Ronan O'Dea

From Crisis to Opportunity The COVID-19 pandemic presented unprecedented challenges for businesses in the UK and around the globe. GC Business Finance needed a solution fast and that's where GoodCore Software Limited stepped in and delivered a digital transformation that helped them survive and thrive. Discover how our loan management platform enabled them to offer swift, efficient lending services during the pandemic and beyond. Learn more about this success story 👉 https://lnkd.in/dDhtie_7 #FinTech #LoanManagementSoftware #WebAppDevelopment #BespokeSoftware

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As businesses face delayed payments and cash flow challenges, adopting commercial cards and automated accounts receivable (AR) solutions can provide much-needed relief. By staying informed about technological advancements and choosing the right partners, companies can enhance their financial stability and operational efficiency by empowering their own AR teams. At Previse, our solutions combine smart data with automation technology to get suppliers paid as early as day one, giving suppliers greater working capital and allowing them to remain agile and navigate this uncertain climate. Learn more about Previse’s solutions here: https://previse.co/en-gb/ Read more about how commercial cards and automation are transforming AR in PYMNTS: https://lnkd.in/ejcR7QxN #AI #technology #virtualcards #accountsreceivable #innovation #machinelearning #automation

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🚀 How can we help secure growth for the UK's 5.6million SMEs? Simply Asset Finance COO Ylva Oertengren recently spoke with Yahoo Finance’s Future Focus to share strategies and solutions for SME growth. From investing in technology and skills to securing flexible, tailored finance solutions, Ylva highlights how partnerships between financial institutions and specialist lenders could help SMEs to spur growth and unlock economic recovery. Watch the full interview to hear more: https://lnkd.in/ews-DbgK #SMEs #BusinessGrowth #FinanceSolutions #SimplyAssetFinance

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Monzo Bank's former employees request participation in secondary transaction, according to a report. Existing investors, StepStone Group and GIC, will participate as buyers in the sale, that at present is only available to current employees. TS Anil | Gary Hoffman #Secondaries #SecondaryMarket #AlternativeInvestments #PrivateMarkets #Deals #Venture #VentureCapital #VC https://lnkd.in/d4SQjwQ7

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Are you looking to grow your emerging markets payments business among UK SME and mid-market businesses? If yes, focus on your knowledge and advice around emerging market risk and mitigation, and then own that space through thought leadership, comms, marketing, storytelling and sales collateral. (We advocate underpinning your thought leadership with reputable voice of the customer insights and analytics so you stand out from the crowd and bring real value to the market, but you do you). Nominated by 40.5% of the full market, reaching as high as 60% among businesses with turnover between £20-100m, knowledge of market risk and mitigation is the number 1 attribute UK businesses are looking for from their payments provider when doing business with emerging markets. Businesses today are all about minimising their risk and losses, talk to them about it.

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We are pleased to share key insights from the Asset Finance Connect UK Summer Conference 2024, focusing on how lenders can better support SMEs. The panel of industry experts included Martin McTague OBE, National Chair of the Federation of Small Businesses (FSB), who emphasized significant challenges faced by SMEs in securing funding, particularly due to the widespread use of personal guarantees (PGs). PGs are seen as a major deterrent, with 70% of SMEs preferring slower growth over external finance due to the risks involved. The FSB has prompted the Financial Conduct Authority (FCA) to investigate the use of PGs, though the regulator’s current response has been limited. Asset finance lenders on the panel highlighted the need for selective use of PGs, particularly in asset finance where PGs are typically required only for new-start businesses or unsecured loans, and pointed out that PGs should be used judiciously to fill gaps in asset finance agreements. McTague noted that there is a call for better practice rather than a blanket ban on PGs, and financial institutions need to clearly communicate the implications of PGs to SMEs. The session also included an interview with Simon Evans from the Consumer Redress Association (CRA) who discussed the evolving role of CMCs in ensuring consumer protection and addressing complaints efficiently. Despite past adversities, CMCs could collaborate with lenders to enhance consumer focus and resolve issues amicably. You can read the summary of proceedings in full, along with an analysis from David Betteley, AFC’s head of content, at https://lnkd.in/e8dcByen Nathan Mollett Graham Lines Daniel Bailey

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UK lenders face a tough balancing act: keeping payments secure while running efficient operations. Confirmation of Payee (CoP), launched to fight fraud, has become a vital tool, helping lenders verify account holders before transactions go through. 💡 What does CoP do? It verifies that the account name matches the recipient, giving lenders confidence in their transactions and helping prevent fraud. Since 2020, CoP has not only reduced the risk of APP fraud but also enhanced customer trust and streamlined operations for lending businesses. 💡 The impact? £200 million in fraud prevented, 400+ providers onboarded, and mandatory implementation in October this year. 📲 Curious to learn more? Read the full article for an in-depth look at how CoP is changing UK finance: https://lnkd.in/enJTPxp4

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At FinTech Scotland, we share the belief that fintech is a force for good, creating meaningful, positive change across the financial landscape. Today, we are proud to support our collaborative partners at Innovate Finance as they host the FinTech as a Force for Good Forum, an event showcasing how innovation can drive solutions to global challenges like financial inclusion, climate impact, and economic empowerment. As a hub for fintech innovation in Scotland, we are deeply committed to harnessing the power of collaboration to transform consumer outcomes. Our mission is to foster an ecosystem where fintechs can innovate, #scale, and make a lasting impact on society. This is why we’re calling on fintechs to join us in shaping the future of financial services through the Financial Regulation Innovation Lab's Consumer Duty Innovation Call. 💡 The Consumer Duty represents a pivotal regulatory shift, and we believe it’s a tremendous opportunity for #fintechs to create products and services that truly improve the financial #wellbeing of consumers. By focusing on transparency, accountability, and delivering better outcomes, fintechs can be a key driver in this new era of customer-centric innovation. Applications are still open to join the Consumer Duty program – https://lnkd.in/eAYeMwT6

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📢 Did you know that SMEs account for 61% of UK employment and £2.4 trillion turnover in 2023, which is about 50% of the UK private sector? In order to be able to fund their operations and growth, enable expansion or provide support in the event of unexpected expenses, SME’s require access to lending that offers them the necessary SME capital. Learn more about how SME lending works here: https://lnkd.in/eDqgHXeu

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SMEs are the powerhouse of the British economy, but many give up the search for finance if rejected by their bank. Find out how a LendingCrowd #businessloan can help bridge the SME funding gap. #SMEloans #fintech #businessfinance

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How can businesses pick the right embedded finance solution? Understanding customers’ needs and pain points is the crucial first step,. Bbut there are other important considerations. Our new blog explains more. https://lnkd.in/eREQYP8G #embeddedfinance #customer #business

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Smart Money People has partnered with 24 lenders, mortgage clubs, networks, and industry bodies to launch a ‘Vulnerable People Survey’, designed to better understand the challenges brokers and lenders face in identifying and supporting vulnerable customers. The survey goes live today (Tuesday 1st October) and will be open for two weeks. It aims to gather valuable insights from brokers on how well-equipped they feel in dealing with vulnerable clients and what support they need from lenders. We're looking forward to getting the views of brokers and helping the industry to better identify and support vulnerable clients. 👉 Read more at The Intermediary article here: https://lnkd.in/eEft8y7E 👉 If you're a mortgage broker, we'd love you to contribute to the survey (your response will be anonymous). The survey link is here: https://lnkd.in/evcrRdVt #SmartMoneyPeople #Survey #MortgageBrokers

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While many DB schemes are currently well funded, our new DB funding code outlines principles and requirements to support schemes no matter what their financial positions in the months and years ahead. Read the new code: https://ow.ly/B35G50T8v3C #DBFundingCode #DefinedBenefitPensions #Pensions

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