Labour should reverse VAT raid on private schools — not scoff at parents
Predictably enough, a mere six months after first coming into force mid-way through the financial year, the policy has proved far more damaging than Labour's optimistic projections suggested. Though
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Finextra
28 minutes ago
- Finextra
Fintech Scotland sets out operational resiliance challenge
Operational Resilience UK is the focus of a new fintech innovation challenge uniting major financial institutions, regulators, and academia. 0 The initiative's goal is to jointly develop solutions that are ready for the future and strengthen the UK financial system against operational and digital threats. A coalition of leading financial institutions including Sword Group, Natwest, Morgan Stanley, Dudley Building Society, The Tipton, Unity Trust Bank, M&G, Pinsent Masons, Tesco Bank, Aberdeen and KPMG have joined forces to launch a UK-wide innovation challenge focused on strengthening operational resilience across the financial sector. Delivered in partnership with FinTech Scotland through the Financial Regulation Innovation Lab (FRIL), and collaborating with SuperTech WM to help expand the reach and impact across the UK, this initiative calls on fintech innovators to co-create next-generation solutions that can safeguard the financial system in an increasingly digital world. Operational resilience is a top priority for the UK's regulators, including the FCA, Bank of England and HM Treasury, as the sector adapts to growing digital disruption, complex supply chains, and rising consumer expectations. This challenge reflects a shared commitment from industry to proactively address these risks through collaboration and innovation. This Operational Resilience UK initiative demonstrates a growing dedication to using cooperative fintech development to adapt to complex digital ecosystems. In the face of escalating demand for seamless digital services, the challenge is designed to source practical, scalable solutions that can help firms stay resilient, responsive, and secure. It will offer selected fintechs the opportunity to work directly with financial institutions, gain valuable insights into real-world resilience challenges, and receive expert input from leading academics from the University of Strathclyde and the University of Glasgow. Successful applicants may also be eligible for up to £50,000 in grant funding to accelerate the development of their solution. The programme will culminate in a showcase event in Glasgow, where participants will present to industry and regulatory stakeholders. FinTech firms from across the globe are encouraged to apply before the deadline on August 15th. More details can be found here. Nicola Anderson, CEO of FinTech Scotland: 'This challenge is a powerful example of how collaboration can drive meaningful change. By bringing together fintech innovators, academic insight, and industry expertise, we're not only responding to the increasing demands of the digital economy, we're actively shaping a more resilient and adaptive financial system for the future.' Rob Mossop, COO Financial Services and International, Sword 'As a trusted technology partner, we recognise that operational resilience is moving beyond meeting regulatory requirements. It has become a business imperative with clear impact on business growth. We understand the critical role that trusted and adaptable solutions play in helping financial institutions respond to disruption and build competitive advantage. We are excited to see how this challenge brings together the best of industry, academia, and innovation to utilise technologies that don't just withstand disruption but enable agility and enhance trust in the face of it' Hilary Smyth-Allen, CEO SuperTech 'Our longstanding partnership with FinTech Scotland, to expand the reach of the Financial Regulation Innovation Lab, has delivered fantastic impact in previous programmes for both the fintech innovators and financial services participants. We look forward to seeing the collaborative opportunities arising from this open innovation challenge focusing on operational resilience.' Nicole Alston, Innovation Engagement Manager, NatWest 'Natwest Group are proud to support this challenge, which represents a fantastic opportunity to work hand-in-hand with fintech innovators to shape the next generation of operational resilience. By combining industry insight with fresh thinking, we can build smarter, more adaptive systems that protect customers and maintain trust' Luke Scanlon, Pinsent Masons 'Strengthening operational resilience isn't just a regulatory expectation, it's a shared responsibility across the financial ecosystem. This challenge is a compelling example of how partnerships between fintechs and industry, can drive innovation that's both agile and aligned with evolving regulatory frameworks. It's a chance to build practical solutions that work in the real world' Samuel Kennedy, Head of Operational Risk, Dudley Building Society 'For building societies, operational resilience is fundamental to maintaining the trust of our members and communities. This challenge is a chance to work alongside fintechs to explore innovative solutions that protect continuity of service, while ensuring we remain agile and responsive in a changing digital landscape.' Will Lynch, Group Deputy COO, Aberdeen 'Aberdeen's involvement in FRIL has shown the power of collaboration in tackling complex regulatory and operational challenges. We are looking forward to contributing the next phase of FRIL in an increasingly important part of the regulatory landscape.' David Owen, Head of Business Risk at Unity Trust Bank: 'Operational resilience isn't just about meeting regulatory compliance; it is about reinforcing our customers' confidence that we can withstand disruptions and continue to serve them effectively. At Unity Trust Bank, resilience is fundamental to our double-bottom-line approach: it supports sustainable business growth while deepening the trust that our socially minded customers place in us. By collaborating with fintech innovators, industry partners, and thought leaders, we are developing smarter, more adaptive systems that not only ensure continuity but also strengthen the core principles of ethical banking. The Financial Regulation Innovation Lab is part of the larger Glasgow City Region Innovation Accelerator programme. Led by Innovate UK on behalf of UK Research and Innovation, the pilot Innovation Accelerators programme invested £100m in 26 transformative R&D projects between 2022-25 to accelerate the growth of three high-potential innovation ecosystems - Glasgow City Region, Greater Manchester and West Midlands. The programme was boosted by an additional £30m of public funding for 2025/26 spread equally across the regions. Innovation Accelerators is piloting a new model of R&D decision making that empowers local partnerships to harness innovation to drive regional economic growth, attract private investment, and develop future technologies. By launching this nationwide initiative, Operational Resilience UK takes a leap forward in supporting secure, adaptive, and innovative financial services.
Finextra
28 minutes ago
- Finextra
MTN completes first transaction using JPMorgan's new Electronic Bill of Exchange offering
Mobile Technology Network South Africa (Pty) Ltd. (MTN SA), a major mobile telecommunications provider, has successfully completed the first transaction using J.P. Morgan's new Electronic Bill of Exchange (eBoE) offering – marking a pivotal step in the digitization of global trade finance. 0 The transaction facilitated the shipment of goods from Asia to the United Kingdom (UK). Today, large portions of the global trade finance industry still use paper and wet ink signatures for the selling or procuring of goods and/or services. As part of the industry's digitization shift, we are one of the first banks to transition eligible programs to Electronic Negotiable Instruments (eNIs) incorporating electronic signatures. The Electronic Trade Document Act (ETDA), which passed in the United Kingdom (UK) in 2023, is helping facilitate this trend by mandating that certain Negotiable Instruments - such as Bills of Exchange and Promissory Notes - in electronic form are to be treated in the same way as they would be in physical form. Dino Molefe, Chief Finance Officer at MTN SA said, 'MTN South Africa has been a leader in developing our working capital strategy as it pertains to our procurement of devices. J.P. Morgan and MTN SA have collaborated closely to unlock additional liquidity through innovative solutions, making us the ideal collaborator to pioneer this digital tool.' We have implemented Enigio's trace:original solution to facilitate the creation, management, and storage of eNIs, which satisfy the legal requirements of the ETDA. Using Enigio's blockchain infrastructure, an eBoE is securely signed and updated throughout its lifecycle, improving transparency and streamlining workflows, while enabling automatic data transfer and reducing risks and errors associated with traditional manual processes. The offering is initially available to companies transacting under English law. 'Our goal is to be at the forefront of the future of trade, as one of the first banks to approve the financing of a select set of Electronic Negotiable Instruments,' said Natasha Condon, Global Head of Trade Sales and Head of EMEA Trade at J.P. Morgan. 'By collaborating with Enigio, we are able to further the digitization of trade, ultimately helping corporations access working capital benefits in a much more streamlined way, how and when they need it.' 'Our trace:original solution has been designed to address the complexities of global trade while ensuring compliance with evolving regulations,' said Patrik Zekkar, CEO of Enigio. 'This transaction is a significant step forward in proving that electronic trade solutions can operate at scale - and that they are already doing so.'
The Independent
29 minutes ago
- The Independent
These eBay discount codes will save you up to 15% in July
Whether you're after a new gadget or a pre-loved designer bag, eBay is one of the UK's most popular online marketplaces for a reason. With millions of listings from top brands and individual sellers, there is a wide variety to shop, including everyday essentials, fashion, beauty, tech and even one-of-a-kind pieces. Whilst eBay is already known for its competitive pricing, The Independent's team of deal experts has been hard at work finding the latest eBay discount codes and offers to help you save even more. How to save on your eBay order Use an eBay discount code Ebay often releases promo codes with savings on selected items, sellers or categories, which we'll list above. You'll regularly find a 10 to 15 per cent discount on certain categories or products, such as mobile phones or summer essentials. Payday deals are also a regular occurrence, with up to 20 per cent off. Most codes come with a minimum spend of £9.99 or more, depending on the category's value. Shop the summer sale Ebay's seasonal sales are an excellent way to save more than half price on bestselling products. The summer sale is currently in full swing with discounts on big brands across tech, fashion, garden tools and more. Some of our favourite deals include up to 50 per cent off selected cooling and fans, 55 per cent off summer bedding and more than 1,000 summer scents under £30. Browse the daily deals section The eBay daily deals section offers limited-time promotions on everything from kitchen appliances to beauty buys, often with free postage. These deals are hand-picked and usually run for just 24 to 48 hours, so if you spot something you like, don't hang around. Recent deals have included 44 per cent off a brand new Worx robot mower, bringing the price down from £799.99 to £449.99. We also spotted 27 per cent off new Ninja woodfire BBQ grill and smoker, saving you more than £80. Shop refurbished products Choosing certified refurbished products over buying brand new is a smart way to save on high-ticket items tech and appliances. Each item is expertly serviced and cleaned before re-listing, with all accessories included. Plus there's a minimum 12-month refurbished guarantee, which covers any defects or issues with functionality. You will receive a separate email from eBay with full details of what's covered, along with contact details – this will also be included in the package. You can buy pre-loved items direct from some of our favourite tried-and-tested brands such Dyson, Apple, Eufy, Shark and more, with savings of up to 50 per cent compared with buying brand new. Support online charity shops Speaking of pre-loved, eBay also has a variety of charity shops ready to shop online, including Oxfam, Sue Ryder and The British Heart Foundation. Just like high street charity shops, you can browse a wide selection of items, from fashion to furniture, with proceeds supporting a range of causes. You can browse by charity or product category to find thousands of items at bargain prices. Helpful information for buyers Reduced buyer protection fee Ebay's buyer protection fees give you extra security when purchasing from private sellers. The fee is automatically added to all private purchases and includes 24/7 customer service, encrypted transactions and ensures sellers aren't paid until after you have received the item. From 17 July, eBay has reduced the buyer protection fee to the following rates: A flat fee of up to 10p per item Seven per cent on the first £20 Four per cent on the portion from £20 to £300 Two per cent from £300 to £4,000 There is no fee charged beyond £4,000. For listings that started before the new rate on 17 July, the older rate applies: a 75p flat fee, plus four per cent up to £300 and two per cent from £300 to £4,000. Delivery and returns Delivery costs and return policies vary depending on the seller, but many offer free postage and easy returns. You can find full details on the product listing or, to make it even easier, filter your search results to show sellers who offer free postage and packaging or click and collect, as well as free returns. Ebay money back guarantee To give you added peace of mind and security, most purchases from the online marketplace are covered by the eBay money back guarantee. If your item doesn't arrive, arrives damaged or not as described, you'll be able to request a refund from the seller. If you don't hear back in three business days, eBay will step in to support. There is no extra fee for this protection, and it covers the entire purchase price, including shipping costs. How we find the best eBay deals We work closely with the team at eBay to bring our readers the latest deals and offers. Our team of expert deal hunters are always on the lookout for ways to help you save on your shopping, whether it's discounted refurbished items or flash sales on brand new products. Why you can trust us The Independent has been trusted by shoppers since 1986, helping readers find the best deals and testing products on their behalf. Our team of shopping experts are experienced in sourcing the best offers, discounts and finding the latest sales. We only select deals from brands that we trust and we understand that a great deal isn't always the one with the highest discount.
