UK's Moneycorp selects Temenos SaaS to scale global business
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The UK headquartered payments and FX specialist will adopt Temenos SaaS for core banking and payments to achieve speed to market and scale efficiently as it expands products and services around the world.
By moving to Temenos SaaS, Moneycorp can focus on business growth while benefiting from advanced wallet and payments capabilities to deliver an enhanced client experience on a scalable, secure service.
Moneycorp operates globally, with offices in Europe, North America, South America, and Asia, facilitating payments and foreign exchange transactions for corporates, financial institutions and private clients. In 2023, the company handled £71bn in trading volume serving 11,000 B2B clients, 250 financial institutions, and over 23,000 individuals. With 63 regulatory permissions worldwide, the group processes over 1 million payments annually, reaching 190 countries.
With multi-geographic support, Moneycorp can seamlessly roll out new capabilities worldwide, leveraging a build-once, deploy anywhere approach across different regulatory jurisdictions. By utilizing Temenos Model Bank with pre-configured banking functionality and country-specific localization, Moneycorp will achieve faster time to value while reducing costs and delivery risk. Temenos' open, API-based architecture will simplify integration with Moneycorp's ecosystem, further accelerating innovation and enhancing operational agility.
Srini Kasturi, Group Chief Technology Officer, Moneycorp, said: 'Best-in-class technology is key to delivering the seamless client experience and personalized service that Moneycorp is known for, so we're delighted to partner with Temenos, an established global leader in banking technology. Temenos' multi-country support and localization will enable us to launch new solutions quickly around the world, while running on SaaS will help us to scale efficiently while maintaining our focus on delivering our award-winning, easy to use service to customers worldwide.'
Mark Yamin-Ali, Managing Director, Europe, Temenos, commented: "We're proud to partner with Moneycorp, a U.K. success story and world leading cross-border payments provider. This strategic transformation which will see Temenos underpin Moneycorp's core banking and payments ecosystem across its global operation. Moneycorp sought a SaaS solution with deep functionality and the latest technology—capabilities only Temenos could deliver—along with our expertise in Western Europe and the U.S. We look forward to working with Moneycorp to drive the next phase of their impressive growth story.'
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Telegraph
2 days ago
- Telegraph
No-fault evictions surge under Labour
The number of 'no-fault' evictions has surged under Labour as landlords rush to free up properties ahead of rent reforms that will ban the practice. So-called Section 21 evictions enforced by bailiffs rose by 8pc in the 12 months since Sir Keir Starmer was handed the keys to Downing Street, new figures show. Section 21 notices allow landlords to force renters out during their tenancy without needing a specified reason. It comes after Rushanara Ali, the Government's homelessness minister, was forced to resign after it was revealed she evicted tenants at her London property before increasing the rent. There were 11,402 repossessions by county court bailiffs following a Section 21 notice in the year to June, up from 10,576 from the previous 12 months, according to Ministry of Justice figures. The notices are served on tenants by landlords to begin the process of regaining possession of a property despite their shorthold tenancy not having expired. Under Labour's Renters' Rights Bill, landlords will need to apply for a hearing before they can evict a tenant. During the same period, there were 30,729 uses of fast-track evictions. These are available to landlords when a tenant has not left the property by a specified date. This was a slight drop from 32,103 in the preceding 12 months. A spokesman for the National Residential Landlord Association said: 'It is concerning that the number of bailiff repossessions relating to no-fault proceedings is increasing at a time when claims, orders warrants, and overall repossessions are decreasing year on year according to the Ministry of Justice's latest statistics. 'This illustrates that, even after receiving a court order to leave a property, tenants are opting to wait until they are removed by a bailiff. This is not in the interest of households or landlords, all of whom will have to endure additional stress and costs associated with evictions.' Last week Ms Ali quit her role as homelessness minister amid claims she gave tenants at a property she owned in east London four months' notice to leave before relisting the property with a £700 rent increase within weeks. Ms Ali's house was put up for sale while the tenants were living there, and it was only relisted as a rental because it had not sold, according to the i newspaper. Her actions went against Labour's flagship Renters' Rights Bill, which is in the final stages of becoming law, and introduces stronger protections for tenants. Once the law comes in, landlords who evict their tenants in order to sell their property will be banned from relisting it as a rental for six months. Instead, buy-to-let owners will only be able to evict for a very limited number of reasons, using a Section 8 notice, which requires a court hearing. The bill will also introduce a 12-month protected period from eviction at the start of a tenancy. Mairi MacRae, from homelessness charity Shelter, said: 'It is unconscionable that more than a year after the Government came to power, thousands of renters continue to be marched out of their homes by bailiffs because of an unfair policy that the Government said would be scrapped immediately.' A government spokesman said: 'No one should live in fear of a Section 21 eviction and these new figures show exactly why we will abolish them through our Renters' Rights Bill, which is a manifesto commitment and legislative priority for this Government. 'We're determined to level the playing field by providing tenants with greater security, rights and protections in their homes and our landmark reforms will be implemented swiftly after the Bill becomes law.'
Metro
09-08-2025
- Metro
'The system is at a breaking point' Inside London's housing crisis
London's chronic housing crisis remains a hot topic after the resignation of the homelessness minister, Rushanara Ali. The MP resigned on Thursday after being accused of being a 'hypocrite' for raising the rent at her property by £700. Ali was accused of getting rid of four tenants in her townhouse in Bow, east London, before relisting the property for more money shortly after. Her office insisted the house was relisted for rent only after no buyer was found, and that the tenants were not evicted, but were given the option to stay while the property was up on the market. The previous tenants paid £3,300 for the home, and the rent was upped to £4,000 when it was relisted, the i Paper reported. The rent rise highlights the endemic issues plaguing people in London – unaffordable rents, lack of houses, homelessness, and damp and mould. Here is a roundup of what is going on with housing in London. Millions of people are renting from private landlords in the capital – around 2.7 million. And it is not a cheap affair as 37.9% of Londoners' income goes towards rent, figures from HomeLet show. It can be difficult to even find a rented home as properties are being snatched within minutes of adverts going up, with homes often going to those able to pay several months' worth of rent upfront which can decimate savings and lead to debt. People face a toxic cocktail of rising rents and fewer available homes, causing people to move out of London in droves. Only around 5% of privately rented homes in London are considered affordable for people in receipt of a housing benefit, according to Trust for London. Leaving London has become a dream for many young people trapped in expensive city living, but the exact number of people escaping is difficult to nail down. Outmigration from London reached 5.7% last year, according to analysis from real estate company Hamptons, which is still lower than the 8.2% peak in 2022, when almost 250,000 people are estimated to have left the capital. While the coronavirus pandemic saw a momentary fall in rent prices, the average rent in the capital has crept back up. Across the UK, nearly half of renters – around 1.7 million – are just one paycheque away from being homeless. Housing experts have warned that the crisis in London is spiralling out of control. The cost-of-living crisis has meant that many, especially those on low incomes or working in precarious jobs, have not been able to make ends meet, the charity Crisis has said. Latest figures from the Combined Homelessness and Information Network (CHAIN) reveal that 4,392 people slept rough in London between April and June this year – a 4% increase on the previous year. Rick Henderson, the chief executive of Homeless Link charity, which works directly with people experiencing homelessness, told Metro: 'It is appalling that so many lives are being destroyed by being pushed into rough sleeping, in London and across the country. This data is yet more proof that too many people are being trapped on the streets and that the current support system is at breaking point.' Thousands more people are also hidden homeless – instead of sleeping on the streets, they are living in temporary accommodation, hostels, sofa surfing or in overcrowded conditions, often out of sight. The Rushanara Ali story sparked thousands of reactions from Metro readers, with many calling her to be sacked or to resign, which Ali did so on Thursday. Liba Kaucky said it was 'quite right too' of her to resign, saying that the rent increase was 'an outrageous thing to do.' Christine Browne commented on the increased rent: 'I live in Bow, it's not worth that rent I can tell you that for nothing.' Jan Oons said: 'Maybe politicians should not be receiving any income other than their parliamentary wage to avoid any conflict of interests?' Stephen Locking said: 'Broken housing industry.' Stephen Wilde commented: 'We've the same problem Ireland, sitting politicians shouldn't be allowed be landlords. Conflict of interest in making big decisions will always be an issue.' Mike Dixon defended the MP, saying she 'wanted to sell the property with vacant possession: fair enough.' 'After not selling she has put it back out for rental. Perhaps she did not increase the rent of previous tenants and now was charging market rate.' Mark Coleman said: 'Nothing she did was illegal.' Rob Kavanagh said: 'She gave them four months notice and there's been no overreach of ministerial powers, nothing to see here. Leave the woman alone.' Sara Jane said: 'Well, reading the article she didn't make them homeless, they rented for a fixed term and were offered to stay longer which they declined. Whilst I don't think people like her are in the right job sounds like she didn't do anything wrong. Should private landlords exist, well, if they didn't and you can't afford a mortgage and can't get a council house, where else are you going to live other than the streets? It's a difficult one. The real issues are holiday homes not houses that are rented out.' Susan Marmon said: 'It's also that young renters or first time renters need guarantors that earn over £35,000 per year AND have at least 2 months rent available in cash! In some places it's even more! No wonder there's such a housing crisis.' London Councils, the group representing boroughs, estimated that over 183,000 Londoners, including 90,000 children, live in temporary hostels arranged by their council. The group warned that London councils are forecast to spend more than £900 million on homelessness services in 2024/25 – a £330 million overspend. London has as many a 12,500 hidden homeless people each night, the Greater London Authority estimates. Hidden homelessness is thought to disproportionately affect women and young people aged 16 to 25. Young LGBTQ+ people are at particular risk, with almost 136,000 people aged 16-24 homeless in 2022/23. Nearly a quarter of them are LGBTQ+, according to akt. Mayor of London Sadiq Khan has vowed to end rough sleeping in the capital by 2030. With £17 million from the government, he plans to refurbish 500 empty homes and launch a homelessness hubs to offer support to new rough sleepers. Meanwhile, the government has said it is taking urgent action to end homelessness after inheriting 'a serious housing crisis' from its predecessor. It is pumping £1 billion for councils' homelessness services across the country, with London boroughs given a funding uplift of £78 million. While Ali's spokesperson has insisted that the tenants were not evicted but were told their tenancy would not continue beyond the fixed-term, this is generally called a 'no fault eviction.' Mairi MacRae, the director of campaigns and policy at Shelter, said: 'Labour made a cast-iron manifesto commitment to 'immediately' ban no-fault evictions when they came to power. It beggars belief that after months of dither and delay, the government's own Homelessness Minister has profited from the underhand tactics the Renters' Rights Bill is meant to outlaw. 'This story serves as a damning reminder that the cards are fundamentally stacked against renters. Unscrupulous landlords cannot be allowed to continue the practice of 'fire and rehire' evictions, where they slap renters with a Section 21 only to hike up the rent a few months later and relet the property at a higher price. 'The government has the power to prevent this, and renters cannot wait any longer for meaningful change. It must make good on its manifesto commitment by passing the Renters' Rights Bill as soon as possible and name an implementation date so renters have certainty on when no-fault evictions will finally be relegated to the history books.' It means landlords do not need to prove that the tenants have done anything wrong to end a lease at its fixed-term end date by giving two months' notice to the occupants. Officially, it is known as a Section 21 notice. The Renters' Rights Bill, which will become law next year, is set to reform this by abolishing no-fault evictions. However, landlords' representatives have warned that the plans to scrap the Section 21 rule has caused many landlords to race to get possession of properties before the abolition, which could reduce the number of homes available to rent. While tenants in London might have a roof over their heads, it doesn't guarantee quality. Around 1.1 million private rented homes in the UK didn't meet the decent homes standard in 2022/23, according to the official English Housing Survey. This includes hazards like damp, mould and excessive cold. London housing activist Kwajo Tweneboa has been campaigning over standard homes plaguing tenants living in social housing after his own experience of living in 'slum conditions' with his dad who had cancer. Kwajo said he started posting on social media about the mould and damp-riddled conditions because 'I was angry to find out people were dying in their homes – from asthma, skin conditions and other illnesses related to damp, mould and disrepair,' he told the Guardian. He told New Statesman: 'It's hard to even describe some of the conditions I've seen people living in and subjected to. I've been in homes where I've had to cover my shoes with Sainsbury's bags before I went in because they were absolutely flooded with raw sewage… [I've seen] cockroaches, mice, ceilings collapsing, leaks… the list could go on. It's endless.' More and more private landlords have sold up and exited the sector, with analysis by Trust for London showing 45,000 rental homes were lost between 2021 and 2023. Ben Beadle, the chief executive of the National Residential Landlords Association, said: 'Private renters across London are facing the brunt of the housing crisis. The shortage of homes to rent is a one-way street toward higher rents and even less choice for tenants. 'London needs more of all types of housing, and that has to include homes for private rent. It's high time for policies that support investment in the homes renters desperately need.' There is also a lack of new homes, which the government has pledged to fix with 1.5 million new homes built in England by the next general election. London alone needs around 88,000 new homes over the next decade to meet demand, according to the City Hall. The Mayor said on Tuesday that work has started to build over 8,000 new homes, thanks to his land fund, five years ahead of the schedule. Deputy Prime Minister and Housing Secretary, Angela Rayner, said: 'We're facing a housing crisis which has stopped our young people from achieving the dream of homeownership, especially in London where there is a real demand to build the affordable homes we need. More Trending 'That's why we welcome the Mayor of London pushing ahead to build these homes, and we will continue to work hand-in-hand with him to deliver on our stretching target of 1.5 million homes through our Plan for Change.' The London skyline is changing rapidly with brand-new high-rise developments being built left, right and centre. However, many of the apartments will be out of reach for many people despite the London Plan mandating that 35% of all new housing developments have to be affordable. The affordability rule has been criticised for not being genuinely affordable. Shelter said that in 42% of local authorities in England, the 'so-called affordable rent is in fact unaffordable.' Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. MORE: What I Own: We paid £125,000 for our London houseboat — we charge our lodger £1,200 a month MORE: Banksy London Map shows where to see street artist's best graffiti MORE: The Minister for Homelessness' gaffe has proved MPs should never be landlords
Metro
08-08-2025
- Metro
The Minister for Homelessness' gaffe has proved MPs should never be landlords
There we have it, folks. The homelessness minister has resigned – not for failing to fix the housing crisis, but for becoming the poster girl of everything wrong with it. Rushanara Ali quit last night after it was reported that she evicted tenants from her east London townhouse and then, within weeks, re-listed it for rent for an extra £700 a month. Yes, the same woman who was in charge of fighting homelessness was allegedly evicting tenants and hiking rents like a dodgy letting agent. You can't make this up. Her letter of resignation to the Prime Minister claimed that her continued presence in the role would be a 'distraction' to the work of government. No kidding! That's the coward's way out. But it's not only about Ali. This fiasco exposes a far greater problem – the number of MPs lining their own pockets as landlords while claiming to care about renters. Let's be real: This is a conflict of interest so obvious it's almost hilarious. Almost. You can access completely fee-free mortgage advice with London & Country (L&C) Mortgages, a partner of Metro. Customers benefit from: – Award winning service from the UK's leading mortgage broker – Expert advisors on hand 7 days a week – Access to 1000s of mortgage deals from across the market Unlike many mortgage brokers, L&C won't charge you a fee for their advice. Find out how much you could borrow online Mortgage service provided by London & Country Mortgages (L&C), which is authorised and regulated by the Financial Conduct Authority (registered number: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage. Rushanara Ali is just one of around 85 MPs who define themselves as landlords. As of August 2024, they have around 184 rental properties combined. And shockingly – to me, anyway – three of the top five landlords in the Commons are current Labour MPs (again, as of last year). I don't understand how you can be a Labour MP – and also a landlord. If I could, I'd ask this question of Jas Athwal, Labour MP for Ilford South, who – as of last year, at least – co-owns a jaw-dropping 18 rental properties. You'd think maybe one or two – a flat inherited from Grandma, perhaps. But 18? At that point, it's less 'landlord,' more 'property empire'. This conflict of interest matters more than ever. The Renters Rights' Bill is in its final stages in Parliament and aims to introduce restrictions on landlords when it comes to unjustified evictions, among others. This Bill isn't just some formality. It matters – because it could make a real difference to our lives. I know someone who has spent the last month living in a flat where black mould creeps up the walls and the windows don't shut all the way – all while paying over £1,500 a month. Whenever he complains, there's always that same underlying fear: If I push too hard, I could be evicted. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video That's what this bill aims to fix – and yet so many of the MPs debating this Bill are landlords themselves. How can they possibly debate it objectively? One reform introduced by the Renters' Rights Bill will ban landlords from ending a tenancy in order to sell and then re-listing that same property for rent within six months. In other words, good old-fashioned landlord tricks; not to mention the very action Ali's been accused of. Ali's letter to the prime minister claims she 'followed all relevant legal requirements'. But merely because it is legally permissible doesn't always make it right or fair. Four tenants were allegedly given four months' notice the lease would not be renewed and claimed they were informed by letting agencies that they'd be charged nearly £2,400 for the house to be repainted and professionally cleaned; despite the fact that landlords are not allowed to charge for professional cleaning. All before they then reported seeing the same flat re-emerge on the rental market for more money. One of these tenants, Laura Jackson, summed it up herself as 'an absolute joke'. In the end, though, it's far from humorous. It's a kick in the teeth for millions of tenants driven out of their homes. What if judges ruled over companies they had stakes in? Or civil servants owned private businesses connected to their departmental work? That would be scandalous, wouldn't it? But when MPs are landlords, somehow it's okay. This isn't about envy of wealth. If an MP wants to purchase property or stocks when they retire, go for it. However, sitting MPs, who are instrumental in determining rental policy shouldn't have a financial stake in the outcome. Because currently, it reeks. Keir Starmer has vowed his government will 'make sure everyone can grow up in the secure housing they deserve'. Good. Then demonstrate it. Ali's resignation is a start but this can't end with a single MP quietly stepping aside. Labour – and all parties, frankly – need to go further. Ban sitting MPs from being landlords. Full stop. No more resignations. No more cringeworthy 'Well, technically she didn't actually break the law' non-apologies. Just a simple, clear rule. If you help make the laws, you shouldn't gain from the problem you're meant to sort. More Trending Ali's resignation gives Starmer a chance to do the right thing. If Labour is to maintain renters' confidence – and there are millions of us – then it needs to act now. Because if your landlord also helps create the laws, then the system was never built to serve you. It was built to protect them. Right now, Parliament is our problem, not our protection. And that needs to change. Do you have a story you'd like to share? Get in touch by emailing Share your views in the comments below. MORE: I can predict exactly how the world will respond to Israel's Gaza takeover MORE: This common bedroom phrase instantly turns me off MORE: I love Mrs Brown's Boys – I'll always defend it against TV snobs
