NEWS - ACCOUNTANCY & FINANCE
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
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.Read more >>
Santander has moved into the private banking sector with the launch of a new service for the bank’s high-end clients.
Santander Private will be aimed at customers that have investments and savings of more than £500,000 or a yearly income of more than £250,000.Read more >>
Research from global asset management firm Legg Mason has revealed the financial planning trends of UK millennials, with smartphones being found to be the most popular way of engaging with financial services.
The Global Investment Survey found that over 90 per cent of millennials aged between 18 and 35 use a smartphone to access the internet, compared to 52 per cent of those aged between 53 and 71. However, just 16 per cent of respondents were found to be in favour of technology-led financial planning.Read more >>
Challenger banks are leading the way in the UK, outperforming their high street counterparts in meeting the needs of their customers when it comes to digital payments, innovative services and account connectivity, according to research from financial services technology provider FIS.
The third annual PACE (Performance Against Customer Expectations) study surveyed 1,000 British banking customers, asking them about their banking experiences and how well their provider is meeting their banking needs.Read more >>
The City of London has become a key global hub for fintech companies over the past decade, according to UHY Hacker Young.
Research from the national accountancy group showed significant growth in the City’s economy, making it the strongest in the UK over the past decade.Read more >>
Businesses in the financial services sector felt more optimistic in the first quarter of 2017 than in the previous quarter, despite uncertainty over Brexit, according to the most recent CBI/PwC Financial Services Survey.
The quarterly report surveyed 98 businesses and found that the level of optimism was varied across sectors, with investment managers, building societies, insurance brokers and life insurers feeling the most optimistic in the first quarter of the year.Read more >>