Adam Cave

FINTECH IS GROWING 🚀🦄 Fintech is growing across banking, payments, insurance, wealth management, digital assets and more – offering traditional retail banks the chance to diversify their revenue streams away from interest rate-sensitive products. Big banks want in, and are adopting several different entrance strategies – each with their own risks and rewards. A great article from Cityam over the weekend. #FINTECH #GROWTH #COMPETITION #BANKINGANDFINANCIALSERVICES

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I think this year more than ever before it has become clear that the banking sector in the UK is facing a number of challenges. In order to thrive banks must be flexible, innovative, and customer-focused in 2024 and beyond. I’ve just read an article which outlines 5 main challenges affecting the banking industry right now: 1. Fraud and financial crimes 2. Ethical concerns 3. Fintech development 4. Economic uncertainty 5. Online banking I’d love to know, in your experience, are there any challenges you’d add to this list? And as a side note, if you’d like to discuss fortifying your team with the right people to ensure your organisation is up to facing these challenges, drop me a DM today. https://lnkd.in/eGJ7k69E #Innovation #BankingSector #FinTech

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It's concerning to see so many bank customers across the UK affected by payment delays, especially when it impacts something as crucial as receiving salaries. As a recruitment expert in the payments sector, these incidents highlight the critical importance of robust and resilient payment systems. The reliance on technology means that even a small glitch can have widespread effects. For professionals in this field, it’s a reminder of the importance of constant vigilance, innovation, and improvement in payment infrastructure. It’s not just about preventing issues but also about swift resolution and transparent communication with customers when problems arise. What are your thoughts on how the payments industry can better prepare for and mitigate such disruptions in the future? https://lnkd.in/ePJYxnqC #recruitment #news #paymentissues

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Exciting developments in the payments industry! Instant payments, digital wallets, AI, and tokenisation are transforming how we handle money. It's clear that technology and regulation are driving rapid changes. As we push for seamless, real-time payments, what are your thoughts on the future of payments innovation? How can we balance speed and security? https://lnkd.in/eAG9wa6X #PaymentsInnovation #FinTech #RealTimePayments #AI #DigitalWallets #ConsumerTrends 

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As the UK has a Labour Government for the first time in 14 years, the financial services sector eagerly awaits potential changes. bpesearch delves into the Labour Party’s manifesto and its impact on the financial services industry. With the financial services sector contributing 12% to the UK’s economic output in 2023, robust policies are essential. Discover more in our latest blog post. Read more; https://lnkd.in/eMRU4V2S #FinancialServices #UKEconomy #GeneralElection #LabourParty #bpesearch #EconomicPolicy #Finance

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Bank of England Mandates LEI for #CHAPS Payments. From 1 May 2025, the use of LEIs will be mandated for CHAPS payments between financial institutions. This mandate aims to streamline and secure high-value transactions within the financial sector. Implementation timeline: June 2023: The CHAPS system successfully migrated to the ISO 20022 messaging standard, setting the stage for enhanced data capabilities. May 2025: LEIs will become mandatory for payments between financial institutions. Additionally, purpose codes for property payments and transactions between financial institutions will also be required. November 2025: Further enhancements, including structured addresses and remittance information, will be mandated to ensure comprehensive adoption of the ISO 20022 standard across various transaction types. Tanveer Bhatti Ubisecure RapidLEI #bankofengland #chaps #lei #validationagent #gleif #rapidlei #ubisecure #iso20022 #payments #financialinsitutions #banks #kyc #kyb #b2b

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Have you ever wondered why payments regulation became crucial in the UK? Join me as I dive deep into its inception with John Burns, a pioneer in the field. Discover why it was needed and how it shaped the financial landscape. Listen to the full discussion here:  https://lnkd.in/dUbmWG5F #ComplianceMatters #ComplianceRecruitment #Compliance #ComplianceNews #ComplianceJobs 

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Hear how CBI has leveraged Payment Pre-validation to take local confirmation of payee global and give customers confidence that their payments will complete the first time they’re sent. Liliana Fratini Passi, Managing Director at CBI S.c.p.a. Società Benefit, explains. Hear what other users think of Payment Pre-validation: 👉 https://okt.to/oBSvPz #testimonials #payments #prevalidation #swift

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Coventry Building Society buying Co-op Bank and what does this mean for the market? 💹 In a reported £780m deal, this could rocket CBS to being roughly the 6th largest bank in the UK 🚀 Experts have long warned that UK mid-tier banks need to grow in scale through mergers in order to compete with their larger peers but integrations in the sector are difficult to execute due to the challenges of merging balance sheets and IT systems. This comes after Nationwide announced last month they're buying Virgin Money for £2.9bn. What's your thoughts on the impact this will have in the banking space? 🤔

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As a Finance Recruiter, it's great to see some positive news at the moment! Paragon Banking Group PLC has seen an uptick in their SME lending and some of their key highlights include: 📈 4.6% increase in SME Lending: £230.2 million in new lending for H1, showcasing the resilience of UK SMEs 📈 Commercial Lending Growth: Slight increase to £589.8 million, now accounting for 48% of their new lending. 📈 Strong Financial Performance: 13.5% rise in their underlying profits to £146.3 million, driven by robust loan growth and improved margins. It seems as though they're doing a great job at navigating through challenging times and leading by example. I'm still wanting to remain quietly optimistic about the market. We're seeing a lot of hiring into our SME and Private Equity clients at the moment, so if you're wanting to discuss what opportunities are looking like on the external market, please do drop me a message! #financerecruitment #careergrowth #leadershipinfinance

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UK fintechs are gradually changing the face of finance and banking. They’ve helped to boost the economy and are pulling their weight when it comes to increasing financial security. But with economic factors such as interest rate changes, inflation, and economic downturns or booms significantly influencing the sector, they cannot afford to slow their growth and momentum. This article explores how fintechs are shaping a brighter future for the UK and how they are playing a transformative role in the banking sector. A really interesting and positive piece (despite the challenges!), I think you’ll enjoy this one. https://lnkd.in/eViTQazP #FinTech #BankingSector #FinancialServices

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More positive news for banking and fintech. Monzo announce profits for the first time following the diversification of revenue streams. Traditional banking a thing of a the past? Kudos Monzo, great to see 👏 #banking #fintech #positivenews #investigofinancialservices

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Was going to post about this but Simon Taylor beat me to it with a much better articulation. Like their "are we calling you" feature, Monzo Bank leading with innovation here to tackle APP scams. Personally, I think this supports the Payment Systems Regulator stance on 50/50 liability reimbursement creating a big enough stick that the industry needs to tackle the issue. With these sort of features , we would expect to see the results flow through in the performance data reporting...Bravo! Big question will be how fast can/will others adopt these sort of tools and who will be left behind and become even attractive to fraudsters?

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What I can learn in a quick 30-second scan is that Meta is using Salesforce and also Mulesoft as an API Gateway!

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The number of staff employed by UK banks saw its biggest increase in a decade last year, new data shows, as headcount returned to pre-pandemic levels and lenders enjoyed record profits. UK bank staff numbers see biggest jump in a decade as sector outperforms Europe. UK banks employed 612,519 people globally in 2023, according to figures compiled by trade publication The Banker. This number is up by just over 21,000, or 3.56 per cent, from 591,435 in 2022 and marks the biggest increase since the dataset started in 2013. Still, headcount has plummeted 20 per cent, equating to around 154,000 job losses, over the decade as lenders try to become more cost-efficient and improve returns. #careers #banking

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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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Some positive news in the press today! The headline - 'FinTech leads the way for UK technology investment.' 'FinTech is back on top as the UK's most-funded startup sector according to new analysis from HSBC Innovation Bank and Dealroom.' Simon Bumfrey, head, technology and life sciences, HSBC Innovation Banking UK, says: “This data reflects a busy start to the year for the UK innovation ecosystem.' The feeling at EC1 Partners since the turn of the year definitely supports this. Whilst our clients are being far more pragmatic in their approach to hiring, we have seen a resurgence in hiring across the industry. There is clearly a need to find strong talent and EC1 Partners will continue to work hard for our customers to ensure we deliver this. https://lnkd.in/eCmrtWDY #ec1partners #execsearch #fintech #2024 #techgrowth

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