META Finance discuss whether Personalised Services are delivered at a cost to personal Privacy
27 June marked the launch of our Privacy vs Personalisation breakfast series, with the first session focusing on the Wealth Management space. We were joined by friends from across the sector to over breakfast explore how the world of personal data can be used to help deliver better outcomes to people without violating their rights to and sense of privacy.
Special thanks go to our guest speakers Julian Saunders and Sam Seaton, who provided some great insights from their own experience of engaging consumers in a way that they trust and also what’s needed to build a trusted enterprise platform for industry in this space.
Some of our main take-ways are listed below.
We’re hoping that the attendees will continue to use the META Finance community to raise ideas, meet new people and challenge us on how we accelerate the work being done by big business in this space and that others will join us in this quest over time. You can sign-up for updates by following this link
What were we trying to achieve?
- Our mission at META Finance is to bring people together to discuss how to use data to deliver better consumer outcomes within Financial Services. We believe all firms, big and small, have a role to play here and our breakfasts act as a convening tool to progress the conversation
- We aim to bring thought leaders together with representatives from established firms and start-ups, together with the META Finance Associates, to debate what we can better
Who presented?
- Ben Leonard, Founder of META opened the discussion by opened by describing a past in which we have created products, marketed and sold them to customers, before collecting data about them during the ‘onboarding’ process. He contrasted that with a world in which customers control their own data, and businesses shape products and services around them. This, he said, challenges organisations to view the recently introduced General Data Protection Regulation (GDPR) not as a regulatory burden, but as a commercial opportunity.
- Vaughan Jenkins, also of META Finance, then discussed the tension between privacy and personalisation and how this has been driven by technology from its inception. After citing a number of examples, he concluded by asking whether GDPR would be enough to get customers to understand the risks and benefits of sharing their personal data, or whether the temptation of “free stuff” would always remain too great.
- Julian Saunders, CEO of Port.IM, talked us through his experience concluding that the best way to create meaningful, data-rich relationships with customers is by providing them with a proposition that they value. He contrasted this with businesses who simply pay customers £5 for their personal data.
- Sam Seaton, CEO of MoneyHub, talked us through how different customers responded very differently to different ‘nudges’ with which MoneyHub’s AI engine presents them on a scale from ‘brilliantly helpful’ to ‘creepy’.
What did we discuss?
- Businesses still ‘protect’ customer data as ‘their asset’ instead of recognising that it belongs to the customer, and becomes more valuable when shared in a trust-based relationship.
- Legacy incumbents face numerous challenges:
- Legacy systems are not up to the job and expensive and difficult to change.
- Legacy incumbents spend most, if not all of their change budgets trying to keep pace with the regulatory change, leaving little if any capacity to invest in finding ways to innovate by using data more effectively and to develop new propositions.
- They don’t have enough sources of rich data to feed machine learning algorithms in any meaningful way.
- Even early adopters like Google and Facebook struggle to get the information they really need – only the customer knows when they’ve bought that product they’ve been researching!
- Increasingly, the winners are those who develop their products and services as open and connected players, instead of as closed environments. Think of Slack, who has almost completely supplanted Basecamp as the collaboration platform of choice, by enabling customers to connect Slack to just about anything else they are already using.
Some of the ideas to take forward?
- We need to get the debate around data and privacy out of the IT and compliance departments and into the boardroom.
- We need to reposition the discussion away from the cost of regulatory compliance with GDPR and the financial and reputational risks of getting it wrong towards the commercial opportunities for building more data-rich, trusting and value-adding relationships with customers.
What next?
META Finance will continue to host its breakfast discussions and build a community around this topic. We will also be looking to develop more concrete ways in which businesses can engage.
How can you help?
Please
- sign up for updates here
- share your insights and experiences with us through our Contact Us Page
- help us help you…what could META Finance be doing to support your firms?
Hello there! Would you mind if I share your blog with my twitter group?
There’s a lot of people that I think would really appreciate your content.Please let me know.
Thanks!
Really interesting information, I am sure this post has
touched all internet users, its really really pleasant piece of writijng oon building up new website.
Really interesting information, I am sure this post has touched all internet
users, its really really pleasant piece of wruting oon building
up new website.
I enjoy what you guys are usually up too. This type of clever work and
reporting! Keep up the very good works guys I’ve added you guys to my own video.
Hello There. I found your blog using google.
This is an extremely well written article.I’ll make sure to bookmark it and return to read more of your useful information. Thanks for the post.
I’ll certainly return.
Hello There. I found your blog using google. This is an extremely well written article.
I’ll make sure to bookmark it and return to read more of your useful information. Thanks for the post.
I’ll certainly return.
Ohh, its fastidious discussion about this article here at this
web site, I have read all that, so now mme also commenting at this place.
I havve found vewry iinteresting your article.It’s pretty wolrth enough for me.
In my view, if all website owners and bloggers made gpod content as you
did, the web will be a lot more useful than ever before.
Woww cuz this is great work! Congrats and keep it up!
Great delivery. Great arguments. Keep up
the amazing spirit.
I need to to thwnk you for this fantastic read!!
I definitely enjoyed every bit oof it.I have got you book-marked to look aat
new things yoou post…
Really interesting information, I am suree this post has touched all internet users, itts really really pleasant piece of writing on building up new website.
Thank you for this very good posts.I was wanting to know whether you were planning
of publishing similar posts to this. Keep up writing superb content articles!
Very good info. Lucky me I discovered your blog by accident.I have book-marked it
for later!
Hello to every one, siunce I am genuinely keen of reading this website’s post to be updatted regularly.
It carries nice data.
I simply want to input that youu have ? good websitee ?nd
I ejoy the design and also artcles ?n it!
Way cool! Some very valid points! I appreciate you penning this post and the rest of the website is
also really good.
You need to take part in a contest for one of thee most useful
websites online. I will recommend this site!
Veryy good info. Lucky me I discovered your blog by accident.
I have book-marked it for later!
Hello there! Would you mind if I share your blog with my twitter
group? There’s a lot of people tht I think would really appreciate your content.Please let
me know. Thanks!
What’s up, after reading thhis awesome post i
am as well delighted to share my experience here with friends.
What’s up, after reading this awesome post i am as well delighted
to share my experience here with friends.
Very good info. Lucky me I discovered your blog by accident.
I have book-marked it forr later!
You need to take part in a conntest for one of thee mosst
useful websites online. I will recommend this site!
Hello! I wish to say that this post is awesome, great written and come with
approximately all important infos. I’d likke to look
exztra posts like this! 🙂
Pretty! This has been an extremely wonderful post.Thank you ffor supplying this
info.
Hello everyone, it’s my first visiit at this website, and piece of writing is genuinely fruitful designed
for me, keep up posting such articles or reviews.
Well composed articless like yours renews myy faith in today’s writers.You’ve written information I can finally agree on and also use.Many thanks
for sharing.
Hi there to every body, it’s my first pay a quicfk visit of this
website; this blog contains awesome and genuinely excellent data for visitors.
Nice blog here! Allso your web site a lot up veryy fast!I desire my sitee loaded up as quickly aas yours…
It’s not my first time to goo too see this web page, i am visiting this web site very often and take good facts from here.
Hello There. I found your blog using google. This is an extremely well wriitten article.
I’ll make sure to bookmark it and return to read more of your useful information. Thanks for the post.
I’ll certainly return.
I have found very intertesting your article.It’s pretty worth enough for
me. In my view, if all website owners and bloggers made good content as you did, the web will be a lot more useful than ever before.
Your mode of describing alll in this piece off writing is
in fact pleasant, all be capable of simply be aware of it,
Thanks a lot.
Pretty! Thhis has been an extremely wonderful post.Thank you for supplying this info.
Hi there to every body, it’s mmy first goo to see of this
webpage; this webpage contains amazing and really excellent dzta in suport of readers.
Wow cuz this is great work! Congrats and keep it up!
Thank you for this very good posts. I was wanting to know whether youu were planning of publishing similar posts to this.
Keep up writing superb contentt articles!
Greqt delivery. Great arguments. Keep upp the amazing spirit.
Pretty! This has been an extremely wonderful post.
Thanks for providing this info.
It’s nott my first time too goo to see this web page, i am visiting this web site very often and take
good facts fom here.
It is not my first time to go to see tuis website, i am visiting this wweb
page dailly and take good information from here all the time.
Hello all, here every prrson is sharing such know-how,so
it’s pleasant to rewd this website, and I used to go to see this website daily.
Excellent post. I wass checking continuously this blog and I am impressed!
Extremely usefl information. I care for such information a lot.
I wass looking for this certain information for a very long time.Thank you and
good luck.
Hello! Do you use Twitter? I’d like to follow you if that would be okay.
I’m definitely enjoyihg your blog and look forward too neww articles.
I enjoy what you guys are usually up too. This type of
clever work and reporting! Keeep up the very good works guys I’ve added you guys to my own video.
Do you have a spam problem on this blog; I also
am a blogger, and I was wanting to know your situation; many of us have created some nice practices and we
are looking to trade strategies with other folks, why not shoot me an email
if interested.
Oh my goodness! Incredible article dude! Thank you so much,
However I am experiencing problems with your RSS.
I don’t know why I can’t join it. Is there anybody else getting the same RSS problems?
Anyone who knows the solution can you kindly respond?
Thanx!!
Saya tidak bisa menahan diri dari berkomentar.
Baik ditulis!
Here is my web site Joker123 bonus deposit 100
Hey, I think your site might be having browser compatibility issues.
When I look at your blog site in Safari, it looks fine but when opening in Internet Explorer, it has some overlapping.
I just wanted to give you a quick heads up! Other then that, great
blog!
I’ll immediately snatch your rss feed as I can’t find
your email subscription link or e-newsletter
service. Do you’ve any? Please let me recognize so that I may subscribe.
Thanks.
instant cash loans no credit check
get loan online
instant cash online
accredited debt relief
direct lender payday advance
loan no credit check
payday loans no faxing
payment installment agreement
credit loan application
bad credit lenders
loan nguyen
a loan with bad credit
micro loans
discount cialis online
ivermectin 1%cream
ez loans
super saver pharmacy
auto loan with bad credit
pay day cash advance
viegra
viagra online purchase
online payday loan companies
cialis fast shipping
cash advance form
loans houston tx
loan payoff
payday loans no credit check
guaranteed loan
augmentin 1g price
buy tretinoin online
canadian pharmacy cialis 20mg
sildenafil tablets 100mg price
no verification loans
direct payday lenders
cialis soft tabs 40mg
buy cialis in usa online
loan shops
quineprox 80 mg
payday loan places
best debt consolidation loans approved by bbb
express payday
viagra 25 mg daily
can you buy viagra in australia over the counter
can i buy viagra over the counter in mexico
bad credit auto loans
payday loans in bc
usa loans
herb viagra side effects for sildenafil buy sildenafil
direct payday lenders bad credit
sildenafil uk otc
cialis without a prescription does medicare cover cialis cialis for women
viagra generic fda approved viagra erection before and after generic viagra without a doctor prescription
payday loan no credit check
does cialis make you bigger 5mg cialis side effects for cialis
cialis for daily use buy tadalafil online cialis drug interactions
which is better cialis or viagra cialis 5 mg daily buy tadalafil
top payday loans
It’s really a nice and helpful piece of info. I’m satisfied that you just shared this useful info with us.
Please keep us informed like this. Thank you for sharing.
coupons for viagra teva pharmaceuticals generic viagra viagra demonstration girl
viagra generics price viagra 200mg dose effect cialis side effects cialis vs viagra
no credit check payday loans
cheap generic viagra online pharmacy what is herbal viagra sildenafil 20 mg tablet normal ed dosage
does medicare cover viagra healthy man viagra lowest price for viagra 100mg
cialis reviews by men cialis from india cialis free coupons
who makes cialis does cialis make you last longer viagra versus cialis
online cialis india
sildenafil citrate 100mg tab buy sildenafil canadian pharcharmy online viagra
how long does viagra last after you take it fuck him while on viagra sildenafil cost
cost of generic viagra viagra for sale on craigslist sildenafil citrate generic
viagra tablets in india online
cialis in action canadian cialis without a doctor prescription buy cialis generic tadalafil
generic viagra price at walmart viagra online womens viagra
viagra coupons for cvs viagra penis before and after low cost viagra
sophia viagra nude free viagra coupons generic viagra pills
free viagra pills is viagra safe to take canada viagra online pharmacy
order cialis online cialis picture testimonials cialis savings card
how to get xenical prescription
how much viagra should i take tadalafil vs sildenafil viagra 100 mg price
viagra substitute over counter sex with viagra is there generic viagra
amoxicillin 875 mg for sinus infection amoxicillin dosage for children amoxicillin dosage for sinus infection
cipro hc otic
fish mox forte 500mg amoxicillin amoxicillin interactions amoxicillin dosing
zithromax uses azithromycin how does it work buy z-pack zithromax antibiotic
housing loans
loans with monthly payments
celebrex over the counter celecoxib 200 mg celecoxib capsules 200mg price
what is celebrex celebrex and alcohol walmart generic celebrex 200mg
what is celecoxib 200 mg used for side effects of celebrex in the elderly celebrex recall
celebrex uses can i take celebrex with ibuprofen what is celecoxib used for
duloxetine dosage cymbalta commercial cymbalta
best time to take cymbalta duloxetine 30 mg capsule duloxetine brand name
australia viagra prescription
zoloft without script canada