Open Banking now has three million active users in the UK as of January 2021 according to the Open Banking Implementation Entity. However, since PDS2 came into force, the big transformation that was expected has not come to fruition. The directive paved the way for data sharing from multiple accounts from different providers, helping people with financial tasks such as budgeting by having a complete overview of their spending in one place. But many consumers remain sceptical, or even unaware of how they could be benefiting. To drive customer retention, banks need to enable customers to reap the rewards by innovating into new services that effectively utilise the sharing of data Open Banking facilitates.
Articles
LET’S USE DIGITAL TECHNOLOGY TO TRANSFORM NOT BREAK BRANCH BANKING
Three months into 2021 and we are seeing more bank branch closures on the cards with HSBC unveiling their plan to close branches.
Of course, this isn’t unusual news. Legacy banks are suffering a perfect storm; massive reductions in customers utilising traditional banking channels and new entrants seizing market share with innovative digital only solutions.
4 WAYS TO IMPROVE FINANCIAL FITNESS
Despite significant efforts by schools and media to give more attention to financial skills, the level of financial literacy in the general population remains low. Basic financial budget management appears very difficult for many people, let alone understanding more complex concepts like the correlation between risk and return, the need for diversification or fiscal optimization.
HOW IS AI REVOLUTIONIZING FX MARKET IN A WAY WE DIDN’T EVEN REALIZE
The foreign exchange or forex market is the biggest financial market in the world. It is even bigger than the stock market. Moreover, the forex market continues to grow, and one major reason for this is the use of the latest technologies, including artificial intelligence. In fact, it wouldn’t be wrong to say that AI is revolutionizing forex trading.
ADVANCING FINANCIAL INCLUSION
In today’s times of economic stress – driven and accentuated by the effects of the Covid-19 Pandemic – financial inclusion has become ever more important. Financial inclusion addresses society’s need to help all global citizens obtain financial services and products at affordable prices.
From deposits and loans, to fund transfers, it’s imperative we at FIS assist financial institutions in meeting the needs of the “underbanked” – those who believe they aren’t able to access the traditional services of a financial institution.
WHY FACTORING INDUSTRY NEEDS FINTECHS
Until recently, the micro segment was taken by banks and factors with a pinch of salt. The procedure of granting factoring or credit limits was just as complicated as in the case of the SME or corporate segments. Only few opportunities for cross-selling. Lots of hassle, little income.
Videos
BERKSHIRE HATHAWAY HOMESERVICES GLOBAL FOOTPRINT
This high-energy, impressive, one-minute video highlights Berkshire Hathaway HomeService’s global accomplishments in 2020. To say the world was disrupted in 2020 would be an understatement. Despite the global pandemic and the unknown, our resilient network persevered.
HOW SPLITIT WORKS
Splitit is a flexible pay-over-time solution that allows consumers to leverage their existing credit cards to pay in monthly installments without interest charges or fees.
HOW TO INVEST SUCCESSFULLY IN 2021 AND BEYOND
Dean Anderson, Kernel founder, and Chief Executive will present investment strategies for every investor in 2021 and beyond. If you’ve been thinking about how to invest in a low-interest rate, property boom, or Covid world, then this timely and informative presentation is for you.
FFC LAUNCHPAD – GENERATING DOCUMENTS
This video will walk you through how to generate documents in the new dealer portal, LaunchPAD.
PROTECT YOUR MORTGAGE WITH OPTIONAL INSURANCE AUGUST 2021
Protect your mortgage with optional insurance.
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