NEWS - ACCOUNTANCY & FINANCE

UK consumers want personalised banking services, research shows

October 10 ,2017 | by Anisa Choudhary

Over 87 per cent of UK consumers agreed or strongly agreed that banking services should be personalised in a new survey from technology and omni-channel solutions company NCR Corporation.

The research surveyed more than 1,000 UK adults aged 16 and over and found that UK consumers have high expectations when it comes to banking services. 94 per cent of those with a bank account agree banking needs to be seamless across all devices and platforms.

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UK consumers trust banks over third-party providers, research finds

October 03 ,2017 | by Anisa Choudhary

Research from management consultant company Accenture has found UK consumers are reluctant to share personal data with third-party providers, creating a major opportunity for banks when it comes to building trust.

The research surveyed over 2,000 consumers and found 69 per cent would not share their banking data with third-party providers such as social media companies, tech businesses or online retailers. 

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Research shows demand for recruits in financial advice sector

September 29 ,2017 | by Anisa Choudhary

Research from life insurance company Prudential has shown a demand for new recruits in the financial advice sector. 70 per cent of survey respondents say they would urge people to pursue a career in financial advice.

The research showed that while financial advisers are optimistic about the growth of the financial advice market, many believe that not enough action is being taken to encourage people to enter the profession.

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Accountancy is one of the highest-paying jobs for students

September 22 ,2017 | by Anisa Choudhary

Accountancy is one of the best-paying student jobs in the UK, according to research from UK jobsite CV-Library.

The research analysed 2,000 part-time jobs across 15 cities and revealed the best-paying roles for students. Construction topped the list with an average hourly rate of £13.58, followed by accountancy with an average hourly rate of £12.34. 

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Index shows increase in demand for accountants in City of London

September 15 ,2017 | by Anisa Choudhary

Demand for accountants in the City of London increased in August, with the number of accountancy roles up by 34 per cent, figures from Robert Walters have shown.

The recruitment company’s City Job Index also showed an increase in demand for temporary staff last month, with the number of temporary accountancy roles up by 22 per cent. 

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Moneyfacts reveals best banks for students and graduates

September 13 ,2017 | by Anisa Choudhary

Moneyfacts has revealed the best banks for students and graduates in its Current Account Star Ratings 2017.

Barclays, Lloyds, and TSB were among the banks rated highly, along with lesser-known names like Investec.

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London remains top international financial centre

September 07 ,2017 | by Anisa Choudhary

London has earned the top spot in The Banker magazine’s annual International Financial Centre (IFC) rankings for 2017.

The city scored higher than 56 other international financial centres and continues to be a leading financial centre after topping the list in 2016. 

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Research reveals hiring trends of financial services businesses

Research from recruitment specialists Campion Willcocks has revealed the hiring trends of businesses in the financial services sector.

The Market Trends and Salaries report covered over 1,600 interim, contract, and permanent change roles in 27 financial service organisations across 20 divisions. They identified the types of professionals that were the most sought-after in the 12 months to June 2017.

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Britain’s newest challenger business bank for SMEs launched

A new challenger business bank for small and medium-sized businesses has launched in Britain.

Initially, Redwood Bank will focus on providing alternative lending services to SMEs in Hertfordshire, Bedfordshire, and Buckinghamshire. It will be Britain’s first challenger business bank with 100 per cent cloud-based infrastructure.

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London-based fintech company to launch new global currency

A London-based financial technology company is to launch a new global currency in the fourth quarter of 2017.

Glint, a start-up company that is regulated by the Financial Conduct Authority, has raised £3.1 million in funding from high-profile investors in the financial services and asset management sectors.

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UK banks offer glimpse into open banking with £5m fund

With open banking to be introduced in 2018, banks have provided a glimpse into what the practice will look like by contributing towards a £5 million prize fund for Nesta’s Open Up Challenge.

Lloyds, Barclays, Royal Bank of Scotland, and Santander are among the banks that have funded the competition, which offers fintech start-ups the opportunity to experiment with open banking.

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Accountancy sector continues to grow, figures show

Figures from the Financial Reporting Council (FRC) have shown that accountancy student numbers have risen to 164,000 in the UK.

There has also been growth in the number of female members and students, with 35 per cent of members now being female.

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Metro Bank tops biggest survey of financial consumers in Britain

Metro Bank has been named Britain’s most trusted financial provider, in the biggest survey of financial consumers in Britain. The survey was carried out by financial advice website Moneywise for the Moneywise Customer Service Awards 2017.

The challenger bank earned the top spot for the second year running, after 50,000 Moneywise readers provided feedback on major banks, insurance companies, and peer-to-peer lenders. 

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Santander moves into private banking sector with new service

June 21 ,2017 | by Hari Sri

Santander has moved into the private banking sector with the launch of a new service for the bank’s high-end clients.

Santander Private will be aimed at customers that have investments and savings of more than £500,000 or a yearly income of more than £250,000.

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Research reveals financial planning trends of millennials

June 06 ,2017 | by Hari Sri

Research from global asset management firm Legg Mason has revealed the financial planning trends of UK millennials, with smartphones being found to be the most popular way of engaging with financial services.

The Global Investment Survey found that over 90 per cent of millennials aged between 18 and 35 use a smartphone to access the internet, compared to 52 per cent of those aged between 53 and 71. However, just 16 per cent of respondents were found to be in favour of technology-led financial planning. 

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Challenger banks leading the way in UK, research shows

Challenger banks are leading the way in the UK, outperforming their high street counterparts in meeting the needs of their customers when it comes to digital payments, innovative services and account connectivity, according to research from financial services technology provider FIS.

The third annual PACE (Performance Against Customer Expectations) study surveyed 1,000 British banking customers, asking them about their banking experiences and how well their provider is meeting their banking needs.

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City of London is a key global hub for fintech companies

The City of London has become a key global hub for fintech companies over the past decade, according to UHY Hacker Young.

Research from the national accountancy group showed significant growth in the City’s economy, making it the strongest in the UK over the past decade.

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Survey shows optimism boost in financial services sector

Businesses in the financial services sector felt more optimistic in the first quarter of 2017 than in the previous quarter, despite uncertainty over Brexit, according to the most recent CBI/PwC Financial Services Survey.

The quarterly report surveyed 98 businesses and found that the level of optimism was varied across sectors, with investment managers, building societies, insurance brokers and life insurers feeling the most optimistic in the first quarter of the year.

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Study reveals banking preferences of UK adults

A study commissioned by Lithium Technologies has revealed the banking preferences of adults in the UK, with over 60 per cent saying that they would prefer to do their banking online than at a physical branch.

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Financial education helps employees cope with life issues, research finds

Financial education in the workplace can help employees to cope with life issues, with 48 per cent believing that it would enable them to save for retirement, according to a report from Capita Employee Benefits.

The Insight report surveyed over 1,800 employees aged 16 or over in the UK and found that over 75 per cent believe that being provided with financial education would enable them to cope with issues such as saving for retirement or saving up for a deposit on a mortgage.

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Fintech investment reaches two-year high in 2017, report shows

Fintech investment between the UK and mainland Europe reached a two-year high in 2017 despite the uncertainties over Brexit, according to a report from professional services and Big Four firm KPMG.

The report showed that fintechs in the UK attracted $226 million in venture capital (VC) funding in the first quarter of the year, up by 28 per cent from $178 million in the fourth quarter of 2016.

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UK investors continuing with plans despite Brexit, research shows

A report from Market Finance Solutions has shown that investors in the UK are forging ahead with their investment plans despite Brexit.

Out of the 1,000 investors who were surveyed, 37 per cent believe that the upcoming Brexit negotiations will provide a good opportunity for short-term investment.

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Research shows increase in asset-based finance to businesses

March 15 ,2017 | by Claire Payne

Research from the Asset Based Finance Association (ABFA) has shown that asset-based finance to businesses in the UK has reached £22.2 billion, up by 13 per cent from £20.6 billion in 2016.

The research identified the key reason behind the rise, with the increase in businesses turning to asset-based finance and supplementing traditional sources of finance to help boost business growth and finance the development of new products being the main driver.

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Accountants were in high demand last year, survey shows

February 27 ,2017 | by Claire Payne

There was a high demand for newly qualified accountants in 2016, according to the UK Salary Guide by specialist recruitment agency Morgan McKinley.

The guide showed that 2016 was a good year for accounting and finance, with strong demand in both sectors, particularly for auditors who were looking to move into the industry.

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Royal Bank of Scotland launches loan service for SMEs

February 16 ,2017 | by Hari Sri

Royal Bank of Scotland (RBS) is to launch a digital site that will offer business loans to small and medium-sized businesses within hours.

The site, which is named “Esme”, was developed by RBS’s in-house innovation lab and is being launched under the NatWest brand.

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