UK Fintech News Roundup: The Latest Stories 25/01

Every Wednesday we delve into the latest fintech updates from across the UK. This week brings updates from Tandem Bank, OneBanx, CMC Markets, implicit and more.

Tandem Bank introduces top-up of existing interest rates

Tandem Bankthe UK-based green digital bank, has launched an interest top-up for its instant savings accounts.

The top-up enables Tandem customers to apply the price to their savings account for instant access. This adds an increased rate on top of their existing rate. The top-up will be valid for 12 months once added. Should the underlying interest rate be 2.55 per cent AER, a top-up of 0.20 per cent AER will ensure a new interest rate of 2.75 per cent for 12 months.

Ben Mitchell, director of savings at Tandem Bank, commented: “We have made it very easy for our customers to top up their current rate for instant access and will be contacting customers to provide them with a link to the Tandem app to search or use the rate on the phone. Before the top-up period expires, we will contact them in good time to inform them.”

CJ Lang chooses RELEX

Independent retail and distribution company CJ Lang & Son Ltd has entered into cooperation with RELAXprovider of unified supply chain and retail planning solutions, to automate and optimize their supply chain processes.

RELEX aims to provide integrated store and DC forecasting and replenishment. It also plans to improve allocations and promotional forecasts for CJ Lang & Son Ltd, the wholesaler for SAVE in Scotland.

Jason Berry, VP Sales EMEA at RELEX Solutions, commented on the partnership. Berry said: “RELEX is very pleased to announce our partnership with CJ Lang and to have another SPAR unit join the RELEX family. We are extremely confident that we can add value to their business and are also delighted to to use our market experience to help CJ Lang automate and streamline their operations.”

Morgan Mckinley launches 2022 London employment monitor

The number of financial services jobs in London is close to reaching 2019 levels of employment according to Morgan McKinley’s 2022′London Employment Monitor‘.

The report found a 36 percent increase in job seekers for 2022 from 2021. Despite this, there was also a 16 percent increase in job vacancies for the same period. The Recruiting Monitor for Q4 2022 showed an eight percent decrease in job vacancies compared to Q3 2022. Morgan McKinley attributed this to the uncertain economic situation and the holiday season.

Håkan Enver, CEO of Morgan McKinley UK, commented: “2022 was another eventful year with major economic events, high inflation rates and political change, with Rishi Sunak as our third Prime Minister of the year. It does not come as a surprise that economic optimism and business confidence have fallen. However, the number of financial services jobs in London through 2022 continued to rise post-Covid, reaching 2019 hiring levels.

Newcastle Building Society offers multi-bank kiosks

Newcastle Building Society partnering with shared bank branch innovator OneBanx to provide access to a multibank kiosk. The partnership aims to keep cash alive and keep UK high streets ‘alive’.

Backed by global leaders in cash automation GLORY, OneBanx developed the kiosk to support communities without access to daily banking services. The kiosks also use open banking technology to allow customers of any bank in the open banking network to withdraw and deposit cash from their accounts. The building society aims to provide access to the kiosk in two of its branches in the North East and North Yorkshire.

Andrew Haigh, chief executive of Newcastle Building Society, commented on the decision. He said: “Since January 2015, banks have announced the closure of more than 5,000 branches across the UK. However, Newcastle Building Society remains absolutely committed to providing accessible face-to-face financial services in our communities.”

Melton sees the biggest pay rise

Melton has seen the biggest rise in pay in the past year with a 35 per cent increase in hourly wages, the UK financial services provider revealed. CMC Markets. The village had an average hourly wage of £13.33 in 2021, rising to £17.99 in 2022.

The Essex area of ​​Maldon took second place, after an average hourly wage increase of 31.77 per cent. The Cotswold area, located in Gloucestershire, takes third place. The area currently has an average hourly wage of £17.81, which increased by 24.89 per cent from 2021’s value of £14.26.

The London borough of Sutton took fourth place. In 2021, the area had an average hourly wage of £16.82. The average in 2022 now stands at £20.73, an increase of 23.25 per cent.

implicitly launches dealer channel

Provider of accounting software implicitly is set to launch a reseller channel to enable its partners to offer true cloud accounting software to growing businesses and gain new, larger customers.

The implicit channel program will allow retailers to fill a gap in their portfolios, allowing them to retain their existing customers as those businesses grow while developing new and recurring revenue streams.

Alexis Gortoniplicit channel manager, said, “iplicit’s reseller channel allows partners to offer a complementary solution to their existing lines of business – and is a strong product to offer when looking for new business.”