Virgin Money

Former Yahoo Exec Joins Climate Risk Fintech

Retrieved on: 
Tuesday, January 9, 2024
Banking, Professional Services, Business, Fintech, Sustainability, Start-Up, Commercial Building & Real Estate, Asset Management, Construction & Property, Environment, Data Analytics, Climate Change, Finance, Share (finance), Triple point, JLL, Partnership, Estate, GM, Strategic planning, Sale, Apollo Global Management, Investment, Acquisition, Climate change, Advisory board, Comscore, Climate, Virgin Money, Marketing

Climate X, a leading company in climate risk analytics for the financial industry, appoints Iván Markman to their Advisory Board.

Key Points: 
  • Climate X, a leading company in climate risk analytics for the financial industry, appoints Iván Markman to their Advisory Board.
  • In a significant development for Climate X, Iván Markman brings over two decades of experience in technology and transformative business growth as he joins the Advisory Board.
  • Iván’s demonstrated track record in facilitating expansion speaks for itself – we’re excited.”
    Climate X's solutions are transforming the way the financial and real estate sectors approach climate risk.
  • By delivering detailed projections of climate impacts, Climate X’s platform, Spectra, equips companies to shield their investments and adhere to strict regulatory requirements for environmental risk reporting.

Youtility UK Fintech Switching Platform Acquired by Squeeze, an American Price Comparison Service to Help UK Consumers With Cost of Living Crisis

Retrieved on: 
Thursday, October 26, 2023
Utilities, Energy, Squeeze, Office, Acquisition, Virgin Money, B2C, Online shopping, Technology, Personal Finance, Insurance, Fintech, Professional Services, Data Analytics, Data Management

The purchase of Youtility by Squeeze the fast-growing US switching platform is the first purchase of a UK price comparison service by a US price comparison website.

Key Points: 
  • The purchase of Youtility by Squeeze the fast-growing US switching platform is the first purchase of a UK price comparison service by a US price comparison website.
  • Squeeze intends to combine Squeeze’s data analytics and B2C experience with Youtility unique technology allowing switching to be integrated by banks into their Apps.
  • By partnering with banks and fintechs, the service removes the effort and hassle consumers endure from traditional price comparison websites.
  • The recent acquisition of Youtility further enhances Squeeze's ability to revolutionise the UK price comparison market, providing consumers with greater control and financial certainty.

Quarterly Review

Retrieved on: 
Thursday, October 26, 2023
Sale, Attention, Policy, Optimism, Virgin Money, Oriflame, Fitch, Telerate, AAA, News, B7, Frailty, United States Treasury security, Update, Acceleration, ABS, BBB, BT Group, Growth, C1, GDP, Risk, Telecom, ICE, NAV, G7, Labour, COVID-19, Security (finance), Tourism, Bank, Q3

The Company announces that its quarterly review as at 30 September 2023 is now available, a summary of which is provided below.

Key Points: 
  • The Company announces that its quarterly review as at 30 September 2023 is now available, a summary of which is provided below.
  • The full quarterly review is available on the Company’s website at:
    The third quarter was characterised by a shift in financial markets toward an acceptance that central banks would keep interest rates elevated for a prolonged period.
  • Eurozone and UK government bonds sold off also, although the latter proved slightly more resilient, outperforming other core sovereign debt over the period.
  • With rates likely to stay ‘high for longer’, attention focused on the potential lagged effects of rate rises on economic activity.

Sumsub Enables Non-Document UK Customer Onboarding in Five Seconds with via Major Banks

Retrieved on: 
Thursday, September 21, 2023
Fintech, HSBC, Partnership, OneID, First Direct, Bank of Scotland, Starling, Ulster, TSB, ID, AML, MBNA, Monzo, Chase, RBS, Bank, Fraud, NatWest, SDK, Barclays, Virgin Money, Cryptocurrency, Online shopping, Nationwide

LONDON, Sept. 21, 2023 /PRNewswire/ -- Sumsub, the leading global full-cycle verification platform, is announcing the introduction of its Non-Document Verification solution in the UK. Customers across the fintech, crypto, ecommerce, online gaming and transportation industries, among others, can now onboard their users via official bank records securely with near-instant identity verification, while staying compliant with UK regulations. Non-Document Verification is also currently available in Nigeria, Brazil, Argentina, Indonesia, Ghana, Bangladesh, India and the Netherlands.

Key Points: 
  • The solution is made possible through its strategic partnership with OneID , a UK Government-certified identity provider.
  • Sumsub is the first global firm to offer document-free verification services as part of a holistic compliance solution across the whole user journey.
  • OneID enables Sumsub to provide lightning-fast verification in less than five seconds - far quicker than the industry's average onboarding time of two minutes.
  • Finally, Sumsub instantly retrieves and verifies the required data, successfully onboarding the new customer without any documents.

Temenos Recognized as Leader in Cloud Core Banking by Omdia

Retrieved on: 
Thursday, September 14, 2023
Universe, Carbon, Human, Cloud Security Alliance, Software as a service, Canadian Tire Financial Services, STAR, Innovation Hub, Research, Core banking, Bank of Queensland, ESG, AI, Bank, Virgin Money, Cryptocurrency, Cloud, Temenos

GENEVA, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN) has today announced that it has been recognized as a market leader in the latest “ Omdia Universe: Cloud-based Core Banking 2023 ” evaluation from Omdia, a leading technology analyst and consulting firm.

Key Points: 
  • GENEVA, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN) has today announced that it has been recognized as a market leader in the latest “ Omdia Universe: Cloud-based Core Banking 2023 ” evaluation from Omdia, a leading technology analyst and consulting firm.
  • The report, “Omdia Universe: Cloud-based Core Banking 2023”, helps C-level executives and banking heads to shortlist vendors/solutions when replacing legacy core systems.
  • Prema Varadhan, President Product and COO, Temenos, said: “Our recognition as a leader in the Cloud-based Core Banking Universe from Omdia is testament to the work of the team at Temenos in delivering an industry-leading cloud banking platform.
  • New signings this year include a top 30 US bank which selected Temenos Banking Cloud to modernize its legacy systems for customers’ records and deposits, and Canadian Tire Bank , part of one of the largest Canadian retail companies, which selected Temenos Banking Cloud to accelerate its core modernization.

Stone-Goff Partners Announces New Board Members for FS Vector

Retrieved on: 
Wednesday, August 16, 2023
Finance, Asset Management, Consulting, Professional Services, Technology, Fintech, Other Technology, Business, Failure, SGP, Partner, Silicon, Risk, FS, FSV, Virgin Money, Consultant, Management

Stone-Goff Partners (“SGP”), a growth-oriented private equity firm focused on tech-driven B2B service companies, today announced Sarah Dekin and Dan Allred as the newest members of the FS Vector (“FSV”) Board of Directors.

Key Points: 
  • Stone-Goff Partners (“SGP”), a growth-oriented private equity firm focused on tech-driven B2B service companies, today announced Sarah Dekin and Dan Allred as the newest members of the FS Vector (“FSV”) Board of Directors.
  • FSV, a SGP portfolio company, is a leading provider of strategic advisory and advocacy solutions to innovative financial services companies.
  • “Innovation is always challenging, and innovating in financial services brings the additional complexity of navigating an ever-changing regulatory landscape.
  • FS Vector has proven to be a valuable partner and trusted advisor for fintechs and other companies innovating in payments, lending, banking, and other areas of financial services,” said Mr. Allred.

Players In The Travel Insurance Market Are Focusing On Implementing Advanced Technologies And Developing Digital Platforms - By The Business Research Company

Retrieved on: 
Friday, July 7, 2023
Etherisc, Gnosis, Berkshire Hathaway, Insurance, Travel, Aviva, American International Group, COVID-19, Computer, App Store (iOS/iPadOS), American Express, Traction, Chubb Limited, Digital, Allianz, Virgin Money, Blockchain

LONDON, July 7, 2023 /PRNewswire/ -- As per The Business Research Company's Travel Insurance Global Market Report 2023, the global travel insurance market size will grow from $19.1 billion in 2022 to $22.44 billion in 2023 at a compound annual growth rate (CAGR) of more than 17%. The travel insurance market size is then expected to grow to $40.5 billion in 2027 at a CAGR of 16%. Factors such as increase in demand for embedded, event-driven insurances, growing awareness of travel associated risks, and the rising medical costs will drive the market.

Key Points: 
  • The travel insurance market size is then expected to grow to $40.5 billion in 2027 at a CAGR of 16%.
  • The global travel insurance market is highly concentrated, with a few large players operating in the market.
  • For instance, in March 2022, Virgin Money, a UK-based financial services company, unveiled a new digital travel insurance offering that incorporates comprehensive coverage for COVID-19.
  • According to the travel insurance market analysis , the top growth potential in the travel insurance market by insurance cover will arise in the single-trip travel insurance market, which will gain $12.5 billion of global annual sales by 2027.

Players In The Travel Insurance Market Are Focusing On Implementing Advanced Technologies And Developing Digital Platforms - By The Business Research Company

Retrieved on: 
Friday, July 7, 2023
Etherisc, Gnosis, Berkshire Hathaway, Insurance, Travel, Aviva, American International Group, COVID-19, Computer, App Store (iOS/iPadOS), American Express, Traction, Chubb Limited, Digital, Allianz, Virgin Money, Blockchain

LONDON, July 7, 2023 /PRNewswire/ -- As per The Business Research Company's Travel Insurance Global Market Report 2023, the global travel insurance market size will grow from $19.1 billion in 2022 to $22.44 billion in 2023 at a compound annual growth rate (CAGR) of more than 17%. The travel insurance market size is then expected to grow to $40.5 billion in 2027 at a CAGR of 16%. Factors such as increase in demand for embedded, event-driven insurances, growing awareness of travel associated risks, and the rising medical costs will drive the market.

Key Points: 
  • The travel insurance market size is then expected to grow to $40.5 billion in 2027 at a CAGR of 16%.
  • The global travel insurance market is highly concentrated, with a few large players operating in the market.
  • For instance, in March 2022, Virgin Money, a UK-based financial services company, unveiled a new digital travel insurance offering that incorporates comprehensive coverage for COVID-19.
  • According to the travel insurance market analysis , the top growth potential in the travel insurance market by insurance cover will arise in the single-trip travel insurance market, which will gain $12.5 billion of global annual sales by 2027.

Virgin Money and Flexys Agree a Six-year Partnership Extension

Retrieved on: 
Thursday, March 30, 2023
Professional Services, Data Management, Technology, Finance, Software, Banking, Pleasure, MIT Center for Digital Business, Partnership, PAYG, SME, Virgin Money, Security (finance), Bank, Flexi Fixed Deposits

Virgin Money has signed a six-year contract extension with leading debt resolution software supplier Flexys Solutions.

Key Points: 
  • Virgin Money has signed a six-year contract extension with leading debt resolution software supplier Flexys Solutions.
  • Figures show that BBLS made £47bn of loans available to 1.67m SMEs across the UK, with Virgin Money lending £1bn to over 34,000 business customers.
  • The digital self-service solution developed with Flexys was the first of its kind deployed by Virgin Money and, to date, c.14,000 BBLS loan restructures have been completed via PAYG.
  • Flexys CEO, James Hill, said, “Working with Virgin Money has been a pleasure for the whole Flexys team, and their continuing confidence in Flexys is gratifying.

Will the UK Government's Draft Legislation on Buy Now, Pay Later Drive Growth Forecasts?

Retrieved on: 
Thursday, March 2, 2023
Revolut, Financial Conduct Authority, Research, Legislation, Bank, NatWest, Risk, FCA, BNPL, Fintech, Curve, Growth, Newday, Virgin Money, Arcadia Group, Zopa, Partnership, Credit, Online shopping, Geno Auriemma, Klarna

Today, over 17 million consumers have used BNPL services , including almost half (49%) of credit cardholders according to Auriemma Group's latest issue of Cardbeat UK.

Key Points: 
  • Today, over 17 million consumers have used BNPL services , including almost half (49%) of credit cardholders according to Auriemma Group's latest issue of Cardbeat UK.
  • However, new draft government legislation may soon change the readiness in which consumers can access and use BNPL services in order to reduce the risk of consumer detriment.
  • Several UK banks and lenders already have BNPL products in market, such as NewDay with NewPay, NatWest and Virgin Money.
  • Auriemma's Cardbeat UK found that 44% of cardholders would be interested in monthly instalment plans attached to their existing credit card.