What is Financial Literacy? ‘Financial Literacy’ is defined by Investopedia as ‘the ability to understand and effectively use various financial skills, including personal financial management, budgeting and investing.’ In today’s economy, the significance of Financial Literacy has surged, driven by the increased complexity of financial products and services which require detailed understanding to engage with […]
Over recent years, the adoption of mobile banking has led to significant and transformative changes within the global financial services industry. In the post pandemic era there has been a ~70% increase in customers using digital banking channels, propelling the global mobile banking market from $692.5 million in 2021 to an anticipated $1.3 billion by 2028. […]
In May 2023, the Home Secretary Suella Braverman presented to Parliament finding that 1 in 15 adults were victims of fraud in 2022. While the exact figures are unknown and difficult to determine, it’s predicted by Peters & Peters and Crowe that British individuals are losing approximately £8.3 billion per year to fraud. Background to […]
Download our new report today – “The Modern Mutual: What’s your strategy?” At Woodhurst, we believe that everyone should have access to better financial solutions, and we recognise the integral role that the Building Society sector plays in delivering this in the UK. Having spoken to more than half of the Building Society CEOs in […]
The financial services sector is undergoing a tech-driven makeover that is hard to ignore. We’re witnessing a wave of change where AI, once a futuristic concept, is now a driving force behind how businesses function and serve their clients. The insights shared by Goldman Sachs Research in April this year add a fascinating layer to […]
We had the pleasure of attending the Banking Transformation Summit yesterday, it was a fantastic opportunity to gain valuable insights into the ongoing transformation in the banking industry. Here are some of our key takeaways from the event: 1️⃣ Shifting Customer Expectations: The primary driver for banking transformation lies in meeting changing customer expectations. People […]
“Offering a carbon footprint is the start of the journey for me, it helps get the unengaged engaged, and offers them small incremental steps for improvement which will open up more opportunities and impact reductions for the customer based on their lifestyle choices and for our banking clients to create bespoke green financial products” – […]
Current state of Open Banking in the UK There is increased momentum in consumer adoption of Open Banking year on year: within the UK, the number of open banking users has surpassed 7 million for the first time, with 1.2 million of the 7 million active open banking users in the UK being first-time users. […]
In this video and the latest in our Fintech Feature series, listen to Ian Hogg talk about how FastPAYE are helping employers to support their employees’ financial wellbeing. We also discuss how FastPAYE are tackling the cost of living crisis, and how to use data insights and nudges to engage customers at the right time.
In this video, listen to Harry Weber-Brown CEO of TISA Digital explain the importance of Digital ID within the financial services and beyond.
Listen to Will Billingsley, Co-founder and CEO of ApTap, on how Woodhurst’s SHIFT Open Finance Community has acted as a vital sounding board when driving their personal financial management tool to market.