Barclays HQ, CYBGs millenials, Natwest’s AI and Santander’s strategy in banking

by | Jul 3, 2017 | Challenger banks

  • Banks including Barclays, Royal Bank of Scotland Group, Lloyds Banking Group and Tesco Bank have all stopped buying and selling Qatari riyals. The foreign exchange service provided by many banks is supplied by a third party, which stopped providing the currency after Qatar’s neighbours cut diplomatic ties prompting wide fluctuations in the value of its currency. Travelex, which had also suspended trading in riyals in some markets, has now resumed purchasing the Qatar riyal globally
  • Barclays has selected Dublin to become its post-Brexit European hub. The bank has agreed terms to rent bigger premises in the Irish capital and is expected to add an extra 100 to 150 employees to the around 120 staff it already has in Ireland
  • CYBG chief executive, David Duffy, has told the Mail on Sunday that both millennials and older customers want digital convenience and personal interaction. The article likens the group’s experimental branch and technology centre in Kensington, called Studio B, to an Apple store.
  • NatWest is trialling the use of artificial intelligence technology from Recordsure to monitor and analyse the context of sales conversations recorded between customers and staff. The AI technology can read, comprehend, and flag risk factors in recorded interactions. Recordsure claims the technology can increase efficiencies in banks’ compliance monitoring processes leading to a 50% reduction in compliance costs
  • Banco Santander has appointed Intuit’s chief digital and innovation officer, Lindsey Argalas. Lindsey Argalas will report to the bank’s chairwoman Ana Botín and will be responsible for developing its digital strategy, supporting innovation throughout the group and encouraging collaboration across its businesses and markets
  • Bankable has agreed a strategic partnership with Starling Bank to provide it with real-time Faster Payments. Bankable will integrate its ‘Banking as a Service’ platform with Starling’s API set