Retail Banking Systems Insights

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RBS shrinks but turns to Open Banking

3rd December 2018

Company: bobsguide
“NatWest and RBS have been shrinking,” said Adrian Smyth, head of payment innovation RBS, at an industry event in London last week.   “As a bank we have historically, to be completely fair to us, seen people focus on getting the mandatory compliance aspect through, that’s not lead to a lot for the differentiation,... read more
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5 ways disruptive technologies will transform AML compliance

3rd December 2018

Company: Fenergo
There is no doubt that the financial world is undergoing radical transformation, aided by the plethora of newer and more disruptive technologies. In fact, it’s safe to say that financial services will be virtually unrecognizable in the next 10 years. However, some things remain the same. Banks will always have client, regulatory, operational... read more
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The digital transformation puzzle: no more shying away from technology

3rd December 2018

Company: Feedzai
With banking customers expecting higher quality and faster interactions, customer experience has become the battleground where banks compete to retain existing customers and attract new ones. Many banks are embracing digital transformation (DT) as a strategy on which to build new and advanced customer experiences and better, more compelling... read more
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Barclaycard's Kerigan: Retailers hesitant to embrace Open Banking opportunities

28th November 2018

Company: bobsguide
Retailers are showing signs of reluctance to the payment innovations enabled by Open Banking according to Nick Kerigan, managing director of future payments, Barclaycard. “I think they [retailers] are being cautious and prudent in the sense that they want to explore the benefits, but they also have clear incumbent payment methods, which... read more
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UK’s incumbent retail banks must embrace commercial risk

28th November 2018

Company: bobsguide
Banks must find their niche and “bloody well deliver” or face losing customers to challengers. according to Alison Jaap, head of change at First Direct. Speaking at an event in London this week, Jaap argued that incumbents need to take more commercial risks as innovative products flood the market. Banks simply can’t afford to... read more
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Challenger account holders seek budgeting assistance

28th November 2018

Company: bobsguide
Challenger bank account holders are looking elsewhere for budgeting assistance according to Steve Tigar, CEO of the free online budgeting app, Money Dashboard. Speaking at a conference this week in central London, Tigar said Money Dashboards most engaged users of the budgeting service are Starling and Monzo account holders.  “If... read more
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Starling developer: avoid voice banking “gimmicks”

28th November 2018

Company: bobsguide
When it comes to voice-activated banking, institutions need to avoid implementing “gimmicky” technologies that “won’t add anything” to the client experience. That’s according to Jason Maude, senior developer at Starling Bank. Speaking at a retail banking conference in London this week, Maude said the... read more
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KPMG’s Bolland: Incumbent banks the winners of big data revolution

27th November 2018

Company: bobsguide
Legacy platforms will not hold incumbent banks back as the industry becomes more focused on big data possibilities, according to Dan Bolland, director of banking at KPMG. “I understand what they are saying but the reality is, in Ireland there are really two big players, in the UK there are five big players. So, they have so much data of... read more
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Mastercard’s Wadsworth: Who will end up holding the Open Banking baby?

26th November 2018

Company: bobsguide
Questions around accountability should problem occurs around Open Banking relationships were raised by Jim Wadsworth, UK product director at Mastercard, at a retail banking conference in London this week. “This is different to the Facebook or Twitter world. If Twitter goes down for half an hour nobody really cares, but if someone has... read more
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EU and US banks facing escalated risks

23rd November 2018

Company: bobsguide
There has been a significant increase in credit risk in the EU this year, while US banks face increased regulatory risk in the months ahead. That’s according to research and credit specialists at S&P Global Market Intelligence, speaking at an event this week in London. “Across Europe, at the beginning of the year, on a... read more