CIMB Bank Berhad Singapore Branch (“CIMB”) and iTrust have successfully completed their first structured trade financing transaction on iTrust’s Blockchain and Internet of Things (IoT) platform. The transaction involves the financing of dairy products imported into China and is expected to generate transaction flows of up to US$100m a year. iTrust provides secured real-time visibility […]
Fintechs could save migrant workers a combined £520m when moving money from the UK to emerging economies, according to new analysis by UK fintech Paysend. Each year, migrant workers in the UK send £8bn back home. While the average global transaction fee is currently 7% of the money transferred, the fintech average is already well […]
Lytham St Annes based energy and utility management specialists British Independent Utilities (BiU) will continue to increase its share of the corporate energy sector with a new tranche of funding from Santander Corporate & Commercial. The funding will enable the team to continue its investment in new service lines and technology, whilst optimising its business […]
A new research paper from Siemens Financial Services (SFS) says innovative Energy-as-a-Service solutions can help UK manufacturers save up £5.6bn over the next five years, including £954m in savings for the chemical manufacturing sector and £800m in for the Food and Drink sector. The report, entitled ‘Future Savings – Current Gain’, estimates that by partnering […]
Positive Cashflow Finance (“Positive”), the Manchester-based independent invoice finance provider, is delighted to announce the appointment of Matt Carey as business development manager. Matt will be responsible for building and maintaining strong relationships with introducers in the North West, whilst supporting UK SMEs to access funding lines between £10k and £1m for growth. The appointment […]
Catalyst Business Finance has appointed Lee Ashton as broker development executive to join its growing sales team. Lee has over 10 years’ experience in the finance industry having previously worked for Aldermore and Nucleus Commercial Finance in business development roles. She’ll be working with broker development manager Melissa Marriott, to develop new relationships within the […]
The Office for National Statistics (ONS) first estimate of retail sales for September reveal the amount of goods bought by shoppers fell -0.2% compared to August, and that online sales stalled even more dramatically, says the home delivery expert ParcelCompare. ParcelCompare’s head of consumer research, David Jinks MILT says: ‘We have grown used to e-commerce […]
Annually, thousands of businesses fall victim to fraudulent customers. Footlocker, for example, recently got swindled for 1.8m euros by a fake company called Ups Consultancy. This case also involved ING being fined on grounds of negligence in its due diligence of fraud and was widely reported on in the media. So, fraud not only leads […]
As the Brexit deadline approaches, a new survey commissioned by Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), revealed that, while the majority (96%) of UK senior finance decision makers in large companies have been preparing for Brexit for the past year, the work to become post-Brexit ready is still an uphill […]
A well-known Llanberis hotel has tripled its turnover, thanks to funding deals worth more than £85k in total, secured by finance specialists, Bathgate Business Finance. The Padarn Hotel received a transformational overhaul after being purchased by entrepreneurial couple, Lesley and Simon Wilson in 2016, with turnover now three times higher than when they acquired the […]
