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New lenders accredited to British Business Bank Coronavirus Business Loan
Today the British Business Bank has announced that it has approved Allied Irish Bank (GB)/AIB (NI), Investec Bank plc and Mercedes-Benz Financial Services UK Limited for accreditation under the Coronavirus Large Business Interruption Loan Scheme (CLBILS).
These three new CLBILS lenders will be able to provide finance to midsized and larger UK businesses with a group turnover of more than £45m (the upper limit for the existing smaller-business focused CBILS) that are suffering disruption to their cashflow due to lost or deferred revenues during the Covid-19 outbreak.
Following their approval, each lender will put in place the operations required to start lending under the scheme and will confirm the dates from which they will be ready to start receiving applications from businesses across the UK.
Government published statistics show almost 1.2 million businesses have to date benefitted from loans and guarantees worth £50.69 billion through schemes delivered by the British Business Bank. This includes 1,135,575 Bounce Back Loans worth £34.3 billion, 58,595 facilities worth over £13.1 billion through the Coronavirus Business Interruption Loan Scheme and £3.3 billion through the Coronavirus Large Business Interruption Loan Scheme.
The Bank continues to review applications from a wide range of lender types – from PRA-regulated banks, to platform lenders, debt funds, invoice finance lenders, asset finance lenders and responsible finance lenders.
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Sustainable Growth and Building Strategic Capability in Digital Transformation
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Sygnum Completes First Live AI-Agent Driven Digital Asset Transactions by a Regulated Swiss Bank
Sygnum, a global digital asset banking group, today announced it has become the first Swiss regulated bank to use an AI agent to test live digital asset market transactions, with the client retaining custody, consent and control at every step. This is the latest initiative from AI@Sygnum which leads the development, integration and governance of agent-driven workflows across the group globally.
CMC Markets Launches Spectre Trading Account for Retail Clients
CMC Markets (“CMC”), a FTSE 250 company and global leader in multi-asset online trading and investing, has launched Spectre for retail clients, following strong demand after the product was initially introduced for professional traders.
Ingenico and Arrive Partner to Power Seamless Payments for On‑Street Parking and Urban Transport Worldwide
Ingenico, a global leader in payment acceptance solutions, and Arrive, a leading global mobility platform, today announced a strategic partnership to deliver reliable, seamless payment experiences for on-street parking and transport ticket vending machines across more than 30 countries worldwide.
Zurich Scales Agentic AI to Five Countries in 90 Days Cutting Manual Risk Processing Time by 80%
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JCB and Wonder Advance Cashless Taxi Payments in Hong Kong
JCB International Co., Ltd, the international operations subsidiary of JCB Co., Ltd, Japan’s only international payment brand, and Wonder Ventures Limited, a leading payments and fintech platform in the Asia Pacific, announced that JCB Cards are now accepted on Wonder Taxi in Hong Kong.
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