Co-op Bank reports dip in profits as takeover suitors swirl November 8, 2023 Co-operative Bank has doubled down on its guidance for the year today despite a dip in profits, in a key set of results for the lender as it hunts for a potential buyer.
Financial watchdog slams payment firms for lacklustre handling of APP fraud November 7, 2023 The UK's financial watchdog has found that payment firms should strengthen their systems to detect and prevent authorised push payment fraud (APP), as well as treat victims better.
Oaknorth founder accuses lenders of underserving SMEs for years November 7, 2023 Oaknorth is offering to help scale-up businesses that are being overlooked and underserved by big banks
Crisis over? Metro Bank deposit outflows stabilise following dramatic fundraise November 7, 2023 Metro Bank confirmed this morning that deposit outflows have returned back to normal levels after its dramatic fundraise last month.
UBS swings to bigger-than-expected £637m loss after costly Credit Suisse integration November 7, 2023 The Switzerland-based bank posted a net loss of $785m £637m) in the third quarter, significantly higher than the $444m analysts polled by Reuters had forecast.
Revolut in talks to move headquarters to Canary Wharf landmark November 6, 2023 Fintech Revolut is in negotiations to relocate its headquarters to a more central area of Canary Wharf, according to reports, in what could be a boost for the struggling financial district.
Structural hedges: Banks’ secret weapon to capitalise on high interest rates November 6, 2023 The UK’s major listed banks are set to reap the benefits of higher interest rates for years to come thanks to the impact of structural hedging, according to analysts.
Watchdog sorry for suggesting ex-Natwest boss Rose broke data rules over Farage ‘debanking’ scandal November 6, 2023 The UK's data watchdog has apologised to former Natwest chief executive Dame Alison Rose for suggesting that she was personally under investigation for breaching data rules in a "debanking" scandal involving Nigel Farage.
Natwest upgrades AI chatbot to provide ‘human interaction’ amid branch closures November 6, 2023 Whereas Natwest's original Cora was a basic question-and-answer bot, the updated version will use “generative” AI, similar to ChatGPT.
CAB Payments shareholders feel misled over risks after flop float November 6, 2023 RC Brown and Polar Capital, two investment funds, are understood to be among those alleging that the risks in CAB’s West African markets were not fully disclosed.