LSBF Blog - Global Matters

Global banks demand visa waiver to protect London’s financial status

Global banks demand visa waiver to protect London’s financial status

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. 

 

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Santander to create UK standalone digital bank for SMEs

Santander to create UK standalone digital bank for SMEs

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.

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Fintech most popular sector among high-net-worth and professional investors

Fintech most popular sector among high-net-worth and professional investors

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.

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ICAEW issues checklist to help accountants comply with GDPR

ICAEW issues checklist to help accountants comply with GDPR

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.

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HSBC becomes first UK bank to launch Open Banking app

HSBC becomes first UK bank to launch Open Banking app

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.

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Research reveals main priorities of banks in 2018

Research reveals main priorities of banks in 2018

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.

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Business confidence reaches two-year high, according to ICAEW

Business confidence reaches two-year high, according to ICAEW

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.

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Trust in UK banks reaches highest level since 2012

Trust in UK banks reaches highest level since 2012

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%.

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More UK consumers are using financial apps, study shows

More UK consumers are using financial apps, study shows

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.

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British Business Bank to help small businesses boost UK economy

British Business Bank to help small businesses boost UK economy

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.

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Businesses optimistic about future growth, according to BDO Index

Businesses optimistic about future growth, according to BDO Index

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.

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Fintech expected to bring 30,000 jobs to UK

Fintech expected to bring 30,000 jobs to UK

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.

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Lord Mayor of London to help strengthen finance sector links

Lord Mayor of London to help strengthen finance sector links

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.

 

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ICAEW to help small businesses have better access to accountants

ICAEW to help small businesses have better access to accountants

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.

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Research shows increase in accountancy jobs and salaries

April 25 ,2018 | by LSBF Blog Staff

Research shows increase in accountancy jobs and salaries

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.

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Emerging markets lead fintech deals in first quarter of 2018

April 25 ,2018 | by LSBF Blog Staff

Emerging markets lead fintech deals in first quarter of 2018

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.

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APSCo figures show increase in financial services jobs

APSCo figures show increase in financial services jobs

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.

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5 Reasons to study project management

5 Reasons to study project management

Are you looking for a new career, or just starting out and haven’t decided which direction to take?

If you consider yourself to be an organised person, enjoy working with other people and regularly enter a state of tranquility when you tick tasks off a to-do list, you may have a future in project management.

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Banks, Big Four firm make UK’s most valuable brands list

Banks, Big Four firm make UK’s most valuable brands list

Brand valuation consultancy Brand Finance has revealed the most valuable brands in the UK, with several banks making the list.

The report revealed the value of each brand, showing that despite worries over the vote for the UK to exit the EU, businesses in the UK are responding well to the challenges of Brexit.

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Report urges UK finance firms to fight cybercrime

Report urges UK finance firms to fight cybercrime

A report from professional services and Big Four firm KPMG and industry body UK Finance has urged finance firms in the UK to work together to fight cybercrime.

The report stated that a revamped approach is needed as cybercrime becomes a growing threat to the financial sector.

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Everywoman launches UK search for leading female entrepreneurs

April 19 ,2018 | by Anisa Choudhary

Everywoman launches UK search for leading female entrepreneurs

Everywoman, an organisation that celebrates the advancement of women in business, has launched its annual competition to find the UK’s leading female business owners.

The NatWest everywoman Awards celebrate the achievements of female business leaders, seeking out those who are making an economic impact and helping to inspire others.

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Banks are most trusted institution amongst millennials

Banks are most trusted institution amongst millennials

A study from short-term loans company Satsuma has shown that millennials place the most trust in banks when it comes to the protection of their personal information.

The survey looked at the online habits of 1,000 millennials and found that the majority of adults aged between 18 and 34 trust their banks to keep their personal information safe and private.

 

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More awareness of Open Banking benefits needed

April 17 ,2018 | by Anisa Choudhary

More awareness of Open Banking benefits needed

Research from fintech firm Crealogix Group has shown that consumers need to be provided with more information on the benefits of Open Banking.

The study surveyed 2,000 UK consumers and identified some of the barriers that Open Banking will need to address in order for the initiative to be adopted on a wide scale.

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London businesses most optimistic in UK, report shows

April 16 ,2018 | by Anisa Choudhary

London businesses most optimistic in UK, report shows

The latest Lloyds Bank Business Barometer has shown that businesses in London are the most optimistic in the UK, with positivity standing at 42% compared to the UK average of 33%.

Businesses in the city are also feeling positive about exporting, with more than half of respondents planning to export or enter a new market over the next six months.

 

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Financial services sector upbeat about growth prospects, study shows

Financial services sector upbeat about growth prospects, study shows

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.

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