Open Banking - what is it, and why do I care?

Posted on the 26th April 2018 by Hamish Anderson in Founders' blog, Business, Finance

Open Banking

By now you’ve probably heard about open banking. You may have even received a cryptic letter from your bank, asking for permission to do all sorts of things, and are wondering what all the fuss is about.

What is Open Banking?

As Money Mover users and supporters, you’ll probably agree with me that banking has been dominated by a small number of large players for too long.

Open banking seeks to change this by making it easier for to work with other banks and financial institutions, whether it’s to switch accounts or access new products and services.

The point of all this is to encourage innovation and improve competition in the financial sector.

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The Future of Financial Data

Posted on the 27th February 2018 by Hamish Anderson in Founders' blog, Founder Insights

Future of Financial Data PanelPhoto L-R: Neil Garner (Thyngs), Ray Anderson (Bango), Emily Mackay (TAB), Hamish Anderson (Money Mover), Jeremy Sosabowski (AlgoDynamix)

On Thursday 22nd February, I was invited by law firm Mills & Reeve and international technology community Cambridge Wireless to participate in a panel discussion. The panel, which was formed of CEOs from Cambridge-based financial technology (Fintech) firms was to debate the Future of Financial Data; specifically how recent regulatory changes would impact the way financial firms hold and use data.

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GBP since the rates rise - why raising interest rates doesn't always boost a currency

Posted on the 26th November 2017 by Hamish Anderson in Founders' blog, Finance

Mark Carney BOE

At midday on the 2nd of November the Bank of England raised its base lending rate for the first time in more than 10 years. The UK has been languishing in an unprecedented cycle of consecutive interest rate reductions, which ultimately had to reverse. Even so, the vote by the Monetary Policy Committee - the body which decides on how the UK’s interest rates should move - was divided, with 7 votes recommending the rise and two urging that things should remain the same. So what’s happened to exchange rates since the rise, and how did the comments of the Governor of the Bank of England -Mark Carney - influence the currency markets?

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Big in Japan - Money Mover attends Tokyo's Fintech Summit

Posted on the 31st October 2017 by Hamish Anderson in Founders' blog, Money Mover News, Founder Insights

FinSum Tokyo 2017 exhibitor space

Establishing relationships in new regions is challenging, and best achieved with help and guidance from local experts. Hamish Anderson, Money Mover's CEO, was therefore delighted to be asked to participate in a recent Trade Mission to Japan which was being run alongside Fin/Sum - Tokyo’s principal financial technology summit.

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Why cryptocurrencies don’t add up for Money Mover and its customers

Posted on the 3rd October 2017 by Hamish Anderson in Founders' blog, Business, Finance, Founder Insights

Bitcoin image for cryptocurrency blog

I’ve just returned from a UK FinTech Trade Mission to Japan which coincided with the Tokyo FinTech Summit (Fin/Sum Tokyo).

A topic which came up frequently in formal presentations, panel sessions and discussions with delegates, was cryptocurrencies. No doubt this was because of the news that Japanese banks are setting up their own digital currency - J-Coin. Indeed, one Japanese FSA employee I chatted with was just about to head off to California on a mission to absorb all things cryptocurrency.

I had the chance to consider my position and thoughts on cryptocurrencies, particularly with regards to our business at Money Mover, and I thought I’d share these with you.

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What makes Money Mover different?

Posted on the 21st August 2017 in SME blog, Business, Founders' blog, Founder Insights

Alex & Andrew Office

There are a lot of international payments services out there and it’s important to us that people understand why Money Mover couldn’t be more different from old school foreign exchange businesses with their boiler room sales people and low-tech service.

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The Dangers for Sterling of Rolling the Dice

Posted on the 9th June 2017 by Hamish Anderson in SME blog, Business, Founders' blog, Founder Insights

GBP, USD and EUR foreign exchange rate

As the exit polls predicted that the UK was on course for a hung Parliament, the pound dropped almost 2% against the US Dollar and the Euro in a matter of seconds.

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Brexit - the fall out begins

Posted on the 19th August 2016 by Hamish Anderson in Founders' blog

The exchange rate of sterling dropped 10 percent after the Brexit voteThe formal Brexit process hasn’t even started, but we’re already feeling the impact of the referendum result.  Sterling has depreciated by more than 10% against the major currencies and hit its lowest level against the USD for almost 30 years.

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If it’s not transparent, it’s not fintech!

Posted on the 31st May 2016 by Hamish Anderson in Founders' blog

Money Mover offers totally transparent international payments

Whenever I’m asked to talk about Money Mover’s international payments platform, cutting costs is normally the last thing that I mention. Why? Because telling a small business that you’re going to charge them less is easy, but without knowledge and information it’s really hard for the SME to know whether they’re actually getting a better deal or not.

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Innovation and competition in financial technology - Fintech: promoting innovation

Posted on the 29th March 2016 by Hamish Anderson in Founders' blog

Money Mover is making headway in the hostile foreign exchange sector

As part of a conference on “The Impact of Competition Powers on Financial Services” I took part in a panel discussion. While the conference’s theme was predominantly legal (it was hosted by Norton Rose Fulbright and attended mostly by lawyers) the theme of my panel was  ‘Fintech: promoting innovation’.

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Forecourts and Foreign Exchange: Why businesses want FX providers that are less like petrol stations and more like discount supermarkets

Posted on the 18th September 2015 by Hamish Anderson in Founders' blog

Forecourts and Foreign Exchange: Why businesses want FX providers that are less like petrol stations and more like discount supermarkets

We all like to get the best possible price when we make a purchase. If we feel that we’re being overcharged or ripped off then, as consumers, we tend to vote with our feet.

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How our £1m funding will help us better serve underserved SMEs

Posted on the 22nd July 2015 by Hamish Anderson in Founders' blog

International business payments

Today we announced that we’ve secured £1m in investment from a group of financiers, entrepreneurs and technologists. The consortium includes former Towergate CEO and stakeholder in Funding Circle, Andy Homer, and Classic FM founder Sir Peter Michael.

Backing from such experienced private and institutional investors is a testament to the potential of Money Mover and signals the start of a new era in the company’s growth. The investment is critical if we’re truly to address the challenges that face small to medium sized businesses (SMEs) in the UK and beyond.

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The Small Business Act and how Europe is focussing on SMEs

Posted on the 16th September 2014 by Rosemary Fallows in Founders' blog

The Small Business Act for Europe (SBA) was adopted back in June 2008, although many people remain unaware of it. There is currently a public consultation to gather feedback and ideas to see how the act can be revised and improved.

The European Commission has enacted this legislation to recognise the crucial role of SMEs in the European economy. The SBA applies to all companies which meet the SME criteria.

The Small Business Act and how Europe is focussing on SMEs

European SME Week 2013 launch, Vilnius, Lithuania

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Why Cambridge?

Posted on the 29th April 2014 by Hamish Anderson in Founders' blog

Why Cambridge?- A Money Mover blog

I'm often asked why we set up Money Mover in Cambridge.

“Surely a financial services business should be in London?” people ask, “or in a country with lower taxes, or where the regulations aren’t so tough?”

There’s a basis of fact in all the above, but we considered all these things pretty carefully in the very earliest days of the company, and we tried to make choices which were true to the vision that we had for Money Mover.

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