The heart of the matter: a customer-centric look at fintech
In this series, The heart of the matter, financial services veteran Dave Wallace talks about people, brands and insight. He looks to tell the customers’ story and bring their perspective, and how fintechs and financial institutions interact with their customers.
Dave is a true digital native and industry legend! Throughout his career in the fintech industry spanning over 25 years, he has been obsessed with helping brands connect effectively with their customers through digital channels. He’s a master at understanding customer behaviours and motivations, and his expertise has helped brands like HSBC, RBS, Manulife, and ANZ develop and implement digital strategies that put the customer first.
He started his career in the mid-1990s, helping Yellow Pages get online and paving the way for the digital revolution.
Dave’s passion for the customer experience led him to found HeathWallace, a specialist agency that helped banks and other blue-chip clients deliver customer-friendly digital services. He grew HeathWallace into an international powerhouse, with offices in the US, Asia, and Australia.
In 2008, he sold HeathWallace to WPP and after ten successful years as part of the group set his sights on his next venture.
Enter NMD+, Dave’s latest business venture that’s focused on developing customer-centric mobile propositions that add true value to the end customer, which clients like Unifimoney, Aviva, First Abu Dhabi Bank, and St. James’s Wealth Management.
Follow him on X at @davejvwallace, connect with him on LinkedIn, and listen to the Demystify Podcast, which Dave co-hosts.
The history of banking technology vs the history of banking experience
Over time, the transactional aspects of banking have been solved, but not the emotional ones.
It’s boring to say, but boredom is important
Studies suggest that boredom can serve as a catalyst for creativity under the right conditions.
How Lithuania became a fintech hub in Europe
Lithuania’s fintech scene is thriving thanks to an environment that encourages innovation and collaboration.
Rising waters, rising risks: floods and the global financial tide of climate change
If the models are correct, then the financial impacts of climate change globally could be devastating.
A visit to a data centre, quantum computing and how lentils determined COP28
Data centres aren't going away, and we'll likely need more as we head into our collective digital future.
The perspective on AI from Abu Dhabi Finance Week 2023
I truly believe that 2024 is the year that GenAI goes from talk to action.
The intersection of finance and sustainability
Companies such as HeavyFinance in Lithuania are combining fintech with sustainable agricultural practices.
Improving safety in AI
Having regulators test AI before release will ensure a much better understanding of its capabilities.
Dodging a dark data disaster
The amount of dark data being collected by firms is increasing, and its overall environmental impact is massive.
Breaking Moloch: the game theory monster in AI, economics and beyond
Can banks stop their self-destructive tendencies and escape the race to the bottom?
Transforming the user experience: the dawn of dynamic knowledge rendering in financial services
With GenAI in financial services, we're not just on the cusp of significant change – we're in the midst of it.
Sibos 2023: How Economy-as-a-Service is shaping the way we work
The Economy-as-a-Service (EaaS) model is progressively reshaping multiple sectors, most notably financial services.
A church, a sauna and climate change
Finding ways to educate people on climate change, highlight the risks and change behaviours is essential.
Feedback from the front line of generative AI
It's been intriguing to see the differences in thinking from companies when it comes to generative AI.
Innovation at the intersection of money, AI, identity and blockchain
AI is proving to be an existential threat to identity. So how is the world responding?
The transformative impact of AI and its implications on the future workforce
The AI revolution is well and truly underway. But what does it mean for the future of workers?
Go green software – your bonus may depend on it!
Embracing green software principles can unlock numerous benefits for financial services firms.
Let’s get physical!
The irony of the next wave of tech advancement is that it may force us back into focusing on the real world.
How SaaS and generative AI are positively impacting ‘experience thinking’
SaaS and generative AI are compelling the industry to concentrate on what users see and do.
Does Apple hold the key to meeting your future self in VR?
What all VR headsets have failed to do so far is come up with a groundbreaking use case.
Why is Apple taking a bite out of banking?
For Apple, maybe banking is just another brick in the wall, not the wall itself.
How digital payments are changing the world
In both sociological and economic terms, the rapid switch to digital payments is fascinating.
Curate and compile: the future of AI-driven fintech experiences
A new generation of generative fintechs is coming, and finally, the banking sector will be truly transformed.
Doconomy and Dreams
Two Swedish firms recently joined forces to help shape the future of climate action.
Loyalty matters… enter embedded banking
Many big brands are now looking at embedded banking as a way to boost customer loyalty.
Transforming transformation
According to McKinsey, 70% of digital transformation projects fail. So what is going wrong?
Demystifying digital transformation
There are a lot of parallels among the big banks in terms of why digital transformation is so complicated.
Lessons from reality TV
For me, the big lesson was we might not be correct or justified in our thinking as much as we think.
A warm welcome to 2023!
The start of 2023 has been interesting for the climate change agenda.
Reflections on 2022
As we hurtle towards the end of the year, let's take a look at how my forecasts for 2022 have turned out.
Changpeng Zhao, FTX and ‘cryptogeddon’
The FTX debacle will see the Wild West of crypto's emergent years replaced by control and discipline.
Are the machines coming for your job? Probably!
Generative AI may soon be able to build platforms or design new products in the financial services industry.
In conversation with Antony Jenkins, founder and CEO of 10x Banking
FinTech Futures columnist Dave Wallace shares three key take-aways from his recent chat with Antony Jenkins.
Sibos 2022: Achieving net-zero across an FI’s value chain
A number of associations are being spun up to support FIs to address the complexity around decarbonisation.
Embedded banking with Metro AG and Vodeno
Brands with large customer bases can use BaaS platform providers to create deeper relationships with customers.
The anti-ESG brigade, the finance industry and the green potential of Africa
We are entering interesting times in the ESG and climate change debate.
Lessons from a car that won’t unlock
Based on recent experiences, here are some thoughts on what finance can learn from the auto industry.
Blockchain, tokenisation and financial inclusion
The potential for Web3 to enable financial inclusion in populations is tremendous.
XR, banks and rewiring the system
Rewiring the economic system will be a challenge, but I think it's supercritical.
Best, the enemy of better in mobile banking
The challenge for the industry is how to go beyond what they have and deliver platforms beyond the transactional.
Decarbonising data centres
Many FIs are looking to utilise external data centres to reduce greenhouse gas emissions.
What the Actual Crypto is going on?
Out of this crash will come stable businesses that genuinely add value to people.
Building a donation platform in the most carbon-neutral way possible
NatWest, the Scottish Tech Army and GoCodeGreen recently collaborated on a new project.
Money talks
Expectations about what is acceptable from a CO2 emissions perspective have to mature.
Emotional connection in customer experience
Many digital financial services lack a "human heart". And that should be something that worries the industry.
The metaverse: sorting fact from fiction
Nobody seems quite sure what the metaverse actually is, but to dismiss it as just hype is to miss the point.
Waste! What is it good for? Absolutely nothing
Climate change is a complex problem, and its solutions are manifold and multifaceted.
A panel, a chat, and confirmation that ESG is a tough nut to crack
I recently attended a hackathon at Finovate Europe focusing on ESG in the financial services industry.
Making the world an ‘appier place
The outlook for apps is a happy one, and brands are finally starting to lean into their potential.
Can carbon coins help reduce your carbon footprint?
Connecting government accreditation and crypto can provide a viable alternative to carbon offsetting.
The carbon cost of technology and what to do about it
Banks and fintechs should understand how much energy they consume to make better informed decisions.
Teaching AI to have a heart
Unpicking bias in AI is a whole new fintech opportunity and one that appears to be very needed.
Digital twins in the metaverse
As we rush headlong into virtual worlds in the metaverse, the concept of digital twins will become more conspicuous.
The heart of the matter: three predictions for 2022
It's that time of year when crystal ball gazing is de rigueur.
Carbon as a currency
Linking currency to carbon could open the door to a better and more sustainable economy.
The rise of carbon-centric super apps
Looking to the future, increasing climate change could see the emergence of carbon-centric super apps.
Thinking net-zero
Every bank, fintech, and financial institution should now be looking to prioritise ESG and net-zero initiatives.
Aligning the finance industry with the Greta good
Let's dive deeper into what the finance industry can do to help tackle climate change.
BNPL: The now and the later
How can the BNPL industry do more to protect consumers and help the world we live in?
Sibos 2021: Financial services and the fight against climate change
How could climate change impact the finance industry and what more can companies do to tackle the issue?
Finding out about finfluencers
People are turning to influencers on social media for guidance on everything, including finance.
The path to personalisation
The path to personalisation in banking is apparent. But like every journey, it needs those first steps to be taken.
Globalisation, crypto and the new cold war
The emergence of blockchain and digital currencies is sparking a new tech battle across the world.
What Gen Z can tell us about the future of banking
All too often, the voices of young people seem to be ignored. Now is a critical time to talk and listen.
The social dilemma
With half the world on social media, why are so many FIs still shying away from it in fear?
Mobile first, second and third!
Most companies talk about the importance of mobile technology, but I'm not convinced there is a proper understanding.
What the hell happened to help?
Banks could do more to provide financial education, guidance and advice to customers.
Let’s talk about sex (as in gender), baby!
Women and men seem to differ in their attitudes to banks and banking products and services.
Customers don’t do what they should
There's a disparity between how banks think and what customers do.
The heart of the matter: customer-centric look at fintech
So much of what we conceive, discuss and celebrate is about tech. How often do we talk about actual customers?
Digital Asset’s Canton Network completes first trial with global banking heavyweights
Notable participants in the trial included BNY Mellon, Standard Chartered, Goldman Sachs and Broadridge.
Levenue snaps up MidFunder to broaden financing in Switzerland
The acquisition will enable Levenue to boost the footprint of its revenue-based financing marketplace.
Indian fintech Perfios lands $80m investment from TVG
The investment builds on Perfios’ $229 million Series D and reportedly now values the firm at over $1 billion.
eBook: Beyond the basics – a C-suite checklist for banking security strategy
Explore expert strategies to secure banking apps and get a detailed checklist for bolstering security measures.
Mastercard pilots new Smart Subscriptions feature in the US powered by open banking
Smart Subscriptions enables consumers to cancel, pause and resume their subscription-based payments.
Nationwide Building Society selects Auriga to modernise ATM software infrastructure
Nationwide currently operates a 1,200-strong ATM network across the UK.
Bank Muamalat signs multi-year partnership with Google Cloud to boost digital transformation
The bank has tapped Google for solutions in cybersecurity, data, marketing and AI, among other areas.
Metrobank in the Philippines taps Temenos for its wealth management tech
The Temenos Wealth solution will be implemented by the vendor’s regional partner CBTW.
Starling Bank names Ovo chief Raman Bhatia as new group CEO
Raman Bhatia will assume the position “in early summer”, subject to regulatory approval.
Video: Taktikal at FinovateEurope 2024 – Onboarding amid ever-changing compliance requirements
We sat down with Tinna Hallbergsdóttir of Taktikal to discuss the firm’s innovative approach to onboarding.