Are we living in a FinTech bubble 🗯

[Peter_G]

@Austen

Business, money, community, heart, bank. These words should never be used in one sentence or even a post. Monzo, or as a matter of fact, Revolut, Starling or most of all, HSBC customers, should not be steered by emotions while conducting their financial dealings.

You missed the key phrase “in my opinion”

But more seriously, the key word for me is “culture”. I want businesses I deal with to be empathetic, approachable, and to have values that align with mine.

That’s not to say that the product doesn’t need to be good, and that cost/price/value doesn’t need to be competitive - they do. But for me, I’d be willing to offset some of these things against a good cultural fit.

[jdon.xyz (Jason)]

This whole forum is just full of people that need to be right

Sorry, I’ll shush now

[Demmedelusive (Graham)]

I don’t think I’m at risk of going off-topic with a thread title like this, so I’ll risk asking “What values matter to you in choosing a bank?”

[anon44204028]

for me it is the nationality of the bank, and how they treat their lower level staff (i.e. difference in pay between top boss and customer service guys), and style and depth of interaction with customers.

[nickbw (Nick)]

The answer is yes, Britain is living in a bubble but that’s what a lot of Brits have done for a long time and they feel comfortable with it. Like most developed economies Britain has great potential especially in the field of intellectual property but its educational system and universities are largely stuck in an outmoded ineffective rut. Britain lacks innovation and the average Brit does not appreciate or revere it. Indeed the creation of wealth and employment is not respected or valued. Perhaps it’s a hang-over from an age when old money was superior to new money ie trade. Whatever, Britain is too preoccupied with how to slice up the cake to worry about “is the cake big enough to start with”. Like Japan we work too many hours and our productivity is too low. Unlike Japan we are not so well off as we think we are. In rough terms 50% of Japan’s GNP arrises from consumer spending, although this is fairly restrained and has been for years, because its people are cautious. They are a cohesive people whose intelligence and humanity is often overlooked in the West. Their education standard, universities and science and engineering are amongst the best in the world, as is their medicine and meterology. So no surprise their banks work fine and their smartphone tech is in step. I wish the FinTech industry well but I still think it lacks any profoundly innovative ideas.