Introducing Money Squirrel: A Game-Changing App Revolutionising Financial Management for UK Small Businesses
Introducing Money Squirrel: A Game-Changing App Revolutionising Financial Management for UK Small Businesses Introducing Money Squirrel: A Game-Changing App Revolutionising Financial Management for UK Small Businesses Money Squirrel, a revolutionary new fintech, today proudly unveils its innovative app, designed to help businesses take control of their finances and make their hard-earned cash work harder. Money […]
Bridging the Digital Gap in Islamic Finance
Introduction There is growing demand for digital solutions from Islamic Financial Institutions (IFIs) in the UK and globally, especially amongst young Muslims. A Mambu report found that 74% of millennial and Gen Z Muslims desired Islamic finance mobile banking apps. Additionally, 76% considered online banking options a deal breaker for converting from conventional finance to […]
Court of appeal announcement shakes up the specialist lender market
Last week, the Court of Appeal made a ruling mandating that brokers must fully disclose and obtain explicit consent from customers regarding any commissions received from lenders. This decision has significant implications not only for firms operating in the motor finance market, but also for those in other areas of asset finance. Discretionary commission arrangements […]
Is Open Finance too open for building societies?
Open Finance is one of the most radical innovations in the financial services sector at present. The Building Society Association (BSA) recently commissioned a piece of research on: The impact of Open Finance on Mutuals’ business models. The BSA summary states that “In the savings market, a personal finance app could use Open Finance data […]
Coining a new era: Tokenisation for Building Societies
Introduction Imagine you own a buy to let property that is worth £500,000. You want to sell it for that amount, but you don’t have many buyers who can afford it, and don’t want to reduce the price. You might also not want to lose the ownership of the whole house. What if you could […]
The Role of Open Banking in Protecting Vulnerable Customers
In 2024, becoming a digital-first Financial Institution (FI) is not just an advantage, but a necessity for most that wish to both retain and gain customers. The emergence of Open Banking has compounded this, becoming a catalyst for innovation and customer-centricity. When discussing the benefits of Open Banking, the theme is often around how it […]
The Modern Mutual: What is your Branch Strategy?
Britain’s Battle with The Branches 2024 kicked off with several banks announcing branch closures, contributing to the ongoing decline of bank branches, down from nearly 15,000 branches in 1986 to fewer than 6,000 as of 2023. This situation has presented several challenges, particularly for local communities where the dwindling presence of branches has left those […]
Mitigating Security Risks in the Mobile Banking Era
Over recent years, the adoption of mobile banking has led to significant and transformative changes within the global financial services industry. In the post pandemic era there has been a ~70% increase in customers using digital banking channels, propelling the global mobile banking market from $692.5 million in 2021 to an anticipated $1.3 billion by 2028. […]
Is spending money (wisely) the new way forward for financial literacy?
As we gear up to the festive season, it is not a surprise to hear that UK Consumers are loading up their shopping carts in celebration, with total spending rising to almost £110 billion in the last three months of 2023. However, with increased spending and the continued cost of living crisis, one thing is […]
Confirmation of Payee (CoP)
In May 2023, the Home Secretary Suella Braverman presented to Parliament finding that 1 in 15 adults were victims of fraud in 2022. While the exact figures are unknown and difficult to determine, it’s predicted by Peters & Peters and Crowe that British individuals are losing approximately £8.3 billion per year to fraud. Background to […]