NEWS
Banks, Big Four firm make UK’s most valuable brands list
Brand valuation consultancy Brand Finance has revealed the most valuable brands in the UK, with several banks making the list.
The report revealed the value of each brand, showing that despite worries over the vote for the UK to exit the EU, businesses in the UK are responding well to the challenges of Brexit.
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Report urges UK finance firms to fight cybercrime
A report from professional services and Big Four firm KPMG and industry body UK Finance has urged finance firms in the UK to work together to fight cybercrime.
The report stated that a revamped approach is needed as cybercrime becomes a growing threat to the financial sector.
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Everywoman launches UK search for leading female entrepreneurs
Everywoman, an organisation that celebrates the advancement of women in business, has launched its annual competition to find the UK’s leading female business owners.
The NatWest everywoman Awards celebrate the achievements of female business leaders, seeking out those who are making an economic impact and helping to inspire others.
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Banks are most trusted institution amongst millennials
A study from short-term loans company Satsuma has shown that millennials place the most trust in banks when it comes to the protection of their personal information.
The survey looked at the online habits of 1,000 millennials and found that the majority of adults aged between 18 and 34 trust their banks to keep their personal information safe and private.
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More awareness of Open Banking benefits needed
Research from fintech firm Crealogix Group has shown that consumers need to be provided with more information on the benefits of Open Banking.
The study surveyed 2,000 UK consumers and identified some of the barriers that Open Banking will need to address in order for the initiative to be adopted on a wide scale.
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London businesses most optimistic in UK, report shows
The latest Lloyds Bank Business Barometer has shown that businesses in London are the most optimistic in the UK, with positivity standing at 42% compared to the UK average of 33%.
Businesses in the city are also feeling positive about exporting, with more than half of respondents planning to export or enter a new market over the next six months.
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Financial services sector upbeat about growth prospects, study shows
Research from Lloyds Banking Group has shown that financial services leaders are feeling positive about the sector’s future, with the majority believing that the UK will continue to be Europe’s leading financial hub after Brexit.
The study also revealed that, despite optimism in the sector, Brexit is still seen as the biggest risk, with 55% saying that they are worried about the effect that it will have on growth.
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Professional Advisor launches Women in Financial Advice awards
Investment and retail finance news magazine Professional Advisor has launched the Women in Finance Awards for 2018.
The awards, which are backed by the Chartered Insurance Institute and Personal Finance Society, celebrate the achievements of women working in the financial advice sector, as well as those working in the UK’s broader financial services sector.
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Bank of England to protect financial firms with new cyber standards
The Bank of England (BoE) has announced plans to introduce new cyber standards to help boost protection from cybersecurity attacks amongst financial services firms.
The new standards will be published by UK financial services regulatory body the Prudential Regulation Authority (PRA), which is led by BoE Deputy Governor Sam Woods.
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London SMEs most aware of alternative financing options
Research from peer-to-peer business lender Growth Street has shown that small and medium-sized enterprises in London are leading the way when it comes to awareness of the alternative financing options that are available to them.
The study surveyed 1,000 SMEs across the UK, exploring their views on business finance and exporting, and revealed that more than half of London-based respondents believe that there is enough guidance available to businesses that wish to export, compared to 36% of businesses across the rest of the UK.
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Asia Pacific businesses creating opportunities for UK firms
A study from PwC has shown that more than 40 per cent of Asia Pacific businesses are looking for new mergers and acquisitions, creating opportunities for businesses in the UK that are looking to expand their business overseas.
The professional services and Big Four firm is urging businesses in the Asia Pacific region to invest in UK businesses as part of its support for GREAT, a campaign run by Britain’s Department for International Trade that aims to help overseas businesses boost their growth in the UK.
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London remains top for graduates seeking careers in finance
Research carried out by Dartmouth Partners has shown that London remains the most attractive location for graduates who want to pursue a career in finance.
The recruitment firm’s “Gen Z Hiring Report” surveyed 600 people applying for jobs in financial services and found that London is the top spot for recent and future graduates, with 84 per cent of respondents citing the city as the place where they most want to work.
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Finance industry launches Action Plan to promote banking services
The finance industry has launched an Action Plan to help raise awareness of everyday banking services at thousands of Post Office branches across the UK.
The plan, which was developed in partnership with the Post Office and HM Treasury and is set to be put into action in the third quarter of 2018, will be beneficial to customers living in rural or urban areas who have limited access to bank branches.
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Finance SMEs optimistic about economic prospects, study shows
A report from Hampshire Trust Bank has shown that more than 50 per cent of UK SMEs are feeling optimistic about the long-term economic prospects of their industry, with finance and accountancy firms being amongst the sectors that are feeling the most positive.
The specialist bank’s SME Growth Watch highlighted the importance of business confidence when it comes to economic growth, with 56 per cent of finance and accounting businesses feeling optimistic about their long-term economic prospects.
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London remains world leader for global financial services
A report from Z/Yen has shown that London continues to be the world’s leading financial services centre.
The city earned the top spot in the think tank’s 23rd edition of its global financial centres index, which analysed 110 cities and ranked them using data from the World Bank, the United Nations and the OECD.
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Job switching proof of economic recovery in the UK
The increase in the number of people switching jobs is proof that the UK economy is recovering, according to Bank of England officials.
Nearly 900,000 people switched jobs between October and December last year, the highest number of people since 2004.
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Britons believe that big banks should acquire fintech
A study from insight research company Strive has shown that more than 50 per cent of the British public believe that big banks should acquire fintech.
The study surveyed more than 1,000 people, exploring their views on how the finance industry should incorporate technology innovation, and found that 13 per cent believe that it should be done through big tech companies such as Google, whilst 28 per cent said that it should be done through expansion of online-only banks.
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Fintech firms embracing Open Banking
A report from professional services and Big Four firm EY has shown that fintech businesses in the UK are embracing Open Banking, with 59% seeing the initiative as an opportunity to reconsider their collaborations.
The study, which surveyed more than 30 UK fintech businesses, found that more than 80% of businesses are getting ready for Open Banking, whilst 29% said that they are fully prepared for the initiative.
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ONS figures show rise in UK employment rate
Data from the Office for National Statistics (ONS) has shown that the number of people in employment in the UK increased between August to October 2017 and November 2017 to January 2018.
The latest Labour Force Survey showed that the employment rate reached a record high of 75.3%, up from 74.6% a year earlier.
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Accountants and recruiters share similar views on looking professional
Research from CV-Library has shown that accountants and recruiters share similar views when it comes to looking professional for a potential job role.
The study surveyed 1,100 employees and more than 200 recruitment professionals to find out their views on posting information on social media and how this affects an employer’s view of potential employees.
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Mayor calls for London to promote women into senior roles
Mayor of London Sadiq Khan has called for more to be done in London to help promote more women into senior roles.
The comments come after the Mayor published the Greater London Authority (GLA) Group’s gender pay data, which revealed a gender pay gap at several organisations in the city, including City Hall.
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Philip Hammond to launch UK fintech strategy
Later this week, Chancellor Philip Hammond is to reveal a new fintech strategy to support the UK’s fintech industry.
The plan is set to be announced on Thursday this week at an international conference, with the Chancellor expected to discuss how the UK’s involvement in the digital economy can be improved.
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More SMEs planning to apply for finance, research shows
A study from market research agency BDRC has shown that the number of SMEs planning to apply for finance increased in 2017, rising from 10% in the first quarter to 14% in the last three months of the year.
The company’s SME Finance Monitor surveyed 132,000 businesses and also found that more SMEs are becoming aware of peer-to-peer (P2P) lending, with more than 30% being aware of this type of finance in the final quarter of 2017.
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LHV Bank launches London branch to serve UK fintech industry
Estonian banking and financial services company LHV Bank is to open a branch in London to service the UK’s financial technology industry.
The bank will use the branch to engage with London fintechs and provide services for financial intermediaries.
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Experienced bankers are moving into alternative finance sector
Experienced bankers are moving into the alternative finance sector, creating an ideal environment for SMEs seeking finance, according to alternative finance provider ThinCats.
The peer-to-peer lending company discussed the trends that have taken place in the banking sector over the past decade, with the main change being the loss of high street branches as banks shift to digital services.
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