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In the UK, about 55 million individuals and six million businesses have a bank account. Roughly 85% of these accounts are held at just four banks, and over 95% are held in the eight largest banks. Such is the depth of UK financial services, these eight banks are only the tip of the iceberg. The Bank of England’s most recent (May 2021) list shows 15...
26 May 2021 /payments /regulation
This blog was co-authored by David Feltes, Managing Principal, Mark Profeti, Principal Consultant and Edward Pease, Consultant at Capco Crypto assets continue to dominate the conversation about the future of currencies, payments and fiscal policy. The Bank of England and UK Treasury’s decision to explore the potential for a UK central bank digital...
26 May 2021 /payments /crypto Cryptocurrency Insights
Ongoing hybrid working practices threaten to leave financial institutions exposed after the pandemic. The pandemic has been devastating for many people and firms, however, some found a silver lining. As bad as things might have been for people, economies and society, it was boom-time for cyber criminals. They flourished during 2020, and will cont...
26 May 2021 /regulation
Should risk professionals in the lending industry fear AI? In this article I look at whether the threat is real, the potential for better decisions around risk, how this fits with the culture in our sector, and the potential benefits for lenders and their underwriters. Almost 100 years ago, British economist John Maynard Keynes predicted that, by 2...
24 May 2021 /predictions Trends in Financial Services
Agriculture is often Fintech’s forgotten cousin behind consumer and business sectors. While also known as Agritech, ‘Fintech within agriculture’ relates specifically to the discipline of financial technology for agriculture businesses. The industry has undergone significant and much needed financial innovation in recent years. Thanks, in no small
21 May 2021 /sustainable /startups Fintech innovation and startups
A short while ago the UK Treasury and the Bank of England announced the formation of a task force meant to look into the viability of introducing a CBDC. The aim here is likely to create a stronger foundation for the pound and improve the UK’s economic situation. Correctly implementing a CBDC could offer major improvements to the country’s paymen...
21 May 2021
Chancellor Rishi Sunak recently announced that Bank of England and Treasury officials would set up a new task force to review the potential benefits of a UK Central Bank Digital Currency (CBDC) – a so-called ‘Britcoin’. The news came just days after cryptocurrency exchange platform Coinbase listed on the New York Stock Exchange in a $76bn IPO. Ma...
20 May 2021 /crypto Cryptocurrency Insights
At one point on Wednesday, May 19, Bitcoin plunged 30% to near the $30,000 mark (a new low since February) before climbing back 8%. Altcoins suffered even bigger losses. Ethereum price crashed 46% on May 19 as it dipped from $3,441 to $1,850 (a day earlier, the 15% fall stopped at $2.9k). Just a day ago, Binance was trading at $432 — more than 37%...
20 May 2021 /inclusion /crypto Cryptocurrency Insights
In September 2020, security developers working closely with Bitcoin made an uncomfortable and public revelation. A couple of years prior in 2018, a bug within Bitcoin’s blockchain was found. If discovered by naughty evil-doers, the line of code could have brought the world’s most famous crypto-currency crashing down. Known as the Inflation Bug, it
19 May 2021 /crypto /predictions Cryptocurrency Insights
With Making Tax Digital (MTD) now in full swing, HMRC is one of the most digitally advanced tax administrators in the world. But for many small business owners, MTD is new territory and HMRC is a black hole of information. Due to COVID-19, HMRC made the swift decision to delay phase two of MTD, meaning businesses who were preparing to put digital...
17 May 2021 /payments /inclusion Personal Finance
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