‘Environmental, social and governance (ESG) in a volatile world’ was a key theme in a gathering of the largest financial services players this week in Edinburgh.
The summit saw the World Bank, the Bank of England, government ministers and many worldwide major firms address the climate emergency and other pressing global challenges. NatWest Group hosted the summit at its Gogarburn headquarters. The likes of Sarah Breeden, executive director at the Bank of England, delivered keynote speeches on topics, such as ‘the nature of risk’.
Omar Shaikh, managing director of the Global Ethical Finance Initiative commented: “When we come together to share insights and commit to action, we truly can change the world. Alongside governments, private financial institutions must step up to help build a responsible, inclusive, sustainable and green future.
“Larger financial services firms will have to show real leadership if ethical finance is to cascade down to smaller companies, through the supply chain, and into the wider economy. The challenge of climate change is daunting – but giving up is simply not an option. Banks and financial institutions hold the key to building a more sustainable world.”
Treasury and liquidity management technology provider Hazeltree is opening a new fintech engineering centre in Bournemouth on Tuesday 1 November.
The centre will open as part of Hazeltree’s expansion plans following rising demand for its cloud-based solutions for private investment firms. The centre creates space for up to 70 positions; some of which the fintech is currently recruiting from the local community.
Sol Zlotchenko, chief technology officer and head of private markets at Hazeltree said: “We are thrilled to set up shop in the digital hotspot of Bournemouth. With its engineering power and depth of tech talent, we are confident the centre will help take Hazeltree from strength to strength as we further enhance our best-of-breed treasury and liquidity management FinTech capabilities at a time of increasing complexity in global markets.”
Workplace pension and savings provider Cushon has partnered with the University of Lincoln to launch an alternative savings option for young people excluded from the pension auto-enrolment scheme.
The student employees working for the university are auto-enrolled into a savings pot, provided by Cushon. Following the end of the first academic year in which this scheme ran, 1,012 students were automatically enrolled, with only eight per cent opting out of the scheme.
Steve Watson, director of policy and research at Cushon said: “We must ensure that everyone in society is set up for a secure financial future. Working with [the] University of Lincoln, we have been helping achieve this by contractually enrolling working students into a workplace savings scheme with great success. Just like a pension, they have the choice to opt out and if their circumstances change and they do ever meet the pensions auto-enrolment regulations, they can be easily switched over into the pension scheme.”
Former UFC featherweight and lightweight double-champion Conor McGregor is now a brand ambassador for retail trading ecosystem Tiger.Trade.
As the fintech looks to rapidly expand by appealing to both professionals in the field with significant experience and more casual retail customers, McGregor will help to drive brand awareness.
“Conor McGregor is exactly the person we want in our corner as we strive to lift our worldwide customers to new heights,” explained the founder of Tiger.Trade, Viktor Mangazeev: “Trading, particularly on bear markets, as the global economy experiences shock waves and bouts of extreme volatility, requires dedication, passion, and courage – all the qualities of this international MMA icon.”
W1TTY, the smart finance app aimed at Gen Z and millennials, has officially launched on Apple Pay. The move enables W1TTY account holders and Apple users to make payments using their iPhones.
The founder and CEO of W1TTY, Ammar Kutait, explained the company’s reasoning for the step: “Our purpose at W1TTY is to demonstrate to young people just how simple and straightforward digital banking can be.
“Apple Pay is a natural step toward this destination. Last year, more than two in five consumers had devices that supported the app, a number that’s only set to grow.”
Yokahu, an insurtech providing hurricane and tropical cyclone protection, has been accepted onto the Amazon Web Services (AWS) ‘Fintech Accelerator’.
The AWS Fintech Accelerator focuses on supporting the growth of high-potential fintech startups. Yokahu is set to take part in the first AWS accelerator programme for the UK market, starting on Friday 9 September. The programme is designed for early-stage, pre-seed startups with at least one in-house technology lead.
Tim McCosh, CEO and founder of Yokahu, said: “We are really proud to be one of the 50 startups selected for the inaugural UK fintech accelerator under the AWS programme. Yokahu participated in the EMEA-wide AWS Startup Loft accelerator programme earlier this year, and it is very prestigious to be selected for the UK-only launch.”
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