TSB is publishing flagship research in Parliament today on the impact of better banking and business services on the productivity of British SMEs. At an event hosted by the All-Party Parliamentary Group on Fair Business Banking, TSB will launch its ‘Boosting Local Business’ report which reveals that giving small businesses access to the products, tools and advice they need…

Small business lender Iwoca has announced that Seema Desai has been named Chief Operations Officer (COO). Desai joins a small but growing number of women at C-suite level in the fintech industry. Desai joined iwoca in January 2017 as Head of People, developing Iwoca’s talent and organisational capabilities. Prior to joining Iwoca, Desai led the…

New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) in September was at a similar level to the same month in 2017.  In Q3 2018, new business grew by 6% compared with the same quarter in the previous year. New finance for IT…

A new report by research specialist Gartner says that Digitalisation will make most heritage financial firms irrelevant by 2030. These firms will struggle for relevance as global digital platforms, fintech companies and other nontraditional players gain greater market share, using technology to change the economics and business models of the industry. Speaking at Gartner Symposium/ITxpo 2018 on…

The Treasury Committee has published a Report on SME Finance with a recommendation to appoint a Financial Services Tribunal to help SMEs resolve disputes with lenders. The report says the Financial Services Tribunal is needed to handle complex SME disputes and expanding the Ombudsman’s remit to handle SME cases should not be rushed through. The…

Accountant in Bankruptcy (AiB) has released official statistics reporting corporate insolvencies Scotland for the second quarter (July to September 2018) of 2018-19. The number of corporate insolvencies in Scotland fell by 5% in Q2 2018-19 (July-September 2018) compared with Q1 2018-19 (April-June 2018), but rose by 4% compared with Q2 2017-18 (July-September 2017). Commenting on the…

UK Finance has published its Business finance update for September 2018 which reveals that Lending to manufacturers grew by 4.9 percent over the last twelve months.  While there is annual growth in borrowing demand from manufacturers, agriculture and accommodation, those sectors are in marked contrast to a wider 2.0 percent contraction in UK business borrowing overall. Deposits…

Buy-to-let and specialist lender, Fleet Mortgages, has announced the promotion of Graham Le Bas to the role of National Sales Manager. Le Bas has previously been BDM in the South West for Fleet for the past two years and will now be working with the lender’s team of BDMs who cover the breadth of England and…

The Bank of England’s Financial Policy Committee (FPC) has warned that the growth of new lending to already indebted firms, through leveraged-loans, has parallels to the subprime mortgage boom which ended with the global financial crisis in 2008. Minutes from the FPC’s latest meeting also reveal warnings over the rise in loans with weaker covenants…

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