Barclays Business Banking has announced that it will be the first High Street bank to partner with Propel, a specialist asset finance provider, to offer equipment and vehicle finance via an online platform to one million of their small and medium sized (SME) customers.
A recent study conducted by the European P2P lending platform Robo.cash has named positive profits in 2019 and work with affiliated loan originators as the 2 key factors for P2P platforms’ success during the crisis. Remarkably, interest rates, funding volumes and the platforms’ experience do not play big roles here.
As the UK marks six months since the country went into lockdown, Masthaven Bank has today revealed the extent of its support for its intermediary partners and customers throughout the COVID-19 crisis. Since March, the specialist lender has paid £1.4m in commission to its intermediary partners, providing vital financial support to these individuals and businesses.
ClearBank, the cloud-native clearing bank, in partnership with Tide, the UK’s leading business banking platform , have been awarded £25m to help UK SMEs turn recovery from the coronavirus crisis into a growth opportunity. The funding will be used to provide financial support and products to help SMEs address the challenges they will face in the post-coronavirus and post-Brexit economic environment and to seize on the opportunities that come... more
Sage, the market leader in cloud business management solutions, announced today that Steve Hare, CEO, has been recognised by Glassdoor for having the highest rated leadership score in the UK (95%), during the COVID-19 crisis. The data published by Glassdoor today, uses primary analysis of voluntary, anonymous company reviews and ratings from UK-based current and former employees between 1st March, 2020 and 31st July, 2020.
New data released today by Adyen, the global payments platform of choice for many of the world’s leading companies, underscores the importance of omni-channel retail in mitigating sector and wider economic turbulence caused by the coronavirus pandemic.
Appian (NASDAQ: APPN) today published survey results examining the response of the UK banking sector to the coronavirus pandemic, revealing that nearly three-quarters of respondents say their organisation has become more innovative as a result.
Increased Contactless Spending Could Be Linked to Higher Fraud and Payment Disputes, Warns Global Risk Expert
Monica Eaton-Cardone, COO and Co-Founder of merchant dispute specialist, Chargebacks911, and its revolutionary new financial institution brand, Fi911, warns of the chargeback and fraud risks associated with the increase in contactless payments following the COVID-19 outbreak. In a bid to reduce human interaction, the use of cash, and the touching of contact points such as PIN pads and cash machines, the UK’s contactless spending limit increased... more
In the age of social distancing, being extremely online is the new norm. The entire financial ecosystem is being rocked as banks and credit unions around the world, deal with the impact of COVID-19. The Need arises on how to reinvent the Banks &FI ' Identity& Management system for Fulfilling the knowledge gap that will enable them to rewrite their Customer journey by getting practical Takeaways & Toolkit from the webinar to survive... more
Xero, the global small business platform, today announced that it is increasing the limits on its Starter plan, alongside improving the functionality of payments and insights tools, to help sole traders and new small businesses get started, manage their cash flow and grow during and beyond the pandemic.
Mastercard and PFS Launch World’s First Card-Based Stimulus Scheme to Tackle Economic Impact of COVID-19
Mastercard and PFS (a company of EML) have partnered with the Government of Jersey to develop the World’s first card-based stimulus scheme.
A new study, commissioned by business bank Allica Bank, urges small businesses to re-evaluate their trading horizons, following the establishment of a clear link between overseas trade and SME performance. The study analysed data from over 1,000 companies and ranked their success on a scale that evaluated factors including productivity, growth, consistency and outlook.
As the Government’s CBILS initiative draws to a close this month, two British fintechs Ebury and MarketFinance, have joined forces to ensure SMEs across the UK are able to quickly access the emergency lending. MarketFinance will offer both its CBILS loans and revolving credit facilities to Ebury’s UK SME base to support them with their business finance needs.
The Covid-19 pandemic has caused an increase in finance professionals dealing with outstanding invoices from customers, according to nearly half (48%) of respondents surveyed by fintech company, Onguard. In particular, cash flow problems were cited by nearly two-thirds (65%) as being the most common reason why customers are failing to pay on time. This represents an increase of 14% from February when just over half (51%) of invoices went unpaid... more
The first peak of the coronavirus pandemic has shifted key priorities of large and small businesses alike, making payroll services a top concern for British companies with employee wellbeing a close second. This is according to SD Worx, the payroll and HR services provider.