Richard Prosser

Monzo Bank has become the latest bank to join the MTD goldrush as the digital bank announces that sole traders and landlords will be able to file taxes directly to HMRC from their business bank account without the need for separate software. The filing tool, provided via a partnership with Sage Embedded services, supports the quarterly MTD submissions and end-of-year returns, starting from the 2026/2027 tax year. Monzo joins the likes of NatWest Group, Starling and Tide in the race to attract business bank accounts -- a recommended step in the MTD process. Full story in the comments below 👇

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🚀 Accelerating the ambitions of UK smaller businesses Our Growth Guarantee Scheme has reached £2.5bn in total lending, enabling smaller businesses across the UK to invest, expand and thrive. 📍 69% of this lending has reached businesses outside London and the South East 📍 £270m+ has supported businesses in the North West alone 📍 Over £633m has been provided to companies under five years old Chancellor of the Exchequer Rt Hon Rachel Reeves said: "The Growth Guarantee Scheme has made a huge impact on our regional economies, helping smaller businesses across the UK to invest and grow, creating jobs and putting more money in people’s pockets." Launched in July 2024, Growth Guarantee Scheme can be accessed via accredited lenders and provides crucial financing through term loans, overdrafts, asset and invoice finance, supporting up to £2m per facility. 👉 Click through for the key highlights of this milestone. 

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Challenger bank expands after £5 billion boost “We’ve built a resilient, diversified balance sheet that sets us up for sustainable profitability – and we’re still building momentum.” Chetwood Bank has unveiled expansion plans after breaking a £5 billion balance sheet benchmark. The digital lender is opening a Manchester office which will build on existing bases in London, Wrexham and Fleet, leaving it primed to continue its momentum across the UK banking sector. Read more here: https://lnkd.in/eZpHStrf Paul Noble

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Cynergy Bank has reached a significant lending milestone, having grown to more than £4bn in loans supporting SMEs, property entrepreneurs and property owners across the UK. Cynergy Bank reached the breakthrough figure in August 2025. Known as the ‘Human Digital’ bank, it blends the latest digital technology with a face-to-face approach for a high tech, high touch service for SMEs. The lending figure includes support offered by its Asset Based Lending arm, Cynergy Business Finance. The Bank has ambitious goals to continue supporting the underserved market of SMEs. Since rebranding and launching in 2018, Cynergy Bank has supported hundreds of SMEs and large enterprises, offering tailored financial solutions to support expansion and sustainability across a wide range of sectors, from property, healthcare and logistics to tech, retail, and green energy. Most recently, Cynergy Bank teamed up with UK-based real estate asset management and advisory company, Delancey, to launch a real estate lending partnership that will target up to £1.5 billion of UK property debt over the next three years. https://lnkd.in/ergaMFNh

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Open banking was covered widely at this week's Labour Party Conference, with widespread recognition of its critical role in powering UK economic growth and innovation. A standout moment was our Policy Director, Luke Ryder joining a fintech panel alongside Luke Charters MP, TrueLayer’s Megan Coulson, Financial Conduct Authority's Sacha Sadan, and Startup Coalition’s Charlie Mercer. The discussion explored: ✅ The journey OBL is supporting with industry and regulators to secure a long-term framework for open banking; ✅ How we can accelerate progress towards Open Finance to unlock benefits for consumers, businesses and the wider economy; ✅ The growing collaboration across the ecosystem to make this vision a reality. We were also pleased to participate in Innovate Finance and EY’s roundtable on Tech’s Plan for Change, where open banking was highlighted as a prime example of UK-led innovation. Attendees welcomed the move towards a sustainable, long-term model that supports the full ecosystem and enables continued growth. OBL remains committed to working with industry, policymakers, regulators, and consumer and business representatives to support this flourishing UK sector and ensure open banking continues to play a pivotal role in driving inclusive economic growth. #OpenBanking #OpenFinance #Innovation #FinTech #FutureOfFinance #Innovation #DigitalInnovation #TechInnovation The Labour Party

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📢 Allica Bank CEO Richard Davies was quoted in The Times yesterday about how a few smart regulatory tweaks could unlock £500 million more in SME lending this year 🚀   He covered:   🏦 Why high street banks are pulling back from SME lending 💰 How UK businesses think about debt, and how to build confidence ⏩ Why speed of decision-making matters more than ever   We’re proud to back the UK’s established SMEs that make up the beating heart of the UK economy – and too often get overlooked.   With over £3 billion already lent, we’re transforming relationship banking with great rates, smart people and powerful technology. And with the right support from regulators, we could do even more.   Let’s make it easier for established SMEs to get the money they need to thrive 💼   👉 Read the full article: https://lnkd.in/e8bbt8S2   #SMEs #businessbanking #fintech #regulation #growth

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Big news 🥁🥁 Sending money just got even better 🚀 We’re excited to announce our partnership with Clear Junction to power faster, easier cross-border payments for enterprise businesses, now available through Swap, our currency exchange platform built in partnership with Wema Bank Plc. and Kadavra BDC. What does this mean for your business? ✅ Faster local and international transfers ✅ More competitive exchange rates ✅ Simplified USD, EUR, and GBP collections ✅ Seamless payments from Africa to the UK and Europe For enterprises that need speed, scale, and reliability, this partnership is transforming how money moves so you get better value, every single time. Visit www.flutterwave.com to get started today!

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