Brexit Uncertainty Spikes and Pound Plummets

Following the resignation of Brexit secretary Dominic Raab and Pensions Secretary Esther McVey, the British Pound has plummeted. There are expectations of further resignations in what is being called a “rebellion” against the Brexit deal struck by the E.U and U.K. In his resignation letter Raab said, I cannot support an indefinite backstop agreement, where the EU holds a veto over our ability to exit, the terms of the backstop amount to a hybrid of the EU Customs Union and Single Market obligations. No democratic nation has ever signed up…

Read More

Ireland’s Brexit Opportunity

Without doubt this is a challenging time for Irish businesses with exposure to the UK, with certain industries such as food, agri and tourism more exposed than others. With the many challenges surrounding Brexit, not least uncertainties in relation to our border, it is easy to forget that in dark times, there is always opportunity. Joanne Howlin, VP of Growth at TransferMate Global Payments, addressed Dublin Chamber’s Leaders Series on 15th May, focusing on the opportunities which Brexit presents for Ireland Inc, how prepared we are to leverage these opportunities,…

Read More

The Future of FinTech in a Post-Brexit World.

FinTech Integration

Are FinTech companies disrupting the way established financial institutions operate today? In an age of rapid advances in technology coupled with innovation across many industries, FinTech companies have also increased the rate of change in terms of processes, technology and the levels of customer service provided. For example, there are many “challenger banks” which have entered the UK market but they are often a secondary banking provider to customers offering alternative mobile technology like Starling or Monzo. At TransferMate we believe partnerships are the way forward, working with banks around…

Read More

GBP has taken a hit and is expected to fall even further

GBP has taken a hit and is expected to fall even further

In light of last nights unexpected poll results there is increased political uncertainty in the UK. With Brexit negotiations only around the corner GBP has taken a hit and is expected to fall even further. It comes with no surprise that sterling opens this morning on the back foot as European markets wake up to the unexpected reality that the Conservatives have lost their overall majority. The currency had already fallen by around 2% after the release of the exit poll last night. Sterling’s weaker tone is reflected in EUR/GBP…

Read More

The Pound soars to six-month high after Theresa May calls snap general election!

The Pound soars to six-month high after Theresa May calls snap general election!

In just over six weeks the UK will hold a general election. This follows Tuesday morning’s surprise statement at 10 Downing Street by Prime Minister Theresa May. For her plan to become a reality, May needed to secure a two-thirds majority of MP’s votes. Late last night MP’s voted in favor of the election and this will take place on June 8th. Sterling has rallied in the wake of this announcement trading at a six month high, with today’s markets opening above 1.2800 against the Dollar and above 1.1900 against…

Read More