If Financial Services (with a healthy side of tech) is your thing, then you’re probably interested in the same kind of news as me. Part of my job is to keep up to date with everything going on in the industry, so every 2 weeks, I’ll share five things that have caught my eye. Let’s go…
Visa Chief Exec predicts a permanent, irreversible shift to non-cash payments
In a recent interview Visa’s Chief Executive for Europe, Charlotte Hogg, predicted that the impact of the Coronavirus pandemic will mean “digital, domestic spending is going to be important, and debit cards (rather than credit cards) are going to be important.”
Dear Retail Banking, customer behaviours have changed forever
More than 45% of banking customers have permanently changed the way they interact with their bank since coronavirus.
In this Bobs Guide article, FIS General Manager, Mladen Vladek, asks: “When I go to the store and my favourite brand that I used to buy for the last four, five, seven years is not available and I’m concerned about the wellbeing, safety and health of my family, I buy what’s available. What does that mean in terms of the loyalty of the financial institution brand?”
Webinars for the win
It’s a good time to listen to webinars for two reasons: 1. Industry discussions have changed drastically as a result of the pandemic, and 2. I’ve found that listening to strangers talk while you work from home can break up the feeling of isolation. For discussion on what FS businesses have experienced recently and how they are adapting, I found MoneyLive’s Digital Engagement for the Next Normal a worthwhile listen.
Open Banking App Store up and running
Earlier this year it was announced that the amount of UK Open Banking customers had passed one million for the first time, doubling in just six months.
Responding to this surge, and everything else going on, the UK’s Open Banking Implementation Entity (OBIE), has opened an app store to help consumers and companies understand what financial products are available to supplement their online bank accounts.
Something to smile about: Danske Bank shares positive impacts of home working
I’m a sucker for a good stat and hearing about any positives that have emerged in these challenging times. Danske Bank recently shared the impact that months of working from home has had on employees and customers, teaching them that “work is not a place, it’s an activity.”