Allica Bank, the leading fintech SME challenger bank, has announced a £100m Series C funding round led by global growth technology investor, TCV, with participation from existing investors Warwick Capital Partners and Atalaya Capital Management. With this investment, Allica joins TCV’s impressive roster of portfolio companies, including household names like Airbnb, Netflix, and Spotify, as well as category-defining […]
After a turbulent year both politically and economically, the CBI’s outlook for the economy strikes a sombre tone as we go into 2023. The prime minister and chancellor have stabilized financial markets but must act to boost long-term growth according to the latest CBI economic forecast. Economic growth can only come from increasing productivity and […]
Business lending approvals have been at a record low in 2022. Not only is the number of business loan applicants down, with fewer than one in ten (9%) small businesses applying for finance in Q1 2022, but only a small fraction of applicants are successful. According to the SME Finance Monitor Small Business Index, the […]
Today, Cashplus Bank, the leading digital SME bank, has announced the launch of next-generation credit card functionality for small businesses and sole traders. The new, enhanced credit card, delivered as part of Cashplus Bank’s £5m BCR Capability and Innovation Fund grant commitments, employs Open Banking technology and other advanced features to create a highly flexible […]
Northampton entrepreneurs and business owners are welcome to drop in on Small Business Saturday for an event being hosted by Northampton Metro Bank from 8.30am until 10.00am on Saturday 3 December. Andrew Lewer MP and Jonathan Nunn (Leader of West Northamptonshire Council) will be attending and speaking at the event as well as taking the opportunity […]
Cashflows, the platform that makes it easy for merchants to accept payments, today announces that, despite more than half (52%) SMBs indicating that they would be open to switching payments providers, 78% do not know how to do so. The data suggests that businesses could be trapped in relationships with providers unfit to serve their […]
Despite the bleak economic outlook, investment in digital transformation remains top priority for businesses. According to RSM UK’s latest ‘The Real Economy’ report, over a quarter (28%) of UK businesses now consider digital transformation to be their single most important area of investment. A further 58% of businesses surveyed view digital transformation as among their […]
Cloud-native core banking engine, SaaScada, today announced it was selected by astrantiaPay to launch a Swiss point of contact for international businesses looking to open and run corporate bank accounts in Switzerland. Once regulatory approval is in place, astrantiaPay will provide mission-critical payment services to sophisticated Swiss, European, and global companies. “Promoting SMEs is high […]
92% of SMEs say that rising costs are impacting their profitability – and 32% say it is a big problem, shows a new survey* by Moore UK, the Top 15 accountancy network. With UK inflation having hit a 41-year high of 11.1% in mid-November, businesses are increasingly struggling against a rising tide of costs. By […]
Progress updates for Pool A, B, C, D & F recipients The Board of Banking Competition Remedies Ltd (BCR) today publishes progress updates for Pools A, B, C, D and F recipients, providing a summary of performance against their public commitments to the period 30 September 2022. During this reporting period awardees have continued to […]
30/11/2022
Edition 303 – October/November 2022
Turnaround, a vital culture By Business Money group editor Robert Lefroy TMA...
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