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Articles by Jo Howes
Vulnerability moves from peers to teams
For every event we organise or piece of content we publish about innovation and technology, there’s another about culture, or the wellbeing of the people that are part of BIMA. It is, after all, the people behind the technology that count most right? Nothing brought this home more than last month’s BIMA round table. The discussion was how can we be and inspire courageous leaders and the conversation blew us away with how open and vulnerable our community is prepared to be.
What do consumers want to use Open Banking for?
In our recent survey of UK bank account customers, we found that only a third of respondents were aware of Open Banking, yet two thirds of the same overall consumer group are keen on the features that Open Banking promises to unlock.
The opportunity for open banking awareness has been missed
Considering it was heralded as one of the biggest revolutions in retail banking of recent times, consumer awareness of open banking remains disappointingly low in the UK. In new research conducted by CREALOGIX, two thirds of the 2,000 respondents questioned had no idea what open banking was or is. Furthermore, less than 8% of respondents regarded open banking as a good idea, and two thirds expressed concerns about privacy, data loss, or fraud due to open banking.
The future of fintech and digital banking
Jo Howes is the Commercial Director of CREALOGIX UK, the Fintech100 company which is among the global market leaders in digital banking with headquarters in Switzerland and offices in Germany, London and Singapore. Here she shares with us her predictions for the short, medium and long term of the wealth management and banking and finance industry. The future of fintech and digital banking In 2019, we are going to see a continued wave of new robo-advisory offerings in wealth management.
The new face of wealth management
Jo Howes, Commercial Director at CREALOGIX UK argues that the wealth management industry faces an urgent challenge to embrace digital. Wealth management as a business sector is long overdue for a digital overhaul. Too long associated by consumers with elitism, opaque decision-making, and traditionalism, the industry is subject to several impactful consumer trends that will provide fertile ground for new challenger brands, and increase the pressure for incumbents to step up the pace of innovation.
The race for crypto integration
Jo Howes, commercial director at CREALOGIX, considers the role of 'crypto assets' in both challenger and incumbent banks' fintech strategies. When cryptocurrencies first emerged onto the scene in 2009, it was with little fanfare. Even one year after Bitcoin’s invention by the mysterious Satoshi Nakamoto, the price of a single Bitcoin was still less than 50 cents.
Why Banks Are Lagging On Open Banking
The world of consumer banking is becoming more democratic, as the old banking powers begin to lose their grip and their monopolies. The latest Open Banking regulations have signalled a subtle shift in the world of consumer banking. New competitors are being allowed to compete in a marketplace long dominated by a select few financial giants.
Are your digital transformation drivers aligned with your success metrics?
In an ever-transforming world, businesses across all sectors must always be ready and able to evolve in the face of the constant challenges thrown at them. The ability to deliver ongoing business transformation is crucial to enable businesses to keep up to speed with this rapidly changing climate. Getting your metrics correct is vital.
Making Open Banking Work For Consumers
The latest Open Banking regulations should have ushered in a new era in retail banking for consumers. Should have. Instead, we have seen a much more subtle change in the banking sector, without much fanfare. New competitors are being allowed to compete in a marketplace long dominated by a select few financial giants. A host of challenger banks and fintech providers now have greater capability to provide financial services direct to consumers outside of the traditional banking framework.
Why banks are lagging on Open Banking
The world of consumer banking is becoming more democratic, as the old banking powers begin to lose their grip and their monopolies. The latest Open Banking regulations have signalled a subtle shift in the world of consumer banking. New competitors are being allowed to compete in a marketplace long dominated by a select few financial giants.
Banks have a duty to educate customers about Open Banking
Jo Howes, Commercial Director, CREALOGIX Group, thinks Open Banking should mean a wholesale change between the relationships of banks and their customers. The recent implementation of new Open Banking regulations have made ripples in the financial world, but they have not had quite the impact on consumers that was expected. In fact, there have been numerous stats from various sources that all show that the majority of consumers remain in the dark about what Open Banking means for them.
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