Dave Sutherland

A new SME insights report by Dojo has revealed that an estimated 110,940 SMEs are at risk of going bust due to having no cash left to support business operations. Read more in this Credit Connect UK article here: https://lnkd.in/dVjPm3sc #CreditManagement #SME #Business #News

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Interesting read on Starlings SaaS and how it is helping new banks launch.

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Over the past three years, Consumer Duty has been a major focus in the financial services sector, aiming to transform the culture from top to bottom. However, it’s crucial that we ensure established practices remain strong and that we all continue to uphold high standards. Take, for example, the gentleman I observed on a train last week. Despite holding a senior position in his company, he was working on a presentation without a screen protector on his laptop. His presentation included sensitive information such as P&L, year-to-date sales with margins, prospects, pipeline history, marketing indicators, and headcount. This highlights the importance of maintaining security and professionalism at all times. #risk #consumerduty #vulnerability #financialservices #afm #bsa

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Today we publish our results for Starling Group’s financial year ending 31 March 2024. I’m delighted to share that we’ve achieved our third year of profitability, driven by strong growth in revenue, deposits, active customers and customer transactions. Profit before tax rose 55%, from £194.6m to £301.1m. Every part of our Group contributed to this success. Starling Bank added 600,000 accounts and our customers spent nearly £20bn on their Starling cards. Fleet Mortgages expanded its portfolio by 51% to £2.3bn. Engine by Starling signed its first two clients and became a revenue-generating business with enormous global potential. We have continued to differentiate ourselves from the competition through user-friendly technology backed by our brilliant, UK-based customer service teams. Great service is fundamental to who we are and to our success. It’s what attracted those new customers to us and it’s what enabled us to win so many awards. All of us should all be proud that we are the Which? banking brand of the year for the fourth year in a row and a recommended provider for current accounts for a fifth straight year. - Group profit before tax up 55% to £301.1m - Revenue up 51% to £682.2m  - Total deposits up 4% to £11bn - ROTE now stands at 31.5% for the Group - Our NIM increased to 4.34% - We now serve 4.2 million customers in the UK Starling Bank and Engine by Starling

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IDLC Finance PLC. reported a consolidated net profit after tax of Tk1,254 million for the first three quarters of 2024, reflecting significant growth of 25.30% compared to the same period last year. Earnings per Share also saw a notable increase of 25.30%, reaching Tk3.02 for the period. During these nine months, customer deposits grew by 2.30% compared to 2023, totaling Tk82.32 billion. The group strategically focused on optimizing portfolio quality to emphasize sustainable growth by ensuring optimal loan book size. As of the end of September, the portfolio stood at Tk111.7 billion. Despite recent economic and political challenges, both at home and abroad, IDLC managed to maintain an annualized ROA of 1.14% and an ROE of 8.65% (compared to 0.88% and 7.29% respectively, booked for the same period last year), demonstrating improved efficiency compared to the previous year. The Non-Performing Loan (NPL) ratio, while slightly higher at 4.98%, remains well below the industry average, with a coverage ratio of 100.72%. The coverage ratio indicates the extent to which the non-performing loans are covered by provisions, reflecting the group's ability to manage potential credit losses effectively.

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The case remains for the Bank of England to start cutting rates With over two decades of experience in financial advisory and asset management, Nigel Green, CEO of deVere Group, advocates for the Bank of England to initiate interest rate cuts this summer, despite mixed UK inflation signals. Highlighting the potential benefits such as reduced mortgage payments, increased consumer spending, and stimulated economic growth, Green emphasizes the importance of proactive measures in the current economic climate. His insights underscore the significance of aligning with global trends to maintain competitiveness and foster confidence among businesses and consumers. Join the conversation and share your insights! The case remains for the Bank of England to start cutting rates (investorideas.com)

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Thanks to https://www.jmoon.co.uk/ for delivering probably the single most useful training i have received in a decade. it's easy to make topics complicated. Jon shows you how to make them simple, which is much harder, and is massively under rated as a skill.

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All manufacturing businesses should reflect on the changing demands of their clients and ultimate end users and adopt a operational strategy that takes advantages of all manufacturing technologies that delivers their product cost efficiently whilst also focusing on profitability. #manufacturing #lombard

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Looking to elevate your career in financial services? Becoming a certified financial planner in the UK is a brilliant move. Here's your roadmap to certification: ✅ Research the Role Understand the responsibilities of a financial planner. It's not just about crunching numbers; it's about crafting financial strategies that change lives. ✅ Qualifications A degree isn't always necessary, but a Diploma in Regulated Financial Planning is your golden ticket. It's the industry standard and a solid foundation for your journey. ✅ Work Experience Get your feet wet with relevant work experience. It's about applying theory to real-world scenarios and learning from seasoned professionals. ✅ Certification Aim for the Certified Financial Planner (CFP) certification offered by the Chartered Institute for Securities & Investment (CISI). It's the gold standard that sets you apart. ✅ Continuous Professional Development Stay sharp. The financial world never stops evolving, and neither should you. Regular CPD ensures you remain at the top of your game. Embarking on this path? Share your experiences or get in touch to discover how we can support your career progression. 🚀 #FinancialPlanning #CareerProgression #Certification

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Exporting or importing…read on…

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Really interesting to read about TISA's new select ID scheme. Allowing customers to select their preferred Digital ID provider, this will not only simplify the customer jounrey and reduce fraud but forge the future of Digital ID within the industry. http://spr.ly/6044ewNTj

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So, following on from a Great Q&A Sophie Hossack had with AccountingWEB.co.uk this past week (https://lnkd.in/es9cy99h).  It got me thinking what we do as a team, but most importantly what value we provide our accounting partners, here are some below: ·      A genuine SME focused banking solution for their clients 🏦 ·      Marketing opportunities 📰 ·      Newly launched Partner Directory 📜 ·      Networking opportunities 📱 Why is value so Important? Accountants always speak of how when they are providing value to their clients, this is where they build the best working relationships. So, we thrive being an extension of our partners relationships and supporting the journey with our range of banking products. Its really rewarding as a team to be able to provide such value to our accounting partners and their clients. We have had such great feedback from our current partners and their clients they have referred. If this is something you would like to hear more about or partner with us! Please do drop me a message. #smes #fintech #partnerships #growth #accountants #bookkeepers #banking

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Current account customer satisfaction tables are often interesting! No major surprises here, as fintechs Monzo Bank, Starling Bank and Chase do well, as does Nationwide Building Society. With Virgin Money and The Co-operative Bank plc doing badly, I wonder how the takeovers by Nationwide and Coventry Building Societies will impact their performance?

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I see more and more signs like this. Why? Because, as bank branches close and take their ATMs with them, there are fewer and fewer LINK Scheme Ltd ATMs to be found - and shops are not properly rewarded for their increased role in delivering cash to the British public. “Cash Back” wasn’t much used a few years ago and when it was used, it was invariably as a “top up”, in between regular cash withdrawals from ATMs. So traditionally Cash Back was in the £20 to £30 range, in a local Convenience Store or Newsagent. Now, with often no convenient ATM to be found and regularly used, the public using Cash Back want more. Here you will see the charge for £100, which is around the current average value of a UK ATM withdrawal, is £2. There is a scheme to offer free Cash Back but only a small percentage of retailers are taking part in it because the payment they receive is far too low. As the Payment Choice Alliance has pointed out in a document delivered to the both The Labour Party and the Financial Conduct Authority, the problem has arisen because anti-cash HM Treasury Ministers studiously avoided dealing with the economics of cash supply in their pathetic Policy Statement on Cash Access. It was an obvious and crass omission, as was their failure to mention ATMs, which continue to deliver 95% of the cash used by the British public. Let’s be clear. Non-bank ATM operators - including Building Societies like Nationwide Building Society - need to be properly rewarded for delivering cash to bank customers, customers who can’t now get the cash they want from their own banks closed branches and deinstalled ATMs. Post Office Ltd also needs to properly rewarded for delivering cash to bank customers. As do shops, who are now being asked to do much more via Cash Back, as bank ATMs disappear. The Payment Choice Alliance has produced a detailed proposal covering ALL cash delivery channels, a proposal that creates an economically viable reward structure for EVERY supplier of cash to bank customers. This proposal will ensure the British public can get all the cash they WANT and NEED, in their local community. We are looking forward to discussing it with the new government in July. Keir Starmer Rt Hon Rachel Reeves Tulip Siddiq Darren Jones MP - Chair, Business, Energy and Industrial Strategy Committee Tesco Sainsbury's British Retail Consortium Association of Convenience Stores Federation of Small Businesses (FSB) Petrol Retailers Association

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Moving your head office is always a big step and at the start of June, the UK Infrastructure Bank will move to a new permanent head office in Leeds city centre. For us, the significance of this goes way beyond bricks and mortar. Signing a 15-year lease is symbolic of our commitment to Leeds and to being part of the formidable financial services ecosystem that is continuing to evolve here. Throughout my 30-year career in financial services, I have worked in many cities, ranging from Hong Kong to New York, Istanbul to Geneva, and both London and Swindon! They all have their strengths and attractions. But what makes Leeds so brilliant for financial services is the concentration of key talent across sectors – accounting, legal, consulting, audit, technology and digital - all in close proximity. Add on Leeds’ excellent academic, cultural and sporting institutions, and go-ahead local and combined authorities, and it’s unsurprising that Cabinet Minister Michael Gove labelled the city ‘a key economic pillar not only of the North but the United Kingdom as a whole’, while the Sunday Times called Leeds the best place to live in the north and northeast of England. Of course, it’s a two-way relationship. If the Bank benefits from all Leeds has to offer, we should give something back. As we have recruited, we have been able to offer opportunities for career development to many highly skilled people across the West Yorkshire region, helping build up a reservoir of talent that should benefit the city region and its economy for many years to come. While we have modest offices in Edinburgh, Cardiff, Belfast and London, of our 248 permanent roles, 95% are contracted to work from our Leeds headquarters. We are also playing an active role in the development of the city. Noting Leeds is the largest city in Europe without a mass transit system, our local authority advisory service has supported West Yorkshire Combined Authority in exploring financial and commercial models to deliver this much needed infrastructure. We are excited by the recent report ' A Vision for Leeds', published jointly by the Department for Levelling Up, Housing and Communities, the West Yorkshire Combined Authority, and Leeds City Council - and the opportunities that this brings. https://lnkd.in/ehsPRABd To return to our impending move to office space at 2 Whitehall Quay, this is the next step in our evolution as we move out of our interim space, in line with our initial set-up plans.  This new office will enable us to accommodate our colleagues, and to continue our co-location with the Low Carbon Contracts Company and National Infrastructure Commission. We are really excited to be making this move. But we are even more excited about the foundation this provides us to play a role in the development of such a vibrant, innovative and energetic city for many years to come. https://lnkd.in/e46HHPEV https://lnkd.in/e4jGMXWV #Leeds #Yorkshire #ukinfrastructure #uknetzero #levellingup

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🚨 Last chance to subscribe for your complimentary print copy of B&C Magazine! 🚨 This upcoming issue is not to be missed, packed with exclusive insights from industry leaders on the trends reshaping the specialist finance market. We’re thrilled to feature Neal Moy, MD of development finance at Paragon Banking Group PLC, who shares how ESG has played a major role in their success. 🌍💡 Subscribe today to get the full article and so much more! Don’t miss out 👇 https://lnkd.in/eygAj775 #SpecialistFinance #ESG #DevelopmentFinance #PropertyFinance #RealEstate

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Ever wanted to know how to grow your business internationally? Join our live Webinar to understand the practical steps you need to consider to grow your business globally. European EMC Products Limited Make UK Department for Business and Trade

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AJ Bell disallow app trading for Aquis..... someone at AJ Bell is doing my marketing job for me! 👌 Melissa Sturgess is the chief executive of Ananda Developments Plc (AQSE:ANA), an Aquis-listed (on the Apex segment) pharmaceutical company focused on the development of CBD-based medications. She found out on Thursday that AJ Bell has suspended in-app trading and would only allow phone purchase of shares so they could 'highlight the capital risks'... Melissa was not happy: 😡 "A J Bell Securities Limited you are a disgrace to disallow app based buys of Aquis Exchange stocks. At a time when we are all trying to build and support small caps in the UK you do this". 😱 😥 Looks like the publicity and outrage has forced a u-turn - "UPDATE : full online trading now reinstated for Ananda and all stocks quoted on the Apex segment of Aquis. Thank you everyone who wrote and supported this effort. Especially to the Ananda shareholders who wrote to me. You made the difference" I have talked about how UK markets and second tier markets in general are suffering because big online brokerages want you to trade, but are agnostic what you trade in. It makes sense.. "Keep buying Nvidia, British Gas etc and we will just sit on our annual fees thank you very much. Dont get involved with those horrible little businesses on the tiny little markets...they are bad, and we don't think you should be trading them". It's partly the FCA's fault, no doubt AJ Bell saw that as a smart move for 'Customer Outcomes' compliance where you essentially get FCA gold stars based on how difficult you make it for people to take risks. Fear not Aquis Exchange and Melissa Sturgess, Exlayr | ASMX Group connected platforms will be launching soon and we would be happy to chat to the exchange about connecting to our network and to Melissa and other small listed companies about how we will be supporting small companies throughout the world, including the UK. Our belief is that transparency is key, yes highlight the risks, but also increase information flow from issuers to potential investors so that they can make up their own minds. The boss of the FCA (who I shall not name, it's like a Beetlejuice thing) recently did a speech where he said 'It's time for an enlightenment on financial inclusion' I wonder when that is scheduled to start? 🤐 #aquis #asmxgroup #smefinance

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