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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.