Mike Fotis

Wonga’s been dealt a knockout blow. So what now?

After an eerily quiet year, payday loans are back in the headlines. The speedy demise of Wonga has sent shockwaves through the industry, and rumours of which firms may be next are spreading like wildfire. So what brought the great bogeyman of the payday loans industry, which at one point boasted a fifty per cent

UK savers beware. Misleading advertisements are coming for you

Scams are nothing new. From the Nigerian Prince who needs our help transferring money to the glut of fake goods sold as genuine articles, scams are here to stay. But forget the cheap Louis Vuitton knock-offs – the new battleground is UK savers. UK savers are perfect targets. They have money readily available (at times

New complaints data is a missed opportunity and will not help consumers

Yesterday the UK financial regulator released complaints data for the second half of 2016. While this happens every six months, yesterday was meant to be different. This data was meant to arm consumers with information to make more informed decisions, and ultimately empower people to make the financial world better. Sadly, it turned out to be

Challenger banks are failing to deliver better banking

Just over a year ago I believed that new challenger banks were on the edge of glory, about to kick off an era of better and fairer banking for everybody. In an article for ResPublica I wrote: ‘When real colour is injected into the financial services industry, consumers will be better served and ultimately empowered

Being boring has shielded the insurance industry for far too long

The insurance industry is the boring uncle of the financial services family – a little drab and likely to be found in a basement listening to Daniel O’Donnell on a Saturday night. By contrast, banking conjures up colourful images of Wolf of Wall Street excess, which has helped to fuel a healthy dose of scrutiny. Being