40% of SMEs in the UK have no sustainability plan, while 30% have no intention to develop one

·      Sustainability planning can help to future proof your business

·      365 Business Finance offers a guide with simple sustainability steps for SMEs

Consumers are becoming evermore eco-conscious, as many companies alter their product offerings and practices, with sustainability increasingly becoming a valuable and important part of any organisation’s business model.

Despite this, a survey by YouGov* – conducted during the pandemic – showed that SMEs in the UK continue to fall short when it comes to setting sustainability targets. According to the research, 40% of SMEs do not currently have a sustainability plan in place, with 30% openly admitting that they have no intention of developing or adopting one.

SMEs are a powerhouse for the UK’s economy, as smaller businesses make up 99.9% of the business population. They employ over 16.8 million people and generated £2 trillion in turnover in 2020 alone. If every SME made a greater commitment to the UN’s Sustainable Development Goals, even just taking a few small initial steps, it would contribute greatly towards battling the environmental, economic and social sustainability issues that we now face globally.

This latest helpful online guide, from SME financier 365 Business Finance, offers simple but effective tips for change to assist SMEs in becoming more sustainable and resilient, future proofing their business as climate change and other challenges become more prominent in the lives of the next generation: How SMEs Can Adopt Sustainable Development Goals (SDGs) | 365 Business Finance.

Although smaller businesses are not always in a financial position to commit to and implement big sustainability initiatives, particularly in the wake of the coronavirus pandemic, there are initial steps – which do not require great financial investment – that can be taken to kick-start an SME’s journey towards achieving sustainability goals.

Managing Director at 365 Business Finance, Andrew Raphaely, said, “While all eyes are on COP26 taking place in Glasgow, many businesses are being driven to think of the environment and how they can do more when it comes to sustainability and setting their own targets.

"The benefits for SMEs of developing and striving to achieve sustainability goals include improved brand image, reduced costs if lowering the consumption of resources in the work place, and of course preparing for the future by keeping up with updated government commitments and the needs and visions of employees wanting to make a difference.”

As a trusted and leading lender to small and medium sized businesses across the UK, 365 Business Finance offers merchant cash advances, which are a form of flexible finance with no APR or fixed terms. Although mainly used for cashflow management, the purchasing of stock and equipment, and for the refurbishment of premises, as SMEs grow in size they may also look to use some finance to support the growth of their initiatives surrounding sustainability.

Showcasing its status as a fully fledged cross-chain DeFi platform spanning multiple blockchains, this latest announcement follows the launch of Wing on Ontology, Ethereum, and OEC.

Wing, the credit-based, cross-chain decentralized lending platform developed by Ontology, the project bringing trust, privacy, and security to Web3 through decentralized identity and data solutions, is now live on Binance Smart Chain (BSC). 

By integrating onto BSC, a blockchain known for its high speeds and low fees, Wing will open up its unique lending, borrowing, and insuring options to millions of new DeFi users. The initial supported assets include WING, ONT, BTCB, ETH, BNB, USDT, BUSD, USDC, DOT, ADA, BCH, XRP, DAI, LINK, LTC, DOGE, CAKE, and FIL. 

Since launching on the Ontology blockchain in September 2020, Wing has seen monumental growth in total value locked (TVL), as well as in levels of lending and borrowing activity between users. Over this time, Wing’s TVL has increased astronomically, reaching over $300 million at its peak, driven by its launch on Ontology, Ethereum, OEC, and now BSC. BSC holds over a $19.5 billion worth of transaction value, meaning there is massive potential for even further growth in Wing's TVL.

Commenting on the milestone, Erick Pinos, Americas Ecosystem Lead of Ontology said, “We are excited for BSC users to finally have the opportunity to experience Wing’s unique lending and borrowing services. Wing recently celebrated its first birthday and its arrival on BSC is an exciting development that will bring many new users to the platform. Wing’s TVL has grown considerably in the last year and with the expansion to Binance, more liquidity will become available to users.”

Wing is designed to promote a mutually beneficial relationship between borrowers, creditors, and guarantors through a decentralized governance model and risk control mechanism. This launch will enable BSC users to access Wing’s credit-based DeFi ecosystem featuring a blockchain-based reputation system. This system rewards users for building a positive reputation on the blockchain by offering them preferential lending rates.

Since launch, further asset classes have been added to Wing’s credit platform through the launch of “Any Pool,” which allows for the contractualization and lending of any asset. This innovative feature allows real-world assets such as real estate to be used as lending collateral. To facilitate this, Wing previously partnered with UPRETS, a company that digitizes real estate assets to make them tradable on blockchains.

Small business loan approval percentages at big banks ($10 billion+ in assets) increased from 14% in September 2021 to 14.1% in October. Meanwhile, small banks’ approvals also rose from 19.5% in September to October’s figure of 19.7%, according to the latest Biz2Credit Small Business Lending Index™ released today.

“Banks are showing a willingness to lend, but they have been cautious. While it’s a good sign that approval percentages continue to climb, we are still far below the levels we saw before the pandemic,” said Rohit Arora, CEO of Biz2Credit, one of the nation’s leading experts in FinTech and small business lending. “Every category of lender, with the exception of credit unions, which remained flat, saw their loan approval percentages rise this month.”

Nonfarm payroll employment rose by 531,000 in October, and the unemployment rate dropped 0.2 percentage points to 4.6%, according to Jobs Report from the Bureau of Labor Statistics issued Friday, Nov. 5. Notable job growth was seen in leisure and hospitality, professional and business services, manufacturing, and transportation and warehousing. Many of these new jobs are created by small businesses.

“We are seeing an increase in funding requests from transportation and warehousing companies. These industries have rebounded well from the pandemic,” Arora said. “Entertainment-related companies are starting to come back, although restaurants are still hurting. Many small businesses are gearing up for the holiday season and need capital to cover anticipated additional costs.”

Non-Bank Lenders’ Approval Percentages Rise

• Institutional lenders’ approval percentage rose to 24.7% in October, up from 24.5% in September.
• Alternative lenders approved 25.6% of small business funding requests in October, up from 25.4% in September.
• Credit unions approved 20.6% in October, the same as in September, but down from 20.9% a year ago.

Clausematch, the global regulatory technology (RegTech) company automating policy management and regulatory compliance at financial institutions and other regulated organizations, today officially launches its new functionality - document modifications. The decision to launch modifications comes after a request from the company's core clients.

With the release of modifications, Clausematch presents an advanced functionality that allows organizations to manage deviations to the original document and solve a number of different use cases, while retaining governance and control over the content, permissions, and workflows. Users can now create addendums to their documents and manage them separately. They can also set different levels of access and permissions to these documents on a granular level. This is the most common use case for modifications as well as translations, i.e. creating different interconnected language versions of the same document.

On a basic level, addendums are additions to main documents. They allow you to keep all the changes synchronized on a granular level. Over 300 addendums have been created for a Tier 1 US Bank who originally suggested this functionality. This comprises 10% of all governance documents, i.e. on average, there are up to 10 modifications to 1 document. Clausematch’s modifications allow simultaneous management without losing any important connections and reviewers. The bigger the company is, the more difficult the processes are. For a Top Tier Global Bank working across multiple jurisdictions, this feature comes as an absolute necessity.

What used to take 4 weeks of work to make changes across several compliance groups working with local versions of documents, is now achievable in one day. Identification of which information relates to each client can be seen immediately without any confusion.

Previously, many resources were assigned to syncing these modified versions, keeping them updated and retaining the main documents unchanged. For instance, you had one core document and you needed to incorporate 50 changes for different jurisdictions and for different local versions of that document. For 4 weeks in a row, these documents used to be in the 'work in progress' mode as all of the teams worked on them and it took time and effort to collate the changes without losing important beats. This was the starting point to kick-off the process of building the new Clausematch feature that in fact transforms the way the platform functions making it a significant add-on.

The modification documents allow inheriting full content from the original document automatically syncing the latest revisions. They also allow the content to be updated in a smart and efficient way.

Yan Shtefanets, Product Manager at Clausematch, commented: "Today, we officially present a new type of document that will help big banks and enterprises to organize global and local policies more effectively. If there is a global policy which needs amending to have a slightly different version for a local entity that will address local regulatory requirements. How can you apply these changes without changing anything in the global policy? Now you can create a copy of a global policy that will always contain the latest updates from the original document. This functionality will allow required changes to be applied on top of the original content. Work on this local policy can be assigned to relevant parties from a local entity while keeping control over the update cycle. This allows global compliance teams to work in a new way, completing their assigned tasks more quickly without having to wait for the completion of work as a whole. It also simplifies control over content as users control only their parts of the content."

Anastasia Dokuchaeva, Head of Product at Clausematch "Our customers have challenged us to rethink how to make the process of creating and managing addendums and translations to documents more efficient, where all stakeholders work on their own documents, yet in unison with everyone else. We are proud to deliver this new and innovative approach, and believe it will be a game-changer for our customers. Following the launch of this new product, we are pleased to receive feedback that we have exceeded our clients' expectations, and are excited by the prospect of them being able to maintain all documentation and its variations, synchronized and empowered by technology.”

Document modifications restores absolute and complete synchronization across an organization, aligning all of the changes in global and local documents on a granular level. This functionality reduces the challenges facing organizations that are operating across multiple jurisdictions, and makes it much easier to constantly manage and keep thousands of internal governance documents up-to-date.

Clausematch is planning to enhance and develop modifications as part of the product roadmap. The company plans to release more localization and target version use cases while also adding the possibility to merge content back which is a common scenario for compliance teams.

Clausematch received client feedback regarding the necessity to develop a new feature in January 2021. To recall, the company expanded its operation in the United States in 2020 signing 4 big clients in financial services.

• Rebrand follows years of sustained growth for MCI Club
• Coupled with the launch of finova Connect, a suite of tech-enabled broker solutions

finova, a leading mortgage and savings software provider for lenders and advice professionals, which was formally known as DPR Group, today announces the rebrand of MCI Mortgage Club to finova Payment and Mortgage Services.

finova Payment and Mortgage Services has grown the number of broker cases by 133% since 2018 and has more than doubled its lender panel in the last 24 months, making it one of the most significant entities connecting mortgage brokers and lenders in the UK.

finova Payment and Mortgage Services customers benefit from a single, innovative payment and processing package, which enables brokers to earn more on procurement fees, while utilising the latest technology. Further enhancements to the finova Payment and Mortgage Services’ proposition means that brokers now also have the option to advise on, or refer to a specialist, equity release and secured loan cases.

To support day-to-day operations, finova Payment and Mortgage Services’ members can also take advantage of the finova Broker Platform at a discounted price, which helps to expedite every step of the mortgage process.

The finova Broker Platform includes:

• Customer Onboarding Module – a tool designed to attract new customers and make their onboarding process as seamless and efficient as possible
• Client Portal – an online module which enables brokers and customers to collaborate on their application, with all relevant documentation stored in one place and easily modifiable
• Case management & CRM – software to support the overall application process with configurable workflows and cloud-based storage
• Customer Retention Module– Using marketing automation, the module engages with consumers during the initial term of their mortgage and prompts them to renew through a timely stream of personalised emails.

Melanie Spencer, Head of finova Payment and Mortgage Services , comments:

“Our name has changed, but the high quality of service we provide has continued. As a team, we have worked constantly in the support of brokers, growing case numbers by 133% between 2018 and 2021, and we look forward to carrying this momentum into our new venture as finova Payment and Mortgage Services. We have also increased lending volumes for lenders on our panel by 162% in the same period. It’s a really exciting time, with finova’s wider transformation from DPR Group, and we’re so pleased to be a part of it.”

finova Payment and Mortgage Services member, David Mayne, director at Premier Financial Planning, comments:

“We joined finova Payment and Mortgage Services from one of the UK's largest Mortgage Clubs in August 2020 as it just made sense. The quality of their technology is second to none and the benefits of engaging a single entity for all of our market needs, cannot be over-stated.”

 Fime is the first to be approved by the European Card Payment Cooperation (ECPC) to test and certify payment terminals and SoftPOS solutions in line with the CPA Contactless Extensions (CPACE) specification. Terminal vendors and kernel developers can now confirm the Level 2 functional compliance of their products using Fime’s Eval+ cloud-based test tool and lab services. CPACE provides a foundation of interoperability for the European payment ecosystem, offering a seamless experience for consumers when making contactless payments.

Fime’s extensive portfolio of CPACE services allows players to achieve compliance with multiple schemes quickly and efficiently. This approach helps to reduce costs, mitigate risks and ensure consistency across the ecosystem.

Raphaël Guilley, VP Solutions at Fime comments: “Our unique experience allows us to support the development of CPACE as a common European platform for contactless payment acceptance. By increasing openness and reducing the time needed to develop different technologies, stakeholders can avoid vendor lock-in and focus on enabling innovation. We are proud to be facilitating interoperability in the terminal acceptance ecosystem to drive better user experiences across Europe.”

Powered by Fime Test Factory, Fime’s CPACE testing tool and services provide development teams with 24/7 access to the latest test suite, ensure accelerated time-to-market through automated product testing and facilitate collaboration between distributed teams. Learn more about Fime’s Eval+ testing services here.

 Premialab announced today that Danish pension fund P+ Pensionskassen for Akademikere (P+) will use Premialab Platform and Premialab Pure Factors® to improve their allocation and risk monitoring across fund managers and systematic strategies.

Premialab has recently launched the next generation platform 2.0, including a new portfolio construction module and state of the art look-through dynamic risk dashboards. This latest development brings more intuitive navigation between Premialab Analytics to drive actionable decisions on portfolio optimization and risk monitoring across factors and asset classes.

Andreas Karlsson, heading up the Nordic region at Premialab, said, "with the low interest rate environment, we are seeing an increased focus on alternative sources of return, and believe we are in a unique position to support such efforts."

"Our Board of Directors has recently announced the adoption of a new strategy to set the direction for the pension fund's work in the coming years," said John Hydeskov, Head of Liquid Investments at P+. "As a result, we are looking to increase our allocation to liquid alternatives, and Premialab will support our due diligence on strategies available in the market, monitor current investments, and provide additional transparency into this asset class."

"Our comprehensive universe of strategies and advanced analytics are perfectly positioned to help institutions to improve their allocation across asset classes and investment styles," said Adrien Geliot, CEO at Premialab. "We are delighted to partner with P+, and to add to the growing number of pension funds using our unique industry dataset, proprietary factor insights, and risk analytics to help make better investment decisions."

As we emerge from the pandemic, businesses are still not out of the woods yet. Effects of Brexit are being felt with supply chains and recruitment at breaking point for some sectors. It’s been a tough 18 months for four Bristol-based businesses who all chose to take a positive mindset over the lockdown periods.

Alastair Donnelly, co-owner of Inside Travel Group, a worldwide Asian specialist travel company, had to adjust massively to the challenges of the pandemic.

“Due to the nature of our business, we were receiving early signs of trouble when internet traffic dropped on our site in January of 2020. However, we would never have expected the level of business disruption the pandemic caused. Regular business just stopped and we had to accept that we wouldn’t be operating tours for the foreseeable future.”

Throughout the pandemic, Inside Travel Group worked with local business coach Gary Keating to come out as a stronger business.

“Gary helped us view the pandemic as an opportunity. Since we launched in 2000, we have grown to a multi-national company with offices in America, Australia, and Japan. This growth has been incredible, but it had started to feel like we needed to restructure the business due to its massive development. Applying our learning from Gary’s coaching, we used the lockdown to consolidate everything we have achieved, so no matter where you are in the Inside Travel Group network the same systems and processes are now in place for success. We then built a new website and set about developing exciting new destinations such as South Korea, ready for that bounce-back.”

Co-founder of NOCO Hair, Noel Halligan, saw his award-winning hair salon close overnight, “We were massively impacted - our sector was forced to close, and we were terrified about losing all the ground we had gained in the previous year when we had appointed Gary as our business coach.

“Rather than give up on our dreams, Gary encouraged us to purchase our second premises - a spa and beauty salon in Wells, which is four times the size of our original salon. We committed to establishing ourselves as the leaders in our market, spending lockdown attending seminars with some of the world’s best hairdressers, so when restrictions were lifted, we had built an expert network to collaborate with.”

Manager of kid’s soft play company Little Giggles, Laurie Coventry, took the business in an interesting direction as soon as their premises were allowed to re-open, “We decided to re-utilise the space by securing an alcohol license which we could use for night-time entertainment. The shows have been massively successful, and we’ll continue to use them as part of our revenue stream in the future. Without having the sounding board of a business coach to give us confidence in such a stressful time, I’m not sure we would have emerged from lockdown with a long-lasting business model.”

Sarah Cunliffe, Director of True Freedom Counselling, had just started the move to virtual sessions before COVID-19 hit, “Before I started coaching with Gary, all my business was in person. I love Gary’s radical candour - he told me that if I didn’t pre-empt where my sector was heading by moving online, I would be left behind. He always likes to say that winter is coming, you need to be prepared for when the unforeseeable happens - my goodness was the pandemic one heck of cold blast! As a result, before the pandemic, I’d already started diversifying my business model by moving some of my clients online. This new system ensured that when the restrictions came, I was able to continue working with all my clients with confidence.”

“Our team at ActionCOACH Bristol swore that no business owner would be left behind if they wanted our help over the pandemic. Since March 2020, we’ve gifted 150 hours of business coaching to Bristol’s businesses. To see the immense impact these businesses can now have on the local community is beyond fulfilling.”

 BSO, the global pioneering infrastructure and connectivity provider powering the digital age, announced today it has become an approved international network provider for Brazilian stock exchange B3.

B3 (Brasil, Bolsa, Balcão), headquartered in São Paulo is the largest exchange in Latin America and BSO is now the lowest-latency vendor registered with the exchange and connecting international traders to the Latin American hub. By strengthening its Latin American offering and widening access to the region, BSO is providing international traders with faster, more cost-effective access to one of the world’s most promising financial services market.

The connection is bolstered by BSO’s recent introduction of a direct ultra-low latency connectivity route between Brazil and Europe, in partnership with express optical platform EllaLink. The route, the first direct connectivity route between the regions, cuts latency in half making it easier than ever for institutional traders in Europe to connect to the major Brazilian trading hub. The route also opens up a wider range of possibilities for proprietary trading firms, capital banks, hedge funds and other market participants, across multiple asset classes.

“We are so thrilled to be working with B3 at a strategic level, to put in place ultra-low latency connectivity and infrastructure to help it succeed in its drive to extend its international reach. With our experience in delivering connectivity around the world, BSO is well-placed to help trading participants globally access the B3 exchange and capitalise on the immense opportunities that it offers,” said Michael Ourabah, CEO of BSO.

“B3 is a strong, thriving market and we are especially delighted to be able to help more European traders access it with the lowest latencies available between the two continents, as they seek to discover alpha strategies for achieving the highest returns” said Tony Jones, BSO’s Head of Low Latency. “With this partnership we are now going further establishing direct links between B3 and other exchanges around the world including London, France, Singapore and Turkey.”

“BSO, with all its connectivity capacity and ultra-low latency infrastructure, will help B3 expand its operations with international investors, who, in turn, can access assets available on one of the most important stock exchanges in the world”, says Claudio Jacob, International Business Development Managing Director at B3. “Bolsa do Brasil is committed to providing a necessary experience for its clients and, therefore, understands the need to continue investing to stay ahead in performance, security, scalability and transparency. This partnership further strengthens our range of connectivity products”, reinforces Jacob.