UK’s Co-operative Bank to cut 400 jobs as part of cost reduction programme
Due to impact 12% of its total workforce, the proposed job cuts will take effect from 7 May.
Co-operative Bank
FinTech Futures: Top five stories of the week – 8 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Specialist lender Shawbrook reportedly mulling Co-operative Bank merger
Sky News reports Shawbrook has approached the Co-operative Bank’s owners about a potential deal.
Co-operative Bank reportedly eyeing Sainsbury’s Bank’s £650m mortgage book
The Co-operative Bank is the frontrunner amid a bidding war being run by consultancy Deloitte, Sky News reports.
Sabadell confirms offer from Co-operative Bank for TSB
The Spanish bank says that its board has rejected the approach.
FCA calls on banks to reconsider branch closures during pandemic
HSBC announced the closure of 82 branches in January.
Co-operative Bank plans 350 job cuts, 18 branch closures
The UK bank reacts to an increasingly online demand.
Co-operative Bank’s digital arm Smile goes down for days
Smile has around 100,000 customers.
COVID-19: Highlight of the week
This week, we focus one particular coronavirus news item affecting the fintech industry.
Four new UK lenders get approved to issue coronavirus business loans
These lenders are yet to set a date by which they can start accepting CBILS applications.
Co-operative Bank launches personalised loan marketplace with Freedom Finance
Successful applicants “could receive funds the same day”.
Nationwide, Investec and Co-op Bank share £80 million BCR grant pool
All three commit to modernise and improve business banking for SMEs.
Co-operative Bank embraces open banking with Fiserv’s tech
Fiserv’s cloud-based FinKit for Open Banking will help Co-op Bank comply with PSD2.
No laughing matter as Smile and Co-op online banking goes down
The customers of the UK’s Co-operative Bank and its digital arm, Smile, have been affected by an online banking glitch that is preventing access to accounts. As with all these problems the banks say they are investigating. There are no more details on specifics or when the systems will be back up. However, the mobile […]
CB Bank looks for partner to upgrade Temenos T24 core banking system
Myanmar-based Co-operative Bank (CB Bank) is planning an upgrade of its core banking system, Temenos’ T24, and is looking for a Temenos partner to assist it with the project.
Investors to the rescue for UK’s Co-op Bank?
The UK’s Co-operative Bank’s life may not be over just yet as it reveals it is in advanced discussions with existing investors over a rescue package. As reported in February, the bank was put up for sale – with the minority investor Co-op Group saying it is “supportive of the plan to find the bank […]
Mahesh Bank searches for new core banking system
India-based A.P. Mahesh Co-operative Urban Bank is looking to upgrade or replace its legacy core software technology provided by domestic vendor Infrasoft Technologies.
Unisys revamps New Zealand’s Co-operative Bank IT infrastructure
Unisys Corporation’s New Zealand subsidiary has revamped the Co-operative Bank’s IT infrastructure using Unisys ClearPath Forward systems. Unisys says ClearPath Forward provides “enhanced security” for client and business information, as well as scalability to support the addition of new services. In addition, it says ClearPath ePortal, an automated application modernisation solution, will support the bank’s […]
