New research from Yolt, the smart thinking money app and Cebr, has revealed that consumers under the age of 30 consistently spend the least amount of money on luxury items, in absolute terms and when measured as a percentage of their total expenditure. On average, millennials under 30 dedicate just 13% of their weekly expenditure to paying for luxuries, such as holidays, restaurant meals and alcoholic drinks.

IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced a new service that administers FIX connectivity for asset managers.  The new offering enhances the managed service version of thinkFolio, the order management (OMS) and portfolio modeling (PMS) solution from IHS Markit.    

Lost Generation

Over the past decade, as the accountancy recruitment crunch has deepened, firms have experimented with any number of strategies in a bid to both attract and retain the latest generation of graduates. Yet, from the introduction of flexible working hours to offices with beanbags and sleeping pods a la Silicon Valley, these strategies are not working for one essential reason: millennials find the job dull because they are focused on labour-intensive activities versus creative and challenging tasks.

encompass corporation (“encompass”), a fast-growing global provider of intelligently automated Know Your Customer (KYC) solutions, is pleased to announce that it has been selected by APPx Group Holdings, Inc. (“APPx”) (CSE:APPX), a Canada-based Fintech incubator and leader in diversified Blockchain 2.0 development, to support and enhance its Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) processes in line with regulatory requirements.

Cavendish Corporate Finance (‘Cavendish’), the specialist sell-side M&A firm, has advised Rapidata Services, one of the UK’s leading payment platform providers, on its sale to Access Group, one of the UK’s leading providers of software to mid-market businesses. 

The sale represents Cavendish’s second payments transaction in the last three months, highlighting its expertise within the payments sector and its ability to complete high-profile technology deals.

Today’s bank-to-consumer relationship is not what it used to be, and the way we bank has become more fragmented. It’s common for us to change banks or use multiple different providers for mortgages, loans and so on. This is typically because there is a sense of distrust towards the financial sector, and the days of consumers using one bank for absolutely everything have long gone. 

National Settlement Depository (NSD), Russia’s central securities depository, and ARQA Technologies have successfully completed the process of integration of NSD’s centralized system for record keeping of mutual fund units (Mutual Fund Distribution Platform) with QUIK software (electronic trading system), allowing investors to conduct transactions with mutual fund units on the primary market. Currently, 20 market participants are connected to the Mutual Fund Distribution Platform.

Singapore-based cross-border payments company TranSwap has launched its proprietary platform to help SMEs streamline their payment processes and seamlessly make FX payments at the most competitive rates. 

Delta Capita, the international business & technology consulting and managed services firm, has announced its acquisition of Pall Mall Risk Reduction a London-based consultancy specialising in non-financial and conduct risk management for Banks and Investment firms.