Tagged: uk finance

May 23, 2024 @ 8:26 am By Omar Faridi  |  

Fraud remains a major problem as over £1 billion is stolen by criminals in 2023, according to an update from UK Finance. UK Finance recently released its 2024 annual fraud report, “detailing the amount its members reported as stolen through payment fraud and scams in… Read More

May 14, 2024 @ 8:31 am By Omar Faridi  |  

UK Finance releases its latest mortgage arrears and possessions data for Q1 2024, while highlighting continuing lender support for customers The number of homeowner mortgages in arrears “rose slightly (three per cent) in Q1 2024 compared to the previous quarter,” in line with UK Finance’s… Read More

April 24, 2024 @ 8:23 am By Omar Faridi  |  

UK Finance, in association with law firm Addleshaw Goddard LLP, is announcing a report on the use of model clauses to support the development of the Variable Recurring Payments (VRPs) for commercial applications in the UK. VRPs are a form of payments instruction that “allows… Read More

April 16, 2024 @ 11:12 am By Omar Faridi  |  

UK Finance has announced work on a new UK Regulated Liability Network (RLN) experimentation phase with eleven of its members. The UK RLN is envisaged as a common ‘platform “for innovation’ across multiple forms of money, including existing commercial bank deposits and a shared ledger… Read More

March 14, 2024 @ 10:08 am By JD Alois  |  

UK Finance is reporting today that demand for SME financing improved in Q4 of 2023. Last year was difficult for all firms as markets, both public and private, sagged. This was due to rising interest rates paired with inflation as well as geopolitical challenges. However,… Read More

February 22, 2024 @ 4:00 am By JD Alois  |  

Bob Wigley, the Chairman of UK Finance, has joined the Board of Directors of R3. UK Finance is a group that advocates on behalf of the UK financial services industry, representing over 300 individual firms. The group aims to drive innovation and help to shape… Read More

February 12, 2024 @ 9:58 am By Omar Faridi  |  

UK Finance has announced the appointment of Thierry d’Argent, CEO of Societe Generale UK; Saif Malik, CEO, UK, Standard Chartered; and Mickey Schiller, CEO of Leumi UK, to its Board, effective 8 February 2024. TS Anil, CEO, Monzo; and Kelly Devine, Divisional President UK &… Read More

December 13, 2023 @ 10:10 pm By Omar Faridi  |  

In the ever-changing landscape of economic uncertainties, the third quarter of 2023 brought both challenges and glimpses of recovery in household finances. UK Finance‘s Household Finance Review, published recently, delves into “the key trends and indicators that shaped consumer behavior during this period.” Q3 witnessed… Read More

September 23, 2023 @ 6:14 pm By Omar Faridi  |  

UK Finance recently commented on the Financial Conduct Authority’s (FCA)’s account access and closure report. According to UK Finance: “Freedom of expression is vitally important and today’s report from the FCA makes clear that accounts are not being closed because of political beliefs or other… Read More

July 7, 2023 @ 9:42 am By Omar Faridi  |  

UK Finance has released a report which sets out three key missions “to accelerate the digital transformation of the UK’s capital markets.” The report ‘Unlocking the power of securities tokenization’, produced in conjunction with Oliver Wyman, looks at “how securities tokenization (the digital representation of… Read More

March 12, 2023 @ 11:30 pm By Omar Faridi  |  

Feedzai, the firm focused on fighting financial crime with AI, has partnered with UK Finance, the trade association for the UK’s banking and financial services sector, to deliver its Annual Fraud Report. UK Finance has chosen Feedzai as the lead sponsor and contributor “for the… Read More

November 23, 2021 @ 8:09 am By Omar Faridi  |  

UK Finance notes in an update that it brought the payments industry together to “consider the future opportunity for open banking payments and how the market could collaboratively shape that future.” There are now more than 2.5 million Open Banking payments every month compared to… Read More

September 3, 2021 @ 8:18 am By Omar Faridi  |  

Major brands in the Open Banking space have unveiled a new challenge: The VRP Hackathon. It’s organized by Open Future World, Ozone and UK Finance and supported by Accenture, Mastercard, VOLT and Worldpay from FIS. Until now, Open Banking has mainly been focused on settling… Read More

July 3, 2021 @ 10:12 am By Omar Faridi  |  

UK Finance has confirmed four new appointments to the UK Finance Board – which are all effective as of July 1, 2021. Matt Hammerstein, CEO of Barclays Bank UK; Lucy-Marie Hagues, CEO at Capital One UK; John Hourican, Chief Executive of NewDay Group; and Max… Read More

May 7, 2021 @ 11:17 pm By Omar Faridi  |  

UK Finance (a trade association for the UK banking and financial services sector that represents around 300 firms in the UK providing credit, banking, markets and payment-related services), Which? (an organization that reviews products and services, so that you “make the best purchase decisions” for your… Read More

March 2, 2021 @ 11:32 pm By JD Alois  |  

UK Finance has published a proposal for a “new service company” that will support the UK’s open banking infrastructure, according to a public statement. UK Finance is described as the collective voice for the banking and finance industry representing over 250 firms in the UK…. Read More

February 28, 2021 @ 7:33 pm By Omar Faridi  |  

Banking Circle, a financial infrastructure developer, notes that digitalization “dramatically accelerated” in order to address the challenges of 2020. Banking Circle writes in a blog post that having had to innovate (and fast) due to the socioeconomic challenges created by COVID-19, banking institutions are now… Read More

December 17, 2020 @ 11:07 am By JD Alois  |  

UK Chancellor of the Exchequer Rishi Sunak has extended the government-guaranteed Covid-19 business loan schemes until the end of March. The announcement was joined by confirmation that the furlough scheme has been extended until the end of April 2021. The Chancellor said: “Our package of… Read More

November 2, 2020 @ 1:43 pm By JD Alois  |  

As of Thursday, November 5, in a somewhat controversial move, the UK government will shutter a good portion of the country as COVID-19 cases rise. In a release by the UK government, the new restrictions will remain in place until at least December 2nd. The… Read More

July 21, 2020 @ 9:19 am By JD Alois  |  

The UK COVID-19 support programs continue to expand as the banking and finance industry has now approved £47.9 billion to over 1.1 million businesses via government-backed coronavirus lending schemes, HM Treasury reports today. Both traditional finance and Fintechs are supporting these programs. Specifically: Coronavirus Business… Read More