Signicat, a pioneer in trusted digital identity, today revealed that on average it takes consumers just 14 minutes and 20 seconds to abandon financial services applications. The findings, taken from Signicat’s Battle to On-board III report, show that financial institutions - including banks, insurers and credit card issuers - are losing more than half of their potential customers (55%) if applications take longer than this to complete. 

Avaloq, the global fintech leader, has hired two senior individuals for its London office to help cater for strong demand in the UK for the firm’s Software as a Service (SaaS), Business Process as a Service (BPaaS) and on-premise solutions for UK private banks and wealth managers. Karen Line joins as Sales Manager while Ross Williams joins as a Senior Key Account Manager. Both report to the UK Sales Director, Barry Frame.

An exclusive survey on the state of cross-border purchases in Brazil has revealed that smartphones have been instrumental in democratizing access to global products and services: mobile phones were the preferred device for 62% of respondents when making international purchases last year.

Identitii Limited , the FinTech reducing last mile payment hold ups for banks and corporates, announces it has been selected by the Australian Competition and Consumer Commission (ACCC) as one of just ten companies to test the Consumer Data Right (CDR) ecosystem. The CDR ecosystem will enable Australia’s incoming open banking regime which goes live from February 2020.

Let’s talk about representative APRs. Those enticing little percentages that influence a consumer’s decision to apply for one loan product over another. Far too often excitement turns to disappointment when they get down to the fine print and discover that the headline percentage was too good to be true, usually after going through the extensive application process. According to the Financial Conduct Authority^*, 51% of people will be accepted at the representative rate or better. That leaves the other half in a take-a-higher-rate-or-leave-it situation.