Home credit lender, Provident Financial, has reported “further good progress”  for this year’s third-quarter as it still recovers from a disastrous 2017. The latest company statement says that two of its divisions are under FCA investigation which has led to a £120m loss for the firm. However, the company is now seeing further progress in…

Anti-money laundering (AML) specialist SmartSearch has announced that it will become a Living Wage employer. The voluntary commitment sees directly employed staff including casual workers over the age of 18; receive a minimum hourly wage of £8.75 in the UK; significantly higher than the national minimum wage for over 25s of £7.83 per hour. The company, based…

A national competition that challenges firms to deliver digital services aimed at helping those struggling with their money has been launched. Nationwide Building Society’s Open Banking for Good challenge (OB4G) will see fintech organisations and academics work together to develop Open Banking apps and services that make a real difference to people’s lives, particularly those…

Leading figures from a number of banks, building societies and other financial institutions have been provided with an update on the progress of the new Image Clearing System (ICS) for cheques, twelve months since its introduction across the UK. Delegates heard a variety of presentations at the 4th Annual Cheque Imaging & Remote Deposit Capture…

UK Finance, the trade organisation representing around 300 firms in the finance and banking industry operating in the UK, has today announced the appointment of David Postings, Global Chief Executive, Bibby Financial Services and Mark Barnett, President of Mastercard UK, Ireland, Nordics & Baltics, to its Board. David and Mark will be joining the 22-strong…

Payment company Ingenico has today a partnership with European payments company, Trustly, that will enable customers in Europe to make secure online transactions directly from their bank account. The collaboration will see Ingenico expand its range of online payment solutions and enhance its position in 26 European countries, with online banking payment method now integrated into…

CYBG has completed the acquisition of Virgin Money, creating the UK’s sixth-biggest bank. Commenting on completing the Virgin Money acquisition, CYBG Chief Executive David Duffy, said “Today marks an historic milestone for CYBG and Virgin Money, creating the first true national competitor to the status quo in UK banking with a clear ambition to provide customers…

Challenger credit bureau Credit Kudos has announced that it has created an Open Banking technology partnership with software development business Paylink Solutions. Using Open Banking, Paylink Solutions has a more efficient and secure process in place for individuals to provide financial information, rather than having to manually input these details and upload documents. Susan Rann,…

Pepper Money (PMB) has finalised the terms to acquire 100% of the second charge lender, Optimum Credit Ltd, from its current owner Patron Capital, as part of its ongoing UK growth strategy. The purchase, which remains subject to regulatory approval, will see Pepper Money acquire Optimum Credit’s entire business, which includes a UK second charge…

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