Skip to content
Instinctif Partners

Our Weekly Newsletter

    Share
Our Weekly Newsletter

Across Instinctif Partners’ Financial Services team, we are always keeping an eye on the key developments taking place across the sector to evaluate their impact on the many businesses we work with. Here we share our picks of the week’s most interesting news, and our expert views.

news-you-can-use-divider

Plans to cap fees charged by claims companies 

Consumers who use claims management companies (CMCs) will collectively save £10m a year under plans to cap fees, according to the Financial Conduct Authority. These companies, who represent people who believe they have been mis-sold financial products, have been accused of profiteering, with some charging customers more than 40% of eventual payouts. The city regulator wants to limit charges to 30% or less. (From BBC, 21 January 2021).

JP Morgan to launch digital bank in UK 

JP Morgan is launching a new digital bank in the UK, operating under its consumer brand, Chase. The bank will be headquartered in Canary Wharf, and the bank has already hired 400 staff. It is the second major US lender to enter the UK retail banking market, with Goldman Sachs offering Marcus-branded digital savings accounts in 2018. JP Morgan said it plans to offer a “new take” on current accounts and that its new contact centre in Edinburgh will be a key selling point, offering a fast and personalised service. (From The Guardian, 27 January 2021)

FCA considers raising contactless limit to £100 

Regulators are considering increasing the threshold which consumers can make purchases through contactless payments to £100. The plans have been prompted by increased use of contactless payment methods during the pandemic as consumers seek ways to reduce physical contact to minimise the risk of contracting coronavirus. Merchants have highlights that raising the threshold could result in them losing revenue as a result of an increase in the value of incomplete contactless payments at checkouts. (From BBC News, 27 January 2021)

US markets resemble dotcom boom 

The sharp rise in equity prices has inflated a key measure of Wall Street exuberance back to levels seen just before the dotcom bubble. Shares in 79 companies listed on US stock exchanges have more than doubled in the past three months. This figure was just 13 between 2011 and the start of the sell-off in March 2020 brought by the onset of the pandemic. The elevated levels of companies’ share prices points to further evidence of divergences on the scale of impact the economic disruption caused by Covid has had on SMEs and larger firms. (From FT, 25 January 2021)

Remote banking tools and personalised service help Monzo top customer satisfaction table  

Monzo topped the Financial Conduct Authority’s league table for online and mobile services and was also named the best for the quality of its overall service after customers were asked how likely they were to recommend the bank to friends and family. Changing consumer preference to place greater value on personalised customer service and being able to manage finances remotely has helped Monzo gain customers from traditional high street banks that are reliant on legacy technology. (From The Times, 24 January 2021).

Where are you visiting from?

Select from the regional list below.

Submit

    Apply now

    Submit your application directly to our careers team using this form. We look forward to hearing from you!

    Fields marked with a * are required to submit the form.

    Name *
    * Upload your CV and any other supporting documentsSupported file types: doc, docx, pdf, rtf, txt. (MAX size: 6MB)

      Sign up to hear from us

      We send a range of frequent newsletters on several topics below. Submit your details here to receive some or any of these communications.

      Fields marked with a * are required to submit the form.

      Name *
      Which area are you interested in hearing about? *

      If you have a general enquiry, please contact us here.

        Get in touch

        How can we help? Contact us using the form below, or via the following:

        Email: tellmemore@instinctif.com

        Phone: +44 207 457 2020

        Fields marked with a * are required to submit the form.

        Name *