Is Open Finance too open for building societies?
Open Finance is one of the most radical innovations in the financial services sector at present. The Building Society Association (BSA) recently commissioned a piece of research on: The impact of Open Finance on Mutuals’ business models. The BSA summary states that “In the savings market, a personal finance app could use Open Finance data […]
The Role of Open Banking in Protecting Vulnerable Customers
In 2024, becoming a digital-first Financial Institution (FI) is not just an advantage, but a necessity for most that wish to both retain and gain customers. The emergence of Open Banking has compounded this, becoming a catalyst for innovation and customer-centricity. When discussing the benefits of Open Banking, the theme is often around how it […]
Is spending money (wisely) the new way forward for financial literacy?
As we gear up to the festive season, it is not a surprise to hear that UK Consumers are loading up their shopping carts in celebration, with total spending rising to almost £110 billion in the last three months of 2023. However, with increased spending and the continued cost of living crisis, one thing is […]
Fintech Feature – Cogo
“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” – […]
Open Banking Aggregators: The lifeblood of Open Banking, Open Finance & Open Data
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. […]
Woodhurst sits down with FastPAYE
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.
How to prepare for a bank PoC
It’s not news that more and more banks are realising the value of partnering with fintechs, but as a fintech, how do you make sure you maximise your chance to prove your concept and ensure it really sticks? Preparing for a bank PoC can be difficult, not just from the perspective of the fintech, but […]
Fintechs: aligning our carbon footprint with our consumption?
Can fintechs become the new champions of sustainability? Sustainability is no longer just a ‘buzzword’ for the millennials – it has ignited ESG conversations across multiple industries, most recently as financial service products diversify. Accessible through Open Banking, providers can obtain a customer’s transaction data and, using new product features typically known as carbon or […]
Fintech Feature – fena
fena aims to democratise Open Banking access for payments and data with affordable and easy to integrate solutions. They offer data and payment connections to the Open Banking ecosystem with a suite of APIs, SDKs, plug’n’play extensions and apps, and build software solutions on top of Open Banking APIs. We spoke to Gosia Furmanik, the […]
The true cost of financial wellbeing
What is Financial Wellbeing? Money problems are one of the key drivers for poor mental health. People with problem debt are significantly more likely to experience mental health problems – with nearly half (46%) of people in problem debt suffering from poor mental health. What’s more, there is significant stigma around both debt and mental […]