Digital Presence App And The Post-Virus Office of the Future
From office attendance to app presence? UKTech News reports a successful tech raise of special relevance in a world of remote working and the changes brought about by the Covid-19 pandemic. For a lean and mean team like ours at Money&Co., simple digital meeting devices work very well – but this app may be a significant player in the office life of the future.
New smart employee app Blink has officially launched today. Blink has already raised £8.2million in capital, led by Paris and San Francisco based venture capital firm Partech, alongside a roster of high profile Angel Investors.Over the past 15 months, Blink has been developed and deployed in partnership with leading organisations including Stagecoach, Domino's and the NHS to empower and protect frontline and key workers inside their organisations.The company, founded by CEO Sean Nolan, designed the app to empower key workers on the frontline. It provides them with a single app to access all important information and systems and the ability to connect with their colleagues.For the past year, Blink has been partnering with frontline organisations to solve real-life problems for their workers. The first major rollout in January 2019 was for 22,000 employees at transport company Stagecoach.
Historical Performance And IFISA Process Guide
Money&Co. lenders have achieved an average return of more than 8 per cent gross (before we deduct our one per cent fee).
That figure is the result of over £23 million of loans facilitated on the site, as we bring individuals looking for a good return on capital together with carefully vetted small companies seeking funds for growth. Bear in mind that lenders' capital is at risk. Read warnings on site before committing capital.
Money&Co. has been lending for over 5 years and has facilitated over £23 million - with only two bad debts so far, representing a bad debt rate of 0.03 per cent per annum.
All loans on site are eligible to be held in a Money&Co. Innovative Finance Individual Savings Account (IFISA), up to the annual ISA limit of £20,000. Such loans offer lenders tax-free income.Our offering is an Innovative Finance ISA (IFISA) that can hold the peer-to-peer (P2P) business loans that Money&Co. facilitates. For the purposes of this article, the terms ISA and IFISA are interchangeable.So here's our guide to the process:
Step 1: Register as a lender. Go to the login page, and go through the process that the law requires us to effect. This means we have to do basic checks on you to comply with money-laundering and other security requirements.
Step 2: Put money into your account. This is best done by electronic transfer. We can also process paper cheques drawn in favour of Denmark Square Limited, the parent company of Money&Co.
Step 3: Buy loans in the loan market. Once you've put cash in your account it will sit there - and it won't earn interest until you've bought a piece of a loan. It's this final step that requires lenders and IFISA investors to be pro-active. Just choose some loans - all loans on the Money&Co. site can be held in an IFISA - and your money will start earning tax-free interest.
The ISA allowance for 2019/20 is unchanged from last tax year at £20,000, allowing a married couple to put £40,000 into a tax-free environment. Over three years, an investment of this scale in two Money&Co. Innovative Finance ISAs would generate £8,400 of income completely free of tax. We're assuming a 7 per cent return, net of charges and free of tax here.Once you have made your initial commitment, you might then consider diversifying - buying a spread of loans. To do this, you can go into the "loans for sale" market. All loans bought in this market also qualify for IFISA tax benefits.