Banks must ensure access to cash when closing branches under new FCA rules July 24, 2024 Banks and building societies looking to close branches will have to weigh up whether residents are able to access cash under new rules announced by the City watchdog today. Starting from 18 September, banks will have to assess whether closing local bank branches or ATMs leaves communities without adequate access to cash. Where significant gaps [...]
TSB Bank faces precedent lawsuit over Northern Rock mortgage rates July 23, 2024 TSB Bank is at the High Court this week facing precedent legal action by 350 mortgage customers over allegations it overcharged on its mortgage rates.
Barclays seek to strike out a chunk of £500m English investor lawsuit July 22, 2024 British bank Barclays is back in court today as it seeks to strike out part of lawsuit against it by a group of investors over allegations of fraud made in the US
Open banking leads the way in reducing Bacs risk July 22, 2024 | Sponsored By Liz Carroll, Senior Product Manager, Financial Marketplaces at Finastra The Bacs scheme is experiencing ongoing growth. More than 1.7 billion Bacs payments were made during Q4 2023 with the corresponding value amounting to £1,418 billion. Direct Debits accounted for 71% of the volume and 26% of the value. Direct Debit gives payers a hands-off [...]
Banking on cross-border payments: Q&A with Radha Suvarna, CPO, Payments July 22, 2024 | Sponsored Q1. What is driving growth in cross-border payments? Cross-border payments are at the heart of the global economy, enabling businesses to serve customers wherever they are based in the world. Such transactions are estimated by the Bank of England to reach a value of over $250trn by 2027. Growth in high volume, low value payments [...]
Considerations for Building a Secure and Resilient Bacs Payments Process July 22, 2024 | Sponsored In part one of this two-part series, learn how to mitigate threats and unlock automation to increase business stability and resilience By Liz Carroll, Senior Product Manager, Financial Marketplaces at Finastra Operational resilience is the lifeline that keeps businesses thriving through unforeseen disruption, with automation being a key component of a threat mitigation strategy for [...]
Nationwide’s £2.9bn swoop on Virgin Money gets go-ahead from CMA July 19, 2024 A tie-up between Nationwide and Virgin Money has got the greenlight from the competition watchdog today, paving the way for the £2.9bn deal to close in the final quarter of this year.
FCA urges banks to improve treatment of politicians after Farage debanking row July 18, 2024 Over the last few months the Financial Conduct Authority (FCA) has been reviewing the treatment of so-called politically exposed persons (PEPs) after the debanking brouhaha last year.
What’s next for the square mile? The City A.M. Summit explores the future of London July 17, 2024 Here are the highlights of the City A.M. Summit, held in conjunction with the Aquis Exchange, which was a breakfast summit in London that took place at the Aquis Exchange on Wednesday, 10 July.
Experian: Strong consumer sales helps firm maintain expectations July 16, 2024 Strong growth in North America helped consumer and data analytics firm Experian to maintain its guidance in a quarterly update which saw the firm's total revenue increase substantially.