Legacy Bank updates - FinTech and Innovation at High Street Banks

[SC95]

High Street/Legacy Banks are sometimes not discussed as much as other Challenger Banks here. So I thought we should have this thread for discussions around their progress into the new world of FinTech, App Development and see if they are upping their game.

Today I received an email from Barclays that they are going to use Open Banking rules for their customers to see accounts from other Banks.

Barclays have been updating their App regularly this year. It’s not as fluid and well laid-out like Monzo but has some nice features. Like Card control/security, you can see upcoming payments and you can pay cheques in-app among other things.

Santander annoyingly has several Apps but they seem to at least trying to give their customers a better way to see where they are spending.

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This thread is intended to be for a genuine discussion not for ridiculing

[Rat_au_van (Em)]

The Banks are very limited that you can link to Barclays

But the app has really improved this year. Doesn’t have pots or categories but you can add tags to statements. They have a good search feature now as well (funnily enough I can’t seem to search for overdraft charges which seems deliberate)

[SC95]

@Rat_au_van

(funnily enough I can’t seem to search for overdraft charges which seems deliberate)

I don’t have overdraft so didn’t know that - Emma (the App) is great for showing charges I think. I have Barclays Blue rewards account and Emma picked up all the £3/month charges

I also find it useful that I can call CS from within Barclays App and don’t have to answer any security questions. They also have Text and Video chat.

[thom_horne (Thomas Horne)]

@SC95

I also find it useful that I can call CS from within Barclays App and don’t have to answer any security questions.

I love this small feature; I call up and am immediately greeted by name and a thanks for securely calling via the app.

I’ve never tried the video call thing, not sure why I would but it’s nice to know it’s there.

[nickh]

Fun fact from Lloyds…

I wasn’t set up for telephone banking, having not used the account in years - I decided to do a CASS switch to HSBC (for the sweet sweet bribe).

You can’t change your telephone number online with Lloyds (certainly not if you are already in your account).

No worries - It asks you to call up.

Yeah… It asks you to call, so they can tell you to go into branch. Amazing.

[daedal]

I use Barclays as my main account the fact I can see the balances from other accounts in it to me is great. I’ve had to contact Barclays twice in the last few weeks via app chat, very quick and efficient no need for security questions. They also follow up with texts after some changes so you know they have done what they have said. The AI that is being trialled is good for quick answers without the need to search through menu items

[garete (Gareth)]

@Rat_au_van

Doesn’t have pots

Closest thing is the e-savings account? , if you look on the web portal should be easy enough to find

@SC95

They also have Text and Video chat.

The text chat is awful imo, since it is per session and will close if your screen turns off.

[rhyshort (Rhys Short)]

Odd, Lloyds lets me change my phone number from the app.

[nickh]

I think you need to be registered for telephone banking (I wasn’t).

My account hadn’t been used in years, which is part of the problem.

[SC95]

Barclays to challenge Goldman in digital-only bank market - FT

Barclays to Take on Goldman in U.S. Retail Assault, FT Says

https://www.bloomberg.com/news/articles/2018-10-14/barclays-plans-u-s-retail-account-following-goldman-ft-says/

[Monza]

Barclays App has started showing some logos today.

[Rat_au_van (Em)]

Oh so they have. Very few have a logo though, tv license only has a T in a circle

[SC95]

My TV licence ones are like this

Seems like they are starting with high street retailers mostly none of the online transection have logo.

[Rat_au_van (Em)]

I’ve got Asda, O2 and Poundland. None for Boots and since they’re a blue rewards partner I’d have thought they’d have them done

[SC95]

Your app is ahead of mine then maybe because I am on Android

O2 is just an O Asda has a logo for me. I did a search no Poundland in the past few years on my Barclays because most of my day to day has been through Monzo.

[Rat_au_van (Em)]

There you go, so you don’t feel left out

[SC95]

Thanks. I think Monzo is doing a better job on this so never felt left out.

Edit: Forgot to give credit to @RachelR for this. She has polished Monzo app with her constant merchant data updates.

[Rat_au_van (Em)]

They’re too small. Poundland one made me wonder if I needed an eye test

[thom_horne (Thomas Horne)]

Nothing here so far. Although then again I STILL don’t have the option to chat via in app messaging, pay in cheques or this yet?

[Rat_au_van (Em)]

I don’t have the cheque or in app chat options either. No idea how they roll this stuff out