FairBanking consultants
Antony Elliott FCIB spent over 10 years as Group Risk Director of Abbey National plc having worked for a number of UK and international banks previously. He had overall responsibility for the control of consumer credit risk throughout this period.
After he left in 2003, he researched and produced a report on why people get into too much debt. Entitled, ‘Not waving but drowning: over-indebtedness by misjudgement’, it was published by the Centre for the Study of Financial Innovation in 2005 and was widely discussed at the time. This report led to the development of a new banking product, Capacity Card, which has many money management features.
He has founded the charity, FairBanking, which has commissioned research into the link between a person’s money management and their level of contentment or well-being. The research has been developed to consider the implications for banking products and services.
He received a BSc in Banking and International Finance from City University and an MSc in Operational Research from Imperial College, London.
George Guernsey a bank executive and advisor for more than 30 years, he headed group strategy and financial administration at First Chicago Corporation and operations improvement at Republic New York Corporation.
Based in London for 16 years, he led business consulting for Tillinghast/Towers Perrin in Europe and then co-founded an insurance investment bank. He founded and now chairs Insight Mapping, a market intelligence service for financial institutions and their corporate customers.
From 2005, his long association with Antony Elliott has focused on opportunities to design new consumer money management solutions which improve both profit for banks and financial well being for customers.
He received a B.A. in Economics and Political Science from Yale University and an MBA in finance with distinction from the Wharton School, University of Pennsylvania.
John Osborne has over 20 years experience in providing innovative IT solutions to financial institutions. From Sun Microsystems UK (Insurance Industry Manager) in 1990, he became managing Director of Fusion Systems, where, through the real-time trading requirements of his clients he became an evangelist for sophisticated information visualisation.
He founded Parable technologies, which specialised in combining real-time data feeds and data warehousing into web based virtual reality environments.
He created the prototype of the Capacity Card user interface, and is passionate about enabling people to make informed decisions in the area of personal finance.
He created the demonstration products used in the current Fair Banking research.
Charles Adriaenssens has spent 17 years in the insight industry, working across the fields of market intelligence, market research, data analytics, marketing and consulting. For 15 of these years, Charles has specialised in the retail financial services marketplace, during which time he has worked with most of the major UK banks and building societies.
While working at the market research agency GfK, Charles worked with Antony on the report ‘Not waving but drowning: over-indebtedness by misjudgement’. This report used as its foundation data from the Financial Research Survey, for which Charles was the study director.
When Antony founded FairBanking he approached iris Concise, where Charles is currently a Director, to be the charity’s research partner. Charles directed both the qualitative and quantitative phases of the research, which provided input to the recently published report ‘The Road to redemption for UK banks’. He also directed the statistical analysis that was used to identify the drivers of financial well being, and wrote the technical appendix of the report, which summarises this analysis.
He received a BSc in Mathematics / Applied Statistics from Oxford Brookes University.
Ivo Vlaev is a Senior Research Fellow at Imperial College London (with a joint appointment at Imperial College Business School and the Faculty of Medicine). Before coming to Imperial, he worked as a researcher at University College London, Decision Technology Ltd and the University of Warwick (2003-2004). He has a track record of research in cognitive psychology, behavioural economics and behavioural finance, which is published in peer-reviewed academic journals.
His research interests are focused on studying human judgment and decision-making in various domains (social, financial, medical), by exploring various methods from experimental psychology, economics (game theory), and neuroscience. Specific research topics are risk attitudes, behaviour change, consumer psychology, behavioural finance, cooperation,
reinforcement learning and well-being.
Ivo's previous consulting work related to consumers' risk perception funded by the Institute of Actuaries, London. He has also worked on consulting projects on consumer price perception, consumer trust, and brand memory funded by large retailers.
He received a DPhil (PhD) in Experimental Psychology from the University of Oxford (and St. John's College) and MSc in Cognitive Science and BSc in Psychology from the New Bulgarian University.
Liz Clarke has over 20 years experience providing innovative consumer credit risk business solutions. She has worked across the credit cycle from pre-sanctioning to collections and recoveries and with all major consumer products.
Most recently she has worked as a senior business consultant helping some major UK Retail Financial organisations get the maximum business insight and benefit from their pricing optimisation solutions. Previously as Director of Advanced Data Analytics at Barclays Bank, Liz was responsible for providing a centre of scoring and predictive modelling expertise. She focused on leading the design, development, implementation and exploitation of advanced database decision making tools, particularly with a view to managing the unique and complex customer relationships that exist within a major banking institution. The customer management system implemented made an additional £75m p.a. These systems are still in use 10 years on.
She has worked alongside Antony on Fair Banking projects since 2004.
She graduated from Warwick University with a Bsc in Mathematics, Operational Research, Statistics and Economics.
Martin Campbell has more than 25 years experience of retail financial services in the UK spanning all elements of marketing from consumer research, through to product design, marketing communications, PR, Government lobbying and wider business strategy.
He was a product development manager at Norwich Union (now Aviva) for many years before being invited by Richard Branson to become a founder member of Virgin Direct (now Virgin Money). At Virgin Direct Martin researched and designed each of the initial products including the index tracking PEP, Virgin Pension, ISAs and the ‘One Account’.
Martin also led Virgin Money’s press office and the company’s highly successful Government lobbying activity before leaving in 2001 to set up his own consultancy called ‘BeaconStrategic’. Since then Martin’s clients have included a number of notable brands large and small, including Google, The Pensions Policy Institute, Interactive Investor, Zopa, Virgin Money, Lucida and Kublax.
Martin has worked closely with Antony Elliott at FairBanking from the outset, in particular playing a key part in the launch of the first paper ‘The road to redemption for UK banks’.
He is deputy chairman of the TISA Retirement Advisory Council and External Affairs Director for the newly formed Centre for Retirement Reform think-tank.