General Fintech & Banking Articles Megathread

Pretty sure I saw someone here mention that everyone is getting in on the BNPL action and it seems they are right.

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Kudos to Atom for this:

Edit: should’ve read more before posting fml. It’s technically a 34 hour week over 4 days, which is fewer hours than most people do over 5 I imagine, but it does say they’ll be working more hours per day than on 5, so sounds more like a compressed thing than a true four day week.

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It’s an extra hour a day, in theory, so not the end of the world. I’d happily take that approach to get an extra day off.

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That really makes a lot of sense, it makes you wonder why more companies haven’t tried it before.

You would presumably barely notice the extra hour on days you work, but then would really appreciate a whole “extra day” per week off.

Since it adds up to a fairly similar number of total weekly working hours (OK, slightly less, but not by much) the work can still get done.

Atom seem to have really struck upon a great idea with this.

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I did compressed days 10 years ago on a contract role as I was living away from home and it meant an extra day with my wife every two weeks. An extra hour Mon-Thu on week one, Mon-Wed on week 2 and the Friday off. Did that for 8 months after working standard weeks for the first four months.

Only an hour extra on the long days, but it certainly was noticeable - and I was 10 years younger than I am now.

Edit: I’m not saying that it’s a bad thing. Just that there are pros and cons. With home working (or hybrid working) it could work quite well. There are pros and cons - depends how prescriptive they are about when people do the hours, amongst other things.

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I very much doubt my current place would entertain this, though the majority of staff would probably love it.

Unfortunately, this only works for salaried staff, and I think I would be right in saying that the majority of people employed (at least in the UK) are probably paid hourly.

To cut the hours of hourly paid workers without reducing pay probably wouldn’t be financially viable.

Presumably it would if the new work arrangement resulted in better efficiency which could, therefore, mean the same amount of work output produced in less time.

There would be no reason not to be happy for workers to do fewer hours and get paid the same, as an employer, if they produced the same output?

After all, the output is what you are actually after.

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Great in theory, but there are some areas where that would be impossible.

True, anything customer-service related where the work is basically manning a desk would never work, for example.

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WFH had given me so much extra time, it has been a game changer.

We also have flexihours so we can start and hour earlier and finish an hour earlier if we want.

So with this and no commute I have around 4 or 5 extra hours each day and I get so much stuff done that I’d normally have to do at the weekend on my days off.

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I’d love to compress my hours but with 12 hour shifts standard it would kill me :joy:

Once a year I do a 13 hour shift and I feel that extra hour.

Broadly though, I think offering this where possible can only be good. So long as output is the same, which can be monitored by the company, I think giving people the option could be a positive change.

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Well I think the output was better which is what encouraged it.

LBG wouldn’t even consider this as they’re so old school.

Would Monzo :heart_eyes::sweat_smile:

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Not a surprise that that Seedrs was courting after its abortive merger with Crowdcube…

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“New ‘purpose-built’ $1bn UK clearing bank launches in London”

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“Retailers declare war on Visa and Mastercard over transaction fees”

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