Banking

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The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have fined TSB Bank (TSB) a total of £48,650,000 for operational risk management and governance failures, including management of outsourcing risks, relating to the bank’s IT upgrade programme. Technical

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Barclays Eagle Labs and AccelerateHER have announced a new partnership aimed at bringing more women into entrepreneurship and levelling the playing field for female-founded businesses. The two organisations will work closely together to deliver the Barclays Eagle Labs Female Founder Accelerator Prog

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Clydesdale Bank owner Virgin Money has posted annual results showing a pre-tax profit of £595 million and announced a boost to staff wages. The pay hike was announced internally earlier this month and will see the majority of the bank's 7,500 staff receive between 9% and 11% extra in total ove

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At the UK level, a fall in permanent staff hires was also noted, with the rate of decline similar to that seen in Scotland. Hiring activity across Scotland fell into decline during October, with both permanent staff appointments and temporary billings contracting, according to the latest Royal Bank

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Santander has announced it will start capping bank transfers to crypto exchanges starting this month. Following warnings from the Financial Conduct Authority (FCA) on the risks of investing in cryptoassets, the bank has been gradually taking more steps to reduce the risk to consumers falling prey to

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Bank of Scotland owner Lloyds has reported a 26% drop in profits in its Q3 results as it braces for more defaults on bad loans. Profits were down to £1.5 billion, lower than the average forecast of £1.8bn as analysts expected a significantly small drop in profits of around 9.5%. However,

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New research has revealed that savers in the UK are prioritising short-term flexibility over locking their money away for the long-term, as the cost of living crisis forces people to change how they manage their finances. The study, by digital bank Chase, found that instant access to money without c

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