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Banking & Savings

Welcome to Banking and Savings - for insightful guidance on maximizing your financial potential. This dedicated space offers in-depth knowledge on various banking products, savings strategies, and the latest in financial technology innovations.

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Whether you're seeking the best savings accounts, exploring high-interest options, or looking for secure and efficient banking solutions, our resources aim to equip you with the tools and knowledge for effective money management and achieving your saving goals.
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Is WhatsApp Facilitating Banking Fraud?

23rd March 2018
Sharing confidential information is a data protection issue with more and more red tape every day. With more and more apps differentiating encryption methods, this becomes even harder to manage for authorities. Below Finance Monthly hears about the potential for banking fraud via apps such as WhatsApp from Neil Swift, Partner, and Nicholas Querée, Associate, […]
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Does Open Banking Need to Be Personalised to Work?

16th March 2018
One in two UK consumers would be happy to share transaction data with third parties if offered a more personalised service, whilst one in three would be happy to use banking services from technology companies, because of the personalisation they offer. UK Banks that missed last month’s Open Banking deadline are facing up to the […]
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Here’s an Example of How Open Banking is Already Turning Heads

13th March 2018
Attempts have been underway in Parliament recently to help tenants improve their creditworthiness. This includes new legislation to make lenders give rental payments the same weight as mortgage premiums, including most recently Big Issue founder Lord Bird’s draft Creditworthiness Assessment Bill. Open Banking - ahead of any future legislation - offers tenants the potential to […]
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India’s Biggest Ever Banking Scandal: Billionaire Jeweller Accused of ‘Gaming the System’

28th February 2018
In the past week, India’s news have been dominated by billionaire jeweller, Nirav Modi (no relation to the Indian Prime Minister), who has been accused of defrauding India’s second largest government-owned bank of $1.8 billion or the biggest banking fraud the country has ever witnessed. Mr. Modi, who calls himself “haute diamantaire”, has been the […]
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Is Open Banking Really Safe?

9th February 2018
In force since January, the Second Payment Services Directive (PSD2), aka Open banking, is a regulation that forces the largest of our banks to open up access to their data; a necessity that could change the way many people and businesses bank. Below Jerry Matthews, Commercial Manager & Head of Bridging at KIS Finance, explains […]
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How Did the Banking & Financial Sector End 2017?

25th January 2018
The UK’s Banking and Financial sector has ended the year on a positive note, with the growth of new companies up 18.56% to 5,775 and failures down by 37.89% to 59 compared to Q3, according to figures released in the quarterly Creditsafe Watchdog Report. The report tracks economic developments across the Banking and Financial sector […]
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Meltdown & Spectre: 2 Ways Your Banking Device Is Vulnerable

24th January 2018
You may have seen the headlines just a few weeks back: Intel computer processors at risk form hackers. The computer technology firm owned up to some serious flaws in their systems and began to implement patches. Below Rusty Carter, VP of Product at Arxan Technologies, explains the ordeal and touches on the detail of the […]
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Your Thoughts: PSD2 & Open Banking

23rd January 2018
As of this month, the revised second Payment Services Directive (PSD2) is in force and set to cause significant disruption within the European payments & banking sector. The first and foremost disruption is the possibility of Open Banking, as the legislation now allows a level playing field for PSPs to operate. From data and cyberattacks […]
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What Are the 3 Principles of Open Banking?

16th January 2018
There are three core principles for Open Banking. This video explores those three principles and talks about the risks and opportunities involved. The 3 key principles of Open Banking are: 1. Real time sharing of data, including statements and transactional data 2. Real time initiation pf payments, that allows other organisations to initiate payments for […]
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PSD2 & Open Banking: Hope of a Better Future in Financial Services?

15th January 2018
Below Felicia Meyerowitz Singh, Co-founder & CEO at Akoni Hub, talks Finance Monthly through the implementation of PSD2 legislation this weekend, with an overview of open banking, what it means for financial services, and what opportunities are in store for banking customers. It’s been a long time coming but we are entering an era of […]
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Websites & Internet Security in Banking: Is Your Money Safe?

11th January 2018
The security of banks’ and other financial institutions’ websites has been in the spotlight recently, notably in the case of NatWest bank which was involved in a public discussion regarding its site. Below Jacob Ghanty, Head of Financial Regulation at Kemp Little LLP, discusses the legal implications of website security, along with the potential consequences […]
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More Than Half of Consumers Moving Away from Traditional Banking

9th January 2018
Digital banking is growing in popularity with 53% of consumers using or willing to move to an online or mobile only bank — 27% have moved already, while 26% are considering the switch. This is according to research commissioned by Relay42. The reasons for this shift included receiving a better online experience and functionality (58%), […]
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Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.

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