NEWS - ACCOUNTANCY & FINANCE
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.
Read more >>
Statistics from the Department for Business, Energy and Industrial Strategy (BEIS) have shown an increase in the number of women in senior positions in the UK’s largest companies.
The data, which coincides with International Women’s Day, showed that women now make up nearly 29% of FTSE 100 board positions, an improvement on 2011’s figure of 12.5%.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 >>
Research from the British Business Bank has shown small businesses in the UK are turning to alternative sources to obtain finance.
The 2018 Small Business Finance Markets report showed growth in equity and alternative finance, with the value of SME asset finance deals increasing by 17 per cent last year and peer-to-peer business lending and SME equity deals up by 51 per cent and 12 per cent respectively.Read more >>
Figures from Global Accounting Network have shown more than half of FTSE 100 CEOs are finance professionals.
The finance recruitment agency carried out an analysis of bosses from each FTSE 100 company and found nearly a fifth have an accountancy qualification.Read more >>
Research from CV-Library has revealed how workplace relationships affect those working in an accountancy role.
The research surveyed 1,200 professionals and found 77 per cent of accountants believe their workplace relationships have had a positive impact on their personal life.Read more >>
The financial services sector can do more to meet customer demand by upgrading recruitment practices, according to a report into customer satisfaction.
The survey, which was carried out by consultancy Oliver Wyman, surveyed 4,000 customers across the UK, US, France, and Australia, along with a US mass-market focus digital group of 100 customers.Read more >>
The accountancy sector has been given a boost during the last 12 months thanks to a significant upturn in demand for interim specialists, reported by recruitment professionals.
According to Global Accounting Network, the demand for fully qualified accountants to work on a short-term or contract basis within the commercial and industrial sectors in the UK increased by 44 per cent in the year to November 2017.Read more >>
Figures from finance recruitment agency Global Accounting Network have shown that more businesses are seeking out interim accounting professionals.
Market analysis from the agency showed demand for qualified accountants to work temporarily, on a contract-to-contract basis, increased with a year-on-year rise of 44 per cent.Read more >>
Figures from finance and banking trade association UK Finance have shown invoice financing has reached a record high of more than £22 billion.
The figures showed an increase in invoice finance to businesses in the third quarter of 2017, with a year-on-year rise of 13 per cent.Read more >>
A report from the London Assembly has called for the creation of a banking charter to ensure all young people in London have a bank account.
The report, entitled Short Changed: The Financial Health of Londoners, focuses on financial inclusion and offers recommendations to help Londoners get more access to high-quality, affordable financial services.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 from Close Brothers and the Pensions and Lifetime Savings Association (PLSA) has found that millennial workers are saving more money than other generations.
The Lifetime Savings Challenge Report 2017 found that millennials working for companies with over 200 employees are saving an average of nearly £400 more per year in non-pension savings than Generation X workers.Read more >>
London-based challenger bank Metro Bank has launched a new payment function on its mobile banking app.
The function has been designed to provide the bank’s customers with more choices when managing their payments through the bank’s app, at the store, online or via phone.Read more >>
Research from management consultant company Accenture has shown that retailers are eyeing the potential benefits of Open Banking.
The study surveyed nearly 80 payments executives from large retail companies to find out how they are planning to respond to the Revised Payments Services Directive, which is set to be introduced in January 2018.Read more >>
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.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 >>
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.Read more >>
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.Read more >>
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.Read more >>