The UK banking sector’s exports of financial services reached a new record high of £36bn in 2018, up £1.7bn on the previous year, figures published today by the Office of National Statistics (ONS) have revealed. Total financial services exports, including banking, also reached a record high of £62.5 billion in 2018, up £3.1 billion on […]
LexisNexis® Risk Solutions, the global analytics provider, is today urging companies to review their due diligence processes ahead of the implementation of the 5th Money Laundering Directive (5MLD), which comes into force on the 10th January 2020. 5MLD, the EU’s latest attempt to strengthen its defences against money laundering, includes new requirements to standardise the […]
This month, the European Banking Authority (EBA) announced an 18-month delay to the implementation of Strong Customer Authentication (SCA). However, the delay to PSD2 – which follows UK FCA’s own delay in August – seems to have come too late to harm merchants’ appetite for Open Banking Solutions. Having already implemented the necessary technical fixes, […]
Wefarm, the digital network for global small-scale agriculture, today announced it has raised $13m in a Series A financing round led by Silicon Valley venture capital firm True Ventures. This financing round will help Wefarm further scale its network of 1.9 million farmers, and its newly created Marketplace, to connect farmers in Africa, even those […]
Leading digital cross-border payments provider InstaReM is rebranding to become part of Nium. Headquartered in Singapore, Nium is the global payments platform to enable businesses to send, spend and receive money from around the world, in addition to empowering them to develop their own products that simplify cross-border payments. Nium’s ambition is to create a […]
Keith Morgan has today announced that he will be standing down from the role of chief executive of the Government-owned British Business Bank at the end of 2020 after eight years at the helm of the UK’s economic development bank for smaller businesses. Keith was appointed in January 2013 to lead the design and establishment […]
The Brexit impasse is contributing to perceptions that the UK commercial property market is in the downturn phase of the property cycle, according to the Q3 2019 RICS UK Commercial Property Market Survey. The latest results show the highest proportion of respondents sensing the overall market is in the downturn phase of the property cycle […]
Capitalise.com has appointed ex Receipt Bank CRO, Nelson Da Silva, as chief revenue officer. The new hire comes following a period of growth for the company, which closed a £3.5m funding round in February 2019, subsequently doubling its staff headcount, and confirms Capitalise.com’s position as an accounting technology business. Mr Da Silva has held a […]
LendInvest has hired a new director of mortgage underwriting, and further expanded its regional sales team with a second business development manager for the North West. Gene Clohessy joins the team as director of mortgage underwriting, and will be leading the underwriting team towards its goal of market leading broker engagement, faster underwriting processes, and […]
CYBG has reached another significant milestone in its integration programme as it changes its name from CYBG PLC to Virgin Money UK PLC. As a result, from today the Group’s shares will trade under the new name Virgin Money UK PLC and the London Stock Exchange symbol will change to VMUK. This follows last week’s […]
