AGP Executive Report
Last update: 10 hours agoPayments Infrastructure: UK’s biggest banks are starting a £50m equity fundraising push with Mastercard and Visa partners to back a new domestic retail payments network via the Bank of England-linked UK Payments Delivery Company. Identity & Fraud Tech: Shufti launched bank account verification that checks account ownership against bank records in one step, aiming to cut manual statement checks and speed up payee controls. Banking Cybersecurity: Revolut says 680 customers were affected after scammers used a legitimate government email domain to trick it into sharing sensitive identity, banking and crypto records; regulators are investigating. Labour Market: ONS data shows the UK unemployment rate held at 4.9% (to July) while vacancies fell to 702,000 and pay growth eased, adding pressure on hiring ahead of the Budget. Cost of Living & Pensions: Wage growth points to a 3.9% state pension rise next year under the triple lock, with some pensioners set for roughly £8 extra a week. Consumer Prices: Grocery inflation ticked up to 2.3% in August as shoppers made fewer trips and leaned harder on discounts, with Asda returning to growth. Business Finance: Smart Data Foundry, a not-for-profit using financial data for public benefit, has entered administration and shut down after funding shortfalls.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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