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NEWS Brits fall for FinTech
benefits of FinTech, according to research by Nationwide Building Society. And 51% fully expect the next generation of banking to add speed and convenience to their everyday money management.
65%
The survey of 2,000 people also found that 26% say the amount of mail they receive has reduced, while budgeting is now easier due to FinTech; 17% believe it is simpler than ever before to control various accounts at one time; 20% think virtual reality technology will replace real interaction within financial services; 43% believe iris recognition technology will form part of their everyday lives; 16% anticipate that augmented reality will help us to view and manage our spending; 25% state that advances in security on mobile devices and biometrics will mean cards or wallets are consigned to history.
At the same time, however, 22% were nervous that continued technological enhancements may mean that human engagement and interaction will be lost in the future. “Our research shows that customers are excited to embrace these changes as they genuinely benefit
Tide goes live
officially launched, offering a ‘nimble current account’ pitched at small businesses.
U
In December, IBS Journal reported that the venture had moved beyond a secret trial (involving those who signed up for priority access) to a public Beta. “With the website and iPhone app available to everyone, we would love you to tell your friends about Tide on Twitter, Facebook and LinkedIn,” it said in an email to users. “We’re also looking for early testers for our Android app. Moving into 2017, we will have more updates and product enhancements to announce.”
Tide is backed by the likes of LocalGlobe, the VC firm set up K mobile-only challenger bank, Tide, has
from them. Nationwide is committed to investing in the latest technology, but only when it helps our members have greater control and access to their finances,” says James Smith, Nationwide’s Director of Mobile & Digital. “While digital technology provides convenience, it is important to remember that it is people who offer service and Nationwide believes that the future of banking will be best of both worlds – digital convenience backed by market-leading levels of human service. This is why we are investing £500 million into our branch network, while partnering with FinTech organisations here in the UK and across the world to bring the latest digital improvements that respond to the needs of our members.”
Scott Thompson of Brits recognise the
by the Klein brothers, whilst UK Government advisor and Partner at Passion Capital, Eileen Burbidge, is Chairman and George Bevis, pictured, previously of Zopa and Barclaycard, is Founder and CEO.
Scott Thompson
www.ibsintelligence.com © IBS Intelligence 2017
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