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Fire – a new digital account experience.

February 5, 2017

We all know how the world is changing. It’s all around us. The payments and banking industry are no exception to the forces of change and in many respects change in this industry is long overdue.

At Fire, we believe in change and we have been working hard to develop a new digital account that we hope will help in the transformation of banking services. The issues and problems that businesses and people have with transacting and making account payments are well documented. They can be summed up as expensive, non-transparent, slow and impossible to integrate into other applications.

For many years, organisations have tried to address these issues and progress has been slow. Sometimes it’s so hard to change the legacy that you are better off starting from scratch. That’s what we decided to do.

Building a Vision

To enter the account market is an ambitious step. Most businesses and people already have accounts, so we would need to be different – different in so many ways. We gave consideration to the business and personal markets and we looked at both the product that we felt was needed and also how customers access the product. We also worked on the impact or emotion that we felt was appropriate to build with the brand and the proposition.

It has taken some time for us to reach this day – several years of trying and getting it wrong, as we finally arrived to the point when we felt our product now has the features and experience to match our new name – fire.com. We are committed to a big mission and to delivering a vision. This needed a simple and global name – fire.com was our first choice and one of our first assets that we acquired.

We also decided to secure a licence, join several payment systems and to become a principal member of MasterCard ®.

We are delighted to launch this today.

What’s a digital account?

Fire accounts are opened online and provide customers with access to a range of payment and data services, along with a carefully crafted interface that is designed to create a compelling customer experience.

  • A Fire business account is suitable for all (UK and ROI registered) businesses and supports sterling and euro bank transfers, a MasterCard debit card and an API that enables integration from customer’s systems to the data in their Fire account.
  • The personal account also supports sterling and euro bank transfers, a MasterCard debit card with real time notifications, social payments and requests to contacts and other apps.

We hope that these new features will give our customers a new digital account experience that brings real benefit in a safe, less expensive and more engaged fashion. Please be sure to share your feedback.

Colm Lyon

February 2017

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