Tom
@tgraham
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Banking MD @ Accenture UK, and Accenture's Fintech Innovation Labs London Programme Director.
Joined April 2007
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Is the logic chaining, purported ease, going to be the differentiator here vs the EU Open Banking based PFMs? I love the complaint use case; I’ve often thought there’s a data gap to systematically reverse engineer utility’s pricing models for consumers to haggle better deals.
I decided to outsource my entire personal financial life to GPT-4 (via the @donotpay chat we are building). I gave AutoGPT access to my bank, financial statements, credit report, and email. Here’s how it’s going so far (+$217.85) and the strange ways it’s saving money. (1/n):
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I love this - Return On Hassle (ROH). It is such a key driver of consumer behaviour and one which institutions do not consider enough. Performance - price - hassle = value? Thank you for articulating.
After advising hundreds of multi-millionaires, there's one thing they all have in common... They don't only think in terms of Return on Investment, but also consider RETURN ON HASSLE. Here's what that is, and how you can apply it to your wealth building strategy 🧵👇
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2022 FinTech Innovation Lab London launch day 🚀 Orientation Week has begun! To kick things off our new cohort of 14 new #FinTechs will be getting to know our client partners and mentors. Here’s to a great 12 weeks! #Accenture #FIL2022 #FinTechForGood #Innovation
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Side note: if you are a legacy credit card issuer with your cards in PayPal or ApplePay wallets right now you are playing with fire and just asking to be disintermediated in credit provision.
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This is such an interesting chart. Music publishers pass through ~75% of revenues to songwriters, while record labels pass through ~15% of revenues to recording artists
Spotify launched in the US 10 years ago this month. Here's my best take at how economics flow from a $9.99 monthly subscription. Three takeaways: 1) Spotify only keeps ~33%, 2) Artists and songwriters don't get much, 3) Music is really, really complicated.
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It's #GlobalMNDAwarenessDay - a day to raise awareness of motor neurone disease around the world. • 6 people will be diagnosed today • 6 people will die today • It has NO cure Please retweet our graphic highlighting the key facts. More people need to know 🧡 thank you! #MND
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Second, data from Springboard show that footfall at retail locations was 71% of its level two years ago in the week ending May 22. It has been edging down since the week shops reopened, confounding hopes of a further pick-up after the service sector reopening on May 17 (2/3)
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Shopify initially loaned $2000 Banks: “But loans are not going to be make us real money at that level.” The customer: “We found Shopify Capital to be so valuable that we’ve returned for 10 rounds of funding.” Last Shopify Capital round raised was $1m😗 https://t.co/x8fjtugbgE
techcrunch.com
Shopify is widely known for giving independent merchants a platform to start, run, market and manage their businesses. But over the past five years, the
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This graph from @alekswis in the @FT is remarkable. US data - that seeks to compare relative wealth between generations (Mils, Gen X, Boomers, etc). Great article on prospects for youth and the 'social contract' with older generations. https://t.co/kFnvEnv04B
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.@PrivateEyeNews has an incredible leak around the level of fraud on BBLs - a sample suggested 1/3 are ‘dodgy’ - that’d be c £15bn. @CityPolice letter implies no plans to do much about it either. Remember - public money not bank losses here.
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Side: There was a great @Demos report ( https://t.co/No1IWibPmA) about remote work + levelling up. If you are a UK regionally head-quartered bank, does remote work now open up a much bigger talent pool? What's the contra impact on major FS hubs (e.g. London?).
ft.com
Demos think-tank finds majority against returning full time to office, creating potential route to local regeneration
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Might I propose the new work from home index: the roll out of city lunch providers (pret, zest, etc) to suburbia tracker!
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Yes yes - collaboration/loneliness, up-skilling the next generation, manage cash & support vulnerable service users, etc. These are still BIG problems to solve and serious ones. But the facts on the ground don't tally to noisy headlines around mass return to the office:
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Most of the retail banks are landing in a similar space on this, and my sense is property lease lengths are the main kicker for not moving quicker. What's the new market for flexible working space going to be (viva WeWork?). Is there much left that is truly proprietary to branch?
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Santander announces 550 branch closures ( https://t.co/YJuxAYav45) & flex working for 5k head office staff. Is it telling that public resistance to branch closures is not what it was (or are their voices not heard?). Similar news at Nationwide with 4.5k folk work from anywhere.
cityam.com
Santander bank will close 11 branches across the UK, affecting 840 jobs. The bank will also offer 5,000 office staff to keep working remotely
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Two years on, apparently not: "[the investigation] did not produce evidence of unlawful discrimination against applicants" https://t.co/EERjTrGBc9; credit scoring is opaque but explainable, and additional card holders / spouses on the same card hold a different financial profile.
dfs.ny.gov
Apple's 'sexist' credit card investigated by US regulator
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Absolutely maps to our data and findings. 9% of all investors have been investors for less than 12 months. ..Rising crypto, seemingly invincible tech stocks & a clean energy green bubble... We all need to think harder about how to engage. (Engage, not lecture!)
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