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FCA Comment: Banks must Use Data to Drive Personal Service
Mike Turner, Principal Business Advisor at SAS UK & Ireland:
“The FCA’s resolution to shake-up the status quo in banking is a timely reminder of how it is prioritising the interests of consumers.
“To demonstrate compliance and protect market share in what should be a more competitive landscape then all financial institutions need to work harder to retain and attract customers.
“Our recent study finds that a fifth of retail banks have the ability to adjust offers and services “in the moment” based on insights into customers’ behaviour, while 74% believe the capability to act in the moment would increase revenues by double digits. So, what’s stopping them?
“With a potential 2.2 million people “suffering financial distress”, banks need to develop a customer-centric approach that uses the wealth of insights available to drive a more personalised service that offers customers the right financial products at the right time. This means, banks need to be able to tailor current accounts and overdraft services so they’re more in line with a particular customer’s interests, demographics, location and account history. This will enable them to boost consumer confidence, grow margins and maintain market share whilst reassuring the regulator that they are acting in the best interests of customers.”
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CLS Appoints Six New Board Directors
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of six new members to its Board of Directors at the CLS Annual General Meeting held on 9 June 2026.
Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World
Mobey Forum’s Fraud Expert Group has published a new report, Rethinking Fraud in a Connected World: Trust, Collaboration, and Resilience in the Digital Ecosystem, exploring how fraud is evolving beyond traditional banking threats and why stronger collaboration across industries is becoming essential.
SumUp Launches in Canada
SumUp, the global financial technology company, today announced its official launch in Canada. The milestone makes Canada SumUp's 38th market and its latest step in building out its presence across the Americas, as the company continues its mission to make commerce simpler and more accessible for all businesses worldwide.
European Fintech Association Elects New Board of Directors
The European FinTech Association (EFA) today announced the election of its new Board of Directors, bringing together senior leaders from across Europe's fintech ecosystem to guide the Association's work over the coming term.
G+D: Navigating the Future of Fintech Agility and Innovation
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Connect IFA Strengthens Leadership Team to Drive Growth and Enhance Adviser Support
Connect IFA Ltd is pleased to announce key leadership appointments designed to strengthen its commitment to growth and enhance the support it provides to advisers and network members.
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