Mastercard and Virgin Money Team to Expand UK Open Banking

Virgin Money will implement Experian’s full suite of cloud-based technology, including credit and lending, fraud prevention, analytics, governance and compliance. In the first phase of this strategic partnership, Virgin Money will leverage Experian’s solutions to offer personal loans to both new and existing partners later this year,...

The U.K. bank Nationwide Building Society is set to acquire Virgin Money for $2.7 billion. The boards of the two companies reached a preliminary agreement to the deal on Thursday (March 7), saying their merger would make them Great Britain’s second-largest provider of mortgages and savings.  “The combination of our...

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 U.K.’s major banks have joined forces to protect consumers’ access to cash. A new nonprofit company called Cash Access UK has been set up by the country’s main banks and building societies to promote the development of shared banking hubs across the country. According...