The FCA is considering intervening in unarranged overdrafts in the UK after it found that bank charges are “potentially harmful” to consumers.

Half of consumers are unaware of these fees, which doesn't bode well. 

As traditional avenues of revenue (like overdrafts) are squeezed, along with stricter capital requirements, it is imperative that banks find new, innovative and sustainable ways to grow drive income. 


One way is data. 

The financial services industry collects more data on its customers than most other industries. But, so far, organisations have struggled to extract the full value from that data. If they can, the opportunities will be huge.