As a company, we believe it’s important to fulfill our corporate social responsibility and make efforts towards a greener working environment. Around the office, our sustainability monitors provide real time data to assess the quality of the air we breath, in spaces we work in every day. As we start to see more mask-less faces,…
BNPL’s are all the rage. Just ask Monzo, who are another lender capitalising on their rise. Having unveiled a new BNPL product with a £3000 limit, they join a market that is dominated by companies like Paypal and Klarna. The digital bank will still need to carry out affordability checks before lending and must treat…
This month, we witness the second stage of a new bill in Ireland, designed to increase protections for those involved in PCP agreements. During this stage, the debate centers around an extension of the Central Bank’s Consumer Protection Code which, amongst other things, would require auto-finance lenders to assess the suitability of their product…
What is Binance? Binance.com is a centralised online exchange platform, offering users a range of financial products and services, including purchasing and trading digital currencies, as well as digital wallets, securities, savings accounts and even lending. Where do the FCA stand? The Financial Conduct Authority refuses Binance from conducting any “regulated activity”…
The Financial Conduct Authority is introducing greater protections for retail clients by introducing a new consumer duty principle, aimed for firms providing and advising on products and services. In turn, this will increase the responsibility of firms to ensure consumers are provided with the products and services that are best fit for purpose and represent fair value. Firms are…
Proposed changes to responsible lending regulations hit the Australian federal Senate the week before last. Since the 2008 – 2009 Global Financial Crisis, Financial regulation and responsible lending laws have been largely combative, with inflamed tensions between bankers and lawyers. The reforms were first announced in September 2020, in the hopes of boosting Australia’s credit…
Our previous post on Buy Now Pay Later’s (BNPL’s) focussed on the possible transparency issues that can arise when utilising them, particularly regarding the silent accumulation of debt that has become increasingly concerning. The use of BNPL’s can further fuel a culture in which ‘fast fashion’ and excess consumption are viewed as both advantageous and…
An independent strategic review of UK financial technology (FinTech) has been published in line with the emerging prominence of this sector and the UK’s highly regarded fintech reputation. Also known as ‘The Kalifa Review’, its purpose is to aid the adoption and growth of Fintech in the UK. The review illustrates a strategy and delivery…
British expats living in the EU have faced a block on borrowing from some British lenders following the UK’s exit from the European Union. Lenders including Newbury and Marsden Building Societies have adopted the policy however have signalled that the restrictions may only be temporary measures, depending on ongoing negotiations between the UK and EU. …
Buy now Pay later (‘BNPL’) providers like Klarna and Clearpay allow customers to purchase goods in a series of instalments, without the fear of crippling interest rates or a late payment fee. Yet, the appeal of such an offer can often mask the reality that it is in fact, a form of credit. An unintended…