UK-based digital banking app LHV Bank has appointed former NatWest executive Damian Thompson as its chief executive officer and executive director.
UK-based digital banking app LHV Bank has appointed former NatWest executive Damian Thompson as its chief executive officer and executive director.
In context
- Topic: Banca y Fintech — Banca digital, pagos, open banking y regulación financiera.
- Source: Finextra
- Published: 13/10/2026
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Why it matters
Financial services has one characteristic that makes it unlike every other sector: it can fail on experience and survive, but it cannot fail on trust. That is why moves that look slow from the outside are usually prudent from the inside.
I read these stories with two questions on top: what happens to cost per transaction and what happens to risk. If cost drops but risk rises without anybody measuring it, the saving is borrowed and gets repaid with interest on the day of the first incident.
What usually goes wrong
The mistake that repeats is testing only the happy path. It gets validated that the transaction works, not that the reversal works, that duplicates are caught, that a power cut mid-operation leaves everything consistent. Those cases are ninety per cent of the real work and ten per cent of the testing.
What to watch
- What the local regulator requires and by when, because the deadline is usually the real constraint.
- How money is returned when something fails, and how fast the customer sees it.
- Which part of the customer relationship ends up with a third party and whether that is reversible.
How I read this entry
If this came into an institution, I would look at reconciliation first. Everything new in payments looks fine until the day has to balance, and that is when the cases nobody modelled appear: reversals, duplicates, half-completed transactions. That boring work decides whether the product is sustainable.
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Living through this in your own team?
Open the chat and tell me how you're handling it. I'm interested in comparing notes.
