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Financial technology revenues grow due to focus on innovation, rankings show

Thursday, 21 October 2010

Revenue for financial technology firms has increased due to continued focus on innovation among banks, the authors behind a new report have claimed. The rankings of the top 100 financial technology firms by the American Banker, Bank Technology News and IDC Financial Insights showed that revenues for the industry were up by one half of a per cent when compared with the previous year.

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Payments revolution gathers pace as cheque usage plummets

Thursday, September 9th 2010

The total value of payments in the UK economy fell 0.6% in the second quarter of 2010, according to the latest data from the Payments Council.

Cheque usage dropped by £21.5bn, down 10% compared to the same period in 2009 as businesses and consumers switched to faster and more convenient electronic payments and cards.  Every day of the quarter, on average a staggering 290,000 fewer cheques were written than the year before - over three fewer per second.

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Councils 'waste £150m a year paying bills twice'

Wednesday, 13 October 2010

Councils could save almost £150 million a year if they made sure they did not pay bills twice, Communities Secretary Eric Pickles claimed today.

Audits of two large councils uncovered over-payments to suppliers totalling more than £550,000, with invoices showing that some bills had been paid as many as three times. If repeated across England, the exercise could save an estimated £147 million.

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British banks 'may ask for additional bailout funding'

Monday, 4th October 2010

The British banking sector may soon be in need of further government bailouts, a new survey has warned. According to a report from the New Economics Foundation (NEF), high street banks are still overly reliant on funding from the Bank of England.

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How American cities could cause the next financial crisis

Thursday, 30th September 2010

When it comes to bankrupt or near-bankrupt states, the focus right now is all on Europe. We've got Ireland figuring out what to do about Anglo-Irish Bank, with the final bill put at €29.3bn this morning (although it could hit €34bn in a 'severe hypothetical stress scenario'). And we've got the usual rumblings about Greece and Portugal and all the rest just waiting in the wings.

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