Last month, Fiserv organized a seminar about “How to Start a New Bank” which invited finance experts and banks from across the industry to discuss the challenges in setting up a new bank in the UK.
The presentation by Victoria Raffé (shared below) shared perspectives on the changing regulatory environment and other factors enabling challenger banks in the U.K.
Bob’s Guide, a financial technology blog, interviewed
CMO, International at Fiserv, Travers Clarke-Walker and the interview provides some interesting insights into the avenues for new banks to enter the UK banking circle. Mr. Walker observed that it is hard for traditional big institutions to innovate easily:
Big institutions spend 50 – 90 per cent of their yearly budget on keeping the institution complaint, and are designed in a way which makes it hard for innovation to get done.
You can go through some more slides from the seminar. Chris Skinner
, chair of the Financial Services Club
, presented a brilliantly in depth view of the digital transformation in banking and payments at the “How to Start a New Bank” seminar hosted by Fiserv.