Banking

Every Thursday, Leda Glyptis, 11:FS Chief of Staff creates #LedaWrites. This week she turns her attention to fabled kings, indecision and cows.

When the lights went out we got some of the brightest in the industry to shine a spotlight on Open Finance for our third virtual After Dark, a live recording of our award winning Fintech Insider podcast.

‘Digital’ is not technology, it is not an app. It is the human experience re-imagined in a way that removes entire steps of the value chain.

Can financial services firms support gig economy workers and solve the major issues – income smoothing, insurance and pensions – they face?

Messaging has redefined the way we interact with one another. Now, it could do the same with the ways we engage with banks...

I was once told by a very senior guy at a global bank that my attempts to create impact were ‘a bit socialist’. This statement represents an inter-generational misalignment on the expected role of financial services in society. This is taken from our Unfiltered newsletter. Subscribe now for a no BS, uncensored analysis of fintech news and hot topics delivered to your inbox each fortnight.

Every senior executive knows they need digital, every bank is spending billions on digital projects. So, why has so little digital transformation actually occurred?

Banks are plagued by a litany of archaic processes and outmoded design. That was just about bearable before the digital age, but is there any room for it today?

What if every time I bought a coffee, someone planted a tree?

Fintechs and the major financial services have been competing against each other for a while now. But that’s not likely to be the best course of action for either of them and now they’re working together.

Leveraging consumer trust is an important tool for all brands. Businesses are starting to take note and realising that in today’s all encompassing landscape, one product offering simply isn’t enough anymore.

Jeff Tijssen has spent his entire career in financial services and worked at many major banks before coming on board at 11:FS. He’s our Head of Consulting and you may have heard him on a few of our Fintech Insider podcasts or know him from working with us on one of our many secret projects. I took a moment to sit down with Jeff and talk to him about transforming big business, where the pain points are for the big businesses and why it matters.

There’s an old saying: The reason God was able to create the earth in 6 days and rest on the 7th is because they didn’t have millions of customers and legacy systems. That said, millions of customers and legacy systems can lead to some odd practices that never get questioned. I hear it a lot from people who work at big banks; change is hard, change takes time and getting something delivered no matter how small is a giant victory. This is what inspired our listicle last week. Many of us at 11:FS have been there one way or another, and we’re inspired by the fact that there’s so much to do in digital banking (It is still only 1% finished after all). So this blog post is a love letter, to those of you in the big organisations, trying to get shit done but feeling hamstrung.

You can catch the full Fintech Insider discussion on the news today at 4pm on the podcast here (go subscribe now, why are you waiting? You know you need to know this stuff asap).This week we had a great show as per usual with some really fun discussions on a lot of key stories in the fintech space. Our CEO David M. Brear and Principal Consultant Ross Gallagher sit down with our guests Eric Fulwiler, Executive Director of VaynerMedia and Teana Baker-Taylor, Chief Marketing Officer of Coinfloor.For our deeper dive this week I’m taking a closer look at a fintech issue at home that’s been upsetting many in the fintech space for quite some time. Delays to the RBS funding scheme persist, this time due to senior hires.

Chase ’s digital-only bank, Finn, launched nationwide in the U.S. a few weeks ago, to piqued interest from fintechs and banks alike. It’s by no means the country’s first digital only bank—Ally and Simple have been around for years—but it has won the race to be the first nationwide digital brand from the United States’ banking giants. (Citi has plans to launch a “national digital bank” soon, while Wells Fargo’s Greenhouse is due to come out of beta in the near future.)