The U.K.’s largest mortgage lenders have agreed on measures to help struggling borrowers. The new measures follow a meeting between the chancellor, Jeremy Hunt, and representatives of the country’s major mortgage lenders earlier this month. In that meeting, Barclays, HSBC, Lloyds, Nationwide, NatWest Group, Santander...
The syndicated loan market has ballooned the past few decades, but technology has lagged, badly. Syndicated loans represent a $5 trillion corner of finance, and $1.4 trillion of that is traded annually through private instruments widely used for financing in corporate America. The loans themselves...
Versana has launched an industry-backed syndicated loan platform. By digitally capturing agent banks’ deal data on a real-time basis, this centralized solution connects banks, institutional lenders and their service providers and provides transparency, efficiency and velocity, Versana said in the Tuesday (Dec. 13) press release....
Some Eurozone banks reportedly may have trouble paying back the European Central Bank (ECB). Banks are now repaying loans from the ECB’s Targeted Longer-Term Refinancing Operations (TLTRO) because the central bank raised the borrowing costs. Still, they may find it more difficult to raise funds in the...
Besides enabling mail deliveries, Europe’s post offices are evolving to meet modern banking needs. Leveraging their established branch networks and existing infrastructure, the likes of France’s La Poste, Italy’s Poste Italiane, and Post Office in the U.K. are becoming an increasingly powerful banking center, creating...
Europe’s banks will likely reduce lending next year as the region dips into a recession. That’s according to a Sunday (Dec. 4) Financial Times report, citing data from the consultancy EY. The report says that the reduction in lending — the first in nine years...
Zventus has launched a solution designed to help lenders better compete with FinTech companies. The global business services provider said in a Friday (Dec. 2) press release that its new FinTech-in-a-Box enables lenders of all types to simplify lending processes, improve the borrower experience, reduce...
Propel Holdings, a FinTech that offers users access to credit in the United States, has entered the Canadian market with an online credit offering for underserved Canadian consumers. Fora Credit is now available in Alberta and Ontario and will be rolled out into additional provinces...
When the COVID-19 pandemic struck in 2020, the U.K.’s Financial Conduct Authority (FCA) asked the country’s lenders to offer payment deferrals as a means of supporting customers struggling to meet their repayment obligations because of the crisis. In a report published last week, the FCA...