Chris Bates
speaker
1,659 appearances
5 recordings
1 series
first heard Jun 2021
last heard Dec 2022
Chris Bates’s voice in public audio — every appearance, attributed to the second.
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Appearances
That's what we're hoping because banks can assess your applications easier because they know more about you, which means that the turnaround times will be faster, et cetera.
So there's lots of positive things, I think, out of open banking, but that's my worry.
that it kind of just lays it all out and it's just it's bare like the bank will know who you are before you even got to them is that kind of where you see it going i hope so just because i think that you know the bank's process at the moment is definitely stuck a long time ago and that's on purpose um the reality is technology is out there the bank could be creating a much smoother process but the big banks in particular own the market say 80 alone so through one of them or their government have
you know, different banks that they own.
They don't really want people switching banks and all the big four banks are extremely worried that they're going to lose their market share.
So what they try to do is make it difficult for people to sort of swap banks, hence why they weren't a fan of open banking.
This has just been quite frank.
Am I a fan of neobanks?
Absolutely.
Is there going to be, really they're just different colors.
You know, they open up accounts fast.
That's the key differentiator and hence why a lot of them are failing.
You know, the Zinjas of the world and there's been multiple, even 86400, which was probably the best innovative sort of bank for mortgages.
They had this product where you just didn't have to require payslips.
You didn't have to require all these things because they could get it off your bank account.
They've just sold out to one of the big four.
And so even if these digital banks do successful, ultimately I think the big four will buy them.
I would personally just start a conversation if you're thinking about or you're planning to.
I actually really like that chat.
Like I know I'm not ready to buy today, but I'm a great long-term customer and I want to work with you because you've been referred to me by my friend or whatever it is, right?
Showing 1461–1480 of 1,659 · page 74 of 83
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