Yes you did read a positive headline about RBS and no- it was not written tongue in cheek
On Friday last, AgeWage received 62,000 contribution files from RBS’ pension administrator which will allow us to test the algorithm we are developing to deliver value for money.
We also – in a quite separate development – found out AgeWage has been admitted into the RBS Fintech accelerator.
\So thank you RBS – this is great news and so far as we can , we at AgeWage will big you up for helping us get started on our great enterprise.
So what are we doing with all this data?
Well .first of all, the data is anonymised and in terms of GDPR – disarmed, the warheads have been taken off.
We have the opportunity to see how scores are dispersed accross a population of members and we will be able to deliver the Trustee back information we hope will make its work on value for money , a little easier.
We see this as a valuable experiment – which if it adds value – proves the concept. But it does not make for a minimum viable product, (MVP). For AgeWage scores to be viable – they need to be virtuous, we have to see the scores being put to good use and great both commercial and social value – be both viable and virtuous.
So what is a Fintech accelerator?
I have yet to find out – I look forward to finding out and reporting on progress. But I suspect this is not old skool – RBS; the bank is moving on and it’s accelerating a shift to proper gender diversity – in the right places -including on the board.
My old college friend Ali Davis on the RBS board – she’s a high-powered business angel who lives just outside of San Francisco. She knows more about Fintech than I will ever.
And if the news reported by Sky this weekend, turns out to be true. RBS will become the first of our big banks to have a female CEO. I very much hope that Alison Rose gets that job.
Alison Davis (left), Alison Rose (right)
I have had many arguments with her about what a thieving bunch RBS are and that is now going to stop. A line has been drawn beneath all the chicanery and we’re going into this accelerator thingy with eyes wide open and a positive mental attitude.
RBS thanks very much
I know that many readers are waiting for the sting in the tail. Well – there isn’t one. This is a 100% pro RBS blog in which I state my aim of working with the bank, not kicking it in the nuts.
And if you feel disappointed, then don’t be. You too can get your pension data analysed and get AgeWage scores, just mail email@example.com and we’ll send you a letter of authority or a bulk data transfer template – depending on whether you are doing it for yourself or your organisation.
firstname.lastname@example.org – do it now!