PayPal Working Capital, the innovative business finance arm of the global payment services provider, has revealed a sharp rise in demand from UK SMEs. It has provided a total of £625 million in working capital finance, up from £400 million in mid-2017, to more than 30,000 businesses.
PayPal Working Capital, the innovative business finance arm of the global payment services provider, has revealed a sharp rise in demand from UK SMEs. It has provided a total of £625 million in working capital finance, up from £400 million in mid-2017, to more than 30,000 businesses.
Finance companies in the UK are fighting to reduce the cost of financial fraud after analysis revealed criminals stole £731.8 million last year. There is a never-ending battle for supremacy, as fraudsters adapt quickly to the introduction of new technology to ruthlessly exploit weaknesses they find in systems, services and processes. Two-factor authentication and robust banking procedures have helped to prevent criminals from acquiring £2 out of every £3 they try to take, but there is constant probing by gangs as the potential profits from a successful scam can be huge.
Finance companies in the UK are fighting to reduce the cost of financial fraud after analysis revealed criminals stole £731.8 million last year. There is a never-ending battle for supremacy, as fraudsters adapt quickly to the introduction of new technology to ruthlessly exploit weaknesses they find in systems, services and processes. Two-factor authentication and robust banking procedures have helped to prevent criminals from acquiring £2 out of every £3 they try to take, but there is constant probing by gangs as the potential profits from a successful scam can be huge.
A cloud-based UK challenger bank has revealed the critical role of partners including Microsoft in taking it from ‘birth to banking’ in less than six months. Redwood Bank partnered with Microsoft to deliver an IT system that was completely internet-based from the moment it opened its doors in August 2017. Redwood’s chief executive officer and co-founder, Gary Wilkinson, said: “We are very proud that Redwood Bank was not only ‘born in the cloud’, but also achieved one of the fastest ‘licence-to-launches’ in UK banking history.
A cloud-based UK challenger bank has revealed the critical role of partners including Microsoft in taking it from ‘birth to banking’ in less than six months. Redwood Bank partnered with Microsoft to deliver an IT system that was completely internet-based from the moment it opened its doors in August 2017. Redwood’s chief executive officer and co-founder, Gary Wilkinson, said: “We are very proud that Redwood Bank was not only ‘born in the cloud’, but also achieved one of the fastest ‘licence-to-launches’ in UK banking history.
Volvo Cars has launched a new fund aimed at investing in high-potential technology start-ups around the globe. The aim of the Volvo Cars Tech Fund is to invest in strategic technology trends that are transforming the automotive industry, such as artificial intelligence, electrification, autonomous driving and digital mobility services. The Tech Fund’s first strategic investment is a seed round investment into a California-based technology firm developing advanced sensors.
Volvo Cars has launched a new fund aimed at investing in high-potential technology start-ups around the globe. The aim of the Volvo Cars Tech Fund is to invest in strategic technology trends that are transforming the automotive industry, such as artificial intelligence, electrification, autonomous driving and digital mobility services. The Tech Fund’s first strategic investment is a seed round investment into a California-based technology firm developing advanced sensors.
Established finance providers are using a vast array of start-ups as a breeding ground of innovation to accelerate their own digitalisation developments through acquisition and partnerships, according to a new report. The report, 'Beyond Fintech: A pragmatic assessment of disruptive potential in financial services', argues that while fintechs have changed the basis of competition in financial services, they have yet to materially alter the competitive landscape.
Established finance providers are using a vast array of start-ups as a breeding ground of innovation to accelerate their own digitalisation developments through acquisition and partnerships, according to a new report. The report, 'Beyond Fintech: A pragmatic assessment of disruptive potential in financial services', argues that while fintechs have changed the basis of competition in financial services, they have yet to materially alter the competitive landscape.
Fast-growing fintech firm MarketInvoice has launched a new business loans service that expands its solutions beyond invoice finance. Businesses will now be able to obtain unsecured business loans from £10,000 to £100,000 over a 12-month term, with no early repayment fees.
Fast-growing fintech firm MarketInvoice has launched a new business loans service that expands its solutions beyond invoice finance. Businesses will now be able to obtain unsecured business loans from £10,000 to £100,000 over a 12-month term, with no early repayment fees.
Fintech start-up Fair, which offers a fully-digital, flexible leasing app, has announced it is closing a strategic funding round led by BMW i Ventures that includes investments from Penske Automotive Group and other strategic investors. Fair plans to grow its presence from Los Angeles to the rest of California by the end of 2017, and to other selected US markets through 2018. Fair customers can order a ready-to-pick-up pre-owned car from anywhere in minutes, without any physical paperwork, by scanning their driver’s license, linking a bank account, and signing in the app.
Fintech start-up Fair, which offers a fully-digital, flexible leasing app, has announced it is closing a strategic funding round led by BMW i Ventures that includes investments from Penske Automotive Group and other strategic investors. Fair plans to grow its presence from Los Angeles to the rest of California by the end of 2017, and to other selected US markets through 2018. Fair customers can order a ready-to-pick-up pre-owned car from anywhere in minutes, without any physical paperwork, by scanning their driver’s license, linking a bank account, and signing in the app.
Auto fintech disruptor Cazana has held talks with potential investors and customers in the US as part of expansion plans that could more than triple its size. Cazana is currently the UK’s largest car search and indexing engine for used cars, having amassed data on all 37 million cars on the road and obtaining values for 98% of them. It currently has 600,000 UK vehicles listed for sale on its website.
Auto fintech disruptor Cazana has held talks with potential investors and customers in the US as part of expansion plans that could more than triple its size. Cazana is currently the UK’s largest car search and indexing engine for used cars, having amassed data on all 37 million cars on the road and obtaining values for 98% of them. It currently has 600,000 UK vehicles listed for sale on its website.
Two fintech firms are collaborating to help SMEs identify impending cashflow problems and obtain the funding required to return them to health. CaFE, a cashflow monitoring application, is partnering with FloFunder from invoice finance company PeerPay, a platform that matches firms requiring cash with businesses or individuals who are willing to invest.
Two fintech firms are collaborating to help SMEs identify impending cashflow problems and obtain the funding required to return them to health. CaFE, a cashflow monitoring application, is partnering with FloFunder from invoice finance company PeerPay, a platform that matches firms requiring cash with businesses or individuals who are willing to invest.
Ford is developing plans to launch machine learning-based credit approvals in its auto finance business following successful trials in a move which could unlock a $1.4 trillion market of consumers who might otherwise be denied loans.
Ford is developing plans to launch machine learning-based credit approvals in its auto finance business following successful trials in a move which could unlock a $1.4 trillion market of consumers who might otherwise be denied loans.
