So lock-down comes to an end. It’s good news and hope that the Prime Ministers announcement on Sunday will be the start of a slow but cautious and safe journey to reopen business and society. In the main the British public have shown they are made of sterner stuff than we supposed and with a good wind the future looks good.
What will you learn from this lock-down period? I’ve learnt that there is no reason why I need to be in an office in London. I can work from home, use social media and when necessary go to meetings; which is a lot rarer than than I thought.
I’ve also discovered that a healthy life/work-style balance is necessary and we need to prioritize the two together. Work doesn’t have to be an endless round of meetings it can be based upon deliverables and deadlines. So, I expect a move towards more productive working practices that focuses less on ‘messages’ and more on activities. People love targets, if they’re achievable and enjoyable. Let’s have some fun. I know of one of our members that thinking of allowing staff the opportunity to work for one day a week as a volunteer for the social sector. Still paid, still employed but utilizing skills for the benefit of all.
Stay Safe, stay secure, obey the rules!
Other Payment News
The PSR issued this post today: We are aware of the impact that COVID-19 is having on cash use and are working with the other members of the Joint Authorities Cash Strategy (JACS) group, along with authorities and industry, to support cash access for consumers that need it now.
Read more about our work supporting cash access during the COVID-19 pandemic here – https://bit.ly/3aOLZxF
As I have said before it doesn’t matter if you are pro or con cash there are still segments of society that rely on it and need to be protected and safeguarded if the industry moves away. The fact that the PSR have put this high on their agenda is a good thing.
In the same vein, Both MasterCard and Visa are reporting increases in the use of cashless transactions and the ATM community is still reporting strong usage although volumes are dipping. But, how much of that is due to he fact that so many people are in lock-down and have no need for cash at the moment. I’m a big user of cash, but I haven’t withdrawn any for the past 6 weeks relying mostly on on-line shopping.
Chris Skinner is always a good read and today is no exception. His latest piece covers:
Build, Buy or Transform the Bank?
The Financial Services Club Blog
I was recently watching an online poll that asked the best way for a traditional bank to compete with the new digital banks. Should they build a new bank, buy a digital bank competitor, or transform the old bank? The vote was split fairly equally between all three choices after …
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