Where can I use Apple Pay in the UK? The A-Z of shops, restaurants and apps which will accept mobile payment with iPhone 6 and 6 Plus November 17, 2015 Apple launched its mobile payment service, Apple Pay, in the UK in its first mobile payment move beyond the US, capitalising on the boom in mobile and contactless payments among consumers. iPhone 6 and 6 Plus users can now pay with just the tap of a smartphone, or Apple Watch, across the high street and [...]
Lloyds, HSBC, First Direct warn Apple Pay users: Storing other people’s fingerprints is like “giving out your pin” November 3, 2015 Store your spouse’s fingerprint on your phone? You could be in for a nasty surprise. UK banks are warning customers against the practice, announcing that if you wish to use Apple Pay, you must delete other people’s prints. Lloyds’ customers are warned in the bank’s terms and conditions: If Touch ID is available on your [...]
RBS is “cutting people off from their own money” and “starving businesses of both cash and credit,” says Move Your Money campaign October 30, 2015 Royal Bank of Scotland is the “worst” bank for branch closures, according to a new report out today. One in three British branch closures between 2014 and 2015 was at the hands of RBS or its sister brand, NatWest, according to the Move Your Money campaign. Accusing Britain’s biggest lender to small businesses of “abandoning [...]
In the market for disruption: SapientNitro chief executive Nigel Vaz on consumer expectations October 25, 2015 Most disruptive companies have certain characteristics in common. They adapt constantly to stay ahead of the curve, they are dedicated to digital and deliver excellent customer service. Nigel Vaz, global chief strategy officer and European chief executive of SapientNitro, likens such businesses to gryphons – mythical hybrids with the wings of an eagle and the [...]
Royal Bank of Scotland is rebranding (but you may not notice) October 12, 2015 What better way for banks to distance themselves from a disastrous decade of bailouts and the Libor scandals than a rebrand. Now Royal Bank of Scotland, or RBS as we know it on the high street, is taking a big step forward by, er, changing those three letters from upper case to lower case. Literally, "decapitalising", as the [...]
City Moves for 6 October 2015 | Who’s switching jobs October 5, 2015 ETF SECURITIES The provider of exchange traded products has appointed James Butterfill as head of research & investment strategy. Based in London, he will report direct to Mark Weeks, the firm’s chief executive officer. Prior to joining ETF Securities, Butterfill worked at HSBC, and most recently at Coutts, as a multi-asset fund manager and global [...]
City Moves for 05 October 2015 | Who’s switching jobs October 4, 2015 EY The professional services firm has appointed Omar Ali as its new UK financial services leader. He replaces Chris Price, who will lead EY’s global people advisory services. Ali was previously UK banking and capital markets leader. He joined EY in 2001, becoming a partner at the age of 29 in 2006. He began his [...]
Interest-only loans are going out of fashion, as number of current loans drop 16 per cent September 22, 2015 Repeated warnings that interest-only mortgages are a "ticking time bomb" appear to be filtering through to the market, with figures out this morning showing a 16 per cent drop in the number of such loans outstanding. A quarter of the reduction is the result of loans reaching maturity and being redeemed while a further 40 [...]
RBS and NatWest to offer interest-only mortgages from 21 September to high earners September 10, 2015 RBS and NatWest will be offering their wealthier customers interest-only mortgages for the first time since December 2012. The loans, available from 21 September, will only be offered to those earning £100,000 or more a year, excluding bonuses, with a maxium loan-to-value of 75 per cent. Customers must also have an acceptable repayment strategy, such as savings or a [...]
New iPhone 6s release 2015: What 3D Touch and Apple’s new iPhone means for banking and the financial services industry September 10, 2015 The long-awaited iPhone 6S and iPhone 6S Plus are finally here and, despite being somewhat overshadowed at yesterday’s launch by the iPad Pro and Apple TV, they certainly hold much promise for the banking sector. In particular they have the potential to significantly improve mobile banking, thanks to several new and updated features. Improvements in [...]