321. News: Everything takes money

This week we have some excellent stories for you as David and Simon are joined by a few fantastic guests:

• Rebecca Duckworth, Chief Sales Officer at Quotevine Limited
• Louis Sutton, Co-Founder & Director at The Grapevine and host of I, Fintech
• Valentina Kristensen, Director of Growth and Comms at OakNorth
• Ryan Edwards-Pritchard, Managing Director at Funding Options

We kick off the episode with Valentina making a big announcement regarding OakNorth entering the mortgage market. As mortgage processes can be considered overlooked and underserved, the discussion goes to whether or not this product could drive incumbents to change existing mortgage processes. OakNorth are hoping that by offering a bespoke customer-centric product, it will become a major player in the sector (03:16).

Next up, we talk about Lloyds’ disappointing Q1 results and the fierce competition in the mortgage market. The panel ask where growth is going to come from and how the market is going to change with new challenger banks coming up. Being the "least worst" of the big banks is no longer what is at stake, with new challenger banks delivering new efficient processes (14:36).

Also, our recurring guest Ryan Edwards-Pritchard at Funding Options has a big announcement to make!
More information about the announcement can be found here:
https://www.altfi.com/article/5335_funding-options-and-experian-bid-for-slice-of-rbs-775m-bank-competition-fund

Other stories include:

• RBS Getting Back Into Payments Ten Years After It Unloaded Worldpay
• Singapore may allow virtual banking licences after Hong Kong
• ATMs are vanishing
• SF bans cashless shops
• The Art of Losing $1BN

All this and so much more on today's show.

Don't forget to subscribe so you never miss an episode, leave a review on iTunes and let us know your thoughts on the stories @FintechInsiders on Twitter where you can also ask the hosts questions, or email [email protected]

This week's episode was produced by Laura Watkins, written by Dhanum Nursigadoo and edited by Alex Woodhouse.

Special Guests: Louis Sutton, Rebecca Duckworth, Ryan Edwards-Pritchard, and Valentina Kristensen.

Links:

• OakNorth enters retail mortgage market
• Lloyds Banking Group: Q1 results analysis | City A.M.
• RBS Gets Back Payments Ten Years After Worldpay | PYMNTS.com
• Singapore May Allow Virtual Banks After Hong Kong, DBS Says
• Free cash machines vanishing at alarming rate, says Which? - BBC News
• San Francisco To Bar Cashless-Only Stores | PYMNTS.com
• Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses - The New York Times