NEWS - ACCOUNTANCY & FINANCE

Data shows increase in demand for alternative finance services

December 13 ,2017 | by Anisa Choudhary

Data from the Cambridge Centre for Alternative Finance has shown an increase in demand for alternative finance services in the UK.

The figures showed growth across the UK’s alternative finance market, including crowdfunding, invoice trading, and marketplace lending. The date found a year-on-year rise of 43 per cent in 2016 from £3.2 billion to £4.58 billion.

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Financial services companies bringing jobs back to UK

December 12 ,2017 | by Erin O’Neill

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.

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Research shows demand for banking marketplace among UK consumers

December 08 ,2017 | by Anisa Choudhary

A report from Travelex Currency Solutions has found nearly 60 per cent of UK consumers want access to a banking marketplace to enable them to manage multiple accounts more easily.

The study surveyed 1,000 UK consumers and found that the number of money-related accounts has increased, with more consumers choosing to open accounts with fintech companies and challenger banks.

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Financial firms to continue hiring despite Brexit

December 04 ,2017 | by Anisa Choudhary

Research from recruitment company Hays has shown two-thirds of financial firms will go ahead with their recruitment plans in 2018, despite Brexit.

The research surveyed more than 900 UK employees and employers from the banking and finance sectors.

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Digitisation of traditional banks drives opportunities for finance brokers

December 01 ,2017 | by Anisa Choudhary

Emerging banking technology is creating opportunities for finance brokers, according to asset finance company Copernicus.

The company said finance brokerages in the UK can offer personalised services by investing in better technology.

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Urgent need for improved financial advice for UK adults

November 29 ,2017 | by Erin O’Neill

Research conducted for the Nottingham Building Society has shown that UK adults need more access to financial advice on how to save their money, with more than 20 per cent believing that they are not saving enough.

The research surveyed more than 1,000 adults aged 18 and over and found that young people are the most affected, with 30 per cent of under 35s believing that they are not saving enough as a result of not having enough access to financial advice, compared to just 12 per cent of adults aged over 55.

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Report shows increase in consultant spending among banks

November 28 ,2017 | by Anisa Choudhary

A report from research and strategy firm Source Global Research has shown banks increased spending on consultants in 2016, with a growth of 8.4 per cent globally.

The Financial Services Consulting Market 2017 showed spending increased to £10.2 billion. Spending was up by 8.3 per cent in the global financial services industry, with the UK, US, and DACH being the biggest spenders.

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Financial services firms publish collaboration guide for fintech businesses

November 22 ,2017 | by Anisa Choudhary

A new guide has been published to show how the collaboration of fintech firms and banks could help improve the financial services industry and strengthen the UK’s position as a global fintech leader. 

The guide, entitled Transformation and innovation: a guide to partnerships between financial services institutions and finTechs.

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ICAEW to help accountants become personal finance directors

November 20 ,2017 | by Erin O’Neill

The ICAEW is to launch a new initiative that will provide chartered accountants with the opportunity to become personal finance directors.

The initiative will consist of an online community that will offer access to all areas of financial planning to help chartered accountants boost their knowledge and place them in a position where they are able to offer financial support to SME owners and managers.

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Accountancy jobs rise as businesses search for professionals

November 16 ,2017 | by Anisa Choudhary

The number of accountancy jobs has increased as businesses search for professionals to fill roles in the sector, according to a survey from recruitment consultant Robert Walters.

The survey showed that demand for accountancy professionals has remained strong throughout 2017, with the number of job roles in the UK rising by 15 per cent in the third quarter of the year.

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Metro Bank to open new store in London

November 08 ,2017 | by Helen Gould

As part of their expansion plan, Metro Bank is opening a new branch in Liverpool Street, London.

This will be the company’s 52nd store, with 12 more planned to open next year.

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Financial service providers need to boost customer experience

November 07 ,2017 | by Erin O’Neill

Research commissioned by customer engagement solutions company Engage Hub has shown that financial service providers need to place more focus on customers.

The survey of 2,500 UK consumers explored the relationship between customers and financial service providers and found that more than 30 per cent of consumers believe that providers do not take customer experience seriously.

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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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