They have 1000 staff?!
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My first thought too. I don’t claim to know the business well but that seems like a load of bloat which often happens with ‘unicorns’. Probably starting to scale back to the level needs to be.
Heh, I forgot they existed. I integrated with them on a few web builds until I found out Stripe is actually cheaper for direct debits anyway.
Probably. I forget they still exist to be honest, I can’t actually remember the last time I knowing used a service powered by them. It’s nearly all Apple Pay direct these days
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An Anglican church leader has accused the Yorkshire Building Society of bullying after it announced that it was closing his account within 14 days when he protested against it allegedly pushing transgender “ideology”
It probably comes down to him not being anywhere near as polite as he is saying he was.
Well deserved then. The issue they will face is proving the bank did it for those reasons and not for any other of their policies.
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In fintech connected news, it looks like the wirecard scam/ceo was intelligence related.
Jan… and was later revealed as an informant for Russian and Austrian intelligence services.
The level of security, and data protection requirements for a shared banking space and office would be unreal.
The spaces occupied by banks at present would become vacant and likely left that way for a very long time.
High street rents are extortionate, and to fill those gaps would be a chore in itself, unless it becomes some kind of affordable living which is unlikely.
My home city, the old banks got turned into rental apartments and they look really nice, but it’s far from a like for like compared to a huge city.
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Suspect the new entrants won’t have the same obligation
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It’s beyond my understanding, but even from what I do understand, it gives a head ache thinking about it.
While all running in the same lane, leaving just one document around from bank A for bank B to stumble across, can imagine it gets very messy and tit for tat.
Probably better in similar design as a food court layout, not all functioning from the same desk space.
Disaster waiting to happen without very strict behaviours in place. Mistakes could happen so easily.
Unless I envision it totally different to what it will be. I just see a Post office style ground floor space, Mondays is Lloyds Group, Tuesdays NatWest, Wednesdays HSBC etc.
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This is how is always envisioned it, totally separate back offices just a shared physical location.
The main problem I see with that is having existing branch buildings being big enough to completely compartmentalise each bank. If the building was the size of an actual food court it’d work, but inside existing branches I’m not sure.
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Yeah, I walked past the banking hub in Carnoustie a few weeks ago. Open Monday to Friday, with a different bank’s representatives each day.
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You know those Security trainings we were supposed to watch? Sooooo much shit could go wrong - re. documents being left laying around, staff of other banks hearing things in earshot about customers etc etc
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These places already exist, and operate fine, though?
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Exactly. They’ve clearly found a way for them to work. Don’t know why people struggle so much to understand how banks could share a space.
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Had no idea they did exist, I’ve never seen one anywhere near me to be able to tell or even seen one advertised or photos of one, but if they do then great 
You can see descriptions here…
Overthinking about the regulatory aspect in my head 
This.
If you’d have read, you’d probably see why I’d struggle to understand.
Then finally this.
In my head I see betty at desk 1 discussing their life’s financial plans with Bank A, and then a meter away got Bob who’s explaining how financially vulnerable he is to bank B.
From a privacy point of view. I don’t get it.
If the hub is totally basic, money in, money out, call the number on your card for anything else, that’s fine, but as banks run today in their own form, it’s difficult to mentally see it.
https://www.cashaccess.co.uk/hubs/
This clears the air for me. Nothing complex involved.
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