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Global Banking & Finance Review
Nationwide, the world’s largest building society, today announces it has invested in a leading fintech as it aims to disrupt the business banking market by delivering “game-changing” customer service on both the high street and online
  • Partnership with 10x Future Technologies enables Society to build innovative digital platform
  • Digital offering will be complemented by Society’s unwavering commitment to branches
  • Service will evolve to respond to current and future needs of UK’s 5.7 million small businesses

 Nationwide, the world’s largest building society, today announces it has invested in a leading fintech as it aims to disrupt the business banking market by delivering “game-changing” customer service on both the high street and online.

Last year the Society announced that it would launch a business current account in support of the UK’s 5.7 million small businesses, from tradespeople and sole traders to owner-managed businesses.

The £15 million investment in 10x Future Technologies – part of a Series B funding round – gives Nationwide a minority shareholding aimed at creating a true partnership approach to designing and building an innovative digital platform for the new current account. 10x is working with the Society to deliver the digital platform, which will be launched towards the end of the year.

As a mutual organisation driven by member needs and not profit, Nationwide will focus on smaller businesses, many of which have been underserved by the five big banks dominating 85 per cent of the market1.

The Society, which has 15 million members, up to a million of whom are business owners, is bidding for £50 million funding from the Capability and Innovation Fund1 so it can reach as many small businesses as possible with a fully-fledged proposition.

While acknowledging the growth of digital, Nationwide has maintained steady use of its branches and believes they still play a critical…

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Global Banking & Finance Review
Paula Premrou, CEO of Portfolio Personal Inversiones

Global Banking & Finance Awards® 2018 Winner – PPI, Portfolio Personal Inversiones – Exclusive interview on the investment opportunities in Latin America

Paula Premrou, CEO of Portfolio Personal Inversiones talks to Global Banking & Finance Review about the current investment landscape in Latin America and the year ahead.

In your opinion, what are the challenges and opportunities investors should be aware of in 2019?

2019 will be a challenging year and full of opportunities for Latin American’s markets. The first couple of weeks of the year, expectation for a Fed’s dovish monetary policy gave emerging market’s assets a strong impulse, trend that should continue throughout 2019 if global inflation keeps a low path and developed economies slower growth pursue. This would also help to revert the “fly-to-quality” outflow suffered by emerging markets during last year. If we look into Latin America, two of the main economies, Brazil and Mexico, has just begun new political cycles with Bolsonaro and López Obrador to taking office of their respective governments with electoral promises to carry out, especially in the first case, critical structural reforms. In the particular case of Argentina, this year will be highlighted by a busy political agenda, as presidential elections will be held on October 27th, within a negative economic environment and after a downturn in 2018. Market expectations are…

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