Creative credit cards

Here in the UK, we’ve had credit cards since the 60s, though the term was thought to be first coined as far back as 1887 by the novellist Edward Bellamy. So perhaps this fresh look at their design is overdue.

Portrait bank cards are a thing now
Consider the ways you use your bank card on an everyday basis, whether handing it over to a cashier, swiping it to make contactless payments, or inserting it into an ATM. How are you holding the card as you do all those things? Vertically, I’m willing to bet, or in portrait orientation, to borrow a term. And yet, the vast majority of credit and debit cards are designed in landscape, sticking to a thoroughly outdated usage model. This is the senseless design inertia that the UK’s Starling Bank is rowing against with its newly unveiled portrait card design, which was spotted by Brand New.

There’s more info on the reasons behind the change on the bank’s website.

Introducing our new card
Design usually evolves to solve something or to meet new needs, and bank cards don’t look the way they do by accident. They were designed landscape because of the way old card machines worked, and they’re embossed with raised numbers so they could be printed onto a sales voucher.

But we don’t use those machines anymore, so when you think about it, a landscape card is just a solution to a ‘problem’ that no longer exists. At Starling, we think it’s important that we can justify every decision we make – and we just couldn’t find a reason good enough to carry on using a design based on antiquated needs.

That first article from The Verge identifies a number of other banks and companies that have gone vertical. I’ve had a portrait Co-op membership card in my wallet for ages now, since their rebrand.

creative-credit-cards-2

Speaking of credit cards, here’s an interesting article about how companies across the globe are turning to AI to help assess credit ratings in what they claim to be a fairer and more transparent way. That’s the idea, anyway…

Algorithms are making the same mistakes assessing credit scores that humans did a century ago

It used to be that credit card companies would just be sneakily looking at transaction data to infer worthiness:

In the US, every transaction processed by Visa or MasterCard is coded by a “merchant category“—5122 for drugs, for example; 7277 for debt, marriage, or personal counseling; 7995 for betting and wagers; or 7273 for dating and escort services. Some companies curtailed their customers’ credit if charges appeared for counseling, because depression and marital strife were signs of potential job loss or expensive litigation.

Now the data trawl is much wider:

ZestFinance’s patent describes the use of payments data, social behavior, browsing behaviors, and details of users’ social networks as well as “any social graph informational for any or all members of the borrower’s network.” Similarly, Branch’s privacy policy mentions such factors as personal data, text message logs, social media data, financial data, and handset details including make, model, and browser type.

In these situations it becomes hard to tell what data, or combinations of data, are important — and even harder to do anything about it if these automated decisions go against us.

More money for schools from the Co-op

The Co-op, what I still think of as that little corner shop on the high street, has announced a multi-million pound plan to expand its Co-op Academies Trust programme, and wants to treble the number of schools it sponsors.

Co-op to turbo charge academy schools plan
The Co-op is already the UK’s largest corporate sponsor of Academies, having opened three in the last year to take its current total to 12. Under the existing strategy, the Co-op takes over predominantly weak schools in economically challenged communities in the North, putting in place ambitious turnaround plans.

This announcement has made its rounds across the news websites, including The Sun.

Co-op plans to take over 28 more failing schools after turning around 12 academies
The group, best known for its stores and funeral services, took on its first academy in Manchester in 2010.

This one, from the Yorkshire Post newspaper, adds it on to an article about its announcement of a nationwide scheme to stock local products in its stores.

Co-op announces plans to support local producers
“W​e want these businesses to thrive in our communities and so we don’t seek exclusivity for instance – our ambition is for our stores to be at the heart of local life, connecting communities together and offering great quality products when and where our members and customers need them​,” he added.​

[…]

The ​Co-op ​said its a​cademies have enjoyed huge success, with a strategy designed to empower teachers and young people to work together for a better education and a better community, in line with the Co-op’s own values.

Tes.com emphasises the geographical aspect of the news.

Co-op ‘turbo-charging’ academies sponsorship in bid to boost the North
The announcement comes after a report by Children’s Commissioner Anne Longfield last month highlighted that children from poorer homes in northern England face an education gap that starts before school and widens over time.

The Northern Powerhouse Partnership has also called on businesses in the North to do more to help close the skills gap with the South.

The Telegraph’s account is from a more financial viewpoint.

Co-op returns to profit as it bounces back from bank woes
The Co-operative Group’s boss shrugged off the chaos afflicting Britain’s high streets as the mutual announced it had returned to the black after selling its stake in the troubled Co-operative Bank.

The company, which runs food shops and funeral parlours as well as offering insurance and legal services, made a pre-tax profit of £72m in the year to Jan 6, up from a £132m loss the year before.

[…]

The Co-op also announced plans to sponsor 28 academy schools in the next three years in addition to the 12 it already has. It hopes to hire 250-300 workers from the schools by 2022, but Mr Murrells said the move was based on its aim to “do good in society” rather than for business reasons.

This must be all too much for the Independent. Yes, the Co-op’s doing well at the moment, but it won’t last.

Co-op: Roaring back and in the black but is it just a bit too busy?
That sort of thing is what might make long term watchers of this institution shudder. Just a bit. It has uncomfortable echoes of what the business used to do in the bad old days when it was cursed with executives who, as eventually became clear, were much better at politicking and unveiling grandiose plans with great fanfare than they were at business.