Coutts and NatWest have launched a programme to help entrepreneurs in the Interactive Entertainment (IE) space build and develop their businesses.

Starting in June 2022, the six-month accelerator is aimed at ambitious e-sports, gaming, social media and streaming entrepreneurs across the UK who have recently started a business or are thinking about forming a company. 

The programme aims to empower entrepreneurs by providing fully-funded access to a range of tools and opportunities including one-to-one coaching with experts in the field, a network of like-minded peers and invitations to face-to-face and virtual events on how to build and grow their businesses.

The accelerator can help develop the skills, knowledge and networks needed to access new markets and funding, build an effective team, develop leadership skills and create a scalable infrastructure.

Applications are now open online via the Coutts website, and candidates do not need to be existing Coutts or NatWest customers to be eligible. Applications close on 13^th May 2022.

The programme will be delivered in partnership with the NatWest Accelerator which is rated by Beauhurst as the top UK Accelerator by size and growth and formally endorsed by the ScaleUp Institute.

NatWest, the UK’s biggest business bank, has supported more than 3,500 businesses since 2018 thanks to its 13 accelerator hubs across the UK. Out of these businesses, 43% are female-led and 20% are run by entrepreneurs from an ethnic minority background.

Paul Franks, Interactive Entertainment Lead, Coutts, said: “Interactive Entertainment is one of the fastest-growing industries in the UK, with the global gaming market on track to surpass $300 billion by 2026.

“By helping entrepreneurs form a business and a strategy behind something that is normally considered a hobby, we’re striving to change the misconception that being in interactive entertainment isn’t a ‘real career’. At Coutts, our aim is to be the go-to bank for those in IE, using our team of experts to help them thrive.”

Reassured, the UK’s largest life insurance broker, today announces that it has appointed Simon Towndrow as its new Head of Digital Product in a move to continue the development of their digital platforms.

Simon will work closely with the board to build upon the successes of the last two years, including the continued investment in Reassured’s infrastructure to enable effective digital services. This will include continuing to diversify services in order to be flexible to customer needs and provide the best possible experience.

Simon joins Reassured from Hero, the social shopping platform acquired by Klarna in 2021, where he worked as Director of Performance. Prior to that, Simon was Head of Strategy & Digital at CloudTags.

Alongside this fast-paced, VC-backed startup experience, Simon also previously lead the digital teams at Domestic and General and Harvey Nichols, making him perfectly placed to head up Reassured’s consumer facing development.

Simon is the third senior hire to the company in as many months, showcasing the strength of the team at Reassured and its ongoing growth and expansion to new services.

James Turnbull, Chief Digital Officer, comments:

“With a proven track record in delivering eCommerce and multichannel growth across the insurance, finance and retail sectors, Simon brings a vast range of knowledge and experience to the role. The last 2 years has reminded us that we need to meet customers on their own terms, so whether that’s through digital or telephony services, we will offer whatever customers need to make the right decisions for them and their families. Simon will play a key role in driving the innovation needed to ensure our customers get the best possible service while making the process as smooth as possible for insurers too.”

Simon Towndrow, Head of Digital Product, comments:

“The way we all buy any service has been transformed over the last decade – we now expect instant access and delivery of services with things like streaming services, food deliveries and even online GPs being so readily available wherever and whenever we want. Increasingly, customers are expecting the same level of service from their insurance brokers and providers. Why shouldn’t they have instant access to insurance via a few clicks on their smartphone? This means that the way we buy and sell regulated products is changing and I’m looking forward to the challenge of bringing this level of flexibility to life insurance, especially at Reassured where the customer experience is always put front and centre.”

Phos, the fintech behind the leading software-only Point of Sale system, has appointed programme management leader Chris Haincock as its new Chief Operating Officer.

At Phos, Chris will be responsible for optimising the customer journey, setting the product roadmap, as well as creating and expanding the company’s project and operations support function. 

With over two decades of experience in the payments industry, Chris is an experienced leader with a track record of success in the international banking market. He has worked with the likes of Visa and Elavon, running multiple commercial and technical global programmes. He also acted as Visa’s POS acceptance project manager during the London 2012 Olympic and Paralympic Games.

Chris has worked with both issuers and acquirers and operated European and global projects in regions such as the Middle East and Singapore. He will be bringing his vast project and programme management expertise to phos in order to develop the company’s commercial readiness and execute go-to-market strategies.

Chris Haincock, Chief Operating Officer, at Phos said: “I am excited to be joining the phos team to accelerate growth and help drive the next generation of payments. Now is a really exciting time to be in the industry. There is so much innovation happening and phos is right there at the front leading the charge, The team is really collaborative and unified behind one vision - to make payments simpler, more affordable, and efficient for merchants. I look forward to being a part of this fantastic team, taking software POS to new heights and new territories.”

Brad Hyett, CEO at Phos added: “We’re pleased to welcome Chris on board the Phos team. He comes with a wealth of experience in payments, having worked in multiple regions, in some truly exciting and innovative projects. Beyond the delivery of programmes, Chris is an exemplary leader, committed to ensuring we provide the best work environment, culture, and structure for the whole team. Allowing them to enjoy and thrive at their work. We’re thrilled to have Chris join us at this pivotal point in our growth.”

DDoS attacks, however, were not limited to the government sector last year. The volume of DDoS attacks per customer aimed at the retail industry skyrocketed by 6,288%. 

Next up was the healthcare sector. It experienced a 260% growth in DDoS attack volume per customer. 

The research and education sector occupies a fourth place on the list with a 62% rise in DDoS attack volume in 2021, followed by online commerce and gaming with 41%. Meanwhile, the technology sector saw a 36% increase in DDoS attack volume per customer last year. 

While the volume of DDoS attacks grew across most industries last year, finance and telecom sectors experienced a decrease. DDoS attack volume plummeted by 34% and 58%, respectively, across the aforementioned industries.

Overall, the average attack volume per customer rose by 26%.

Government sector more prepared to mitigate DDoS attack risks 

Despite rising DDoS attacks volume, the government sector handles cyberattacks more effectively than before. 

In 2021, the government sector mitigated more than ten times the volume of attacks compared to 2020. In 2020, the blocked volume of DDoS attacks aimed at the sector stood at 1.22%. Meanwhile, in 2021 the number rose by 12.08% to 13.3%, making the government the top third sector with the highest volume of blocked DDoS attacks in 2021. 

However, the retail industry had the largest spike in mitigated DDoS attack volume and the second biggest volume of blocked attacks last year. In 2021, the volume increased by 20.89% from 0.61% to 21.5%.

In addition to government and retail, the volume of blocked DDoS attacks aimed at the healthcare industry grew by 5.98%, from 6.12% in 2020 to 12.1% in 2021.

The rest of the top attacked industries experienced a decrease in the volume of blocked DDoS attacks last year compared to the year before. Telecom saw a 17.93% plunge from 23.4% in 2020 to 5.47% in 2021, finance had a 10.81% decline from 17% to 6.19%, meanwhile online commerce and gaming had a 6.4% fall from 28.7% to 22.3%. However, even with the drop, the sector experienced the highest volume of DDoS attacks out of all in 2021. 

Other industries with declining DDoS attack volume include technology with a 2.8% drop and research and education with a 0.63% decrease.

Storyline: 6th APRIL DUBBED THE ‘EYE’ OF THE UK’S COST OF LIVING CRISIS AS ENERGY BILLS SPIKE AND NEW TAX INCREASES PUT ENORMOUS STRAIN ON HOUSEHOLDS

• As new National Insurance increases come into force on 6th April, research shows that almost two-thirds of employees still don’t understand the information in their payslips

• Almost half of workers (40%) said that they got little or no financial advice and support from their employer

The 6th April 2022 marks a new financial year for businesses. It also brings the start of an avalanche of new monetary challenges for the entire UK. Alongside the hugely publicised energy price increases, both UK employers and employees will also be facing further financial woes as new levies and taxes come into effect. Research from PayDashboard* has shown that UK workers are asking for more guidance and support from their employers on how to manage their pay, with 84% of those surveyed saying that they are considerably worried about their finances.

Further data from the study, which surveyed over 2000 people in the UK to understand more about their current financial position and the contributing factors to this, has shown that almost half of workers (40%) said that they got little or no financial advice and support from their employer. The research also indicated that for so many their concerns started on payday, with almost two-thirds of employees admitting that they often don’t understand the information on their payslip. Leading to concerns with monthly financial planning for so many.

The worrying statistics also revealed that over a third (38%) of the UK is, or has recently been, in serious debt. Amongst 18 – 34-year-olds specifically, 84% said that financial worries are having a significantly negative effect on their health.  Of those 46% who have felt more anxious and 35% admit to being depressed.

Laura Hughes at PayDashboard, believes that employers can do so much more to support and guide their staff, helping them to better understand the possible changes to their payslips, offering essential tips on how to re-claim any benefits or supplements entitled to them.

She commented: “There are many ways that employers can help. They must start by clearly outlining the big things that will impact their workers’ bottom line pay in 2022, such the Health & Social Care Levy. However, there are allowances, and tax breaks that employers and employees are entitled to help them claim some of this money back. Unfortunately, so many are unaware of this and we need to do more to educate and support our workers.”

PayDashboard’s Laura Hughes offers advice on what you need to know:

The new Health & Social Care Levy

From 6 April 2022, a 1.25 percent point increase to the main and additional rates of National Insurance contributions will take effect with revenue raised will go directly to support the NHS and equivalent bodies across the UK. Looking forward to April 2023, the Levy will be collected as a separate tax deduction (and currently, we are told that National Insurance contributions will return to their previous levels).

Employers have been encouraged to add some standardised wording to payslips from April 2022 to explain this change to their workforce. This is the first time that employers are being asked to explain a new legislation to their employees.

While they are only being asked to publicise the introduction of the levy, there is a wider impact for workers who will not receive a pay rise from March to April 2022. For the average worker not receiving a pay rise, their take-home pay will go down in April 2022 when the Levy comes into effect.

A worker earning £30,000 a year will pay around £214 more next year, a difference of around £17 a month. For those earning £50,000, the levy represents a £38 a month change.

Tax allowances are stagnant

Prior to 2020 we saw a rise in income tax bands or the personal allowances – resulting in employees taking home more net pay year to year. For 2021-22 the allowances remained the same in England, Wales and Northern Ireland, with some Scottish taxpayers seeing a minor change, and the same has happened this year. So with the introduction of the HSC Levy, and no increase to personal allowances or tax rates for the majority of UK workers, most employees will see their take home pay drop in April.

Where you can claim back:

Check your tax allowances

The Marriage tax allowance is often overlooked and, in fact, recent data has indicated that 2.4 million qualifying UK couples are missing out! Marriage tax allowance for the 2021/22 tax year is worth up to £252. But you could have the opportunity to claim for previous years too. If you are married or in a civil partnership, and one of you earned less than £12,570 personal allowance between 6 April 2021 and 5 April 2022, you may be entitled to around a £1,220 tax break. However, the other partner needs to be a basic 20% rate taxpayer and earning less than £50,270.
This simple guide explains it all New Tax Year 2021 - The Marriage Allowance guide | Download | Pay Dashboard

Salary Sacrifice

Salary Sacrifice is another way organisations can support their employees. Many companies will already have this in place through the Government’s popular Cycle to Work scheme, but more companies may look to offer Salary Sacrifice pensions in 2022 as this will offset some of the impact of increase National Insurance Contributions. With Salary Sacrifice, the deductions for pension contributions (or bicycles for the cycle to work scheme) is taken from an employee’s pay before tax and National Insurance deductions, so the employee pays less tax.

More information here: National Payroll Week 2021 - Salary Sacrifice | Download | Pay Dashboard

Claiming back your energy costs when WFH

While costs for travelling to work will have diminished, other expenses such as energy, internet costs and business calls are likely to have increase. Your employer can pay you a fixed rate of £6 a week to cover this (and you don’t have to declare it on a self-assessment tax return). However with many businesses feeling the pinch, not all companies can afford to do this. In which case, you can claim tax relief from the Government instead. But the rules have changed since Covid rules have lifted – and from 6^th April your ability to claim tax relief is only if you are required to work at home on a regular basis, either for all or part of the week. But you cannot claim tax relief if you choose to work from home.

The online portal for claims can be found here: Claim tax relief for your job expenses: Working from home - GOV.UK (www.gov.uk)

Don’t be taken in by online sites making the tax claim for you

Most tax breaks (including the marriage allowance and working from home) are very easy to claim yourself and you don’t need to do a self-assessment tax return. There are companies out there who will offer to assess you and make the claim for you for free. But they commonly keep 30-50% of your tax reclaim as their fee. So before you use a managed service like this, investigate what is required and whether you are willing to do it yourself in order to keep more of the cash.

Alongside more customer wins and reduced operational costs, WALLIX appoints a new executive hire to drive its continued acceleration

WALLIX, a European cybersecurity software developer and expert in privileged access management (PAM), has reported its 2021 full-year earnings. Alongside the results, the company has announced the appointment of Frédéric Sarrat as Deputy Managing Director, to continue to drive and execute the company's growth plans.

Further to the company's FY21 turnover report earlier this year, which revealed a record number of new accounts and strong international growth with turnover rising 35% to €9.2 million in 2021, the full year earnings show continued investment in the partner network, with increased customer growth across EMEA.

In addition, the full year earnings show operating cash flow sharply improved. There was a significant reduction in the operating loss and a favourable €5.9 million change in working capital. Cash flows from investing activities amounted to a €5.6 million outflow, primarily related to product development R&D costs. Free cash flow was therefore positive at €0.6 million. As of December 31, 2021, gross cash and cash equivalents amounted to €22.7 million versus €23.2 million as of December 31, 2020. As WALLIX continues to grow, the company is still on track to invest an estimated €10 million in organic growth, nearly half of which will be completed in 2022.

To support the company on its next stage of growth WALLIX is continuing to invest and grow its team. Underpinning this, Frédéric Sarrat has been appointed as Deputy Managing Director. He will be responsible for Marketing, Sales, Support & Services, Product and R&D departments. Frédéric brings 20 years of successful development and transformation experience in the Telecom, Software and Security sectors. Most recently, Frédéric led the integration and transformation of IDEMIA, a global leader in security and identity technologies, and managed the consolidation and development of the group's digital activities.

Jean-Noël de Galzain, Chairman of the WALLIX GROUP Management Board, said: “This strong momentum and financial strength will further bolster our confidence as we enter a new phase of growth, driven by a bold strategy aimed at meeting the cybersecurity challenges related to the omnipresent digital transformation. In keeping with our vision of “PAM for all”, we are supporting these structural changes with innovative technology, providing companies worldwide with solutions to safeguard digital access for all users, including WFH employees, sensitive users both inside and outside the IT system, access to industrial systems and, in the future, connected objects. 

We are focusing on implementing our development plan and roadmap while at the same time continuing to support key accounts and the deployment of WALLIX solutions across all sectors through our network of 300 VADs, VARs and integrators. We are determined to make WALLIX a world leader in digital transformation security with the capacity to structure the cybersecurity sector in Europe, while also help build a safer, more responsible and trusted digital world, and make it accessible to as many people as possible.”

Alpian SA, an innovative digital private bank, today announced the granting by FINMA of a banking license and a successful CHF19 million Series B+ closing, enabling Alpian to shortly launch to the public in Q3 2022, becoming Switzerland's first digital private bank.

Alpian, majority-owned by Fideuram-Intesa Sanpaolo Private Banking, secured a third round of financing, fully subscribed by Fideuram - Intesa Sanpaolo Private Banking. The financing will support the deployment of Alpian's range of services in Switzerland, comprising both private and online banking.

This hybrid model combines a secure, state-of-the-art banking experience with the support of Alpian's qualified wealth advisors, giving affluent clients access to services normally reserved for traditional private banking. To complement this, Alpian has seamlessly woven everyday banking features into its digital offering.

Schuyler Weiss, CEO of Alpian, commented:
"Since 2019, we have built what will become Switzerland's first digital private bank. With the funds raised during the Series B+ and with its new standing as a licensed Swiss bank, Alpian is well equipped to launch its offering."

Pasha Bakhtiar, REYL Intesa Sanpaolo Partner and Chairman of the board at Alpian, added:
"We are proud to have passed these two milestones on our way to delivering a truly unique and bespoke digital private banking offering. The successful journey so far is a testament to the resilience and dynamism of the Alpian team, as well as the vision of REYL Intesa Sanpaolo."

Luca Bortolan, Head of Direct Bank Fideuram Intesa Sanpaolo Private Banking, added:
"From the beginning, we have seen Alpian as a great opportunity to invest in the development of digital private banking. Alpian will bring both strategic and synergy driven value, demonstrating our proactive commitment of addressing the needs of its current and future clients."