Dean Fiveash

The Lending Standards Board Adds SME Lender iwoca to Business Standards Registration Seema Desai, Chief Operations Officer at iwoca added: “Our registration with the LSB’s business Standards provides assurance to our customers that we continue to put fair treatment of our SME customers at centre-stage, and is a sign of our commitment to the highest standards of conduct.”  https://lnkd.in/eYjvBSma Emma Lovell Brian Clarke Olivia Bamber Anna Roughley Mark Di-Toro Farah Sisalem Quentin Rouillon Fred Kisielewski #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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🚨Best merchant acquirer at the 2024 payment awards 🚨 The Swift Payment Solution in partnership with Dojo have been back to the drawing board to see how we could help many more customers who take card payments happy😀 & here is how we are going to to do it⬇️ 1. Already taking card payments? well switch to us & we will cover the cost of your terminal fees for the lifetime of being a customer🚀 2. Don’t like the cost of the rental of the terminal? well you can now buy the terminal outright, which means you pay no terminal fee. & you will then own the terminal 😎 3.Don’t need a terminal? well that is also fine move over to us & just use your iPhone to take payments. 4. We hear you you do not want to be locked into a contract? well that’s fine move over to us on our 30day rolling!! 5. Want guaranteed rates?? great let’s lock you in for 12 months.🔒 Not forgetting some of the great benefits on offer like⬇️ •Money 365 days a year •Intergration into your EPOS •Online payments •5* customer service *Business funding Let’s give your business the tech upgrade it deserves before Christmas 📞 07983 124 180 📧[email protected] The Swift Payment Solution #freeterminal #upgrade #offer #free #getdojo #kiosks #tapandpay #uk #cardpayments

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Larger Loans for SMEs: Applications for Loans Over £100k Grow by Half as SME Optimism Returns Colin Goldstein, Commercial Growth Director of iwoca, said: “The UK’s SME lending market is experiencing a resurgence. We’re seeing a significant rise in loan applications, with many businesses seeking larger sums to invest in growth. This coincides with low recession fears amongst SMEs – a positive sign that could point to a stronger year ahead for our economy and the small businesses underpinning it.” https://lnkd.in/eMHgJ959 Sally Chesterton DipAF Tehmina Mirza 💜 #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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EBA CLEARING launches latest VOP solution. The new solution aims to support payment service providers (PSPs) by offering verification of payee services, which aligns with the instant payments regulation https://lnkd.in/dnbV-b4u #fundadmin #Custody

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Very interesting article in the Financial Times which sums the situation up perfectly. The new entrants have moved the market on with the services delivered, however despite being used for their "free" or innovative services, users still remain wedded to the incumbents. https://lnkd.in/eR3kaGXV

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#UK #Payments Industry Seeks Further Reduction of #Fraud-Reimbursement Cap #financialservices #fintech #banks #banking #ecommerce #digitaltransformation #FintechLive #FTWLondon #Finovate https://lnkd.in/eZny7THY

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Broken Business Savings Market Is Costing British SMEs £9 Billion a Year in Missing Interest Richard Davies, CEO of Allica Bank, said:  “There’s no question the SME savings market is broken. “The fact the SME savings penalty has got larger since we first did our research last year – while the Bank rate has reduced slightly – is a travesty many SMEs will find hard to understand. “It’s very unfair SMEs don’t get similar rates to large companies, and our research suggests big banks won’t be improving their rates for SMEs any time soon. “It’s time for something to be done to make that change, get SMEs a better deal and release billions of pounds into the real economy.” https://lnkd.in/eqAmuVCf Chloe Fenton (née Vaidya) Georgie Burks Joe Jones James Heath Ravneet Shah Conrad Ford Mitch (Munish) Trehan Nick Baker #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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UK’s Largest Independent Payments Broker Launches Tech-Enabled Cash Service to Boost SME Cash Flow Richard Bradley, CEO of acceptcards® Independent Payment Experts and Accept Cash, said: “The cost and time implications of depositing cash is currently squeezing SMEs financially and operationally. Not only does it take time out of a working week for a staff member to cash up and physically go to a bank, it’s also increasingly difficult to do so given the rise in high street banking closures. Added to this, the fees associated with depositing cash can be very high, making it difficult for SMEs – who want to be able to offer cash to their customers – to balance the books and forecast cash flow. “As an independent payments broker, we pride ourselves in disrupting this sector with the latest innovations in technology. Cash is here to stay and we’ve identified that SMEs need to be able to deposit cash quickly and affordably. Accept Cash’s innovative approach and use of new technology will allow businesses to access cash in their bank accounts on the same day – without having to visit a bank – by combining open banking and technology with secure smart safes. We’re pleased to be one of the very few providers in the UK to offer this same day settlement service and respond to demand. “Not only is Accept Cash the perfect solution to solving a big headache for businesses processing cash, it is likely to also encourage some businesses who have moved away from cash to return to accepting it. Ultimately, consumers need to have the choice of both cash and card payments and this should not be prohibitive in any way for SMEs; after all, they remain the backbone of the UK’s economy.” https://lnkd.in/ervZ2Jku Martin Smith Kayley Worsley MCIPR Jason Costello Richard James West #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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New Programme From Responsible Lender Creditspring Helps Unlocks Access to Affordable Credit Neil Kadagathur, CEO and Co-Founder at Creditspring, comments: “Across the UK, there are groups of people who find it difficult to access affordable credit, notably those who are new to the country, have limited credit history, or a poor credit rating due to past debt. Creditspring Go is a simple solution that will help these groups build their credit profile and access affordable credit safely, while supporting them with the information and tools needed to build their financial resilience for the long term.”  https://lnkd.in/e9S2Bwum Kitty Guillaume Jessica Skinner Jonika Lewis Puja Rohra Vance Chau Aditya Surana #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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To summarise the points which were made during our #a2apayments #acocunt2account #payments panel at the #PLSUK this week: 1. The benefits of a2a payments are multiple - less #disputes, #fraud more liquidity due to faster settlement, lower costs and great customer experience 2. However, #merchant adoption really varies country to country and consumers are just not used to this payment method in the UK yet, although some merchants are acting as trailblazers! 3. Some checkouts lend themselves better to a2a payments than others, we talked about in-car payments as an example where changing a payment method is very difficult 4. And finally we talked about how the regulators and regulations such as #PSD3 can help by standardising and expanding the market. Thank you Andre Moeller, Ferdinand Dabitz, Kaloyan Yanchev and Sean Forward for your lively participation and to Laura Lewis for inviting us! PS and Andre Moeller you win the coolest dressed category hands down!

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ThinCats Passes £2bn Funding Milestone for UK SMEs Mike Hackett, Chief Commercial Officer at ThinCats: “This milestone reflects ThinCats’ dedicated approach to the mid-size market and support for the local finance community with whom we work in partnership to help mid-sized businesses thrive. ThinCats’ commitment to regional investment has been a critical driver of growth and we have built up experienced teams across our network of regional support offices, and they work hard to deliver flexible funding solutions for mid-sized businesses across the UK”.   https://lnkd.in/eqMUA4Jk Daisy Knight Ricardo Bougi Ravi Anand Gary Nutley Beth England Diana Portman Stuart Thompson Amany Attia #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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NatWest Group Innovation Team Launches New Fintech Growth Programme David Grunwald, Director of NatWest Innovation: “This programme lays a pathway to create better outcomes for our customers. Working this closely with fintechs and UK entrepreneurs strengthens our ability to be future focused, while supporting the growth of the innovation economy. https://lnkd.in/dUxyjfKJ Stephanie Melrose Mark Brant Olivia Dwyer Jennifer Tippin Niro Nirmalan Jonathan Hall Victoria Cleverley Margaret Jobling David Lindberg #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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There’s lots to like about the now published #NationalPaymentsVision for the UK… I can recognise a number of priorities and challenges The Payments Association (and others) have been talking about for some time. That in itself, is hugely encouraging. The Government is listening. A UK Government making a commitment to collaboration, and that sees the importance and opportunity of the Payments industry, is incredibly positive and something I applaud. On initial reading, some key points within the detail: The vision - “A trusted, world-leading payments ecosystem delivered on next generation technology, where consumers and businesses have a choice of payment methods to meet their needs.” ·      “Payments Vision Delivery Committee” – Senior representatives from the FCA, PSR, Bank of England, and chaired by HM Treasury. ·      Innovation, Competition and Security (3 key pillars driving all activity) ·      BoE and PSR will lead on requirements for upgrades/replacements for FPS and UK retail payments infrastructure. Approach agreed no later than end Q2 2025 ·      Reforming of PAY.UK ·      Coordination between regulators needs to improve - the government is concerned that the collective impact is hampering the sector’s capacity for innovation and growth. ·      Commitments to ‘explore’ CBDCs and a Digital Pound ·      Government support for adoption of digital identities in financial services ·      Priority initiatives in Open Banking and Fraud (Financial Crime) o  PSR commits to 12 month review of APP R after 12 months (plus recognition of role of tech and telcos) o  Regulators to examine data sharing initiatives across the financial services sector. o  Adequate consumer protection must be delivered for Open Banking payments, and the government intends to address this through introduction of a dispute resolution process o  The FCA is to be the UK’s regulator on Open Banking ·      A push to boost cross-border activity and international interoperability, but not at the expense of consumer protection or financial stability. Now is the time for #action and #delivery.  The Payments Association will play it’s role, and looking forward to working with government, regulators and the wider industry to support this vision. https://lnkd.in/e6RsUU7r

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New Report Indicates UK SMEs Are Optimistic About the Future Corin Camenisch, Product Marketing Lead at SumUp commented on the survey: “As champions for small merchants, we conducted this survey to discover the confidence levels of small business owners and decision makers in the UK to better understand the challenges they face, gauge their optimism about their future, and identify areas where support for SMEs might be needed. “Overall, confidence levels of small business owners and decision makers across the UK are high. This positive outlook suggests that small merchants are prepared to navigate potential uncertainties and continue to thrive. “We have provided tips off the back of our findings for those just starting out in business, or who are looking to deal with unexpected market fluctuations on our full campaign page.” https://lnkd.in/e975UtrF #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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I am taking part in a webinar in a couple of weeks alongside AccessPay. As part of that I am keen to know what people think are the most important factors that an organisation considers when choosing the right #payments solution. In this case specifically #bacs and #directdebit. Is it price/ service/ customer experience/ cashflow. I suspect it is all of those things to a degree. Do people tend to look at the most important factors or go for the easiest/ cheapest/ obvious option. Let me know what you think, it will help inform the discussion. Thanks.

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The Payments Association Launches Its Manifesto, Calling for a National Payments Plan Tony Craddock, Director General, The Payments Association, said: “A review to produce an NPP to ensure the delivery of the government’s NPV&S is critical to ensuring the new infrastructure and legal system underpinning it is appropriate, aligned to the vision, adaptive to change and supportive of the common goal of enabling economic growth and stability in an inclusive, liberal society.” “As the Deputy Governor of the Bank of England wrote, ‘One contribution the Bank of England can make, working with industry, is to redouble our efforts on innovation in money and payments — modernising trains and rails, as the fundamental infrastructure for commerce and the digital economy”. I believe that achieving the Bank’s desired retail payments outcomes will require clear and renewed leadership from UK authorities and the payments industry.” “Our community at The Payments Association is committed to supporting the government and its authorities to produce a compelling, whole-ecosystem NPP by engaging with members from across the payments value chain, from retail stablecoin issuers to cash schemes, in this critical work. Together, I look forward to entering an exciting new era for payments.” https://lnkd.in/exg_pHfF Isabelle Smith Ben Agnew Keri Farrell Billie Pursey #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Leading Fintech Armalytix Partners With Birchall Blackburn Law to Streamline Property Transactions Tom Lyes, Head of Legal and Property Services at Armalytix, said, “We’re not just providing a tool, but a comprehensive solution that transforms how legal teams work with financial data. Our partnership with Birchall Blackburn Law demonstrates the powerful potential of technology to streamline complex financial processes.” https://lnkd.in/e23brJ-X Andrea Fairweather Mariam Kamel Ilva Letoja Jason Oates Mike Ward Richard McCall Matt Ward #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Credit card processing fees & rates for UK merchants 2024 Stay ahead of the game by understanding these key points: 1. Interchange Fees: Paid to card-issuing banks; varies by card type and transaction method. 2. Gateway and Processor Fees: Essential for completing transactions; additional costs apply. 3. Monthly and Hidden Charges: Be mindful of fees that could impact your bottom line. 4. Negotiating Rates: High transaction volumes can leverage better rates. For more detail, check this link below: https://lnkd.in/e8wGXVWQ

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