The shopping phenomenon that is Black Friday is nearly upon us and snapping at its heels is the holiday season. Many consumers will look to spread the cost of their seasonal spending splurge. They’ll hope to secure a credit or lending decision simply and quickly. For merchants and lenders, satisfying this demand is all about fast and flexible risk decisioning and agile processes.
To stay current in a competitive marketplace financial service providers need flexible workflow solutions that can be updated simply and that help the organisation improve its customer processes. As market and customer needs change they want something they can modify to remain relevant and competitive.
World Paper free Day (6th November) encourages businesses to reduce the amount of paper they generate. It’s difficult to imagine that in this day and age businesses still rely on hard copy. Yet that is still the case in many banking and financial institutions when it comes to processing credit and loan applications. Unfortunately, a reliance on paper creates silos in the workstream and is an obstacle to fast and efficient information sharing.
The use of mobile payments by consumers has been rising steadily this decade, with the market size expected to reach $721.4 billion in mobile payment volume by 2017. With this rapid adoption it is necessary to make the experience easier, simpler and safer for consumers to shop online.
Corporation tax and the new National Living Wage were two of the main focus points for UK businesses in the July Budget which the Chancellor, George Osborne announced yesterday. However, despite the rate of corporation tax falling to 19pc in 2017 and 18pc in 2020, it will have little impact on SMEs in the UK as this will only generate a marginal gain. What will impact SMEs is the National Living Wage. As of April 2016, the Government is introducing a new minimum wage of £7.20, which will rise to £9 by 2020.