Tag Archives: financial

News, North of England

The TALL Group of Companies are proud to employ local talent in Runcorn

The TALL Group of Companies, a UK leader in the provision of security print, secure payment and online solutions has recently recruited an additional 5 new permanent employees at its facility in Runcorn, Cheshire.

Operating from three secure, accredited production facilities in Runcorn, Hinckley and Lisburn (Northern Ireland) the TALL Group try to recruit locally wherever possible. The Runcorn site delivers the TALL Group’s security print solutions including a wide range of securely printed paper documents, ranging from cheques to gift vouchers and from certificates to ballot papers for elections around the world.

The new office-based positions in Runcorn range from Despatch & Warehouse to the Finance department, and are all vital to the smooth running of the organisation.

Martin Ruda, TALL Group Managing Director commented: “As a large employer, we take our responsibility to the local community seriously. We know how much talent there is in Runcorn, and the surrounding areas, and we want people to consider a career with us. We will continue to advertise new positions locally and hope to recruit from the Runcorn talent pool!”

Lenka Sanislova, Management Accountant at TALL Group added: “I’m thrilled to have joined the TALL Group at their Runcorn site. Everyone has been really welcoming and I feel part of the team already. It’s great to work for an organisation that values their people and supports them in their development. I look forward to the working on some exciting projects in the future.”

News

Record number of European consumers abandon financial applications during onboarding

  • 68% of consumers have abandoned a financial application, up from 63% in 2020
  • This highlights the “expectation paradox” where, despite improvements in the onboarding process, consumer expectations and abandonment rates are increasing
  • 92% of consumers are concerned about how financial service providers use their data

Trondheim, Norway, 30th March 2022: Signicat, the Trusted Digital Identity™ company, today revealed new research that shows 68% of consumers in Europe have abandoned financial applications in the past year. The results are the worst for financial service providers since the Battle to Onboard report debuted in 2016, which has seen the abandonment rate steadily increase over the last five years.

The fifth edition of Signicat’s regular report, The Battle to Onboard: The Growing Power of Consumer Demands, is based on a survey of 7600 consumers across Europe including Belgium, Denmark, Finland, France, Germany, Lithuania, the Netherlands, Norway, Poland, Spain, Sweden, the UK, Estonia and Ukraine. Consumers were asked to report their experiences and expectations of financial services onboarding in the last year.

Financial service providers must comply with Know Your Customer (KYC) and Anti Money Laundering (AML) rules which requires them to gain access to and check a consumer’s personal information. Unfortunately, all too often identity checking processes are not designed for digital, do not consider local market nuances and create a poor user experience for the consumer.

Key findings include:

  • Ease of application: Nearly a third (30%) of respondents said that they found the application process “complicated”.
  • Speed of abandonment: The average time that a consumer would typically abandon an online application for a financial product was 18 minutes and 53 seconds. This is seven minutes quicker than the 26 minutes on average it took for a consumer to abandon in 2020.
  • Reasons to abandon: The time to apply (21%), the amount of personal information required (21%) and changing their mind (21%) are the main reasons applications are abandoned.
  • Importance of onboarding methods: 38% of respondents report abandoning an application for a financial product because they did not have the right identity credentials, such as a passport or digital identity.

Interestingly, the research found an “expectation paradox” when comparing markets. Those countries with an easier and faster onboarding experience—thanks to digital identity schemes like BankID —did not necessarily have happier consumers that are less likely to abandon an application. In fact, consumers in “more mature” digital identity markets were more demanding, less likely to tolerate a bad experience and in some cases more likely to abandon an application than in “less mature” markets.

The report also found that:

  • 92% of consumers are concerned about how financial service providers are using and taking care of their data, thanks in part to a lack of understanding of why this data is needed.
  • Assumptions about different countries are dangerous—new identity technologies are not universally popular in every country, though digital identity schemes are the closest to this ideal.
  • COVID is still affecting access to services. 42% of respondents found they were unable to access essential financial services as they were either inaccessible or unavailable digitally—up very slightly from 2020.

“A record number of consumers have abandoned financial service applications in the last year which is a wake-up call to the industry. The solution however isn’t simple. While digital identity makes onboarding quicker, this better experience makes for higher expectations from consumers—and increased abandonment if these are not met,” said Asger Hattel, CEO, Signicat. “The key to creating a better onboarding experience is an in-depth knowledge of the market, an understanding of consumer behaviour and the ability to offer multiple onboarding methods.”

The report is available at Battle to Onboard 2022: The Growing Power of Consumer Demands.

News

Segura warns retailers to prepare for the Taskforce on Climate Related Financial Disclosure (TCFD)

Retailers need to be ready to act on the requirements of the Taskforce on Climate related Financial Disclosure (TCFD) or potentially risk a number of financial and reputational penalties, according to Segura, the leading platform for next-generation supply chain transparency.

Peter Needle, Founder and President at Segura, said: “The time for procrastination is over as this legislation requires urgent action. Retailers must fully understand and asses their supply chain risks. TCFD is already advisable and reporting becomes mandatory for the financial year following April 2022. Non-compliance will immediately affect the cost of capital, create negative publicity, threaten board room incentives and will gradually attract sanctions.”

TCFD was set up by the Financial Stability Board (FSB) in 2015, to develop recommendations for climate-related disclosures. From 6 April 2022, over 1,300 of the largest UK-registered companies and financial institutions will have to disclose climate-related information on a mandatory basis. This will include many of the UK’s largest traded companies, retailers,  banks and insurers, as well as private companies with over 500 employees and £500 million in turnover.

With less than 6 weeks to go companies will need to be ready to disclose their governance around climate-related risks and opportunities; the actual and potential impacts of climate-related risks and opportunities on the organisation’s operations, strategy, and financial planning; how the organisation identifies, assesses, and manages their climate-related risks; together with what metrics and targets they will use as part of their assessment.

Needle comments: “Although initially the legislation will focus on climate-related information for the 1,300 largest UK-registered companies, others shouldn’t be complacent. If it follows previous legislation, this could be rolled out across a much broader number of companies, and encompass other environmental considerations.  At Segura we are already working with some of the UK’s leading retailers, helping them to achieve ethical, sustainable and compliant multi-tiered supply chains through automatic supplier onboarding, mapping and reporting.”

Needle strongly advises that failure to comply with TCFD will put companies at risk of audit non-compliance and strategic risk to business continuity.  “In the next financial year, larger UK retailers must fully understand all parts of their supply chain, in order to provide TCFD reporting. This requirement goes beyond Tier 1 and Tier 2 and reaches through the whole multi-tier supply chain. Typically, this is where 96% of a retailer’s carbon footprint exists and 100% of their exposure around safe and ethical working practices.”

Please see the whitepaper download here: https://inbound.segura.co.uk/resources/downloads/tcfd-and-the-implications-for-retail

Appointments, FInance, News

Keysource appoints new Finance Director

Keysource, the global datacentre and critical environment specialist, has appointed a new Finance Director to support the business as it continues to see significant growth across all its service areas – consultancy, project delivery and critical operations services.

Dan Hyner brings with him a wealth of experience having held senior roles within the UK construction and multinational professional services sectors. In his new role he will be responsible for ensuring that Keysource has the right financial structure and processes to support the next stage of its growth.

Stephen Whatling, Managing Director at Keysource, said: “I have long respected Dan’s work ethic and hold him in the highest regard for the quality of his work and his technical knowledge. He has a good understanding of what we do here and will be a real asset to our team.”

Commenting on his appointment Dan Hyner, said: “This is a great opportunity for me to join a business that has a 40 year plus heritage of ensuring business continuity for organisations across the world. The company’s ability to move swiftly within the ever-changing digital marketplace and to deliver innovative solutions is unrivalled in the sector and I am excited play a part.”

Awards, Finance and Banking, News

DLRT Awarded Leading Financial Services Supplier Qualification

DLRT, part of The TALL Group of Companies, the UK leader in the provision of secure paper and electronic payment solutions, has been awarded the Hellios Financial Services Supplier Qualification (FSQS). The Lisburn-based printing specialist achieved the certification which is required by major Banks and Financial Services Organisations when selecting suppliers.
FSQS is designed to improve the standard of suppliers through a common set of policy and risk areas including IT Security, Operational Risks, GDPR and Responsible Business Governance which are regularly reviewed and updated to stay ahead of regulatory changes.

As the regulated environment becomes more complex, the rigorous qualification system provides a standardised way to manage requests for compliance and assurance information.
FSQS is currently used by 32 major Banks, Building and Insurance companies including Lloyds Banking Group, Metro Bank, Santander, TSB, Clydesdale Bank and The Bank of England.
Peter Thomas, Managing Director of DLRT, said: “We are extremely proud to have successfully achieved this accreditation which demonstrates our strong commitment to compliance and responsible business practice. It underpins our credentials within the financial services sector providing products and services that meet the compliance and regulatory requirements of our clients.”

“I am also pleased to say that this certification recognises the hard work and dedication that all our staff in Lisburn has made during the ongoing COVID-19 pandemic. Operating throughout as a ‘key’ supplier to the financial sector, they have ensured a continuous supply of personalised printed products to our clients and their customers.”

Contract Wins, Creative News, Finance News, Marketing, PR and SEO, News

OpenMoney appoints Havas Media Manchester as media planning and buying agency of record as it seeks to revolutionise the financial advice and mortgage categories

OpenMoney, the financial platform with a mission to make financial advice affordable and accessible for everyone, has selected Havas Media Manchester as its media planning and buying agency of record, with a significant seven-figure annual spend. The appointment follows a competitive pitch against three agencies.

Havas Media Manchester will now partner with OpenMoney to develop media planning and buying strategies to support the launch of a major brand campaign as well as its new mortgage proposition, Home by OpenMoney.

The ground-breaking mortgage product will be aimed at first time buyers who have no experience and little access to the mortgage world. Home by OpenMoney will offer these consumers completely free and impartial support and advice on every aspect of the home buying process, with access to real-time updates via its app and portal.

OpenMoney’s media planning and buying was previously handled by Wavemaker.

Anthony Morrow, CEO, OpenMoney, said: “‘We were hugely impressed by Havas Media’s strategic approach, which centred around positioning Home by OpenMoney as an enabler for community, as well as their understanding of our brand and business challenges. We’re very much looking forward to partnering with them as we continue to disrupt the financial advice industry in order to make it work better for everyday people.”

Stuart Lunn, Managing Director, Havas Media Manchester, said: “We’re delighted to have been appointed by OpenMoney. They’re making ground-breaking strides in providing exceptional and affordable financial advice to everyone, and they’re an inspirational business, with great products and even better people. As two likeminded, disruptive brands, we cannot wait to begin our journey together.”