When it comes to the security of our money and the intentions of banks, Chris Gledhill, CEO of Secco Bank pulls no punches. According to the brains behind one of the UK’s largest online banks, high-street names in banking have ‘lost their way’. In fact, Gledhill takes that criticism one step further by branding mainstream banks as “broken”, “greedy” and simply too profit-driven to function to the benefit of their customers.
With the establishment of Secco came the latest in a host of challengers hoping to transform the highly-unpopular world of banking in the UK. As a former lead mobile architect and a leader in Lloyd’s Banking Groups innovation labs, Chris Gledhill conceptualised an entirely digitised model. The success behind Secco lies in its efficiency: the online bank allows its customers to send and receive payments immediately via an instant messaging service.
However, this is a temporary arrangement for the innovators behind Secco. Gledhill aims to do away with banking apps and branches all together, hoping that its users can exchange currency via ‘payloads’ as opposed to traditional payments. At the heart of this messaging system will be a location-based financial social network, named Aura, described by Secco as ‘a reverse cloud’.
Chris Gledhill’s role in the fintech industry has propelled him to lofty heights: as well as blogging on the issue, this young entrepreneur regularly travels the world to speak at FinTech events and collaborate on FinTech initiatives.