Barclays, Nationwide, NatWest, and Virgin Money UK would need to make “enhancements” to contingency plans, the Bank of England said—leaving Santander as the only lender with no recommendations for improvement. What this means: The Bank of England does not want to bail banks out again and is determinedly presenting that to the public.

The pilot boasts participants such as Lloyds, NatWest, and Barclays. It’s the product of a successful proof of concept (PoC) period with users from firms like Fidelity and Ardent. Eighty-four percent of PoC participants successfully used the digital ID to improve onboarding rates, reduce AML costs, and streamline the customer experience.

In the UK, for instance, Barclays—the biggest fossil fuel financier in Europe—has been facing a months-long shareholder drive to renounce clients in the coal, gas, and oil industries. US banks are being similarly pressured: Chase, Bank of America, Wells Fargo, and Citi have all received investor resolutions on sustainability issues, which are expected to be presented at this year’s annual meetings.

Even bank-based standalone apps, like Barclays-owned Pingit, were shuttered in favor of integration. Banks’ dominance—rooted in their convenience and accessibility—could inhibit alternatives from growing adoption or reaching untouched demographics. Vocalink’s Revenue Advantage Could Prevent New Entrants.

HSBC and Barclays tied for the lead in Security and Control with identical feature sets.

First Direct topped banks in this category, at 93%; while Barclays was second (81%) and Lloyds Bank was third (80%). But Monzo missed out on becoming a Which? Recommended Provider (WRP), which is for banks that are strong in both the customer and product categories. Starling, First Direct, and Nationwide were the three banks that made it.

Undeterred, Musk obtained $25.5 billion in debt financing from a bank group including Morgan Stanley, Bank of America, Barclays, MUFG, Societe Generale, Mizuho Bank, and BNP Paribas. The remaining funds will come from equity, including $12 billion of margin loans against Musk’s Tesla stock to finance the transaction.

He has obtained $25.5 billion in debt financing from a bank group including Morgan Stanley as well as Bank of America, Barclays, MUFG, Societe Generale, Mizuho Bank, and BNP Paribas. The remaining $21 billion comes from equity financing. Notably, the filing makes no mention of any equity partners who will split the financial burden of the purchase with Musk.

The initial participants include Lloyds, HSBC, NatWest, Barclays, Nationwide, Santander UK, Danske Bank, and TSB. More on this: Shared branches will be run in five areas, adding to branches opened earlier in three areas through a pilot program. The initiative also relies on ATM provider Link, which will be tasked with assessing the cash needs of communities facing closures of branches or ATMs.

Against the backdrop of the COP26 Summit in November, for instance, The Guardian reported that Barclays, HSBC, and Standard Chartered had all extended financing to fossil fuel companies in contravention of their net-zero emissions pledges. Meanwhile, neobanks are emphasizing their conscientious environmental strategies and launching green products. Fee Revenues.

Last year, Gap moved its portfolio from Synchrony to Barclays, and Amazon is reportedly searching for an issuer to take over its portfolio from JPMorgan. Instead of renewing contracts with current partners, retailers like BJ’s may be looking to work with issuers that offer distinct capabilities that can boost spending.

Barclays Corporate Banking. Canalys. LoopMe. Mintel. New Financial. Office for National Statistics (ONS) – UK. Society of Motor Manufacturers and Traders (SMMTT). Sony Interactive Entertainment. Strategy Analytics. US International Trade Commission (USITC). YouGov.

The Belfast-based startup Responsible pulled in a $6.6 million seed funding round led by Barclays’ Sustainable Impact Capital program, per Finextra. What do they do? The recommerce movement encourages consumers to buy used items and shop more sustainably to prevent items from entering landfills.

They’re looking for work-life flexibility and better pay. But economic skittishness, dried up funding, and crypto instability point to a rocky future.

Antony Stephen, the former head of Amazon Payments Europe, was hired as CEO of Barclays Partner Finance, according to American Banker, which might signal that the bank is planning to step further into offering its own installment products. What’s the catch? Incumbents are also competing with credit cards.

In September, the firm expanded its Female Innovators Lab in partnership with Barclays into the UK and Europe. Nearly one-quarter (23%) of Anthemis’ portfolio companies are founded by women. (In the industry overall, companies with solely female founders raised just 2.2% of all venture funding this year.).

Incumbents: Big names such as Lloyds Bank, NatWest, Santander, HSBC, and Barclays dominate this space. Lloyds, Santander, and HSBC have recently sought to entice consumers to switch accounts by dangling cash incentives.

For example, in Europe it faces companies ranging from PayPal to Barclays, the Evening Standard noted. Fostering more engagement could bring Revolut closer to its goal of becoming a financial super app. For a deeper dive into how banks are competing with standalone BNPL companies, read this article from our Payments & Commerce Briefing.

But Alliance and Barclays have taken segmented approaches, with their portfolios almost exclusively focused on retail and travel and entertainment (T&E), respectively. Synchrony’s portfolio is more diversified, spreading across categories including retail, auto, fuel, and all four digital cards included in our count.

Stripe Treasury is built on partnerships with Goldman Sachs, Evolve Bank & Trust, Citibank, and Barclays, meaning Stripe will have to take its partners’ requirements into consideration and share revenues with them as well. Still, Stripe’s huge valuation likely means banks are eager to work with it, giving it more power in its banking relationships to ensure the partnerships meet its specifications.

Banks: Barclays announced in April that it’s teaming up with fintech Amount to roll out a white-label BNPL offering that merchants can provide to customers under their own brands. JPMorgan Chase jumped into BNPL last November with My Chase Plan, which the bank made available to its cardmembers.

Barclays is partnering with insurance provider Simply Business to help SMBs get coverage. The deal is the incumbent bank’s latest, following partnerships to offer SMBs services from pensions to invoice financing. Tide offers a paid invoicing product that automatically finds late payments and gives insurance to protect against nonpayment.

That high-end figure assumes that big banks—NatWest, Lloyds, Barclays, and Santander—would aim to cut their footprints to about 400 each. To be chosen as a shared branch site, potential hub locations would need to have a sufficient population. Sparsely populated places may need to rely on post offices for banking services.