COVID-19: How long must we wait for a cashless society?
Aug05

COVID-19: How long must we wait for a cashless society?

Despite much talk about making the transition to a cashless society, the truth is that the blockchain-enabled payment networks that may help to make it a reality, are still far from ready for mainstream application. Based on convenience and processing speed, they simply cannot compete with traditional banking and credit card networks, which have evolved over many decades. But could the experience of living in a pandemic accelerate...

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New lenders accredited to British Business Bank Coronavirus Business Loan
Aug05

New lenders accredited to British Business Bank Coronavirus Business Loan

Today the British Business Bank has announced that it has approved Allied Irish Bank (GB)/AIB (NI), Investec Bank plc and Mercedes-Benz Financial Services UK Limited for accreditation under the Coronavirus Large Business Interruption Loan Scheme (CLBILS). These three new CLBILS lenders will be able to provide finance to midsized and larger UK businesses with a group turnover of more than £45m (the upper limit for the existing...

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Nucleus Software adds AI chatbot to FinnOne Neo Digital Channel solutions powering contactless lending in the post COVID-19 world
Jul23

Nucleus Software adds AI chatbot to FinnOne Neo Digital Channel solutions powering contactless lending in the post COVID-19 world

Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced the addition of a range of powerful new solutions to its market leading FinnOne Neo digital lending platform. The new channel solutions will help retail lenders offer contactless digital lending across the full loan lifecycle. FinnOne Neo myLoan, an AI powered conversational chatbot, is designed to...

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RBS staff working from home until 2021 – comment and research from OpenText
Jul22

RBS staff working from home until 2021 – comment and research from OpenText

It is increasingly clear that the entire banking ecosystem and the way consumers interact with financial organizations have been shaken to the core as a result of COVID-19. We will look back on this period as a tipping point between the period before COVID-19 and the ‘new normal’ that emerges in the post-coronavirus era. In much of the pre-COVID-19 research conducted by the Digital Banking Report around digital transformation,...

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Open Banking can help kick start lending – Equifax comments
Jul21

Open Banking can help kick start lending – Equifax comments

Robert McKechnie, Open Banking Expert at Equifax UK, underlines the pivotal role of Open Banking amid the COVID-19 crisis: “COVID-19 has had a dramatic effect on many people’s finances, altered consumer behaviour and disrupted working environments. As we navigate a path out of the lockdown, Open Banking has the capacity to support financially vulnerable people, kick start lending and enable the financial services sector to adjust to a...

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How the Global Pandemic has Re-shaped Financial Services
Jul20

How the Global Pandemic has Re-shaped Financial Services

By Joe Norburn, CEO of Recordsure One fifth of financial services employees may never return to work in the office. Many have adapted so well to their new environment that they have been convinced the changes made during the pandemic may be key to moving forward afterwards.  The use of innovative technology has helped managers become incredibly reactive to the latest changes in government regulation. Mass adoption of solutions such as...

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TISA rolls out new generation digital marketplace to connect financial institutions with over 3,600 FinTechs
Jul09

TISA rolls out new generation digital marketplace to connect financial institutions with over 3,600 FinTechs

The Investing and Savings Alliance (TISA), the cross-industry financial services body, today commences the industry-wide rollout of TISAtech, a digital marketplace that brings together financial institutions and FinTechs for greater collaboration and innovation across the Open Finance spectrum. TISAtech will provide a ‘clearing house’ for the financial services industry to help it more effectively address tech-driven transformation...

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Saxo Q3 Outlook: Covid-19 amplifies the unravelling of globalisation
Jul03

Saxo Q3 Outlook: Covid-19 amplifies the unravelling of globalisation

“Over the past three decades, after the end of the Cold War and especially with China’s momentous admission into the WTO in 2001, the world has become ever more connected and integrated through technology and globalisation. However, starting with the Trump presidency – and with a breathtaking acceleration over the space of just a few months thanks to the Covid-19 pandemic – the world is being driven by self-interest, distrust and a...

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The Impact of the Coronavirus Pandemic on Americans Money Saving Habit
Jul02

The Impact of the Coronavirus Pandemic on Americans Money Saving Habit

By John Howard, Coupon Lawn (Original source of the study can be found here.) With the looming clouds of the coronavirus pandemic, differences can be observed. The most popular helpful change is the lockdown measures. During the lockdown, most people expected to save the extra bucks it cost them to travel to work. Others simply hoped to put a tight leash of their spending indulgences and focus on saving. To analyze the effects the...

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China, Covid, Trump and Brexit: Investors’ top concerns for the second half of 2020
Jul02

China, Covid, Trump and Brexit: Investors’ top concerns for the second half of 2020

The China-rest of the world relations, the trajectory of the Covid-19 pandemic, the U.S. election and Brexit are the top concerns for investors for the last six months of 2020. The observations from Nigel Green, CEO and founder of deVere Group, one of the world’s largest independent financial advisory and fintech organisations, come as the world readjusts after arguably the most turbulent six months in more than 70 years. Mr Green...

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Fintech start-up Shaparency launches to enable businesses to go fully digital
Jul01

Fintech start-up Shaparency launches to enable businesses to go fully digital

London-based start-up Shaparency, which has been established in response to the business conditions resulting from Covid-19, today (1st July) announces the launch of its board and shareholder management platform, helping businesses digitise governance and shareholder relations. The platform will increase the efficiency and effectiveness of board and shareholder operations to save time and money and to improve governance and the...

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1 in 3 businesses say customer engagement is their biggest COVID-19 challenge
Jun30

1 in 3 businesses say customer engagement is their biggest COVID-19 challenge

One in three businesses say customer engagement is the biggest challenge they face during COVID-19, with the finance sector among the hardest hit. Since the outbreak of Coronavirus, companies across the globe have had to adapt to new ways of working and the difficulties that come with it. New data from telecommunications provider Esendex reveals customer engagement to be the biggest struggle faced by one in three businesses right now...

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Aire launches Pulse to help lenders spot sudden financial change created by COVID-19
Jun30

Aire launches Pulse to help lenders spot sudden financial change created by COVID-19

Aire, the UK’s fourth FCA-regulated credit reference agency (CRA), has launched a powerful new insight product to help lenders make sense of the post COVID-19 borrowing landscape. Pulse from Aire helps protect credit providers and consumers from bad debt, and supports fair and FCA-compliant account handling, by enabling lenders to collect up-to-date information from customers about their changing financial circumstances. Pulse allows...

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Comviva introduces innovative Mobile Recharge App for Telecom Operators to increase their distribution network during COVID-19 Pandemic
Jun30

Comviva introduces innovative Mobile Recharge App for Telecom Operators to increase their distribution network during COVID-19 Pandemic

Comviva, the global leader in providing mobility and digital solutions, has launched the PreTUPS™ Direct Selling Agent application. This mobile application enables subscribers to recharge the prepaid mobile connections of other subscribers and earn incentives or cashbacks. The Direct Selling Agent application is the latest feature of PreTUPS™, one of the world’s largest electronic recharge and voucher management platforms, which has...

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Entersekt offers guidance on securing the mobile channel amidst FBI cautions
Jun29

Entersekt offers guidance on securing the mobile channel amidst FBI cautions

Entersekt, a global specialist in digital security solutions, today released its updated guidance for financial institutions, Securing the Mobile Banking Channel, a white paper. This follows the FBI warning that an increase in attacks on banking applications by cybercriminals and fraudsters is likely, as consumers stuck at home during the COVID-19 pandemic rely more heavily on these platforms. And with recent research pointing to a...

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Pascal Welcomes Marksman Asset Management to its Wealthtech Platform
Jun26

Pascal Welcomes Marksman Asset Management to its Wealthtech Platform

Pascal Financial today announced Marksman Asset Management, an Ontario-based Portfolio Manager, has launched on their SaaS wealthtech platform. Markman’s adoption of Pascal’s fully integrated, AI-powered digital wealthtech platform reflects Pascal’s growing presence in the Canadian wealth management sector and is the latest in a series of major announcements the company has made over the first two quarters of 2020. Pascal’s intuitive...

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Leave Nobody in the Dark
Jun25

Leave Nobody in the Dark

Mastercard has joined up with Good Things Foundation, The Joseph Rowntree Foundation, The APLE Collective, Clean Slate Training & Employment CIC to form a coalition of partners to offer immediate support to digitally and financially excluded people in the UK, with a focus on those in poverty hit hardest by the impact of COVID-19. Digital inequality has for some time risked exacerbating poverty and reducing financial wellbeing....

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ClearScore data reveals how COVID-19 payment holiday schemes have safeguarded credit scores against 124 drop
Jun25

ClearScore data reveals how COVID-19 payment holiday schemes have safeguarded credit scores against 124 drop

ClearScore, the UK’s leading free credit score and credit marketplace, today reveals the true extent of some of the long-term benefits of extending payment holiday schemes until October through analysis of their 9 million UK users. Put in place to support consumers, those taking advantage of payment holidays on loans, credit cards and mortgages could have faced an average drop of 104 points to their credit scores over the next three...

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TSB sees digital banking registration surge and increased online confidence since Covid-19
Jun24

TSB sees digital banking registration surge and increased online confidence since Covid-19

TSB has seen a surge in demand from customers using its mobile app and online banking following the outbreak of Covid-19. Since lockdown started on 23rd March, TSB’s own data shows that the average number of customers registering for the mobile app has nearly trebled from just over 1,270 to almost 3,480 every day, reaching over 4,000 on some days. Enrolments for internet banking have risen by 137% over the same period.   Research into...

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COVID-19 driving half of borrowers to high cost credit
Jun24

COVID-19 driving half of borrowers to high cost credit

People have borrowed an average of £1,719 to cope with the impact of Covid-19. 86% of those who have already borrowed expect that they will continue to do so. Credit Kudos’ inaugural Borrowing Index reveals that 51% of borrowers have had to turn to high-cost credit, such as payday loans. Credit Kudos is a challenger credit reference agency that draws on the Open Banking environment to challenge the incumbent credit reference sector...

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COVID-19 prompts biggest peak in money transfers since records began for many digital providers
Jun23

COVID-19 prompts biggest peak in money transfers since records began for many digital providers

In April this year, The World Bank predicted the sharpest decline of remittances in recent history. They projected that global remittances were to decline by almost 20% in 2020 due to the economic crisis induced by the COVID-19 pandemic and lockdown measures emplaced by countries around the world. We’ve seen the biggest drop in activity since the great depression, which is why such a prediction from the World Bank should not come as a...

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60% of industry professionals believe the startup ecosystem’s recovery from Covid-19 will take a year or more
Jun23

60% of industry professionals believe the startup ecosystem’s recovery from Covid-19 will take a year or more

The startup ecosystem will take a year or more to fully recover from the impact of the Covid-19 pandemic, with economic and political risk representing the biggest barrier to innovation in that time, according to new data from Kamet Ventures. Six out of 10 industry professionals (60 per cent) surveyed by Kamet Ventures believe it will be 12 months or longer before the startup ecosystem recovers to its pre-Covid level of activity and...

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10 Million Asia Pacific Small Businesses to Participate in Visa’s Global Program to Spur Recovery Through Digital Commerce
Jun23

10 Million Asia Pacific Small Businesses to Participate in Visa’s Global Program to Spur Recovery Through Digital Commerce

Visa today announced a commitment to support 10 million small businesses across Asia Pacific in an effort to get local communities back to business in the wake of the COVID-19 pandemic. Visa is introducing a range of programs and solutions to help small and medium enterprises (SMEs) drive efficiency and sales by accepting and making payments digitally to meet increased demand for cashless payments – both online and in-store. Visa also...

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FICO discusses the delay of Secure Customer Authentication deadline due to Covid-19
Jun22

FICO discusses the delay of Secure Customer Authentication deadline due to Covid-19

Sarah Rutherford, Identity Solutions Expert, FICO discusses the impact of the delay of the Secure Customer Authentication (SCA) deadline due to COVID-19 “It’s ironic that COVID-19 is being used as a reason to delay SCA given that it is has also increased ecommerce transactions and caused many people who were not previous online shoppers to start using ecommerce. Many of the users pushed to use e-commerce by current circumstance will...

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Finance and insurance sector struggles with declining interest in credit and insurance
Jun18

Finance and insurance sector struggles with declining interest in credit and insurance

  COVID-19 has hit every industry in varying degrees of severity, for the finance industries, historical turbulence has sheltered them from any immediate harm. However, as the world starts barrelling towards a recession consumer interest in the industry is high. A new report from Reply, looks into how consumers have reacted to COVID-19 through analysis of online behaviour, some key findings showing how this has changed compared...

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