London cyber security startup Callsign, used by Lloyds and Deutsche Bank, has raised a huge $35m series A led by Accel and PTB Ventures July 27, 2017 A security startup focused on digital identity which helps keep Lloyds and Deutsche Bank protected has raised a huge round of funding from venture capital investors. London-based Callsign has landed $35m in a series A round of funding led by Spotify backer Accel and PTB Ventures a New York-based early-stage investment firm specialising in digital [...]
Lloyds Banking Group, HSBC and Royal Bank of Scotland in firing line in Australian rate rigging case brought in the US August 18, 2016 Lloyds Banking Group, HSBC and Royal Bank of Scotland are all in legal hot water after a case was filed in the US against a slew of banks on allegations they rigged a key Australian benchmark rate. The US lawsuit claims the lenders manipulated the bank bill swap rate (BBSW), a benchmark used mainly in Australian [...]
UK blockchain startup launches equity crowdfunding round July 12, 2018 For venture-minded investors who have yet to make any major forays into the tantalising yet potentially risky ICO world of blockchain and cryptocurrency, one equity investment opportunity live now on Crowdcube may prove to be a gateway. Introducing: the bank account based on blockchain BABB (Bank Account Based Blockchain) is a UK-based startup. It is building [...]
TSB online banking down as customers complain about not being able to access their accounts for a fifth day April 24, 2018 Some TSB customers have complained that troubles with mobile and online banking have continued into a fifth day after an IT upgrade over the weekend. TSB transferred 1.3bn customer records from the Lloyds platform over to a new platform built by Spanish bank Bacno Sabadell, which acquired TSB in 2015. But customers have been complaining [...]
Banking bleakness: This is how people reacted to 3,000 further job losses at Lloyds Banking Group July 28, 2016 In its half-year results this morning, Lloyds Banking Group revealed it would be shedding a further 3,000 jobs by 2017. Persistently low interest rates are proving a problem for the banking sector, and the situation could be about to get even worse: many are predicting the Bank of England will choose to cut rates further [...]
TSB boss Paul Pester to give up (one) bonus after IT meltdown May 2, 2018 TSB chief executive Paul Pester will give up a bonus tied to the computer systems migration which has gone disastrously wrong, leaving thousands of customers without access to their accounts for days. Speaking at the Treasury Select Committee, TSB chair Richard Meddings today said: “He will not be taking his bonus for the integration”. In [...]
Lloyds Banking Group to cut 640 jobs and close 23 branches June 29, 2016 Lloyds Banking Group is planning to cut around 640 jobs and close 23 branches as it moves to reduces its presence across the UK. The firm said it would make 525 net role reductions – it plans to create 115 new roles – within its retail and group operations. Lloyds also confirmed that it will close 23 [...]
11 tech startups to watch according to top insurers in Startupbootcamp’s insurtech accelerator December 11, 2017 Nearly a dozen startups looking to disrupt the insurance industry with technology such as artificial intelligence have been chosen for the latest cohort of a London programme, backed by Lloyds Banking Group, Allianz, Scottish Widows and Confused.com among several high-profile financial firms. The 11 early stage startups from nine countries around the world will join [...]
Chancellor Philip Hammond is reportedly considering an early sale of the government’s remaining Lloyds Bank shares July 17, 2016 Chancellor Philip Hammond may be weighing a rapid sale of government holdings in Lloyds, despite the fact that shares in the bank remain almost 25 per cent below a previously estimated break-even price. Hammond, who was Prime Minister Theresa May's first appointment last week, is reportedly considering early sales for the bank shares. Lloyds shares [...]
Analysts banking on Lloyds and Barclays to have steamed ahead during 2016, as other UK lenders struggle February 19, 2017 Analysts are predicting Lloyds Banking Group and Barclays will race ahead of the pack when the UK's big banks report their earnings this week. Lloyds, which will report its 2016 full-year figures on Wednesday, is forecast a statutory pre-tax profit of £4.4bn, more than double the £1.6bn it reported in 2015, when its earning potential [...]