> I hardly think the UK banks aren't innovators.
I did not say they were not innovative at all. I said they were slow to innovate. This is being proven by the speed at which fintech startups are unbundling banking services into individual products.
Zopa, Nutmeg, Transferwise could have been built by banks. But they were not.
> Instant, Free transfers, including from one bank to another. Even on weekends & holidays.
- Paypal in 1999?
> APIs currently available (under the UK open banking government guidelines)
Yodlee supplies APIs already.
> they already have roughly £15k in the bank from Acq Bank revenue from Mastercard.
Really? Mondo are currently paying for the prepaid cards, and more to load them through the app. This is probably around 2% ? So 20k cost for this? Maybe I am wrong, but I can't see how else the card gets loaded by a free payment.
You are right, the barclays accelerator is great. And similar incubators and schemes are opening up.
I still think it's pretty clear that innovation is coming from the outside.
I did not say they were not innovative at all. I said they were slow to innovate. This is being proven by the speed at which fintech startups are unbundling banking services into individual products.
Zopa, Nutmeg, Transferwise could have been built by banks. But they were not.
> Instant, Free transfers, including from one bank to another. Even on weekends & holidays.
- Paypal in 1999?
> APIs currently available (under the UK open banking government guidelines)
Yodlee supplies APIs already.
> they already have roughly £15k in the bank from Acq Bank revenue from Mastercard.
Really? Mondo are currently paying for the prepaid cards, and more to load them through the app. This is probably around 2% ? So 20k cost for this? Maybe I am wrong, but I can't see how else the card gets loaded by a free payment.
You are right, the barclays accelerator is great. And similar incubators and schemes are opening up.
I still think it's pretty clear that innovation is coming from the outside.