UK SMEs face £20bn HMRC furlough payments cash flow gap
by Ben Poole
An estimated 8 million salaries in the UK will be paid to furloughed employees every month between now and the end of June.
Europe
Ratings agencies assess the COVID-19 impact on European banks and corporates
by Ben Poole
Scope Ratings' outlook on European banks continues to show downside, while Moody's notes importance of industry sector for corporates.
ESG commitments pushing ahead in spite of COVID-19
by Ben Poole
The EU Green Deal seems to still be on track, while Mizuho has announced strict new ESG policies.
Starling Bank to support UK businesses through CBILS
by Ben Poole
The digital bank has been accredited by the British Business Bank as a lender under the Coronavirus Business Interruption Loan Scheme.
Nordea promises faster supplier payments
by Ben Poole
The move is designed to support its suppliers during the COVID-19 crisis.
Banking industry puts forward vision for future-driven EU payments market
by Ben Poole
Three European associations have published their vision for the EU retail payments framework.
COVID-19 halts Nationwide’s plans to enter the business banking market
by Ben Poole
The building society will be handing back the £50m RBS bail out fund grant it had received.
Sberbank and Google offer education for businesses to stay afloat
by Ben Poole
The duo are teaming up on a Business Class online tutorial programme.
18% of UK SMEs set to collapse within 4 weeks without government help
by Ben Poole
The Corporate Finance Network, which carried out the research, has proposed a recovery plan.
Flux and Pleo partner on digital expense management
by Ben Poole
The duo say they will provide the UK’s first fully-automated, invisible expensing experience for businesses.
Calls for changes to UK’s Coronavirus Business Interruption Loan Scheme
by Ben Poole
OakNorth Bank has suggested a number of changes to CBILS in order to better support UK businesses.
Central Bank of Cyprus running new TMS
by Ben Poole
The MAPS TMS for central banks is provided by Banque de France and Banco de España.
EBA seeking to mitigate financial crime risks during COVID-19
by Ben Poole
The European Banking Authority has outlined AML/CFT efforts that competent authorities should be promoting to financial institutions.
Pandemic casts shadow over UK Payment Systems Regulator’s annual plan
by Ben Poole
The PSR's annual plan and budget were formulated before the COVID-19 crisis.
New BSI standards cover supply chain management, biz continuity and more
by Ben Poole
The risk and business continuity standards are designed to help UK firms not drop the baton as they deal with COVID-19.
Emergency UK government loans only appeal to half of business owners
by Ben Poole
MarketFinance research reveals 67% of UK businesses believe funds will not reach them in time.
Iwoca launches SME funding platform
by Ben Poole
OpenLending aims to support 2 million SMEs by 2023, through 14 fintech platforms.
FCA requests delay to forthcoming announcement of preliminary financial accounts
by Ben Poole
The Coronavirus crisis is impacting firms' ability to give due consideration to disclosures.
Swedbank money laundering case: Bank accepts Clifford Chance report
by Ben Poole
The law firm was retained in 2019 to investigate the bank's AML work.
FED and BoE outline COVID-19 corporate support efforts
by Ben Poole
Both central banks have launched temporary commercial paper facilities to support businesses.
Calls for cross-sector cooperation to tackle authorised push payment fraud
by Ben Poole
UK Finance data shows APP fraud losses rose to £456m in 2019, partly driven by criminals abusing online platforms to scam victims.
Erste Bank enables instant payments in Hungary
by Ben Poole
Powered by valantic, the bank now offers real-time payments around the clock and request-to-pay in Hungary.
UnderPinned and Banked speed up contractor payments
by Ben Poole
The pair claim they can slash the time finance departments spend paying contractor invoices by 86%.
Monzo introduces business accounts
by Ben Poole
The Pro and Lite versions are designed for limited companies and sole traders.