News
Banks accept smartphone photos of cheques

Friday 10th January, 2014

The Treasury has announced that UK banks are to accept photos of cheques sent by smartphones - in a move which should reduce the processing time from six to two days. The plan is to allow consumers to send photos of cheques or go to banks with photographs of cheques in a similar way that airline and travel tickets are currently used.
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SEPA deadline extended for an extra six months

Thursday 9th January, 2014

The European Commission has proposed an extra transition period of six months during which payments outside the Single Euro Payments Area (SEPA) format will still be accepted. The extended deadline came after lower migration rates than anticipated and will run until 1st August this year. The Commission stated that the proposal does not change the formal deadline for migration of 1 February 2014.
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OB10/Tungsten issue interim report. Announce $200m deal

Wednesday 8th January, 2014

Despite only a couple of weeks of trading in the period for Tungsten Group (the organisation which was set up on 18th October last year, and which bought OB10), stockmarket regulations have seen them issue their interim "six months" report, released today. In it, the organisation announced that it has established a Heads of Terms Agreement with Blackstone Tactical Opportunities (BTO) worth $200m.
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SAP-Ariba bosses quit - replaced by top cloud expert

Tuesday 7th January, 2014

Just one year after SAP's aquisition of Ariba for more than $4billion two of the top bosses, including former Ariba CEO Bob Calderoni, have decided to leave, according to a report by Spend Matters. SAP comments that; "After successfully leading the transition of Ariba into SAP, Bob Calderoni has taken the decision to leave SAP."
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Crowdfunding, invoice trading & other alternative finance on the rise

Monday 6th January, 2014

Market data by Nesta, University of Cambridge and University of California, Berkeley, has found £939m has been raised through alternative finance intermediaries – including crowdfunding, peer-to-peer lending and invoice trading in 2013.
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