- The totals represent the number of new firms opening accounts with
Bank of Scotland, Clydesdale Bank, TSB Bank and The Royal Bank of Scotland.
- The number of start ups fell by 5.3 per cent, 169, from 3,159 in the second quarter on this year.
- The rise in start ups compared with last year was driven by strong growth in the number of new construction firms, to 378 from 287.
- This suggests people are being encouraged to start firms by the strength of the recovery in the construction sector and the housing market from the downturn that followed the financial crisis of 2008.
- Sole trader start up numbers have increased during periods when people have found it harder to get jobs.
R3 assembles expert technology team
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Financial innovation firm R3 announced the team tasked with managing the design and delivery of advanced distributed ledger technologies to global financial markets in partnership with its consortium of member banks.
- The R3 collaborative model is the best way to quickly, efficiently and cost effectively deliver these new technologies to global financial markets.
- The team brings together a unique set of expertise in electronic financial markets, distributed ledgers and blockchain technologies.
- In his fifteen-year career at IBM he specialized in the application of new technology in banking and financial markets.
- Ian Grigg, Architecture Consultant: Ian is a financial cryptographer with 20 years experience building secure ledger systems for the internet.