Name: Obsessed with personalisation: What can financial services learn from other sectors?
Uploaded: 2024-03-11T16:29:25.868Z
Duration: 183.84
Description: Samantha Seaton, CEO of Moneyhub, brings us the latest trends in financial services. How is technology enabling more customers? Which businesses can financial services look to for great examples of personalisation? Watch this interview and find out.

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Samantha Seaton.vtt

English

{{00:00:03}}
David Penn: Hi, I'm David Penn,
research analyst with Finovate.

{{00:00:05}}
Joining me is Samantha Seaton.

{{00:00:07}}
She is CEO of Moneyhub.

{{00:00:09}}
Great to have you with us today.

{{00:00:10}}
Samantha Seaton: Yeah,
it's good to be here.

{{00:00:11}}
David Penn: Let's jump right into it.

{{00:00:12}}
What shifts are you seeing in the
world of finance right now that

{{00:00:14}}
are particularly attractive to you?

{{00:00:16}}
Samantha Seaton: I think what
we're seeing is people wanting to

{{00:00:18}}
service more than the 1 % club.

{{00:00:20}}
So people wanting to take what
they do for 1% to the mass market.

{{00:00:23}}
And of course, technology
allows them to do that.

{{00:00:26}}
David Penn: Absolutely.

{{00:00:26}}
Absolutely.

{{00:00:27}}
What is it you think that companies
need to do to really take advantage of

{{00:00:30}}
the fact that this is the trend that I
know inclusiveness inclusivity is one

{{00:00:34}}
of the ways that people refer to it.

{{00:00:35}}
But in terms of growing that pie, what
are some of the things that companies

{{00:00:37}}
need to be doing according to that?

{{00:00:40}}
Samantha Seaton: I think you've got to
be obsessed about personalization, so I

{{00:00:43}}
think none of these like people like me
and all that persona, I think it's all

{{00:00:46}}
got to be moved aside and it's got to
be actually genuinely personalization.

{{00:00:49}}
So that and an obsession, I would say,
with financial wellness for the customer.

{{00:00:54}}
David Penn: Interesting.

{{00:00:55}}
Interesting.

{{00:00:55}}
One of the other things that's
a major trend that's going on

{{00:00:57}}
in financial services, as I'm
sure you're aware of, is AI.

{{00:01:00}}
There's been a lot of presentations
here, AI, generative AI and so forth.

{{00:01:03}}
How are you seeing that kind of
impact on financial services?

{{00:01:06}}
Samantha Seaton: Look, I don't
think we can underestimate the

{{00:01:07}}
impact AI the large language models.

{{00:01:10}}
Cracking that like we've seen
in the last on a staggering

{{00:01:13}}
genuinely, so we can't ignore it.

{{00:01:16}}
My word of caution is that I would
like to see the equal obsession that

{{00:01:20}}
we have with AI on the data because
for us, the augmentation of those

{{00:01:24}}
models are going to be, they're
only going to be as good as the data

{{00:01:28}}
that we're putting underneath them.

{{00:01:29}}
And I really feel that data is being left
a little bit out in the cold and yet.

{{00:01:33}}
To be honest, that is going to drive
how good we can use the AI models.

{{00:01:36}}
David Penn: Yeah, the lifeblood
of the models in a sense as well.

{{00:01:40}}
What would you say are some of the
businesses within or outside of financial

{{00:01:43}}
service perhaps that you think are
really doing some exciting things either

{{00:01:46}}
with AI or with some of the things you
talked about in terms of personalization

{{00:01:48}}
or better using of that data?

{{00:01:51}}
Samantha Seaton: I think there's probably
three companies that spring to mind from

{{00:01:53}}
my perspective where I really see them out
focused on data and personalization, and

{{00:01:59}}
also that holistic view of the customer.

{{00:02:01}}
And actually, we're seeing that like
from two pension providers in the UK,

{{00:02:05}}
Mercer and Standard Life, which I think
is, yeah, Slightly unusual to see that's

{{00:02:09}}
where it's come from, but then on top of
that closely followed by Vodafone Voxy

{{00:02:13}}
with their 16 to 30 year olds, their
members wanting to give them access to

{{00:02:18}}
a more holistic view of their finances.

{{00:02:20}}
When we did you see that
coming from Vodafone?

{{00:02:22}}
David Penn: Wow, that
is an interesting group.

{{00:02:23}}
I wouldn't have picked any of
those off the top of my head.

{{00:02:25}}
Yeah.

{{00:02:26}}
Interesting.

{{00:02:26}}
Speaking of businesses, I thought maybe
we could close a little bit with talking

{{00:02:29}}
about your business with Moneyhub.

{{00:02:31}}
What are some of the things that Moneyhub
is doing this year that we can maybe

{{00:02:33}}
look forward to hearing more about?

{{00:02:35}}
Samantha Seaton: I think the most
exciting thing we've done at Moneyhub

{{00:02:36}}
recently, post our fundraise, was
to develop four lines of business.

{{00:02:41}}
We used to have our just our
pensions and our white label.

{{00:02:43}}
We now have a dedicated API business,
which we love, and then we also have our

{{00:02:47}}
payments and our decisioning business.

{{00:02:49}}
And so growing those and
taking them to market.

{{00:02:51}}
It's very exciting for Moneyhub.

{{00:02:53}}
David Penn: Fantastic.

{{00:02:53}}
It's very exciting to hear about.

{{00:02:54}}
We're looking forward to hearing
more about Moneyhub then in 2024.

{{00:02:56}}
Samantha Seaton: Yeah, lots more.

{{00:02:57}}
David Penn: Thank you for joining us then.

{{00:02:58}}
Thanks.

{{00:02:59}}
And thank you as well.

David Penn: Hi, I'm David Penn,
research analyst with Finovate.

Samantha Seaton: Yeah,
it's good to be here.

What shifts are you seeing in the
world of finance right now that

Samantha Seaton: I think what
we're seeing is people wanting to

So people wanting to take what
they do for 1% to the mass market.

And of course, technology
allows them to do that.

What is it you think that companies
need to do to really take advantage of

the fact that this is the trend that I
know inclusiveness inclusivity is one

But in terms of growing that pie, what
are some of the things that companies

Samantha Seaton: I think you've got to
be obsessed about personalization, so I

think none of these like people like me
and all that persona, I think it's all

got to be moved aside and it's got to
be actually genuinely personalization.

So that and an obsession, I would say,
with financial wellness for the customer.

One of the other things that's
a major trend that's going on

in financial services, as I'm
sure you're aware of, is AI.

There's been a lot of presentations
here, AI, generative AI and so forth.

How are you seeing that kind of
impact on financial services?

Samantha Seaton: Look, I don't
think we can underestimate the

Cracking that like we've seen
in the last on a staggering

My word of caution is that I would
like to see the equal obsession that

we have with AI on the data because
for us, the augmentation of those

models are going to be, they're
only going to be as good as the data

And I really feel that data is being left
a little bit out in the cold and yet.

To be honest, that is going to drive
how good we can use the AI models.

David Penn: Yeah, the lifeblood
of the models in a sense as well.

What would you say are some of the
businesses within or outside of financial

service perhaps that you think are
really doing some exciting things either

with AI or with some of the things you
talked about in terms of personalization

Samantha Seaton: I think there's probably
three companies that spring to mind from

my perspective where I really see them out
focused on data and personalization, and

And actually, we're seeing that like
from two pension providers in the UK,

Mercer and Standard Life, which I think
is, yeah, Slightly unusual to see that's

where it's come from, but then on top of
that closely followed by Vodafone Voxy

with their 16 to 30 year olds, their
members wanting to give them access to

When we did you see that
coming from Vodafone?

David Penn: Wow, that
is an interesting group.

I wouldn't have picked any of
those off the top of my head.

Speaking of businesses, I thought maybe
we could close a little bit with talking

What are some of the things that Moneyhub
is doing this year that we can maybe

Samantha Seaton: I think the most
exciting thing we've done at Moneyhub

recently, post our fundraise, was
to develop four lines of business.

We used to have our just our
pensions and our white label.

We now have a dedicated API business,
which we love, and then we also have our

And so growing those and
taking them to market.

We're looking forward to hearing
more about Moneyhub then in 2024.

David Penn: Thank you for joining us then.

FinovateEurope

Trend

Samantha Seaton, CEO of Moneyhub, brings us the latest trends in financial services. How is technology enabling more customers? Which businesses can financial services look to for great examples of personalisation? Watch this interview and find out.