Watch Out, the New Banks Have Arrived | FC Business Intelligence

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Competition in banking is fiercer than ever moving in to 2015. The battle to reduce churn and focus on new onboarding strategies has led financial services in an epic race to the bottom.

Old meets new in the banking space as FC Business Intelligence announces its line-up of attending organisations at the Customer Analytics and Insights in Retail Financial Services networking summit. Fifty attendees are already registered to attend coming from a diverse range of companies like Knab Bank, Virgin Money, Swedbank, the Cooperative Bank, Barclays, Raiffeisen Bank, Lloyds and many more.

For news on the line up of attendees, go here http://bit.ly/1zRW450

This year Virgin Money has moved even further in to the retail banking space by offering current accounts (LoveMoney, https://www.lovemoney.com/news/31618/virgin-money-launches-first-current-account). This is certainly not the first of the new financial offerings to enter the market over the past few years.

Two of the UK’s biggest retailers have exploded on to the banking scene with M&S Bank and Sainsbury’s Bank. Metro Bank has started up as the first new high street bank in over 100 years. Newest arrivals Paragon Bank and Axis Bank have also emerged as new contenders to the market.

Across the waters, continental Europe is not being left behind with Netherlands-based Knab Bank and Germany-based Fidor Bank – both internet banks – standing in the spotlight as new, innovative and trendy.

Competition in banking is fiercer than ever moving in to 2015. The battle to reduce churn and focus on new onboarding strategies has led financial services in an epic race to the bottom.

In a recent survey 77% agreed that their organisation has changed significantly over the past 5 years to accommodate for improved data and analytics functionality (FC Business Intelligence, http://www.customer-analytics-in-finance.com/media-centre.php).

Meeting this rivalry face on, the Customer Analytics and Insights in Retail Financial Services networking event (http://www.customer-analytics-in-finance.com/index.php) puts this changing banking scene under the microscope. It analyses the nuts and bolts underpinning the successes being made using data and analytics to better corroborate marketing and digital platforms.

UK Supermarket giants, Tesco Bank has also not been shy to claim its territory in this space since its arrival over 7 years ago. Earlier this year, John Halpin, Head of Customer Analytics joined the inaugural event where he sat amongst a variety of players including AIB Bank, BNP Paribas, Royal Bank of Scotland and Santander. He commented that he saw a“wide variety of topics and debate [and] new useful insights” at the show.

The question must be raised, what can new banks do that old ones can’t? The event will bring together new financial players to speak about their emergence on to the scene and will look at what traditional players are doing to counter their challengers.

About FC Business Intelligence

FC Business Intelligence has been around for over 20 years and provides news, reports and events services across 30+ industry verticals. Our Financial Services Analytics department has now run several different events including a US and UK version Banking and Insurance Analytics events which have been extremely well received across the banking sector.

Brittany Marshall, Head of Marketing, Financial Services Division, FC Business Intelligence
W: http://www.customer-analytics-in-finance.com | T: +44 (0) 207 422 4369 | E: bmarshall(at)fc-bi(dot)com

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