Financial services have always lagged behind other sectors (particularly retail and airlines) in their ability to access and use customer data. So a recent announcement that US-based fintech Plaid is entering the the UK market to offer to fintechs access to the consumer-account data held by established banks and other big players is likely to raise some eyebrows. Plaid has built up a very comfortable business in the US selling software to customers who tend to be challenger … [Read more...] about Plaid enters UK selling bank data to fintechs
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Gift cards retain popularity
New research by the UK Gift Card & Voucher Association (UKGCVA) shows that gift cards are maintaining their popularity - particularly with younger shoppers. The State of the Nation report, sponsored by First Data, found that out of the 2,000 UK consumers surveyed, 84% have purchased a gift card at some point in their lifetime, and of those that have, 87% are purchasing gift cards at least once a year. Reflecting the age-agnostic appeal of gift cards, purchasing penetration was high … [Read more...] about Gift cards retain popularity
Understanding emotions – moment by moment
Every decision we make is driven by emotion, but until now, measuring human emotion in real time has been impossible. However, according to new research from Rotterdam School of Management, Erasmus University (RSM), it is now possible to successfully track, moment to moment how someone really feels. Esther Eijlers, Dr Maarten Boksem and Professor Ale Smidts have developed a new method to measure and track emotions in the brain using electroencephalography (EEG). Esther … [Read more...] about Understanding emotions – moment by moment
Banks turning to fintech for customer solutions
Banks partnering for the experience Strengthening online security revealed to be a priority for almost two-thirds of banks More than three-quarters (84%) of banks are considering new fintech partnerships in 2019 in a bid to improve customer experience and a real-time response. Kyle Ferguson, CEO Fraedom The research, commissioned by fintech provider Fraedom, also found that other factors inspiring banks to partner with fintechs are better cash and card … [Read more...] about Banks turning to fintech for customer solutions
Patent for tracking time
“By monetizing time with blockchain, DDSS creates a new type of value system to recognize true loyalty through immutable measurement.” Dragonchain has received a USPTO patent for a blockchain loyalty system which tracks and monetises time. The product described in the filing corresponds to the application filed in November 2018 entitled ‘Security Systems and Methods based on Cryptographic Utility Token Inventory Tenure‘. In this, Dragonchain proposed a new value system, ‘Dragon … [Read more...] about Patent for tracking time
Travel brands rank worst of all for customer loyalty
As we all gear up towards our annual break, ask yourself how loyal you have been to your travel brands. Airlines, hotels, tour operators and destinations all come off badly in a recent survey. But are holidays a time to be loyal? Isn’t this a time for new experiences? Global travel brands may have spent billions over recent years putting customer love into the DNA of their advertising strategies, but for the majority of today’s holidaymakers and travellers, brand loyalty is firmly a thing … [Read more...] about Travel brands rank worst of all for customer loyalty
Shame on you Boots
What happened to the Plastics Pact? The news that Boots has digitised its Advantage loyalty card programme was completely overshadowed today by the unexplainable news that it was replacing paper subscription bags with plastic. "Livid" and "baffled" customers have been complaining to the company and at least one was so incensed she took her bag back to the store with "shame on you!" and "paper, not plastic!" written in capitals in black marker pen. Boots joined the UK … [Read more...] about Shame on you Boots
Google Pay adds functionality for rewards and loyalty cards
Offer data and transactions can be 'pulled' from Gmail Google Pay has gained more functionality in a new update to enable it to be more pro-active with a customer to improve their use of linked payment cards. The new functionality involves the ability to 'scan' Gmail for information on a user's financial perks, transations and other information. This includes rewards from using loyalty cards or other similar systems. This may mean it could work as a hub for card linked … [Read more...] about Google Pay adds functionality for rewards and loyalty cards
True value of points out in the open
Hilton and Lyft putting a dollar value on points Hilton and Lyft’s new US loyalty partnership is being seen as a very positive one for travellers, but it raises some question marks over the transparency of the value of points. Hilton members get completely free points for riding in Lyfts. Alternatively, it will also soon be possible to book rides with extra loyalty points. From May, the hotel giant and its ridesharing partner are linking loyalty programs to allow … [Read more...] about True value of points out in the open
Have more sex, urges Jack Ma, to employees working 9 hour days
Monitoring possible effects of Alibaba's global ambition Jack Ma, founder and chairman of online marketplace Alibaba, has been even more controversial than usual recently. At a group wedding celebration of 102 employee couples attended by 10,000 workers, he sparked criticism for advising his newlywed employees to have sex six times in six days. Jack Ma, CEO of Alibaba and probably the world's riches man This is a play on his controversial company motto and work … [Read more...] about Have more sex, urges Jack Ma, to employees working 9 hour days
