PrimaDollar has made the strategic decision to focus on its category-leading supply chain trade finance platform. This is an enterprise, SaaS, technology solution that enables large and mid-sized importers to take control over how their international suppliers are funded and paid. With the increasing success of this platform and focus on larger clients, PrimaDollar's board has determined that its existing export customers, who are typically SMEs, will be better served by moving across to one of the dedicated export trade finance specialists operating with a similar geographic footprint.

British Lloyds bank has reported a cumulative technology spend of £4 billion over the past three years, with £2.8 billion of that budget allocated towards a three-year transformation plan set out in February 2018.

The pandemic regime has increased demand towards online services, the Lloyds's digitally-active customer base has increased to 17.4 million customers. The number of the mobile app uses has by nearly two million in 2020 to 12.5 million customers. 

Substantive Research, the research discovery and research spend analytics provider for the buy-side, has today announced the strategic hire of Michael Malpiede as Senior Sales Associate Americas, to lead Substantive ’s US expansion, in response to increasing demand for its product and services.

Jointly they will be responsible for expanding the US and European customer base and delivering on Substantive Research’s growth ambition to make their products and services available to an increasingly global community of buy-side clients.

Today the government published new statistics that show businesses across the UK have to date benefitted from 1,593,620 government-guaranteed loans worth £72.9bn to support their cashflow during the crisis through schemes delivered by the British Business Bank.

Despite being hit hard by travel restrictions in 2020, the long-term future for the commercial card sector is bright, with spending forecast to hit new highs by 2022

More than half of commercial card expenditure is on charge cards

European commercial card spending rose by 11% in 2019 to €366 billion and accounted for 8% of the total value of card payments according to RBR’s 19-country Commercial Cards in Europe 2021 study.

What if there was a button to unsubscribe from all your paid subscriptions at once? There is, and a former Mastercard president just invested €4 million in it, as the global Corona pandemic has fueled an explosive “subscription surge.”

SteelEye, the compliance technology and data analytics firm, has been recognised as providing the best trade reconstruction solution at the European TradingTech Insight Awards 2021.

SteelEye won the award due to its ground-breaking Auto-Trade Reconstruction technology. Launched in August 2020, the service uses Artificial Intelligence and Machine Learning to reduce the time it takes financial firms to reconstruct a trade from days to seconds.

Level Financial Technology has secured a revolving credit facility from Triple Point to provide early wage access in a first-of-its-kind ESG deal. 

The interest rate Level pays will reduce by up to a third if users also access budgeting tools available through the app to make positive changes to their personal finances.

42% of financial services businesses want better support and guidance on data security in relation to open banking, according to the latest research by open banking provider YTS.

The survey of financial professionals including banks, lenders and retailers, revealed businesses want better education and training, alongside increased guidance, to help reduce fears around the security risks of open banking adoption. Respondents also stated that they wanted this support to come primarily from regulators.