Lenders including Barclays, HSBC, Royal Bank of Scotland and Virgin Money had to stop foreign currency services after exchange provider Travelex was hit by a ransomware gang, according to reports on Thursday (Jan. 9). The attack occurred on New Year’s Eve. On Jan. 2, Travelex...
Stress tests haven’t been kind to so-called challenger banks in the U.K., according to a Financial Times report. It stated that the “Bank of England has found widespread weaknesses among the UK’s challenger banks in stress tests that showed new lenders cutting corners in an...
UK Finance Minister Philip Hammond said that a proposed rectification process to aid small businesses in disputes with banks is too easy on the financial institutions, according to a report from Reuters. The service, which was proposed by UK Finance, an organization that represents banks,...
The Big Issue Foundation is urging U.K. banks — as well as the country’s financial regulator — to make it easier for its homeless vendors to take contactless payments. In order to become a vendor of the Foundation’s namesake magazine, a person must be homeless,...
October 08, 2023
England’s Metro Bank has reportedly secured $1.1 billion from investors following a rocky week. As Bloomberg News reported Sunday (Oct. 8), the funding package is comprised of a £325 million capital raise, comprising £150 million ($183 million) of new equity and £175 million ($213 million) in new MREL issuance. In addition, Metro will also refinance £600 million ($732 […]
January 09, 2020
Lenders including Barclays, HSBC, Royal Bank of Scotland and Virgin Money had to stop foreign currency services after exchange provider Travelex was hit by a ransomware gang, according to reports...
June 16, 2019
Stress tests haven’t been kind to so-called challenger banks in the U.K., according to a Financial Times report. It stated that the “Bank of England has found widespread weaknesses among...
January 22, 2019
UK Finance Minister Philip Hammond said that a proposed rectification process to aid small businesses in disputes with banks is too easy on the financial institutions, according to a report...
