• 40% of businesses are currently facing over £10,000 in unpaid invoices (1) 

• Solvency a concern for small businesses as 1 in 4 worry they won’t survive into 2021

• UK faces a trade credit crunch as customers seek longer payment terms and suppliers look to cut them, while the sector deals with backlog of unpaid invoices

Nordic challenger bank Lunar has launched an account and card designed to help teenagers better manage their money.

The app, specifically for 15 to 17 year olds, offers a basic account and card, spend overview, saving goals, budget tools, instant notifications and free transfers and payments.

By targeting teens, Lunar is hoping to secure a pipeline of lucrative adult customers, building up its base of 150,000 users throughout the Nordics.

These findings show that even before COVID-19 struck, digital banking was increasing exponentially. As more people adopt online and mobile banking, the demand for greater personalisation, flexibility and value that consumers expect from their providers will increase. For banks and fintechs, this means they’ll need to quickly launch new services and features to stay competitive and retain customers. Underpinning this will be the need to deliver seamless digital payment experiences.

Cloud9 Technologies ("Cloud9"), a leader in cloud-based communications, has completed a $17.5 million Series B funding round led by a strategic investment from UBS, with participation from existing investors including J.P. Morgan and Barclays.  Agility, mobility, and resilience have come into sharp focus at financial institutions, accelerating demand for flexible remote working tools on and off the trading floor and increasing the adoption of the industry’s only fully cloud-based voice communications solution.

The integration of Troovo’s advanced Robotic Process Automation (RPA) engine with Amadeus’ B2B Wallet means the entire virtual payment flow can now be automated very quickly, helping the travel industry digitally transform B2B supplier payments. 

Triple Point today announces a rapid turnaround investment initiative to help new start-ups launch, in recognition of the role innovation and technology will play in accelerating the UK’s economic recovery.

İşbank and Commerzbank have jointly run an international trade finance transaction based on distributed ledger technology (DLT). Payments were secured by digitally processing the related data transfer via Corda blockchain technology on the Marco Polo trade finance network.

İşbank is the first bank in Turkey to perform a trade finance transaction using blockchain technology. The transaction took place on 27 May 2020 between İşbank, Şişecam, Kuraray Europe GmbH, and Commerzbank AG and supported the trade of laminated glass interlayers from Germany to Turkey.