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 Twitter at @davejvwallace and connect with him on LinkedIn.
Loyalty matters… enter embedded banking
Many big brands are now looking at embedded banking as a way to boost customer loyalty.
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.
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.
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?
Spanish fintech ID Finance lands €30m equity funding
ID Finance claims its fundraise is the biggest received by a Spanish fintech in 2023.
UK fintech Snoop reportedly mulling sale
Sky News reports founder Jayne-Anne Gadhia is in talks to either raise new funds or potentially sell the business.
Singapore’s Kredivo Holdings secures $270m in Series D funding
Japanese banking giant Mizuho Bank led the funding round, contributing $125 million.
JP Morgan snaps up VC investment analytics software firm Aumni
The financial details of the acquisition, expected to close in H1 2023, have not been disclosed.
Mangopay acquires fellow European paytech WhenThen
WhenThen’s co-founder and CEO, Kirk Donohoe, has been named Mangopay’s chief product officer.
Suffolk Building Society partners ieDigital for new digital savings platform
The new eSavings platform will be powered by ieDigital’s Interact software.
Employee financial wellness start-up Rain lands $116m in equity and debt
The total funding is made up of a $66 million Series A equity round and a $50 million debt facility.
Bank ABC taps Temenos and NdcTech for core banking overhaul
Temenos’ core banking tech will also be used to power Bank ABC’s ila Bank, a digital mobile-only challenger.
Griffin partners Cable to strengthen BaaS financial crime controls
Cable says its tech will help Griffin “monitor, identify, and address financial crime control risks”.
Egypt’s Faisal Islamic Bank taps iGCB to power its digital banking services
The bank will deploy iGCB’s cloud-native CBX Retail (CBX-R) solution.