S&P Global Ratings says UK banks face an awful earnings environment, with the Covid-19-pandemic-induced recession resulting in large impairment charges and a prolonged zero-interest-rate bound squeezing profit margins. However, exceptional monetary and fiscal policy intervention has eased an initial asset quality shock and reinforced bank liquidity and capitalisation. “Banks’ macroeconomic assumptions may prove to be […]
It’s not just cyber technologies or digital currencies that are worrying financial crime teams in financial institutions across the UK & Ireland. It’s also the increasing volume and variety of more established financial crimes that aren’t new, but are incredibly hard to detect, such as mule activity; the proceeds of trafficking; the abuse of corporate […]
“Solicitors and other professionals involved with transfers of customers’ money must ensure their own systems are not vulnerable to being hacked and warn customers that last-minute changes to payment accounts are likely to mean fraud is being attempted.” Katy Worobec, managing director: Economic Crime, UK Finance made the statement in her introduction to ‘Fraud – […]
A partnership of the West Midlands Combined Authority (WMCA) with one of the UK’s biggest banks is helping the region’s economy to recover from the Covid-19 shutdown by funding £1.8m for apprenticeship training for small and medium-sized enterprises (SMEs). The WMCA set up the Apprenticeship Levy Transfer Fund to cover the costs of training apprentices […]
The Chartered Trading Standards Institute (CTSI) has received intelligence on a scam involving callers pretending to be from a bank security team. The fraudster then asks the recipient to verify three large sums paid by using their debit card in various parts of the UK, which the recipient denies. The person is then informed that […]
An audit of the alcohol market has found high levels of compliance to industry standards. While some claim that alcohol producers do not provide the right information on bottles, in reality this isn’t the case. Independent auditors and the Independent Complaints Panel’s decisions show 95% adherence to regulatory standards. The Portman Group, the social responsibility […]
Cloud based accountancy software provider FreeAgent has today launched a series of improvements that will allow its customers to oversee, plan and protect their business with more than ease than ever before. From today, FreeAgent is visible within NatWest’s online digital banking platform, allowing businesses who bank with NatWest to view their finances and accounting […]
MET Parking Services Ltd is the latest business that has been supported with a funding package by leading alternative lender to mid-sized UK SMEs, ThinCats, through the CBIL Scheme. Established in 2005, MET is a car park services operator, providing a comprehensive range of tailored parking management and enforcement services to over 500 private land […]
VibePay is continuing on its ambitious path of growth, with the integration of more UK banks and payment providers via open banking, and a business account function in its newly launched social payments app. With 24 banks now integrated with the app, including new additions Starling, Capital One and Tesco, VibePay is aiming to boost […]
United Trust Bank (UTB) and Freedom Finance have completed a second charge ‘industry first’ progressing a case from application to offer using the recently launched B2B Digital Messenger service developed by Nivo. The new system, which eliminates the need for email and post, enables a seamless digital transfer and sharing of key customer documents and […]
