The Bank of England and FCA Order Banks to Reveal Tech Meltdown Plans

UK banks have been told to reveal tech meltdown plans by The Bank of England and the Financial Conduct Authority. Together, they have given financial firms three months to detail how they would respond if their systems failed. In part, this has been triggered by some TSB customers being left unable to access online [...]

By |2018-07-07T12:53:32+00:00July 7th, 2018|Financial|0 Comments

Debit Card Payments Overtake Cash with Contactless Payments Rising Sharply

Debit card payments have overtaken cash use. New figures show contactless technology is taking a firm hold on day-to-day spending with 25-34 year olds embracing the rise of new technology faster than expected. According to banking trade body UK Finance. 13.2 billion debit card payments were made last year versus 13.1 billion cash payments. 14% [...]

By |2018-06-18T10:50:14+00:00June 18th, 2018|Financial|0 Comments

Brexit Vote Likely to Impact Sterling

Sterling traders will be keeping a close watch on proceedings in the House of Commons where MPs will be voting on 15 House of Lords amendments to the EU Withdrawal Bill. These amendments include requiring the UK to negotiate a customs union with the EU before passing the final bill and giving parliament more [...]

By |2018-06-11T17:29:50+00:00June 11th, 2018|Financial|0 Comments

Banks tackle fintech challengers as they struggle to be preferable to a dentist visit

According to the Millennial Disruption Index, 71 per cent of young people would rather go to the dentist in Marlborough than listen to what their bank is saying, and new research from Viacom’s research arm, Scratch, finds a third of Millennials expect to be bank-free in the near future. Meanwhile 75 per cent say they would prefer [...]

By |2020-07-28T14:05:03+00:00June 6th, 2018|Financial|0 Comments

High-cost credit review findings from the Financial Conduct Authority

On Thursday the Financial Conduct Authority published its review of high-cost credit and has outlined a number of key areas which will see UK banks having to develop technology to help customers at risk of slipping into debt, as well as a range of financial management tools to make it easier to keep on [...]

By |2018-06-01T16:05:01+00:00June 1st, 2018|Financial|0 Comments

Italy’s Economic Impact of Missing The World Cup

This summer, it won't just be the Italian public looking a bit glum as countries from around the world take part in the World Cup. Gli Azzurri's failure to qualify for the World's premier sporting competition for the first time since 1958 may cost the nation around 1 Billion Euros. “It’s not only about [...]

By |2018-05-21T13:19:15+00:00May 21st, 2018|Financial, International|0 Comments

Technology supports economic mobility

If you are born into a low-income family, you might think it a 'no-brainer' that the only way is up and that surpassing your parents wealth was easily achievable. Take a deeper look and economic mobility is a global issue which matters for fighting poverty, reducing inequality, and even for boosting growth. Sadly, mobility has stalled [...]

By |2018-05-11T11:27:01+00:00May 11th, 2018|Financial, International|0 Comments

Digital wallets and FX will play an important role in supporting globalisation

Most conversations about the benefits of digital wallets focus on the benefits to consumers; safer than cash, quicker and more convenient than visiting the ever diminishing number of bank branches and how they eliminate little things like the need to input credit card details or a PIN to complete a purchase. However, digital wallets aren't [...]

By |2018-05-11T11:18:35+00:00May 8th, 2018|Financial, International|0 Comments

FX market update | May 2018 | Pound under pressure

What goes up must come down as the saying goes. Six weeks of sustained gains by Sterling against the Dollar during March and April quickly came to a halt in the second half of April and losses continued into the first week of May. Recent Highs and Lows: 28th February                    1.3761 16th April                            [...]

By |2018-05-11T11:23:36+00:00May 10th, 2017|Financial|0 Comments
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