Banking news in the UK | Page 3

An overview of news, trends and research in the Banking industry in the UK:

5 ways banks can use AI to better serve their customers Emerging technologies such as artificial intelligence – or AI – and deeper AI techniques including machine learning and deep learning are touted to transform the banking industry.
19 November 2020
Two-thirds of UK banks have no net zero target While a glut of private and public entities have been publicising plans to become carbon neutral before 2050, a new study has revealed that only around one-third of Britain’s largest banks have net z
09 November 2020
Coeus Consulting supports challenger bank with digital journey Professionals from Coeus Consulting have helped a client in the banking sector find a digital partner, who will help modernise the bank’s core platform to adapt for the challenger bank market.
09 November 2020
Half of UK financial services staff want shift to flexible working More than one-quarter of finance workers want to work from home full time once Covid-19 passes, while one-in-ten are looking to relocate following the pandemic.
04 November 2020
Global market size of digital payments industry soares The number of non-cash transactions, or digital payments, soared worldwide last year to surpass 700 billion – adding up to nearly 100 digital transactions on average in a year for each person on earth.
29 October 2020
Neil Ward & Associates signs partnerships in Europe and Asia UK-based consulting firm Neil Ward & Associates has in the past weeks bolstered its offerings with two new international partnerships.
19 October 2020
European FinTechs face 'existential threat' as funding dries up Despite years of hype declaring FinTech investment was set to experience some endless boom, the bubble looks set to burst amid the current recession.
12 October 2020
How Covid-19 is changing the operations of UK banks The UK banking sector has had to adapt quickly to cope with the challenges of the coronavirus pandemic, with three-quarters of financial sector leaders saying their organisation has become more innov
08 October 2020
PA Consulting supports FCA and Bank of England PA Consulting has partnered with Suade Labs to support the Financial Conduct Authority and Bank of England on reviewing pioneering Digital Regulatory Reporting initiative.
29 September 2020
Extended Reality offers financial services huge opportunities The use of Extended Reality has the potential to disrupt the financial services industry, according to a new report by Synechron.
23 September 2020
UBS calls in McKinsey to explore merger with Credit Suisse Swiss financial giant UBS has reportedly tapped consultants from McKinsey & Company to draw up plans for a mega-merger with rival wealth manager Credit Suisse.
22 September 2020
What lies ahead for cloud adoption in financial services Cloud programmes across the financial services industry have seen significant acceleration in terms of adoption over the last few years.
15 September 2020
Quarter of bank branches will close in coming three years The number of bank branches in Europe has declined dramatically over the past decade, from 240,000 a decade ago to around 165,000 today.
14 September 2020
Consultants hired to check Covid-19 rescue loans for fraud The British Business Bank has hired professionals from RSM and KPMG to examine the recipients of its emergency loans amid the Covid-19 lockdown.
03 September 2020
Convedo supports Australian FinTech with banking infrastructure Canary Wharf based IT consultancy Convedo has supported Australian FinTech Hay Technology with the launch of its own challenger bank service.
27 August 2020
Accenture to help Bank of England with payments overhaul The Bank of England has hired IT consulting firm Accenture to refresh a key part of the UK’s crucial payments system in a deal worth up to £150 million.
14 August 2020
Retail banks adjust to challenge of FinTechs Traditional banks have increasingly lost clientele to originally non-bank, new players on the market, in recent years.
11 August 2020
US banking giant to cut consultancy spend by £750 million The UK’s consulting market could be about to feel the economic impact of the Covid-19 outbreak in the financial services sector, with banks plotting to stabilise their bottom-lines considering a cull
10 August 2020
New technology platform cuts operational KYC costs 40% International consulting firm Delta Capita has launched a new platform that according to the firm can help banks lower their KYC operational costs by up to 40%.
30 July 2020
How Covid-19 will shift priorities across the financial services industry Amid a health, societal and economic crisis, financial services will be looked to as a pillar of recovery by governments, organisations and individuals alike.
21 July 2020
AI helps HSBC cut false alarms from flagged payments An AI tool designed and implemented by KPMG has enabled HSBC to save nearly a quarter of its sanctions monitoring spend.
16 July 2020
Telecom, hi-tech and banking are digital transformation leaders A new study has found that the telecom, hi-tech and banking industries are the current trend-setters, when it comes digital transformation.
24 June 2020
British Business Bank hires Deloitte, KPMG and PwC Three of the Big Four accounting firms have won contracts to support the British Business Bank, which will pay out £20 million in consulting fees for their work.
17 June 2020
Employee focus critical for banks during remote working Employee engagement was already a challenge for banks before the outbreak of the Covid-19 pandemic, but with the unfolding of the crisis and its impact, the challenge has only become bigger.
04 June 2020
McKinsey partner Chira Barua joins HSBC as Head of Strategy Chira Barua, a partner at McKinsey & Company, has joined HSBC as Group Head of Strategy.
02 June 2020
Strategic challenges of cloud adoption in financial services While the move to the cloud was already well underway in financial services, the outbreak of the covid-19 pandemic has accelerated the need for virtual organising, and in it slipstream cloud-based working.
28 May 2020
Delta Capita secures SFTR compliance contracts in UK and US Delta Capita has secured large contracts with UnaVista and The Depository Trust & Clearing Corporation.
26 May 2020
Banks unprepared for FinTech collaborations The legacy IT systems of banks may be preventing effective collaborations with FinTechs; with just 6% of banks currently achieving their desired ROI on such ventures.
23 April 2020
Four ways how AI can benefit the financial services industry The advent of artificial intelligence (AI) is providing financial services institutions with major opportunities for improving their client offerings, operations and compliance.
02 April 2020
Capco helps MyBnk with launch of financial education app Consultancy Capco has teamed up with financial education provider MyBnk to launch a new app teaching children to understand basic elements of personal finance.
18 March 2020
Neobanks struggle to turn popularity into profit Digitally savvy neobanks in the UK have seen their customer-base grow rapidly in the last year, adding around 6 million new users.
17 March 2020
UK financial institutions should prepare for an EU license When the transition phase between the EU and the UK retires at the end of this year, many UK financial services institutions will need to have a ‘license to operate’ in mainland Europe.
16 March 2020

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