Struggling Co-op Bank is up for sale, but analysts warn nobody may want to, or be able to, buy February 13, 2017 The Co-operative Bank announced this morning it was putting itself up for sale, but analysts have warned it might be tricky to find somebody to snap up the struggling bank. The bank, which is currently 20 per cent owned by the wider Co-operative Group, had been undertaking an ambitious turnaround plan, after a £1.5bn black hole [...]
Lloyds Banking Group eyes Berlin for new EU base post-Brexit February 13, 2017 Lloyds Banking Group is closing in on Berlin as its new EU hub post-Brexit. It was reported last December that the bank, which is the only major UK retail lender without a subsidiary in another EU country, was looking into establishing a base in either the Netherlands or Germany to make sure it still had access [...]
Fidessa shares rise after being boosted by a year of change February 13, 2017 Fidessa's share price jumped nearly four per cent after revealing it was well placed to take advantage of regulatory and structural change and posting "solid" full-year profit growth. The figures Revenue at the trading software firm for the year to December 2016 grew by 12 per cent to £332m, although this was three per cent growth based on [...]
Here’s who could buy the Co-operative Bank February 13, 2017 The Co-operative Bank has kicked off the week with big announcement: it's put itself up for sale. The bank said it was seeking a buyer after making "considerable progress implementing its turnaround plan" – the lender famously faced a near collapse in 2013 when it admitted to a £1bn black hole in its finances. Co-op [...]
Co-operative Bank and Capita resolve differences after row over £325m contract February 13, 2017 The Co-operative Bank and Capita have resolved their differences after a public spat over alleged failings regarding a £325m servicing contract. The lender sold its mortgage servicing company, Western Mortgages Services (WMS), to Capita in November 2014 for £25m. The deal was followed by a 10-year contract for Capita to service the Co-operative Bank's mortgage book by [...]
Now Santander lets you make payments using just your voice February 13, 2017 More proof that voice control is the future… Santander is now letting customers make payments just by asking their phone, along with several other new functions that work in a similar way to Apple's Siri or Amazon's Alexa Users of the bank's SmartBank app can use their voice to check their account balance, report a lost [...]
Co-op Bank’s message to customers: It’s business as usual February 13, 2017 The Co-operative Bank has moved to reassure customers after announcing it's putting itself up for sale. The bank said this morning it is seeking a buyer "alongside other options", three years into a turnaround plan put in place after the lender revealed a £1.5bn black hole in its finances. In a message to customers of the [...]
The Co-operative Bank has put itself up for sale February 13, 2017 The Co-operative Bank has put itself up for sale after making "considerable progress" on its turnaround plan that saved the lender from near-extinction in 2013, it said this morning. A number of US hedge funds came to the rescue of the ethical lender four years ago, bailing it out after the lender revealed losses of £600m [...]
New hub to help grow UK’s £6 billion fintech sector February 13, 2017 | City Talk A new specialist fintech hub, backed by the UK and Scottish governments, will open its doors to entrepreneurs in May 2017. The hub will be the first of its kind in Scotland and will be based in Entrepreneurial Spark at Royal Bank of Scotland’s base in Edinburgh. It will launch one year on from the [...]
Banks stumbling over hurdles as they race to embrace cloud technology February 13, 2017 Worries about overseeing risk and concerns over security breaches are among the hurdles preventing banks from taking up cloud technology as quickly as other firms, according to a study released today. The report by law firm Pinsent Masons and the British Bankers' Association (BBA) highlights how lenders could become more agile and reduce their costs by using [...]
