Open banking surge in UK
Open banking product usage has accelerated in the UK, with user numbers doubling to two million in just over six months. More and more consumers are trying and gain control of their own data in order to better manage their finances during the pandemic, and as a result latest figures show a steady increase of around 160,000 Open Banking users per month across the UK.
Bank branches: A quarter to go in the next three years, and new rules around planned closures
A decade ago there was approximately 240,000 bank branches in Europe and today there are around 165,000 remaining. Well, a new report predicts that number is set to drop by a further 25% in the next three years. In other branch-related news, the UK’s Financial Conduct Authority (FCA) has warned banks that every time a branch or ATM closure is planned, they will need to provide an analysis of the impact on customers’ access to cash.
NatWest to trial carbon emissions app
NatWest is set to pilot an app which calculates customer carbon emissions as they spend. The bank is inviting customers to join the eight-week trial, which will use tech from fintech firm CoGo. The app will provide trial participants with access to a tracker that calculates their carbon footprint in real time based on their spending habits.
Euromoney awards JPMorgan ‘World’s Best Bank 2020’
Euromoney Editorial Director, Peter Lee, explores the finer details that landed JPMorgan the title of ‘World’s Best Bank 2020’.
Could 5G create ‘fintech 2.0’?
Tech HQ investigates how the looming age of 5G connectivity could promise a vehicle for further development, and asks: will 5G really offer fintech, more than what is already made possible by 3G and 4G?