Until 2018, every stage of the customer’s financial journey was typically owned by traditional banks. Regulation opened competition by requiring banks to share customer’s data to third parties of the customer’s choice. Open finance has granted entry into the market for new players, and fintechs are digitising processes at one or more stages of the
Around 17 years ago, I first had access to a computer with the internet. A typical millennial, the majority of my online interaction was through MSN messenger under an anonymous username. Probably something like ‘CoolCatXOXO’. My digital and physical identities were completely separate and giving away any ‘real-world’ information was totally out of the question.
The pandemic has accelerated the trend for service providers to move their product online or risk going out of business, making traditional ID methods of onboarding customers more challenging. But what does the future hold for a post-pandemic world? Will we see a return to paper documents, or will Digital ID become the new normal?
Tuesday 24 November 2020 by Lisa Moyle
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