Over recent years blockchain technology has been highly disruptive in the world of finance, with internet searches rising year on year. And it doesn't stop there, the development of blockchain isn’t slowing down, with many industry leaders declaring it has the potential to change how organisations do business.Continue reading
Over the last four years Executives Online have provided senior Executives to Challenger Banks of all sizes. Ranging from small start- ups at seed funding stage, through to those with a banking license and high growth, these banks have one thing in common... people that thrive off a driven culture.
Often founded by HNW individuals or PE / VC backed, Challenger banks are growing at a rapid and advancing pace, but this success it not without hard work and determination. There is often a perception that starting your own business will give you a better life balance and allow you to work less hours. If you think that your're in for a big surprise. Every successful start up I have worked with have proved to be highly driven, work at great pace and put in the extra hours.Continue reading
Executives Online have provided Executives and NED's to challenger banks of all sizes, from 2-4 person start-ups at seed funding stage through to those that have just received a banking license in high growth.
Most are picking a niche, whether it be full service end to end bank through to pure play digital offerings. They partner with us to bring on high caliber Executives and Heads of Product to develop and launch new propositions across current accounts, savings and lending products.
Working with Challenger banks on a daily basis, I have a unique overview, which got me thinking…
Britain's recent decision to leave the EU caused high levels of uncertainty and disappointment across many businesses. So, here at Executives Online our team set to survey over 1,000 senior leaders across the UK and Europe to understand the real details of the impact.
There was a great deal of uncertainty when the Brexit news first hit but what was certain was that many businesses were likely suffer. Financial services was predicted to be one of the sectors most likely to be impacted long term due to uncertainty around the future 'passporting' and the single market.
On a recent Radio 4 show, Alasdair Smith mentioned that customers are still very loyal to the banks that hold their current accounts, despite the fact that many are paying substantial fees for unauthorised overdrafts and have been for many years.
If the financial impact of paying high overdraft fees isn’t a big enough incentive for customers to move banks, then is a government comparison site that requires the input of personal bank details really the tool that is going to change that behaviour?
Royal Bank of Scotland and NatWest have warned that customers are likely to be charged for depositing money into their own accounts. NatWest, one of Britain’s largest banks has made the decision to move towards negative interest rates; making them the first UK bank to do so.
Negative interest rates are indications that new limits need to be explored in times of crisis and are primarily designed to reduce borrowing costs for customers. This should encourage people to take out more loans rather than save.Continue reading
PSD2, Blockchain, Fintech… just some of the current raft of hot phrases and topics that I speak to senior leaders about every day as the Director of our Technology Practice at International headhunting firm Executives Online.
Having worked both for and with a number of banks over the last decade, I believe that the world of Financial Services has never been more exciting.
The recent arrival of fresh competition and challengers to the traditional Retail Banks is well documented, but without doubt the sector that is bracing itself for an influx of innovation is the credit card and payments market.Continue reading
Solvency II went live earlier this year after 10 years of preparation and over £3bn in UK insurance investment. The deadline to implement Solvency II across the EU was January 1st 2016 and the objectives of this legislative change were to improve consumer protection, modernise supervision, deepen EU market integration and increase the competitiveness of EU insurers.
Although it's too early to tell whether this legislative change has had the intended impact, we spoke to more than 40 insurance experts to gauge their reaction to the implementation of Solvency II so far and what effects it was having on the insurance industry as a whole.Continue reading