Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Royal Bank of Scotland testing new Natwest digital business banking platform September 18, 2018 Royal Bank of Scotland (RBS) has started testing a new business banking platform alongside a separate digital retail bank. The platform, which is being run under the Natwest brand, is in very early-stage tests with a small number of small businesses. The business bank tests are running alongside a separate retail banking offering in development, [...]
Barclays takes on HSBC as it opens up mobile app to rival bank accounts September 12, 2018 Barclays is taking on HSBC as it opens up its app to rival banks accounts, it announced today. The high street bank will be the first to let customers bring current accounts from other providers into its mobile banking platform using Open Banking technology. The ability to aggregate accounts is already offered by HSBC's Connected Money, which uses so-called screen-scraping to access accounts at competitor [...]
RBS prunes another 54 branches from its network of high street banks September 5, 2018 Royal Bank of Scotland is to close another 54 branches, expecting to make 259 people redundant. The closures, which will take place in January, come after the announced closure of 162 branches, resulting in an expected 792 redundancies. They are a consequence of RBS deciding against spinning off two banks as a challenger bank operating [...]
Royal Bank of Scotland closes 54 branches with 258 jobs lost September 5, 2018 Royal Bank of Scotland (RBS) will cut its English and Welsh branch network in half in January with the loss of more than 250 jobs, in the latest move by a major high street lender to cut back their sprawling networks. RBS is closing 54 branches, leaving another 54, including six in London and the [...]
TSB plunges to bottom of banking customer service poll following IT meltdown August 31, 2018 TSB has plummeted from 4th to 11th in a banking customer service poll following its recent IT disasters. Forty nine per cent of those who graded TSB’s service in the MoneySavingExpert.com poll rated it as “poor” with just 23 per cent describing its service as “great”. Read more: TSB forced to delay switch from Visa to [...]
Blockchain Tech: Opportunity or Threat? July 31, 2018 Last week PwC, this week Deloitte – another strong signal cutting through all the noise – concluding in their new 'New Tech on the Block" report that "those who do not consider the possibilities [of Blockchain technology] are at risk of falling behind" and "by contrast early adopters of the technology will have the ability [...]
Going for gold: London fintech Glint is heading to the US and Japan, and will be raising £15m to do it July 12, 2018 Glint, a London startup that lets you spend and save in physical gold, is looking to raise a £15m Series A to help bolster its target of launching in the US and Japan by the end of the year. First launched in the UK in November last year, Glint offers its users a pre-paid Mastercard [...]
Britain should be proud to be a nation of immigrant entrepreneurs July 9, 2018 Britain isn’t a nation of shopkeepers. We’re a nation of entrepreneurs and wannabe entrepreneurs, and a magnet for entrepreneurial talent from around the world, as revealed by the latest Global Entrepreneurship Monitor (GEM) – the world’s most authoritative comparative study of entrepreneurial activity. The findings from Aston University in partnership with NatWest reveal that 8.7 [...]
These are the six new types of banking jobs that HSBC reckons will be in high demand in the future July 5, 2018 A new report has revealed six new banking jobs of the future expected as the industry focuses on digital evolution, with a view to how that will impact on people in the workforce. The study commissioned by HSBC analyses the challenges and opportunities on the horizon for the banking industry and has used that to [...]
City Moves – Monday 2 July. Who’s moving jobs at Kensington Mortgages, Lockton and Brilliant Basics July 2, 2018 Kensington Mortgages Kensington Mortgages hired Sharon Cochrane for the role of account development manager for Scotland, following Kensington’s full market launch earlier this year. Sharon will be responsible for new business growth and relationship management. Sharon brings over 19 years’ worth of experience in financial services to the role –15 of which were spent as [...]