Archives: January 2021

Increasing the effectiveness of AI projects

It is a stark reality that 9 out of 10 AI or Machine Learning projects fail to make it to production. In some cases, this is understandable. Many AI projects are experimental in nature and therefore will not be suitable for a full production deployment. However, it’s difficult to believe that this should be the […]

How will Open Finance play out in the long run?

Many of us are thinking about how Open Finance will begin to impact our relationship with our money and the institutions we interact with, but there isn’t much focus on how it will really play out in the long run. Much like the 2018 Netflix interactive adventure Bandersnatch, we think there are several possible alternative […]

Fintech Feature – Moneyhub

Moneyhub is an Open Finance data, intelligence and payments platform.  Their APIs and white-label solutions power businesses – both from within and from outside of financial services. Providing data connections and intelligence, they also initiate Open Banking payments to enable hyper-personalised experiences that drive customer engagement. Their vision is to enhance the lifetime financial wellness […]

Forget Cashless – should we be focusing on establishing a Cardless society?

Creating a cashless society has been a frequent topic of discussion over the past few years, understandably so with the use of cash decreasing year on year, reaching an all-time low before the pandemic. Cash represented only 23% of all payments in 2019 down from 48% in 2014. The downward trend in the use of […]

Fintech Feature – Mettle

Fintech Mettle provides free business accounts to small businesses with the aim of helping them ‘start, run and grow’. Mettle helps small business owners ‘get paid faster’ with invoices on the go and payment matching, ‘get tax ready’ through categorising transactions and exporting data, and ‘sync with accounting software’ via integrations with popular providers like […]

Open Finance – SME

Retail banking has always been the poster child of innovation, while SME and commercial customers are typically left behind and often undeserved. SME customers arguably require the most support from their banks, as these companies have a greater list of needs than a retail customer but may not have an in-house finance department to deal […]

Open Finance – Mortgages

Today, getting a mortgage on a property is a cumbersome process. The worst part is that consumers don’t even want to purchase a mortgage – they want to buy a house. The mortgage is, unfortunately, a necessary evil. Consumers highlighted three key challenges with the mortgage process today How can Open Finance improve the mortgage […]

Open Finance – Consumer Credit

The consumer credit industry is arguably more open to change and innovation than most across financial services, and therefore a beacon of opportunity for Open Finance. 15 million people in the UK do not have access to affordable credit, creating huge disparities in financial inclusion. Credit risk assessments can unintentionally disadvantage people based on background, […]

Open Finance – Insurance

One of the biggest challenges when purchasing insurance is the complex nature of the product. Many customers are put off by the sheer volume of data they must enter, only to receive lengthy policy documents filled with jargon. In fact, less than 50% of customers understand what factors determine the price of their insurance policies. […]

Open Finance – Pensions

The pensions market is a 6 trillion-pound industry that is ripe for innovation and disruption. For too long consumers have passively built up a pension pot with no real regard for the future life it will allow them to lead. Any attempt to increase consumer engagement with their pensions or to optimise processes more generally […]

Open Finance – Wealth Management

We should all be trying to make the most of our money and making it work harder for us. But to 60% of all customers the process seems difficult, with a number of hurdles to cross that ultimately prevent them from investing at all. How could Open Finance solve some of the key issues with […]

Open Finance – Savings

Saving is a critical element of managing our personal finances, and it tends to be the method that most individuals rely on, with investments being more financially exclusive in many respects. In fact, savings is arguably the first step in solving two key issues, Financial Inclusion and Financial Wellbeing. Somewhat worryingly, 1 in 10 Brits […]