Simon Jones, Chief Customer Officer at ClearBank joined us for our ongoing series – FTT Chats – where we sit down with the great and the good of FinTech to discuss innovation, new entrants, and emerging technologies.
The discussion partly focused on the impact of Coronavirus on the ways customers are engaging with financial service providers. Simon explained that a necessity for remote interaction has accelerated both digital applications for onboarding, as well as the uptake of contactless payment technologies. He noted “If we continued on the trajectory we were on before COVID, it would probably have taken us another 5 years to get to the way we are working now.”
Simon also shared the strategies ClearBank have put in place to help Credit Unions modernize and adapt to digital payments. By making use of a cloud-based banking platform, Credit Unions partnered with ClearBank have been able to offer their customers fast, app-based payments which have been a lifeline to those relying on these organisations for financial support throughout troubling times.
The discussion closed with Simon sharing some fascinating insights and predictions for the future of financial services. Will the deep connection Credit Unions have with their local communities appeal to future generations? Will Building Societies adopt trends set by challenger banks to digitalise their services? How will super-apps be used to aggregate a range of specialist, digital financial tools?
Watch the full interview now.
ClearBank were a valued partner of FTT Virtual Building Societies which took place on 21st October. Available to view on demand is a fireside chat between ClearBank and their partner incuto focused on ‘Supporting Community Banks in a Pandemic and Beyond’.