Nick Gander

How fit for the future is your business?

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Fascinating discussion with Mention Me and one of The Foundation team, Edmund Bradbury, on what it means to be customer-led and what the world of professional sport can teach us about great customer experience. Have a listen 👇 #cx #customerexperience #leadership

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It’s not very often reviews gets adopted as National Vision, sometimes and in many occasions government policy reviews don’t end up seeing the light of day but our contributions into the Future of Payments Review 2023 has now been published as the UK National Payments Vision NPV. Delighted our contribution and many others formed UK economic growth strategy decades to come in establishing UK as one the leading Nations for driving payments innovation! https://lnkd.in/dgR9RgZD #payments #fintech #UK #vision

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Do you struggle with late payments for your business? To combat late payments harming businesses, especially SMEs, the Government has expanded on the Reporting on Payment Practices and Performance Regulations. Find out more: https://bit.ly/3y23z2k #UKbusiness #BusinessOwner

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Looking to elevate your personal brand on social media? 📲 Check out these 8 essential steps to make your mark and stand out in the digital world ⤵️ https://ow.ly/ONt750RqML7 Monzo Bank #StartUpUK

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Current account customer satisfaction tables are often interesting! No major surprises here, as fintechs Monzo Bank, Starling Bank and Chase do well, as does Nationwide Building Society. With Virgin Money and The Co-operative Bank plc doing badly, I wonder how the takeovers by Nationwide and Coventry Building Societies will impact their performance?

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Instead of the same old “savings tips” here are some great “spending tips”…. Princi Thilak Radhika Doctor fabulous work!

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👇🏼💡TISA's Manifesto - 10 key recommendations to improve the financial wellbeing of UK households

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Calling all CX finance pros 📣 Struggling to identify vulnerable customers with your eagle eyes? Feeling a little lost in the sea of data on consumer duty? This webinar's got your back! We'll show you how to leverage the power of AI and data to identify and support vulnerable customers like a pro, so you can ace consumer duty. Join us and learn how to: 🤖Spot hidden vulnerabilities with the help of your trusty AI sidekick. 📊Use data to become a champion for customer support. 💪Make your organization the ultimate protector of vulnerable customers. ️ Register now! Seats are filling fast 👉https://ow.ly/RmlY50Rm1Ox #ConsumerDuty #FinancialServices #CustomerExperience

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📊 This report on SME data is becoming a bit of a hot topic this past week. I've been talking with industry partners about it, and there's no doubt of the potential to change the game for SME financing. Whether you're a lender, working in a fintech, or just interested in how small businesses get funded, this report has some eye-opening insights. Here are the key points that stood out for me: ✅Data validation is crucial. While accounting data forms the foundation, cross-referencing multiple sources ensures accuracy and reliability in decision-making. 🏢The core SME market is underserved. Open banking solutions cater to smaller businesses, but 45% of UK market turnover lies in the Commercial Lending sweet spot. Are we missing opportunities? 💡Rethinking data provision models. Instead of lenders building complex in-house solutions or relying solely on open banking, leveraging specialized data aggregators offers a more scalable approach. Thoughts on these findings? How can we better serve the SME lending market? #wegetfinancialdata #SMELending #FinTech #DataDrivenDecisions

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💚'd this really open discussion with great audience questions on what is/isn't working for #smallbusiness when it comes to #Banking 🏦 Thanks Dave Sharpe🎤 for a great chat at the Federation of Small Businesses (FSB) expo yesterday 🔑 Takeaways 👇 💳 Access to credit still #1 issue, particularly where under 2 yrs trading history. #Fintech providers are changing things (now 50%+ of SME lending), but a long way to go. ❌️ Great audience question from Tina McKenzie MBE re the issue of 140k+ #SME's being offboarded by Banks last year. Discussed the many regulatory challenges driving this but agreed that change is definitely needed in this area to protect firms from broad brush stroke decisions. 🐌 Other key issue is ease of applying for a #businessbank account, with increasing signals that 'untypical' risk profiles facing longer application time frames 🪙💰 Fees still the #1 decision driver when choosing an account, but functionality increasingly important, with businesses now expecting features like tax pots, spend categorisation, invoicing etc. ☎️ Final hot topic was the question of servicing, with growing frustrations around banks removing branches and also introducing chatbots. Agreed that being able to speak to a human is essential and increasingly a decision driver when it comes to choosing a #bank Absolutely loved the other speakers Katie Freemantle, Caroline Platt, David Black & Sharon Kaur Jandu OBE. As always, Cashplus Bank loved being there and also being able to sponsor the #FSBawards in the evening - Stuart Woolley, Nick Biggam, Sam Fraser and I had an absolute blast. Too much to say about all the amazing winners at the 🏆awards evening part, so will save that for a separate post 😁 See you all next time 👋

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Starling Bank are profitabile for the THIRD YEAR running! 💰 📈 🏦 The digital banking group reported a 54.7% INCREASE in pre-tax profits to £301.1m while their revenue grew by 50.6% to reach £682.2m which was driven by STRONG growth in revenue, deposits, active customers AND customer transactions. 🤝 🚀 Its' SaaS provider Engine by Starling also signed two clients in Australia and Romania and is REVENUE-GENERATING with Salt Bank (Romania) achieving 200k customers onboarded within the first MONTH of launch! 👨‍💻 David Sproul, Group Chair of Starling, said: “Starling is now an established part of the UK banking scene. The percentage of active accounts now stands at nearly 80%, while total transactions rose by 21% to £174.1bn during the year. We have more customers, using our services more often, continuing to deepen their relationship with us. “We look forward to welcoming our new Group CEO, Raman Bhatia on 24 June. He brings a wealth of experience in consumer technology, banking and fintech expertise as the Group enters its next phase of growth.” Read more on the link below! 👇 John Mountain Engine by Starling #starlingbank #fintech #fintechnews #fintechindustry #ukfintech #profitability #financialservices #banking #digitalbank #bankingtechnology #saas

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👏🏻👏🏻👏🏻 It’s one thing to know your customer and another to produce copy that truly resonates with them. Nice one team keep ‘em coming! #knowyourcustomer #content #authentic #lifestyle #motorfinance #finance #reality

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I thought I would write about Customer Vulnerability today. It is something that is top of mind for many organisations, particularly FS as a result of Consumer Duty. At Metro Bank (UK) I have been pivotal in helping the business to better understand the needs of our vulnerable customers. For me, this also feels deeply personal. In the last three years, I have experienced many of the vulnerable markers - financial stressors due to divorce, the loss of both my parents and now the loss of my job. Vulnerable Customer strategies matter. The way an organisation treats a customer in these life changing moments can make all the difference. Be human. Be empathetic. Above all else do not add to the emotional and mental burden. Lastly, don’t forget that your employees can be vulnerable too. If I can help your organisation understand vulnerable customers and provide a genuinely human perspective, please get in touch. #opentowork #vulnerablecustomers #consumerduty #voiceofthecustomer #customerexperience #jobhunting

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This is great news on our #AssetFinance product development, as we can help more business buy or lease the equipment, vehicles and machinery they need to #keepbusinessmoving and achieve their ambitions. Know anyone that you think could make use of this facility in their business? Get in touch 👍 #fundingpartnerofchoice

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𝟑 𝐑𝐞𝐜𝐞𝐧𝐭 𝐌𝐨𝐯𝐞𝐬 𝐭𝐡𝐚𝐭 𝐒𝐡𝐨𝐰 𝐇𝐨𝐰 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐢𝐬 𝐅𝐥𝐚𝐯𝐨𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐨𝐨𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 🍴 1️⃣ Monzo Bank’s ATMmmm pop-up offering Greggs sausage rolls is a calculated move to deepen customer engagement. By gamifying the banking experience and creating a tangible, shareable reward, the challenger bank is subtly reinforcing its brand as a disruptor that understands its customers on a deeper level. 2️⃣ OpenTable's collaboration with Visa represents a strategic alliance that leverages the power of rewards and exclusivity to drive dining traffic. This partnership signals a growing trend of financial institutions using their vast customer bases to influence consumer behaviour and create additional revenue streams. 3️⃣ American Express' acquisition of Tock strategically positions it as a gatekeeper to the dining elite by controlling both the payment and reservation systems. This vertical integration grants the company unparalleled insights into consumer behaviour and preferences, enabling highly targeted marketing campaigns and personalised offerings.  ______________ 🍽️ These three moves signal a seismic shift in the dining landscape, transforming it from a mere consumption experience to a complex interplay of finance, technology, and taste. These three power players are laying the groundwork for a future where financial institutions are at the heart of the dining experience. 🍞 To truly understand the full menu of opportunities and challenges in this space, delve into our report, "Toast Teardown: Vertical SaaS meets Embedded Finance." We dissect Toast's success in offering a comprehensive suite of financial services to restaurants, from lending and BNPL to payments and insurance. This deep dive reveals the potential for disruption and innovation in restaurant finance, providing invaluable insights for businesses and investors seeking to capitalise on this burgeoning trend. Grab your copy of the full report here 👉: https://lnkd.in/g8DwA4Y3 #fintech #embeddedfinance #digitalpayments #digitalbanks #payments #restaurantindustry

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As a financial services marketer, I purposefully have many bank accounts to keep an eye on how banks and payment service providers communicate with their customers. With the recent rule changes for Authorised Push Payment (APP) fraud in the UK, I've seen clear customer-focused comms...and others that are perplexing. Here are some improvements I'd make to this example: ⭐ In the first few sentences, make it all about me, the customer. Not the industry, not the bank, but what does it mean to me? E.g. 'There's a change coming up: if you get scammed, we'll help you get your money back.' ⭐ Don't just use dry facts ('...we’ve been a signatory to the voluntary Contingent Reimbursement Model...'). Use compelling, emotional language to reassure me that I'm well looked after e.g. 'we want to do all we can to look after your money.' ⭐ Format into shorter sentences. Maybe use bullet points. This long paragraph is a slog to read on a phone. Many financial services companies must communicate better with their customers to help them understand how they're looking after their money. #financialservicesmarketing #customercentric #clearcommunication

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