Scottish Widows webinar, new building societies research & more...

Welcome to the Moneyhub Monthly Update, including the latest useful content, product updates, events and insights from the world of Open Banking & Open Finance.

This month we're looking at:

• Our upcoming webinar with Scottish Widows all about powering financial wellness ??
• The latest research into the building society sector's digital readiness ??
• Using Open Banking payments to manage customer debt collections ??
• How Nudge Theory can support your customers’ financial wellbeing ??
• Where you can find us next ??

Webinar: Powering financial wellness with Scottish Widows Workplace Pensions

Join us next Friday, 3rd May, for an insightful webinar with Scottish Widows, exploring our collaborative journey shaping the future of employee financial wellness.

You’ll hear from our CEO, Samantha Seaton, and Graeme Bold, Director of Workplace Pensions at Scottish Widows, as they discuss the power our partnership has in driving positive financial outcomes for all - and the transformative opportunities Open Finance has to offer the financial services industry. Register ??

Download: "Digitise or die": A call to arms for building societies

We recently sat down with building society leaders from the likes of Nationwide Building Society , Skipton Building Society , Yorkshire Building Society , Coventry Building Society , the Building Societies Association and surveyed 2,000 British adults to find out about the sector’s digital readiness and the opportunities a more data-led proposition might offer.

Here’s what we found:

• Nearly 1 in 2 building society members report difficulties in engaging with their services
• 80% of consumers believe that a good online platform is important when choosing a new financial provider
• 66% of 18-34 year olds would like more convenient access to products and services without the need to visit physical bank branches

Download now ??

Blog post: Using Open Banking payments to manage customer debt collections

The current consumer debt crisis hasn’t just illuminated how vulnerable consumer finances have become, but it’s also shone a spotlight on the inefficiencies of traditional debt collection methods. In this article, we’ll look at the scale of the challenge faced by many organisations and offer an Open Banking-powered solution.

Read the full post ??

Blog post: How Nudge Theory can support your customers’ financial wellbeing

There has been a lot of interest in Nudge Theory over the last few years - but what does it mean in practice, and more importantly, how can it help promote financial wellness, and bolster Consumer Duty compliance for your business?

Read the full post ??

Where to catch us next ??

• Matt Swinburne-Johnson and Chanelle Bramble will be at the Building Societies Association Annual Conference in Manchester | 8-9th May | More info →
• Simon Ripton MBA will be speaking at the TISA UK Annual Digital Conference in a panel discussion 'Unlocking the power of data in financial services and the role of AI' | Virtual | More info →

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