According to the Financial Times, Lloyds Banking Group is exploring how it can use its massive dataset of customer transactions to transform itself into what it calls the “UK’s biggest fintech.”
Tag: fintech
Banking Apps “Save Brits Average of £173 a Month”
Nearly half of Brits have saved money from using banking apps, crediting instant access to statements, savings goals and payment reminders for helping them to save cash. Interest in challenger banks on the rise, with nearly 1 in 5 (18%) using a challenger bank or app, and a further 25% interested in doing so.
first direct Partners With Financial Platform Bud
first direct is partnering with Bud to trial a new business model, which provides customers with an integrated offering of financial services products and tools from across the market, including those from other providers.
UK Consumers “Sceptical” About Benefits of Digital-Only Banks
New digital-only banks seeking to break into the UK market will find the acquisition of customers a slow and challenging process, as consumers remain unconvinced that pure digital banks offer significant benefits over traditional rivals.