Posted By LSBF Blog Staff
The Chartered Institute of Management Accountants (CIMA) has decided to enter into an agreement with the Institute of Chartered Accountants of Nigeria (ICAN) in regards to the establishment of a new academic research centre for accountants that would be able to contribute to the various economies on the continent and deliver high-quality work.
ICAN’s President Ismail Zakari stated on Monday at the Memorandum of Understanding signing in Abuja that the two bodies have already been in discussion regarding areas in which they can cooperate, including reciprocal collaboration that would allow members of CIMA to become members of ICAN and vice versa.Read more >>
A report from UK banking and financial services trade association UK Finance and Big Four accountancy firm EY has shown that consumers in Britain are embracing fintech, with more people using new technology to interact with their bank.
The study showed that more UK consumers are using mobile banking, with the number of log-ins from mobile apps hitting 5.5 billion in 2017, up by 13% from the previous year.Read more >>
UK financial regulatory body UK Finance has urged banks to use new technologies, such as artificial intelligence and machine learning, to fight cybercrime.
Discussing the issue in a speech at the FCA’s Cross-Border Anti-Money Laundering TechSprint, the regulatory body’s executive director of supervision - investment, wholesale and specialist, Megan Butler, stated that technology is crucial to the protection of institutions when it comes to financial crime.Read more >>
A report from accountancy, tax and investment firm Smith & Williamson has shown an increase in the number of scale-up businesses in the UK.
The study, entitled Dream bigger: the scale-up moment, found that young entrepreneurs are the main driver of growth in scale-up businesses, with more than 40% of these businesses being founded by people aged 34 and under.Read more >>
A report from banking and financial services sector trade association UK Finance and management consultancy Parker Fitzgerald has highlighted the importance of financial services firms making operational resilience a priority as they adopt new technologies.
According to the study, the speed at which technology is advancing is creating new non-financial risks in the financial services sector and so businesses need to address these risks in order to protect themselves from new threats.Read more >>
A report from UK financial and related professional services membership body TheCityUK and Big Four accountancy firm EY has highlighted the importance of attracting and retaining talented workers after Brexit.
The report, which was previously a draft version but has now been released in full, includes a number of recommendations to help protect London’s status as a financial centre after the UK has exited the EU, including an improved immigration system.
Read more >>
A report from industry analyst CACI has predicted that more consumers will be banking via a mobile app instead of from a computer by 2019.
The study showed that more than 20 million people used a mobile phone to manage their account in 2017 and predicts that 35 million adults in the UK will be banking via a mobile by 2023.Read more >>
A survey from global professional services firm Genpact has shown that customers want access to both new technologies and personal services from traditional banks.
The study surveyed 6,000 people globally, including 2,029 UK-based banking customers, and found that while more than one in four would be comfortable with using technologies, such as digital assistants, to open an account, more than 50% believe that opening an account is easier when done face to face at a bank branch.Read more >>
Britain’s global banks are calling for a special UK visa waiver for workers after the UK exits the EU to help protect the City of London’s status as a leading financial centre.
The suggestion is one of the key recommendations in a report from UK financial and related professional services membership body TheCityUK and Big Four accountancy firm EY.
Read more >>
Spanish bank Santander is to create a standalone digital bank in the UK to help more SMEs to achieve success and give the bank a bigger online presence.
The move comes after Royal Bank of Scotland announced that it would be launching a separate brand, with both banks looking to compete with the digital services offered by fintech start-up companies such as Tandem Money and Monzo.Read more >>
A study from private investment platform Capitama has shown that fintech is now the most popular sector when it comes to investment, with 70% of high-net-worth and professional investors looking to invest in fintech opportunities.
The research also showed that more than 65% of high-net-worth and professional investors are interested in software and technology deals.Read more >>
The Institute of Chartered Accountants in England and Wales (ICAEW) has issued a checklist to help accountants follow the General Data Protection Regulations (GDPR).
All European Economic Area (EEA) countries and those who trade with them, including accountants and accountancy firms, will be required to comply with GDPR, which will be put into action on 25th May 2018.Read more >>
HSBC has become the first big bank in the UK to launch an Open Banking app after more than six months of testing a beta version.
The app, which is called Connected Money, follows PSD2 and Open Banking regulations, which require banks to provide third parties with access to consumers’ financial data with their permission.Read more >>
Research from UK and offshore company formation agents Turner Little has revealed the top priorities of global banks in 2018.
The company analysed the “Global Banking Outlook 2018” report from professional services and Big Four firm EY, which surveyed 221 financial institutions across 29 markets and found that bankers are feeling positive about boosting their financial performance this year.Read more >>
The latest Business Confidence Monitor (BCM) from the Institute of Chartered Accountants in England and Wales (ICAEW) has shown that business confidence in the UK has reached its highest level in two years.
The BCM surveyed more than 1,000 chartered accountants between January and April 2018 and found that confidence increased to 7 points in the second quarter of the year, up from -1 in the first quarter, whilst optimism amongst companies that are exporting also increased.Read more >>
A new study from management consulting firm Accenture has shown that trust in UK banks has reached its highest level since 2012.
The company’s UK Financial Services Customer survey 2018 surveyed more than 4,500 people in the UK who use banking, wealth management and insurance services and found that consumer trust in banks has increased over the past couple of years, rising by 11%.Read more >>
A study from money management app Yolt has shown that more consumers in the UK are using financial apps to help them keep control of their finances.
The research showed that 70% of UK consumers are now using financial apps, up from nearly 40% in 2016.Read more >>
British Business Bank is to provide support for small businesses in the UK by taking its CRM system to phase two.
The system will provide small businesses with more access to financial markets, enabling them to grow their company, create more jobs and boost the UK economy.Read more >>
A report from accountancy and business advisory firm BDO LLP has shown that businesses in the UK continue to be optimistic about their future growth, despite a drop in business output.
BDO’s Output Index showed that UK business output dropped from 100.05 in March to 99.97 last month, which was below the long-term growth trend of 100. However, the company’s Optimism Index found that businesses continued to feel confident about their financial prospects.Read more >>
Research from Innovate Finance and WPI Economics has shown that fintech could help to boost employment in the UK, with the industry creating 30,000 new jobs over the next ten years and the number of people employed in the sector expected to reach 100,000 by 2030.
The report highlighted the importance of global talent to the UK’s fintech sector and called for a flexible immigration policy to be put in place to prevent the UK from losing over £350 million.Read more >>
The Lord Mayor of London, Charles Bowman, is to help strengthen the City of London’s trade links with Chile.
Bowman, who is also the global ambassador for the UK’s financial and professional services industry, will be visiting Chile to meet with business leaders, trade bodies and regulators to talk about how the City of London can in tandem with businesses in Chile as they look to invest in boosting growth both domestically and overseas.
Read more >>
The Institute of Chartered Accountants in England and Wales (ICAEW) is collaborating with business support firm Enterprise Nation to create a new business advisor platform aimed at small businesses in the UK.
The platform will provide small companies and entrepreneurs with better access to accountants and business advisors, enabling them to receive the valuable support and advice that they need to boost their chances of being successful.Read more >>
Research from CV-Library has shown an increase in jobs and salaries in the accountancy sector in the first quarter of 2018.
The study compared the number of job applications, jobs and salaries in Q1 with the first and fourth quarter of 2017 and found that the number of jobs in the accounting sector increased by nearly a quarter year-on-year.Read more >>
Figures from machine intelligence platform CB Insights have shown a record rise in the number of global financial technology deals in the first quarter of 2018, with emerging markets leading the way.
The Global Fintech Report showed that the number of fintechs that secured funding in Q1 2018 stood at 323, up from 286 in the final quarter of 2017.Read more >>
The latest figures from the Association of Professional Staffing Companies (APSCo) have shown an increase in permanent placements, with financial services showing a higher than average increase in permanent hiring.
The figures, which focus on professional recruitment in the UK, showed that permanent placements increased for the 13th month running, with a rise of 9% - a sustained growth that doesn’t look like slowing down anytime soon.Read more >>