UK Small Business Equity Investment Declined 11% in 2022 Driven by a Downturn in Market Conditions in Second Half of the Year, as Ongoing Market Challenges Continue into 2023
- 10 months 1 week ago
- Banking
The total value of equity investment in the UK’s small businesses declined by 11% to £16.7bn in 2022, driven by a downturn in market conditions, reveals the British Business Bank’s annual Small Business Equity Tracker, published today. The total number of deals also saw a modest decline of 7%, falling from 2,912 in 2021 to 2,702, the first annual drop in equity deal volumes since the Beauhurst data series began in 2011.
Global Banks to Spend $57 Billion on Legacy Payments Technology in 2028, Impacting Costs and Limiting Growth
- 10 months 1 week ago
- Banking
According to a new study by IDC Financial Insights sponsored by Episode Six (E6), a global provider of enterprise-grade payment processing and digital ledger infrastructure, spending on legacy paytech is rising rapidly and damaging the growth prospects of banks around the world. Global financial institution (FI) spend on outdated payment systems is expected to climb to $57.1 billion in 2028 from $36.7 billion in 2022, with an average annual... more
Only 29% of Young People Trust Financial Institutions to Act Ethically, According to New Research by Fairer Finance Pioneer etika
- 10 months 1 week ago
- Alternative Finance
etika, the purpose-driven, people-first finance provider of fair and ethical finance, has today released the results of a new consumer insights survey* exploring the attitudes of young people in the UK towards the environmental and social impact of financial products.
Be Ready - Iliad Offers Testing Solution for Banks Signing Up to Federal Reserve’s FedNowSM Service
- 10 months 1 week ago
- Banking
Iliad Solutions, a global leader in payments testing, is offering support to financial institutions adopting the new FedNow Service to help them get ‘Service’ ready. The FedNow Service, due to go live in July, will give financial institutions across the US the opportunity to provide new, safer and efficient, instant payment services in real-time, 24/7. Testing is critical
Belgium’s Keytrade Bank Selects Infosys Finacle Suite for Core Banking Transformation
- 10 months 1 week ago
- Core Banking
Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Keytrade Bank, the first online bank in Belgium and part of Credit Mutuel Arkea, one of France’s largest banking groups, today announced the bank’s decision to select Infosys Finacle as the preferred partner for the modernisation of its core ba
Banks Admit to Losing 20% of Their Customers Due to Poor Customer Experience, Having Overlooked What Matters, New Study Reveals
- 10 months 1 week ago
- Banking
Global banks are losing one in five (20%) of their customers due to poor customer experience, having overlooked what truly matters, according to new research by 10x Banking.
Money 20/20: ‘Banks Called Upon to Support SMEs International Expansion, as 70% Abandon Overseas Plans’
- 10 months 2 weeks ago
- Banking
Banks need better cooperation with SMEs to grow the economy as 70 per cent of businesses have abandoned overseas expansion plans due to a lack of resources and support, according to industry experts at Money 20/20. Almost three quarters (72 per cent) of business owners feel their banks provide ‘very limited’ support around international finances, revealed the SME Empowerment Report from financial toolkit, HedgeFlows.
Enfuce Announces Partnership with Kvika Bank at Money 20/20 to Transform Financial Services in Iceland
- 10 months 2 weeks ago
- Banking
Card issuing and processing pioneer Enfuce has been chosen by Iceland’s Kvika Bank to modernise its payment services, including the launch of a Visa consumer credit card, integration with Apple Pay and Google Pay, and the relaunch of the bank’s market-leading Aur app.
BANKING FOI STATS: Complaints About Nuisance Calls Saw Freak Drop of 57% in 2022, Quadient Reveals
- 10 months 2 weeks ago
- Banking
The number of nuisance calls and texts reported to the Information Commissioner’s Office (ICO) dropped by 57% in 2022, a Freedom of Information (FOI) request from technology company Quadient has revealed.
Mumbai-based IndiaP2P Becomes the First Indian Startup to Win Women World Banking’s Fintech Innovation Challenge
- 10 months 2 weeks ago
- Banking
Mumbai-based fintech startup IndiaP2P announced that it has won the Grand Prize at Women World Banking’s Fintech Innovation Challenge.
Teya and Liberis Team Up to Improve Access to Finance for UK Merchants
- 10 months 2 weeks ago
- Alternative Finance
Teya, the customer-centric operating system and financial service provider for merchants in Europe, has today announced its partnership with Liberis, the UK’s leading embedded finance platform.
Intellect Global Consumer Banking Launches Open Finance Enabled Retail Banking Platform Built on eMACH.ai to Revolutionise the Retail Banking Industry
- 10 months 2 weeks ago
- Retail Banking
Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena Limited, has launched its Open Finance Enabled Retail banking platform built on eMACH.ai at Money20/20 in Amsterdam. The new Retail Banking Platform empowers banks to create unique products and curate experiences by partnering with country-ready marketplace players. The platform encompasses end-to-end Retail Banking across Savings, Deposits, Payments,... more
Allica Bank Enlists ClearBank to Boost Business Banking for UK SMEs
- 10 months 2 weeks ago
- Banking
ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, today announced its partnership with Allica Bank, the fintech challenger bank dedicated to supporting established UK small and medium businesses.
Small and Medium-sized Consultancies Say Offering Specialist Consulting Services Can Stymy Growth, But Remains Key to Long-term Success
- 10 months 2 weeks ago
- Alternative Finance
Offering a specialist consulting service can hinder short-term growth at consulting firms throughout the UK, but providing specialist expertise remains crucial to their long-term competitive advantage, according to new research published today.
HeavyFinance Partners with Agricarbon for Major European Climate Project
- 10 months 2 weeks ago
- Alternative Finance
HeavyFinance, a European climate tech investment marketplace, has partnered with automated soil carbon measurement company, Agricarbon, for a European climate project to measure carbon impact.
