Posted By Erin O’Neill
A study commissioned by digital banking solutions provider CREALOGIX Group has highlighted the need for more information on the Open Banking initiative for consumers.
The research surveyed 2,000 consumers and found that more than 85% have not heard of or are unsure of what Open Banking is, suggesting that banks need to educate their consumers about the initiative.Read more >>
Several initiatives have recently been launched by the Professional services and Big Four firm PwC to help SMEs raise funding and boost their growth.
The service, which is called Raise Investment, will target businesses with an annual turnover of more than £1 million that are looking to raise £1 million to £10 million in funding.Read more >>
A report from the Association of Chartered Certified Accountants (ACCA) has shown that job satisfaction is higher in large accountancy firms, with 48 per cent of young finance professionals working in a large company saying that they are happy in their job role.
The report, entitled Generation Next: managing talent in large accountancy firms, surveyed 19,000 ACCA members and students aged 16 to 36, with particular focus on young finance professionals working for a large accountancy firm globally, such as one of the Big Four firms or a mid-tier company.Read more >>
Financial services firms are being urged to focus on security after figures from the Financial Conduct Authority (FCA) showed that cyber-attacks on firms in the sector increased by more than 80 per cent in 2017.
Speaking at the PIMFA Financial Crime Conference in London, FCA Head of Technology, Resilience and Cyber Robin Jones discussed the areas in which financial services firms need to boost security, with firms being urged to place more focus on staff training and raising awareness.Read more >>
Morgan McKinley’s 2018 Salary Guide has shown that demand for niche skills and specialist knowledge was strong in the accounting and finance sectors in 2017.
The recruitment consultancy’s guide also identified a number of key trends, including increases in salaries for newly qualified individuals working in finance in areas such as London.Read more >>
Mastercard has set a challenge for banking providers by requiring them to offer biometric authentication by the spring of next year.Read more >>
The immediate future of the global economy looks good, according to the latest report from the International Monetary Fund (IMF).
The IMF has found that the recent upturn in international trade is led by growth in Europe and Asia.Read more >>
Financial technology start-up Curve is to disrupt the conventional banking system with the launch of its payment-switching card.
The service, which was previously a beta version that was only available to the start-up’s business users, has now been launched to 50,000 members across the UK.Read more >>
A survey commissioned by global business analytics firm Dun & Bradstreet and the Small Business Research Centre has found that SMEs are feeling confident about their future despite uncertainties over Brexit.
The research surveyed 505 managers and found that 54 per cent are feeling confident about their future success, whilst 75 per cent are confident that they will achieve financial growth over the next five years.Read more >>
British banks could help to boost the UK’s productivity growth, according to Bank of England Monetary Policy Committee (MPC) member Silvana Tenreyro.
Delivering her first public speech as an MPC member, Tenreyro said that she believes UK banks have almost recovered from the financial crisis ten years ago, which could lead to a rise in UK productivity as the finance industry’s performance starts to improve.Read more >>
A London-based banking app has received approval from the Financial Conduct Authority (FCA) to enable it to provide payment services.
Emma Technologies, which is aimed at millennials, is a mobile-only app that aims to improve the financial wellbeing of its consumers by helping them to save money, track debt and avoid overdrafts.Read more >>
A survey from the Institute of Student Employers (ISE) has found that graduate jobs are set to rise across a number of sectors in 2018, with employers expecting to boost their number of graduate job vacancies by 11 per cent.
The annual Student Recruitment Pulse survey asked 103 UK student employers about their hiring intentions for the year ahead and found that the graduate jobs market will be returning to double-digit growth for the first time since 2015.Read more >>
Research from Swiss investment bank UBS has shown that online banking is now becoming a global trend, with more than half of transactions being done digitally.
The study surveyed 24,000 customers in 19 countries and found that 52 per cent of transactions are now carried out online, up from 33 per cent two years ago.Read more >>
Research from salary benchmarking website Emolument has revealed which front office finance careers offer the best pay and work-life balance.
The study surveyed a selection of front office bankers aged between 25 and 40 to find out how satisfied they are with their job and compared this with how much they earn to identify the most rewarding front office finance careers.Read more >>
The latest IHS Markit/REC Report on jobs has shown that demand for permanent finance workers and accountants increased in December.
The report also showed that the number of permanent staff placements increased at the fastest rate since August at the end of last year, with agencies reporting strong demand for staff in these sectors.Read more >>
The latest Business in Britain report from Lloyds Bank has shown that business confidence in London has reached its highest level since 2016.
The report surveyed more than 1,500 businesses on their expected sales, orders and profits over the next six months and found that business confidence has risen to 25 per cent, an improvement on figures from July 2017 and after the EU referendum in 2016, when business confidence stood at 20 per cent and just 4 per cent respectively.Read more >>
Figures compiled by Pitchbook for London & Partners show that the UK’s fintech sector led the way for VC investment in 2017, attracting a record £1.34 billion in funding.
Fintech start-ups in London were the main driver of the record figure, accounting for more than 90 per cent of all funding raised by the UK’s financial technology companies last year.Read more >>
Research from financial advice website Moneywise has revealed the top financial goals of its users for 2018.
The website provided its users with 13 financial goals to find out which ones they would be making a priority in the New Year.Read more >>
Research commissioned by digital workplace provider Invotra has found that 85 per cent of senior managers in the financial services industry consider data and security systems to be their top priority after sophisticated cyber-attacks were revealed to be their biggest fear for 2018.
The survey of 504 senior managers found that despite cyber-attacks being a top concern in the financial sector, confidence is at a high amongst financial services professionals, with 94 per cent believing that they are well-equipped to defend against attacks.Read more >>
Research from recruitment company Hays has revealed which workers are expected to be the most in demand in 2018.
The research surveyed 17,500 employers and workers and identified the sectors that are likely to need candidates that are suitably qualified and experienced in the New Year, with accountants, payroll team leaders and computer security staff being amongst the most in demand.Read more >>
Research from specialist PR firm for the recruitment industry ClearlyPR has shown that the number of start-ups in the recruitment industry in 2017 has reached a record high.
The figures, which were obtained under a Freedom of Information Request from Companies House, showed that 9,001 recruitment agencies have been started since January 2017, bringing the total number of agencies now trading in the UK to a record high of 35,275.Read more >>
Research from investment management company Legg Mason has found that nearly half of millennials in the UK want to set up their own business.
The company’s fifth annual Global Investment Survey explored the views of 15,300 people and found that more millennials in the UK are setting the goal of starting up their own company.Read more >>
Companies in the financial services sector are bringing jobs back to the UK as offshore regions face rising prices and skills shortages, according to research from recruitment company Robert Half Financial Services.
The research showed an increase in the level of onshoring amongst financial services executives, with 59 per cent of businesses transferring their offshored business operations back to the UK, which could result in a jobs boost in the financial services sector.Read more >>
Research commissioned by data management vendor Relay 42 has shown that digital-only banks are becoming increasingly popular with Brits, with 27 per cent having already moved to a mobile-only bank and 26 per cent considering doing so.
The study surveyed over 2,000 Brits and identified the main reasons for respondents choosing to switch to digital-only banks, with more than half citing a better online experience and functionality.Read more >>
A new survey from the Institute of Directors (IoD) has shown that UK entrepreneurs are feeling confident, with those who run young companies feeling more positive than those running established companies.
The research surveyed 628 members from entrepreneur group IoD99 and found that 83 per cent of entrepreneurs are feeling optimistic about their business prospects over the next year, compared to just 56 per cent of businesses in the IoD overall membership, who were surveyed in separate research.Read more >>