SME CYBER INSIGHTS: Monday 07 April 2025 – Today’s SME Cybersecurity News & Intel

1). FINANCIAL SERVICES: NeoBanking for UK Small Businesses: Is It Right for You? What is Neobanking and How Does It Work? Neobanking, also known as digital banking or challenger banking, is a modern alternative to traditional banking. Unlike high street banks, neobanks operate primarily through mobile apps and digital platforms, often with no physical branches. They offer a streamlined, tech-driven experience that prioritises ease of use, lower costs, and innovative financial services. Why Are Neobanks Growing in Popularity? Neobanks in the UK gained traction following the 2008 financial crisis, as customers sought alternatives to traditional banks. With regulatory changes making it easier to set up new banks, fintech innovation took off, leading to a rise in digital-only banking options …