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Financial Services must fix their missed opportunity as consumers demand more engaging digital experiences – PCR

Financial Services must fix their missed opportunity as consumers demand more engaging digital experiences 5th March 2021 Almost half of UK consumers (45%) prefer to engage with banks via apps rather than in person with members of staff, found a new study from VMware.  While two-fifths (39%) believe their smartphone is more important than their wallet in powering financial transactions (rising to 51% amongst 18-35 year olds). VMware surveyed more than 2,000 UK consumers, exposing the extent to which the digital-first, customer-obsessed mantra that was ushered in by the FinTechs and Challenger Banks, has transformed the customer battleground. However, while most industries underwent a seismic digital switch as a result of the pandemic, the Financial Services industry has not matched the level of innovation. Less than one-third (30%) of consumers believe the Financial Services firms they interact with now deliver an improved digital experience compared to before the pandemic

60 global challenger banks now rely on Temenos for their tech

60 global challenger banks now rely on Temenos for their tech By Oliver Smith on Thursday 21 January 2021 Image source: Max Chuard/Temenos. Today, banking service provider Temenos announced 60 challenger banks around the world now use its technology to power their services. Its customers range from Alba in Glasgow to Banco del Sol in Argentina and Varo Bank in the US, as well as Alpian, Flowe, FlowBank, Lunar, Next Commercial Bank, Pepper, WeLab Bank. “We see great traction globally where challenger banks free from the constraints of legacy technology recognize the potential for Temenos’ advanced technology,” said Temenos CEO Max Chuard. “Temenos has a relentless focus on innovation and is investing over $1bn in R&D in the next few years. With Temenos’ cloud-native technology, challengers benefit from lower total cost of ownership and agility, rapid innovation and can offer outstanding banking experiences.”

Neo and Challenger Bank Market Changing Strategies To Provide Competitive Edge | Starling Bank, MyBank, WeBank, Pockit, Ubank

Neo and Challenger Bank Market Changing Strategies To Provide Competitive Edge | Starling Bank, MyBank, WeBank, Pockit, Ubank
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