The UK government will begin consultations early this year on legislation that would allow smartphones to be used for remote cheque deposits, according to reports.
The Treasury has proposed enabling UK banks to process cheque images, which would do away with a requirement that banks must physically receive a paper cheque. Remote cheque depositing should cut the typical processing time from six to two days, the Treasury said.
reported that Barclays plans to begin pilot trials of remote cheque deposit technology early this year. “When you can download a book or a film in seconds, we believe you should be able to deposit a cheque in the same way,” said Steven Roberts, managing director at Barclays.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.