Posts Tagged: Banks

MarketInvoice Joins RBS/NatWest’s Alternative Finance Marketplace

Invoice trading platform MarketInvoice has joined the Royal Bank of Scotland/NatWest Capital Connections panel, joining a group of alternative finance providers that also includes Peer to Peer Lender, Funding Circle and Assetz Capital. The Capital Connections Panel was set up by the High Street banking group to help businesses that were unable to attract traditional…

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Bank of England Backtracks on Digital Currency

The UK’s central Bank has dropped any plans to launch its own digital currency but has said it will continue to research the proposition. The decision to ditch a digital currency in the short-term is thought to be anchored by concerns about the impact of such a currency on the global financial system.   The…

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Finance Directors Are Laggards When It Comes to Alternative Finance

 A new study from an independent senior recruitment specialist firm, Tindall Perry, reveals that 74 per cent of finance directors describe their knowledge of alternative finance as average or above, yet only a quarter of them were comfortable accessing crowdfunding or peer-to-peer lending.   Over 83 per cent of finance directors approach their bank first…

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Open Banking Set to Boost Fintech

New Open Banking rules are set to boost the UK’s fintech sector.From January 13, 2018 new rules come into force meaning that all of Britain’s banks will be required to make customer account data available to approved rivals.   If Open Banking proves a success, it could mean a wider range of financial services for…

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SMEs’ Search for the Fastest Route to Finance

SME’s Are Losing Out Leaving Cash in the Bank Small businesses are benefiting from an increase in bank approval rates, according to research from BiZ2Credit. It reports that 25 per cent of SME loan applications at large banks were approved in October.   This is an improvement from the dismal post-recession statistics when the large banks…

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SME’s Are Losing out Leaving Cash in the Bank

Figures from a YouGov survey show small to medium-sized businesses (SMEs) are missing out on better interest rates by leaving their cash with the Big Four banks. According to the survey some of the UK’s ‘challenger’ banks are now offering rates of up to 1.20 per cent for short-term deposits, none of the high street…

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First Port of Call – When to Seek Alternative Finance

Nature abhors a vacuum, so when bank lending slowed to a trickle in the wake of the global financial crisis, it was almost inevitable that new forms of business funding would emerge to address demand from SMEs for growth and working capital. In the short term, asset backed lenders – the alternative financiers of their…

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Alternative Finance Continues Its Steady March to Mainstream

  P2P (peer-to-peer) lender Zopa has announced it will partner with Saffron Building Society effectively allowing customers to apply for its loans via the Society’s 11 brick-and-mortar branches.    The new tie-up will enable borrowers to apply for a P2P loan at any of Saffron Building Society’s 11 branches across Hertfordshire, Essex and Suffolk and via Saffron’s…

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P2P Should Diversify To Survive

The peer-to-peer industry (P2P), long touted as the biggest challenge to the high street banks is still suffering growing pains.   The long-standing supply and demand problem that platforms have experienced shows no sign of abating with many of the leading players are still failing to attract enough borrowers. Zopa, the oldest P2P lender, has…

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Will Traditional Banks Take on Their Challengers?

  The number of the new banks seeking to disrupt the UK financial services landscape has increased in the last couple of years. These so-called ‘challenger banks’ are luring customers away from the traditional banks at an alarming pace, growing their customer base from those who are still suspicious of traditional institutions since the financial…

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