coronavirus challenges tech stacks and complicates customer contracts. While the shock of the pandemic is being felt across all industries, insurers are grappling not only with the need to revamp legacy technology, but the potential loss of trust from customers who rely on them for support as the lockdown... read more

Profitability over growth key for fintechs to secure investment

10th June 2020

Company: bobsguide
Fintechs must show that they have a solid business model focused on achieving profitability, not just rapid growth if they are to secure investment, according to venture capitalist firm, Anthemis Group. The coronavirus crisis may have already cost UK fintechs as much as £1.9bn, according to a report by Computerweekly. And with investors... read more

‘Data to cash’ as a service: Time to invest in open banking

10th June 2020

Company: bobsguide
By Andries Smit, CEO and founder of Upside There are 11.95m+ households in the UK with less than £1,500 in savings. Since early March, the catastrophic impact of the coronavirus has only highlighted further the treacherous situation the country is facing regarding personal savings. For the financial world, this offers a unique opportunity... read more

Automation reconciliation services are coming on leaps and bounds

9th June 2020

Company: FIS
For many, their reconciliation software has become part of the office furniture – sat in the corner, not upgraded or even reviewed in years. But there is a growing shift toward updating or introducing new reconciliation solutions that are service-based, standard-driven and highly focused on automation, according to Richard Chapman, vice... read more