Tagged: united kingdom

March 12, 2025 @ 8:14 am By Omar Faridi  |  

Research from Lloyds has found nearly a quarter (24%) of UK adults think all their savings are tax free, regardless of the type of account and amount saved. Every tax year, people can save and invest up to “£20,000 tax-free, as long as the money… Read More

March 12, 2025 @ 8:12 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) is stepping up efforts to address the relatively slow adoption of artificial intelligence (AI) in the banking sector, citing concerns that overly aggressive regulatory requirements may be stifling innovation. In a move to tackle this pressing issue, the FCA… Read More

March 11, 2025 @ 11:05 am By JD Alois  |  

ClearBank has selected former CFO Mark Fairless as its new CEO. According to a release, founder and former CEO Charles McManus will continue with the bank as a member of the Board of Directors, helping to guide the firm’s strategy. McManus will also remain as… Read More

March 11, 2025 @ 8:58 am By JD Alois  |  

Paytech Blink Payment says it has integrated with Paracode, a provider of insurance software. Blink explains that ParaCode provides insurance firms, brokers and others tools like claims management, reporting accounting and other tasks. The company states that the partnership will enable insurance firms to process… Read More

March 11, 2025 @ 8:04 am By Omar Faridi  |  

Experian noted that research released for Credit Awareness Week, reveals rising costs (61%) and economic uncertainty (58%) are the two biggest barriers for British businesses striving for sustainable long-term growth. Additional barriers cited include “consumer confidence, regulatory changes and cybersecurity threats.” To combat these challenges,… Read More

March 10, 2025 @ 8:51 am By Omar Faridi  |  

UK labor market conditions continued to weaken midway through the first quarter of 2025, according to the latest KPMG and REC UK Report on Jobs survey, compiled by S&P Global. While declines in both permanent placements and temp billings eased, they remained “marked overall as… Read More

March 8, 2025 @ 11:22 am By Omar Faridi  |  

Lloyds Banking Group, which is one of the United Kingdom’s largest FIs serving a large and diverse customer-base, is set to cut hundreds of permanent IT jobs in the UK while simultaneously hiring engineers for similar roles in India, according to a recent FT report…. Read More

March 7, 2025 @ 9:15 am By Omar Faridi  |  

Karim Haji, Global and UK Head of Financial Services at KPMG, comments on the Money and Credit statistical release from the Bank of England. Karim Haji from KPMG noted that the sharp rise in borrowing suggests that many households “struggled to stretch disposable incomes between Christmas… Read More

March 7, 2025 @ 9:12 am By Omar Faridi  |  

UK business confidence increased 12 points to 49% in February, the highest level since August 2024, according to the latest Lloyds Business Barometer. The boost in business confidence in the UK was mainly driven “by increased economic optimism, which rose 18 points to 42%, the… Read More

March 7, 2025 @ 8:22 am By JD Alois  |  

  Multiple High Street banks recently experienced App outages impacting customer usage of their services. Making matters worse, the Parliament Treasury Committee issued a report sharing that: “Nine of the top banks and building societies operating in the UK accumulated at least 803 hours, the… Read More

March 6, 2025 @ 2:46 pm By JD Alois  |  

The UK Parliament Treasury Committee has issued a statement on the unfortunate occurrences of bank App outages. In early February, the Treasury Committee sent letters to nine bank CEOs demanding information on the size of the problem. At that time, the Committee noted that as… Read More

March 6, 2025 @ 6:47 am By JD Alois  |  

Zopa Bank has hired a former Visa executive as its new Chief Analytics Officer (CAO) Jeremy Penzer was previously Head of Data Science for Europe with Visa. Before that, he served as Capital One Europe’s Chief Analytics Officer and an academic statistician at the London… Read More

March 5, 2025 @ 9:57 pm By Omar Faridi  |  

Bondsmith, the UK’s cash savings fintech, is pleased to announce the launch of the country’s FSCS-insured bank deposit sweep, bringing cash management solution to British savers. Claiming to be motivated or “inspired” by the FDIC sweep programs in the United States, Bondsmith’s new offering “enhances… Read More

March 5, 2025 @ 10:24 am By JD Alois  |  

MiCA, or Markets in Crypto Assets, is a regulatory ecosystem created by the European Union. The rules provide guidance for most digital assets with the exception of digital securities. Eunice AI has announced a  MiCA whitepaper library to facilitate compliance for digital asset firms interested in… Read More

March 4, 2025 @ 7:59 am By Omar Faridi  |  

UK Finance has released its latest Household Finance Review for Q4 2024, which explores trends in household spending, saving, and borrowing. UK Finance noted in the update that the mortgage market strengthened in Q4 2024, with both first-time buyers and home mover numbers “up by… Read More

March 3, 2025 @ 5:02 pm By JD Alois  |  

In the US, the number of publicly listed firms has been on the decline for many years now. The number of public firms listed on the London Stock Exchange has experienced a similar drop in the number of listings. This phenomenon has rattled policymakers in… Read More

March 3, 2025 @ 9:45 am By Omar Faridi  |  

The London Stock Exchange Group (LSEG) has share preliminary results for the year ended 31 December 2024. LSEG is reporting strong growth, “accelerating product innovation, significant margin improvement, equity free cash flow £2.2 billion; positive outlook for 2025.” David Schwimmer, CEO at LEG said: “We… Read More

March 3, 2025 @ 8:20 am By Omar Faridi  |  

Prograd, a UK-based side hustle platform for Gen Z in the UK, empowering users to master financial basics through “engaging education” while earning money through online side hustles, has raised £755,470 (at the time of writing) of its £800,000 target via Crowdcube from 46 investors…. Read More

March 2, 2025 @ 5:21 pm By Omar Faridi  |  

  The venture capital  or VC funding landscape in the UK market saw a year-on-year (YoY) decline in deal volume by “12.6% from January 2024 to January 2025, with the number of deals dropping from 87 to 76.” Despite this decrease in deal volume, the… Read More

February 28, 2025 @ 9:45 am By JD Alois  |  

It has been widely reported that multiple bank apps were not accessible by consumers. These include the Bank of Scotland, Lloyds, TSB, and Halifax Bank—all of which fall under the Lloyds Banking Group. Reportedly, Nationwide Building Society was also impacted. The issue is now apparently… Read More