Insights

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Open Banking suggests life insurance opportunities

18th January 2019

Company: bobsguide
The combined effects of Open Banking, the General Data Protection Regulation (GDPR) and developments within artificial intelligence could see banks offering life insurance. “The real challenge is synchronising banks’ data into the old and archaic insurance processes in the old insurance offices and ensuring incumbent insurers are... read more
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How is the payments ecosystem changing?

18th January 2019

The global payments landscape is changing. Digital transformation, new collaborative approaches between banks, fintechs and payments providers, and a changing regulatory environment are just some of the overarching themes impacting the sector. In association with Western Union Business Solutions, bobsguide is researching and producing the... read more
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Is this just the beginning? The CMA’s response to the ‘loyalty penalty’ super-complaint

18th January 2019

Last September, the UK's Citizens Advice Bureau (CAB) filed a super-complaint with the Competition and Markets Authority (CMA) calling for more to be done to tackle the ‘loyalty penalty’ being paid by longstanding customers in five markets: mobile phone contracts, broadband, cash savings, home insurance and mortgages. The... read more
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“Technically easy” SCA implementation risks user irritation

17th January 2019

Company: bobsguide
Banks risk taking a “retrograde step” and irritating customers if they attempt to implement secure customer authentication (SCA) “in a technically easy, but not particularly consumer-friendly way,” according to Envestnet Yodlee vice president for EMEA, Matt Cockayne. SCA, a mandate of the second Payments Services... read more
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UK is "leader" of Europe-wide API standardisation

16th January 2019

Company: bobsguide
The fact that the UK’s API standards are in prime position to be embraced across the European Union puts the country’s banks and fintechs – already conforming to those standards – at a distinct advantage over their counterparts in the rest of Europe. “The UK is the first mover on this [Open Banking] across Europe... read more
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Challenger J-Curve business model ultimately leads to “conduct problems”

16th January 2019

Company: bobsguide
The mentality of racking up overheads in order to acquire customers leads banks to act on their own and not the customer’s best interest later down the line, says Andy Mielczarek, CEO of Chetwood Financial, the new challenger and lender. “When I reflect on the 2008 crisis and the mis selling and position of banking in the UK, it... read more
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System consolidation to save firms from SFTR struggles

16th January 2019

Company: bobsguide
Systems consolidation is the name of the game if firms are to meet the reporting requirements of the Securities Financing Transactions Regulation (SFTR), according to Broadridge senior product director, Dean Bruyns. “Obviously it takes work and it takes budget. These are challenges that all banks have,” says Bruyns.... read more
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6 trends in insight driven data management

14th January 2019

Company: Asset Control
Financial institutions need to improve data quality and availability not only to meet operational goals, but to contribute to core competencies in managing investment performance, reducing risk and meeting compliance goals. Our research shows firms are looking to adopt new and additional capabilities to derive higher levels of business value from... read more
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CFTC ethereum questions show “fundamental” lack of understanding

11th January 2019

Company: bobsguide
A request for input from the Commodities Futures Trading Commission (CFTC), seeking to improve its understanding of the ethereum blockchain, has demonstrated a “fundamental” lack of knowledge at the regulator. “It seems to not have a very good understanding of ethereum overall,” says John Quarnstrom, founder of ethereum... read more