Banking has gone undercover and it’s been a long time coming. We want our banks to do a lot for us, but it transpires that the less you can actually see your bank doing for you, the better.
So, it begs the question: why would banks suddenly decide to assume the Good Samaritan role after all this time? Sheer benevolence or is there something in it for them too?
Topics: Personal Financial Management (PFM), PFM, digital banking, personalized finance
Design has changed (and even transformed) a lot of industries: music, technology, electronics, fashion. And not surprisingly, the financial industry is not immune to their impact.
The reality is that more agile and digital-only banks like N26, Moven and Simple, are fundamentally changing the relationship people have with banks. Digital only-banks have reshaped what used to be a simple transactional relationship and if big banks want to follow suit, user experience is where they need to excel. Given rapidly evolving needs and consumer behavior, banks should start creating humanized digital experiences today's consumers expect.
Topics: Digital Transformation, user experience, digital banking, design for finance, personalized finance
Fact: Women entrepreneurs are good for the economy.
A study by MSCI, stated that companies with female presence at top management level generated a 36.4% average increase on equity over those that have a predominantly male board of directors. An even playing field for women and men is no laughing matter: it equates to an extra US$28 trillion per year, or a 26% rise in global GDP by 2025, according to a report by McKinsey Global Institute in 2015.
Topics: Financial services for women, women and banking, FemTech, women in tech, fintech women
It was a pleasure to take part in Finovate Spring this year in sunny San Jose, and have the opportunity to meet and catch up with all the new and existing players on the FinTech circuit. Two full days of demos, lunches and networking opportunities, to share ideas and stay abreast of the latest concepts and innovations.
Of all the presentations I attended, two sparked my interest the most: Unison and Alpharank.
Topics: Artificial Intelligence, digital banking, AI, finovate
The world of banking has remained unchanged for decades; when all about them were innovating and disrupting their sectors various, the bank did nothing, managing to continue its unilateral conversation to its one customer. The middle-aged man. The banking sector has done itself no favors by eliminating the woman from their branding strategy; this already eliminates 51% of the world’s population from their message and more importantly, the segment of society who makes the most purchasing decisions -85% to be precise- for the household.
Topics: SMEs, Financial services for women, digital banking, banking and millennials, segmentation, segments