Summary
The twenty-sixth Meeting of Minds Bank and Brand Distribution of Retail Financial Services took place on 3 October 2019 at The Berkeley Hotel in Knightsbridge, London. This document summarises key issues raised in the topics discussed during the roundtables that took place on the day.
A Meeting of Minds Bank and Brand Distribution of Retail Financial Services is a strategic forum organised by Owen James. It is an opportunity for 80 senior level decision makers from the largest high street banks, building societies, affinity groups, product and service providers and industry experts to meet in a neutral environment where they can examine industry issues and opportunities and develop business strategies to address them.
Participants enjoy access to strategic insight, active involvement in shaping the industry and networking at the highest level.
At the core of these Meetings is a series of boardroom style sessions addressing a pre-researched and pre-agreed agenda, with open discussion led by objective and professional moderators. External speakers spark debate and encourage fresh and original thinking.
To find out more about taking part, please contact John Hall at Owen James: johnhall@owenjamesgroup.com or you can contact at 01483 861334.
This Report
The Roundtable Sessions were moderated by:
- Brod Whiting – JoyndUp Ltd
- Lucile Knight – Clarasys
- Colette Dunn – Milliman UK
- Ed Hamilton – Clarasys
- Stephen Wall – The Wealth Mosaic
- Sarah Collinson – AllClear Insurance Services
- Katie Horne – Aston Fisher
- Anna-Lisa Wesley – Sapphire & Steel
We are very grateful for the time and energy they have expended on making A Meeting of Minds Bank and Brand Distribution of Retail Financial Services a success and hope you will consider this report an interesting, thought-provoking and accessible read. As ever your feedback is much appreciated.
We would also like to thank the independent experts who were part of the sessions for sharing their knowledge and giving us their time and energy both in the run up and on the day
The Sponsors
We would like to thank all our sponsors, without whom the event would not have been possible. The following groups took part in the Meeting and their motivation for taking part is threefold:
- To be, and to be seen as being supportive of the industry
- To understand the stresses and strains being placed on the industry and, where possible, respond to them
- To talk openly with these business leaders with a view to ensuring that their businesses are strategically aligned
The Findings
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Bank on the apathetic customer or be ready for action should their circumstances change
“Banks still have this mentality that you give gold to them and they keep it and give you a slight premium.”
A Meeting of Minds Bank and Brand Distribution of Retail Financial Services - 3 October 2019
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Big tech is most likely coming to a town near you…..but maybe we should be looking eastwards rather than westwards?
Tech companies are realising that it is money that makes the world go around and are seeking to get a piece of the action. Amazon, Facebook and Apple are all trying to get into money.
A Meeting of Minds Bank and Brand Distribution of Retail Financial Services - 3 October 2019
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Can you build a framework to assess your company culture?
A Meeting of Minds Bank and Brand Distribution of Retail Financial Services - 3 October 2019
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Customer focused versus customer centric – knowing the difference between the two can give you a serious competitive advantage
Customer focused is what you know the customer wants (data led) whereas customer centric is providing the customer with something they want, even before they know it themselves e.g. Apple iPad
A Meeting of Minds Bank and Brand Distribution of Retail Financial Services - 3 October 2019
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Environmental, social and governance (ESG) is now viewed as table stakes within certain investment quarters
ESG is seen as core to the way today's responsible businesses operate. What is responsible investing, and do we continue or start?
A Meeting of Minds Bank and Brand Distribution of Retail Financial Services - 3 October 2019