The FinTech Five – 29th October 2021
29 October, 2021
Welcome to the FinTech Five, the part of the week where we take a closer look at the best articles, news, and features from over the past week from our FinTech Wales members.
1. Yoello introduces new Quick PickUp feature
First this week, Yoello have created a new feature where customers now have the option to order their items, pay and then get notified when their food is ready to come back and collect it.
The UK market for Click & Collect is growing fast and is predicted to be a £9.6 billion market by 2022, so Yoello wanted to make this a possibility in hospitality too.
The idea behind Yoello’s Quick PickUp service is convenience. Collection services are becoming increasingly popular across the hospitality sector and is a great way for businesses to benefit from an additional revenue stream.
Through Yoello, you can create quick pick-up points – all managed through one simple, easy to manage system. Customers simply scan a QR code to order and pay for their items, then as the venue cooks their food they are free to do whatever they like.
Being able to offer a pick up solution for customers is a great perk that allows them to beat the queues. Not only is it a convenient solution for consumers, but it also works well for venues too.
2. Women in Fintech: Creating a Rope Ladder for Others with Chetwood Financial
Next, As part of their ‘Women in Fintech’ series, The Fintech Times are championing great females in the industry who have not only made it to the top, but those who have overcome hurdles, bulldozing a path for those that follow.
Chetwood’s Distribution Lead, Sophia Sanders, joins Claudia Stankler, Colleen Wilson, Helen Hodges, Andrea Zand and Proud Limpongpan in the latest feature as they share how they paved the way for others to follow.
Here’s a preview of Sophia’s story:
“For me, it’s about how I work, interact, coach and lead every day. It’s recognising that people can excel in their career and become leaders regardless of their background, with the right coaching. It isn’t about specific initiatives, it’s understanding and identifying a person’s individual style and skillset and working with them to make the most of that…”
3. Acquis’ NEW Index for Q3 2021 is now available: UK businesses keen to make hay while the sun shines
Next this week, Acquis have shared insights on the trends that they are witnessing in equipment leasing volumes in a recent blog, which may prove a useful indicator for emerging trends in the wider leasing industry.
“Each year, lease inception volumes are impacted during Q3 by the August holiday dip, and this year is no exception in the UK; yet while the annual August effect is evident in the data, it appears shallower than in previous years, suggesting businesses are eager to make hay while the sun shines and continue on their journey to full recovery. Overall, Q3 delivered the best performance in terms of recovery to pre-pandemic volumes since the crisis began recovering to 90% of typical volumes for this time of year in the UK.
During last quarter’s index Acquis predicted average lease terms may begin to creep up as customers look to spread the cost of borrowing, and average ticket size may reduce as a result of a move to mobile working. However, neither of these trends is evident in the UK which we continue to monitor for longer term after-effects.”
Acquis’ Chief Commercial Officer, James Rudolf, comments,
“It’s a really positive sign that traditional factors that usually go towards suppressing leasing volumes are having milder impacts this year, testament I think to the determination of British businesses to continue on their recovery paths whatever the weather. It will be interesting to see whether this continues through Q4 which may take the brunt of the third wave of the pandemic, which will by no means be as severe as last year, but the impact of staff shortages, increased absence from work due to winter illnesses, and supply chain issues may all contribute to suppressing volumes, but we are optimistic that the signs we see of the determination of business in the UK to make a full recovery will outweigh any of these lingering effects.”
4. Delio roundtable: The importance of forming partnerships for angel investor networks
Next, the Delio team brought together a pan-European audience of angel investor networks to share their views on the latest topics impacting on the world of start-up investing, private markets and business in general.
One of the main topics of discussion centred around partnerships and how angel networks were adapting their strategic approach to working collaboratively as a sense of post-pandemic normality begins to emerge.
There was little doubt from the group that nearly all angel investor networks had been forced to alter their strategic approach over the last 18-24 months, with many believing that this new way of working was here to stay.
During the roundtable the audience discussed topics such as: what role partnerships play for angel networks and whether they are important; what value these partnerships add to angel networks; local and national Government support for start-ups is a ‘mixed bag’; and their predictions for How partnerships will evolve.
5. Tech Nation release article on ‘How the Spending Review and Budget affect scaleups’
Last but not least this week Tech Nation have released a useful summary of the measures and announcements from the Spending Review and the Budget relevant to Tech Nation, scaleups, and technology businesses and entrepreneurs across the whole of the UK.
Some key points covered include:
The Government will seed fund a new Centre for Finance, Innovation and Technology (CFIT). The CFIT will focus on the priorities set out in the Kalifa Review, tackling barriers to growth and accelerating the UK fintech sector. The Government has also announced that the Bank Levy Annual Allowance is rising to £100m, which will support the neobanks.
The tech sector, and its customers, need the right infrastructure to be able to access the enormous benefits of innovation. To this end, the Government is committing an additional £1.2bn for gigabit broadband. Further, the Chancellor committed to a £114m increase in the National Cyber Security Programme which will support businesses to access tech.
Skills and talent:
The Government knows that access to talent is critical for the economy broadly, and for tech scaleups specifically. To this end, the Government will introduce a new Scale-up Visa to attract highly skilled people from abroad to the UK’s “fastest growing businesses”. The new visa will allow firms with three years of 20% growth in either head count or revenue to sponsor visas. It will be open to applicants with a job offer with a salary of at least £33,000 and who pass a language proficiency test.
The Government will also launch a Global Talent Network, starting in Silicon Valley, Boston and Bangalore. This Network will work with businesses and research institutions to source the talent the tech and science sectors need. It will also provide a concierge service to support tech talent moving to the UK.
Finally, the Government is aiming to quadruple the size of Skills Bootcamps, particularly in the digital sector.
Government investment in tech and innovation:
The Government announced a £1.4bn Global Britain Investment Fund to support new investment in manufacturing industries across the UK. This will include zero emission vehicles and life sciences. At Tech Nation, we know that these are some of the sectors that will solve key challenges, and is why we’ve run programmes like Net Zero.
Until Next Week
And that’s it for the FinTech Five this week. Thank you for reading, and don’t forget to join us next week for more of the best content from across our FinTech Wales membership.