Monthly Archives: December 2020

Appointments, News

Create Health closes 2020 with three new team members

Strategic and creative healthcare agency, Create Health, whose creative work includes global and national campaigns for big healthcare brands such as Thermo Fisher Scientific, ConvaTec, BD and HOYA, has ended the year on a high by introducing three new staff members to its growing team. Ben Price joins as commercial account director, Tom Hunt joins as project manager and Matt Sugrim becomes its first in-house animator.

Price brings extensive experience in medical sales and marketing, with his previous role being senior European marketing manager for British multinational medical equipment manufacturer, Smith & Nephew. On his new commercial account director role, Price comments: “I’ve spent a large portion of my career as a client and I’ve joined Create Health as I see them as a talented and growing agency that have huge scope to impact the world of medical device marketing at a particularly challenging and interesting time for the industry.”

Meanwhile, Sugrim joins the Create Health team permanently after freelancing as an animator and CGI generalist for several years. Sugrim says, “I joined Create Health for a chance to work with an experience and dedicated agency deeply embedded in the bio-medical side of the creative world and am keen to work within a team who can guide my work to new heights. I am most excited about helping to develop Create Health’s motion and CGI offering – making some of the creative industry’s most powerful and rapidly developing tools available to our clients.”

Joining from Medical Protection, the UK’s largest medical indemnity provider, is project manager, Tom Hunt, whose role will involve taking projects from initial client ideas to fruition, across the client base. Formerly at Havas and Golley Slater, Hunt comments: “I joined Create having been fascinated by the advancements in new healthcare technology and treatments, and wanted to play a role in transforming these ideas to the people that need them most. Having spent my marketing career learning how best to understand my audience behaviour and mindset, I am looking forward to bringing this to my new role here at Create Health.”

These appointments represent continued success for Create Health as its expansion plan rolls out following the management buy-out in March.

Ed Hudson, managing director, adds: “The Create Health evolution continues – we’ve ended the year with a restructure, changing to a pod system that’s focused around bringing together a dedicated range of specialisms for each client, rather than teams separated by job title. We’ve been able to choose talented, ambitious new team members and we’re particularly excited about having a permanent animator, in Matt, as we’ve produced some powerful, successful animated projects this year and we can only see this area growing.”

 

Health, News

Jacqd Delivers Performance Enhancing Fitness Expertise in 2021

Fitness has become a major talking point during the year of 2020, with many Britons more aware than ever about the importance of body confidence and caring for our bodies. With COVID-19 forcing us to look closer at our bodies and lifestyles than ever before, the topic of health and fitness has become a common talking point. For those serious about getting into physical shape, new UK start-up Jacqd provides a new place to find out about fitness and get into the best physical condition.

Jacqd is the brainchild of Carl Derving, a sufferer of Type 2 Diabetes who was considered clinically obese. After many months of hard work and effort, Carl overcame his HbA1c diagnosis and was able to stay below the threshold. The tips, tricks, and dietary changes made to allow those changes to take place are part of the foundation of Jacqd.

The story is simple: Jacqd is built on the principles that founder Carl says took him from “fit to fat”, transforming his life. Unlike other fitness programs that area tailored to those who are already on the path to physical empowerment, though, Jacqd focuses on offering those who have been overweight or obese a starting point. By helping people to understand how to change their bodies and become more physically fit over time, Jacqd aims to deliver a solution that speaks sense to those who need help and need it today.

Built upon the dual concept of quality sports equipment and sound fitness advice, Jacqd looks to provide people with the core foundation they need to start making progressive physical changes for their long-term benefit.

The brand represents the ‘normal’ person who simply wants to become physically healthier and stay in a better long-term physical shape. The brand represents the average person on the street who has ambitions about living and looking better but isn’t sure where to start. Founder and CEO Carl Derving said of this: “I’ve been in the shoes of those who are overweight, having been diagnosed as a Type II Diabetic myself. I created this system as an answer to the worries about long-term health that I feared for myself, and now want to try and help others learn and educate themselves on the immense power that comes from physical change.”

Jacqd is currently seeking investors for those who wish to enter the gym market and capture an exciting opportunity that offers a new perspective on a proven topic of interest. Instead of focusing on people who are already approaching a place of physical perfection, Jacqd focuses instead on the masses of people who are not in the shape they wish to be but want to make a positive change.

The business is interested in investors who might wish to help propel the idea further into the stratosphere. Designed from the ground-up based on theories and practices which made a genuine difference, Jacqd looks to promote a healthy way of positive, progressive change for those who are in the physical condition intended.

News

Business growth agency goes global

A London-based business growth agency has expanded its services to six countries, following double-digit growth in 2020.

SME GRO.TEAM now has a range of advisors on hand to provide support to the US, Canada, South Africa, Spain, New Zealand and Australia. It has tailored its website to the various local markets following both the successful delivery of several ad-hoc overseas projects, and a spike in online traffic and enquiries from across each country.

GRO.TEAM has worked in the UK with the likes of Google, Amazon, WhatsApp, Sky, Tesco, Betfair, HSBC and the BBC. The firm advises on all aspects of business development including attracting investment, pricing, marketing, recruitment and customer focus.

The agency has already experienced success overseas. Prior to formally launching in the US, it supported New York-based startup amzLenders, a finance provider to Amazon sellers. The company was struggling to deliver the technology changes they needed with local talent, so GRO.TEAM provided a UK-based, part-time chief technology officer to support their development.

Following a period of substantial growth, the business was eventually acquired by eCommerce specialist, SellersFunding.

Loraine Bautista, amzLenders’ chief operating officer, said: “GRO.TEAM have been amazing. They are really customer focused and connected us with someone with very deep experience in the areas we needed. They shared the savings made from remote working with us, so also proved very cost-effective as well.”

Rorie Devine, from the GRO.TEAM founding team, said: “We’re particularly excited to be expanding across the globe and are confident we can generate success for our overseas clients, as we have done for businesses closer to home.

“The level of traffic and enquiries we experienced from these new areas was at a point where it made sense to operate in the local markets, and in doing so collaborate more effectively. We can’t wait to get started.

“Given our growth, we’re confident we can further extend our services next year. Watch this space.”

News

BizSmart® helps Worcestershire businesses ‘elevate’ growth with dedicated peer-to-peer program

A leading Worcestershire business support provider has helped 17 businesses enhance growth through ‘Elevate’, a dedicated peer-to-peer program supported by Worcestershire Business Central, Worcestershire County Council and the European Regional Development Fund.

Founded in 2012 by proven entrepreneur, Kevin Brent, BizSmart® has successfully established itself as a leading business support provider, having developed a series of support initiatives with a key focus on bringing like-minded business leaders together via peer-to-peer learning and engagement.

Awarded a regional business support tender at the start of 2020, Kevin and the BizSmart® team introduced ‘Elevate’ to over 30 Worcestershire businesses at launch events hosted at the end of February 2020, which provided the opportunity for selected attendees to learn from BBC Apprentice Winner, Mark Wright, and gain insight into what the Elevate program has to offer and how it can support business growth.

From here, 17 businesses joined the peer-to-peer driven program and have since benefitted from monthly support meetings, which have focused on the core pillars of the BizSmart® scale-up journey and enabled business owners to understand and work through fundamental challenges to drive business growth.

Kevin explained: “The latest statistics show that just 4% of businesses in the UK successfully scale beyond 9 employees, typically equating to around the £1 million turnover mark, with the majority stuck in something we call the ‘owner’s trap’ where they have created a business that is overly dependent on themselves

The Elevate program, supported by Worcestershire Business Central , Worcestershire County Council and the European Regional Development Fund, has been created to help Worcestershire businesses identify and overcome key blockers to growth, improving their chances of long-term scalability and success. Although we didn’t plan for Elevate to take place during the COVID-19 pandemic, all participants benefitted significantly from the peer-to-peer support process, and we now look forward to continuing to work with these businesses through our wider BizSmart® support initiatives.”

Having successfully completed the Elevate program, Matt Busby, owner of The Name Label Company, added: “The Elevate program was beneficial, it challenged the way we worked, the way we looked at and dealt with issues and most importantly the way to approached planning. The BizSmart® team gave us the tools and insight, whilst the peer-to-peer learning challenged the way we have traditionally done things, approached issues and then suggested alternative ways to deal with them. The Smart90 planning ensured we set out our 90 Plan in a very structured format with check and balances along the way and full accountability.”

“As a business, we have benefited enormously, but also I feel I have ‘grown’ as a leader in the business and know that we are in a much better position than when we started the program. I am very grateful to Worcestershire County Council for having the vision to put on such a brilliant program to help local business. I thank BizSmart® for delivering such inspiring content & support; it has helped us get through which I’m sure most people would agree, a very challenging 2020. I look forward to my continued journey (and learning) with the BizSmart® team.”

BizSmart® has established a leading reputation as the region’s business support provider of choice. With a clear mission to help as many business owners on their scaleup journey as possible, the firm has recently unveiled the launch of its Franchise model, which will enable Franchisees to deliver the proven support programs to business owners UK wide.

For more information, visit:

http://www.biz-smart.co.uk
https://www.bizsmartfranchising.co.uk

FInance, News

Working from home? Financial experts reveal ten ways to save money at home this winter

Financial experts reveal ten ways to save money at home this winter

It has been a tough year for everyone and with household bills typically rising as we head into the winter months, financial pressures are set to be exacerbated further. With the cold weather here to stay, ongoing Covid restrictions and home working, Brits could see their energy costs rise by up to £300,1 meaning there is no better time to look at ways you can save money this winter.

Experts at Hitachi Personal Finance have provided their tops tips on how to save money on your household bills:

1. Only boil the water you need

As a nation we consume 165 million cups of tea each day, yet two thirds of us boil far more water than we need. Collectively, UK tea drinkers could collectively save nearly £1 million a day in electricity savings by only boiling what’s needed. That’s not even including coffee drinkers, or anyone else boiling water for cooking2.

2. Don’t over shop

For most households, a fridge is the single biggest power consumer, running 24 hours a day, seven days a week. To keep costs as low as possible, pack your fridge about two thirds full without overcrowding. This allows the cold air to circulate and means less than a third of the cold air can escape when you open the door3.

3. Lower the thermostat

While it may seem like a small change, adjusting your thermostat to just one degree lower can have a huge impact on your heating bill, reducing it by up to 10% 4.

4. Bleed your radiators

If a radiator is colder at the top than at the bottom this usually means it needs bleeding. This process releases the trapped air that stops radiators heating up properly, impacting the efficiency of your heating system.

5. Take a shower

On average taking a shower instead of a bath saves around 40% of the water5, and therefore cuts the cost of heating that water. Of course, this is dependent on the type of shower you have and how long you shower for.

6. Consider upgrading your thermostat

Updating your thermostat to a smart thermostat allows you to create automatic and programmable temperature settings based on daily schedules, weather conditions, and heating and cooling needs. While the initial cost of this tech may seem high, keep in mind that savings through a smart thermostat could end up paying for itself in the long run.

7. Check your windows

Simply closing and opening your curtains or blinds will help to reduce the energy use of your home. Closing your blinds or curtains can add insulation to your windows resulting in less heat loss, while on sunny winter days, opening your windows will allow sunlight to shine through and help to heat inside spaces.

8. Heating help for renters

Since April, all rental properties with an energy-performance rating of F or G must be improved to E, and this cost is payable by your landlord. So, if you are renting, check if your home will be made more energy efficient as this will help reduce your heating bills.

9. Warm home discount

The warm home discount deducts £140 from winter energy bills, which benefits mainly OAPs without bumper private pension schemes. However, some low-income families and people receiving benefits also qualify for this assistance. Other benefit recipients should ask their supplier if they qualify for this discount.

10. Tax relief

If you are working from home, tax can be claimed back on up to £6 a week to help cover the additional costs, such as higher energy bills. To claim tax back on working from home costs you will need to complete a P87 form online.

You won’t have to show receipts or prove this is how much you spent, however, if you have been reimbursed by your employer, you can’t claim, as they have already included this.

You usually get the money back by paying less tax, rather than receiving a refund and therefore, your tax code may be adjusted to show this change.

Vincent Reboul, Managing Director of Hitachi Capital Consumer Finance, comments: “The effects of the pandemic, compounded by the fact many people are still working from home have meant there are widespread concerns around budgeting for heating costs this winter. However, small changes around the home could save you hundreds of pounds on your bills.

“Renters should also be aware that since April those in properties with an energy-performance rating of F or G must be improved to E and this cost is payable by your landlord. If this applies to you, check with your landlord as a more energy efficient property will help to reduce your heating bills.”

For more expert insight into how to get your home ready this winter, please visit: https://www.hitachipersonalfinance.co.uk/latest-posts/homeimprovements/get-your-home-winter-ready/

E

Law, Legal News, News

Leading legal university completes purchase of Central Law Training Scotland

The University of Law (ULaw) has announced the purchase of Central Law Training Scotland (CLT Scotland) from Wilmington plc giving the UK’s longest established specialist provider of legal education a presence in Scotland for the first time.

With nine campuses across England, as well as an online campus and provision of courses through six other UK universities, ULaw is now set to transition CLT Scotland into its first Scottish operation over the next 18 months. The deal sees ULaw acquire one of the two main providers of professional development courses in the Scottish jurisdiction.

CLT Scotland currently operates principally in providing continued professional development (CPD) courses to Scottish solicitors and trainees and, accredited courses to the paralegal sector, all designed to aid the future generation of legal practitioners.

Combining CLT Scotland’s experience in the Scottish market, and in particular in paralegal operations, with ULaw’s wealth of teaching resources and expertise, will provide first class content and ensure a wide range of legal courses are available to the legal profession in Scotland.

As part of the share purchase, ULaw is retaining the CLT Scotland team and will implement a smooth and gradual transition over the coming months, which will see CLT Scotland adopt the ULaw brand.

Professor Andrea Nollent, Vice Chancellor and CEO at The University of Law, commented: “This is a hugely exciting opportunity for our University, giving us an important presence in Scotland with a well-known provider in the market. We are confident this agreement will be very beneficial for both parties, allowing us to pool our resources to expand both the range and quality of the courses we offer.

“It is important to make a gradual transition to ensure all the valuable aspects of CLT Scotland are incorporated under the ULaw banner. Our intention is for the business to initially continue to run as it is and we will gradually integrate it into the University over roughly the first 18 months, adapting branding, employee contracts and courses.”

“We’d like to thank the Wilmington Group for its support in facilitating this deal and are confident of bringing the very best opportunities for legal education to students in Scotland.”

Mark Milner, CEO of Wilmington plc, added: “We are pleased to have found a great new home for CLT Scotland within The University of Law. CLT Scotland has been an integral part of Wilmington plc for many years and we wish them the very best for the future.”

For more information, visit www.law.ac.uk

About The University of Law (ULaw)

The University of Law is one of the longest-established specialist provider of legal education and training in the UK, with campuses in London, Birmingham, Bristol, Chester, Guildford, Leeds, Manchester and Nottingham, and international campuses in Berlin and in Hong Kong. You can also study our law courses at the University of East Anglia, The University of Exeter, The University of Reading, The University of Liverpool, The University of Sheffield and The University of Chester Law School. Our courses are also available online, full time and part time.

Accounts and Accountancy, News

More than 80% of accountancy decision-makers now rely on automation in AML, but trust remains low

More than four out of five (82%) decision-makers in accounting now use automation as part of their AML checks, despite half expressing some level of distrust in electronic checks.

The latest findings from leading AML software provider, SmartSearch, show a distinct lack of trust in electronic checks and verification, with 9% of senior business figures in accountancy saying they don’t trust current automated customer verification checks and 41% saying they only “somewhat” trust them.

While adoption of automated checks became common during the UK’s first lockdown, a surprising 23% of UK businesses across the board still have no automated processes in place when it comes to AML.

The findings are particularly prevalent as the nations braces for another lockdown, which will prevent many physical checks from taking place. With the figures in mind, SmartSearch is urging businesses to consider better automation processes to improve efficiencies and accuracy, to help navigate an ever-challenging business landscape.

Commenting on the findings, John Dobson, CEO at SmartSearch, said: “When lockdown hit first time around, businesses suffered when it came to their AML checks. These businesses rely heavily on those working in the accounting and finance industries to help steer them through challenging times, so it is somewhat encouraging to see trust levels in automation in finance are slightly higher than average – 32% said they fully trust automated processes.

“However, we can see at a UK-level that 23% of businesses still have no automation in place when it comes to AML checks. Lockdown or not, introducing automation in your business is going to create major efficiencies and free up time to focus on other business priorities.”

When asked which of the standard customer authentication checks they would trust to be automated, RCA (relatives and close associations) checks were found to be the least trusted, with just 18% saying they would be happy carrying these out electronically.

According to SmartSearch’s data, the most and least trusted customer authentication checks in accounting and finance are:

1. CDD – 55.6%

2. Credit History – 29.6%

3. SIP – 27.8%

4. Sanctions – 24.1%

5. PIPs – 22.2%

6. Identity – 20.4 %

7. RCA – 18.5%

8. None of the above – 16.7%

The accountancy industry appears best prepared for an age of automation in AML, with higher levels of trust than most. Among those working in this sector, almost a third (32%) said they fully trust the automated processes they currently have in place overall, reaching up to 56% for checks such as customer due diligence. However, 19% still admitted to having no automated checks in place in their business.

Advising businesses on what to consider when it comes to electronic verification, John added: “It’s understandable that there’s still some trepidation when it comes to e-verification and checks. You have to be able to trust that the system you’re using is totally accurate and reliable. However, if this year has taught us anything it’s that businesses simply can’t afford to ignore automation.

“There has been so much innovation in the AML market and we recently launched our market-leading TripleCheck service, so I would urge those responsible for AML checks to research the options available to them. Getting your automation right could be a major help, as we all try and navigate 2020’s challenging business landscape.”

SmartSearch launched its TripleCheck system earlier this year, providing businesses with the most robust AML solution available. The system is a pioneering new electronic KYC (Know Your Customer) and AML solution that combines innovative technology, including facial recognition and digital fraud checks, to create the most powerful AML platform on the market.

For more information about SmartSearch or its TripleCheck service, visit: https://www.smartsearch.com/

News, Remote Working

How to manage remotely in the Covid world of work

Neil Bradbrook from Ahead Business Consulting shares his tips on remote working

Covid-19 has created mass uncertainty and panic. People are worried about their jobs, their health and their loved ones. Difficult times are when leaders should shine. But how do you lead remotely?

The pandemic has created a whole new set of problems for employees and managers, as well as leaders.

For employees, working from home will suit some better than others. If you have a home office, it’s potentially easier than sitting on the settee and working off your laptop. Or living in a flatshare with several housemates all trying to do the same thing. Video calls and emails are very transactional forms of communication. As humans we are social animals. Not having the kind of watercooler chat and contact with colleagues we enjoyed in the office can feel isolating, with spin-off wellbeing issues.

Managers are generally measured on productivity. They’re used to seeing their employees in the office, where they can watch what they’re doing. Take away the office, and managers can get anxious about what their staff are actually doing. Are they watching daytime telly or putting in the washing? Some managers might start micromanaging, which can be counter-productive.

Leading differently

The leaders trying to pull the whole business together are humans too. So they’re going through the same anxieties about change and uncertainty as everyone else. With the level of uncertainty around coronavirus, it’s difficult to set direction – because you don’t know what’s happening. And then there’s the challenge of finding a way to communicate all that effectively and get your ideas across.

To answer the question I started with, I think there are three key elements to leading remotely.

The first is about removing uncertainty. In my own experience as a business consultant, really effective leaders make some assumptions. They say: this is what we’re going to do. We’re not going to wait for something else to happen. We’re going to progress, to be proactive as a business and give people clear focus. It may be a short-term solution. But it’s something to focus on. A touch point.

The second key focus is addressing that social engagement gap. There were some great stories during lockdown of different approaches. Like setting up drop-in calls, not to talk about work, but just to see how people are doing, either individually or as a group. Some leaders sent personal thank you cards or parcels to people’s homes, to thank them for dealing with the hard times. Not forgetting those employees on furlough. Even if you can’t see people face to face, things like that can make quite a big difference.

Communication choices

Connected to this is the third key element – communication. Before Covid, email traffic was already climbing. But since lockdown, it’s gone off the scale. Suddenly, people are emailing everything to everyone. Trying to read it all is stressful and time-consuming.

Good leaders need to find the right ways of communicating the right information to the right people. A phone call or video call might be good for urgent “right now” information. But for stuff that can wait, email, shared workspaces or even a letter might be better.

My closing suggestion for leaders in the new Covid normal is about training. If you’re shutting offices and making a saving on your premises, don’t bank it. Invest it in training instead. Especially for those who are stepping up to be managers for the first time.

Giving some effective training to your managers will help them understand how to manage effectively – and work with your teams in this new remote world.

News, Property, Property Buyer News

Housebuilder helps fund festive front door competition in Shrewsbury

A competition which aims to get Shrewsbury in the festive spirit is being backed by a local housebuilder.

Bellway West Midlands, which is building new homes at two developments in the town, is one of the leading sponsors for My Shrewsbury’s Decorate your Doorstep competition.

The competition encouraged people in Shrewsbury to make their doorsteps look festive for Christmas, with prizes awarded for the best decorations in the following three categories – ‘fun’, ‘stylish’, and ‘over the top’.

The winning ‘fun’ decoration will secure family tickets for four to all Shropshire Festivals events in 2021, the most ‘stylish’ decoration will be awarded a voucher of £80 off any photoshoot from Birgitta Zoutman Photography, and the most ‘over the top’ design will secure a guided family tour of Shrewsbury Prison.

Prizes will be awarded on Wednesday 16 December, the night of the town’s Carols on the Doorstep initiative, which is encouraging people to sing carols on their doorsteps in household bubbles.

In the spirit of the competition, Bellway has decorated the doorstep of its showhome at Copthorne Keep, off Copthorne Road.

Katy Rink, editor of My Shrewsbury magazine, organising the competition with photographer Birgitta Zoutman, said: “We love the idea that Shrewsbury will be the most decorated town in the UK! We are making a big noise, nationally, with our Carols on the Doorstep event and if everyone decorates their doorsteps, it will make for a fabulous atmosphere on the night.

“We loved working with Birgitta during lockdown and we are delighted to join up again to run this festive competition, whilst hopefully raising lots of money for Shrewsbury foodbank at the same time.”

Bellway West Midlands Sales Director, Marie Richards, said: “We are very proud to be supporting My Shrewsbury’s Decorate your Doorstep competition, which is a wonderful event that will help to bring festive spirit to residents in Shrewsbury this Christmas.

“It hasn’t been an easy year for many people, and we feel the competition will serve as a very light-hearted and fun way for the community to celebrate and get creative together.

“As well as decorating our own showhome doors, we are also organising food bank collection points at our sales centres at The Spinney, off Oteley Road, and at Copthorne Keep from 1 December.

We’d like to encourage those in the area to visit our developments and contribute to the cause, to help those in need this Christmas season.”

Food donations will go towards Shrewsbury Food Bank, which is run by Barnabas Community Projects. More information about their Christmas campaign can be found at barnabascommunityprojects.org/christmas.

Details of the Decorate Your Doorstep competition and the Carols on the Doorstep initiative are available at doorstepcarols.co.uk.

For more information on the new homes being built by Bellway in Shrewsbury, visit bellway.co.uk.

Finance News, News

Open banking in 2020: Yapily data reveals Open Banking’s growth into the mainstream with banks making huge strides despite Covid-19

New data released by Yapily, the UK’s leading open banking network, has revealed how open banking connectivity has become a top priority for banks in the UK as we head into 2021.

The data reveals that despite disruption to banking operations caused by the Covid-19 pandemic, banks had matured in their open banking development once the industry had entered Q3, with response times closing on those of the digitally native neo banks, such as Monzo which averages 211ms in its response time.

Some of the UK’s top banking providers were analysed including: Santander UK, First Direct, Barclays, HSBC, Nationwide, M&S Bank, Lloyds, Halifax, Natwest, RBS and AIB.

Of the banks with slow response times at the beginning of the year, these times had been dramatically reduced the further we progressed into 2020; the average response time across all banks was 1154ms in February, but by the time OBIE announced there were two million active users of open banking, the majority of banks had closed the margin between their connectivity and that of the digital first neo banks to an average of 540ms.

Commenting, Stefano Vaccino, CEO and founder of Yapily said: “With recent research from OBIE finding that 50% of the UK’s small businesses are using services from open banking providers, having faster response times between banks and open banking partners are critical to deliver better services such as borrowing, accessing payments and more.

The data showed that the most improved bank was M&S Bank, which managed to reduce its response time from 1314ms to 632ms, although compared to its competitors its final response time was slower. Elsewhere, AIB ended the year with the fastest response time of 288ms, reduced from 991ms. Natwest, RBS and Halifax started the year with some of the fastest times in 2020, and remained near the top of the table through to the end of the year.

The full list of banks analysed are below and in the attached image:

1. AIB from 991ms to 288ms
2. Natwest from 539ms to 331ms
3. RBS reduced from 533ms to 334ms
4. Halifax from 492ms to 472ms
5. Lloyds from 529ms to 491ms
6. Nationwide from 481ms to 580ms
7. HSBC from 827ms to 592ms
8. Barclays from 1180ms to 599ms
9. First Direct from 1577ms to 604ms
10. M&S Bank from 1314ms to 632ms
11. Santander UK 1502ms to 1008ms

Vaccino continues: “2020 was a difficult year for many. And there were fears that the momentum generated last year with Open Banking would be stunted, but our data provides confidence within the industry. Open Banking is not only growing quickly, but it’s also being taken very seriously by traditional banks. And that’s shown by response times getting faster, indicating better connectivity.

“As we head into 2021, we expect open banking to really come into its own, as financial institutions look to launch and connect with new services aimed at giving customers better control, greater security and an improved experience.

“There will be a huge uplift in payments too, as merchants begin to understand the cost benefits that open banking can bring. With banks maturing in their approach to open banking, we’ll also see more movement towards open finance, which will lead to the growth of services geared towards offering more personalised and improved services such as lending, savings, insurance, pensions and more.”
Notes on the data:

The data was compiled and monitored throughout the year by Yapily’s API platform. The company’s open banking infrastructure is used by some of the world’s leading companies such as American Express, IBM, Intuit Quickbooks, IRIS and more.