Tagged: united kingdom

September 24, 2023 @ 8:07 pm By Tony Zerucha  |  

The Payments Association, a United Kingdom-based payments organization, presented its report, Navigating the rising cost of living: Payments innovation as a game-changer at Parliament last week. The report identifies three groups of people newly at risk of financial exclusion and provides recommendations for building a… Read More

September 23, 2023 @ 7:22 pm By Omar Faridi  |  

Tred, which aims to build one of the UK’s green banking platforms, has secured 114% (£171,707.44) of its £150,000 target from 428 investors with 3 days left in the firm’s crowdfunding campaign, carried out via Crowdcube. Tred explains that they are B Corp pending as well… Read More

September 23, 2023 @ 6:14 pm By Omar Faridi  |  

UK Finance recently commented on the Financial Conduct Authority’s (FCA)’s account access and closure report. According to UK Finance: “Freedom of expression is vitally important and today’s report from the FCA makes clear that accounts are not being closed because of political beliefs or other… Read More

September 23, 2023 @ 1:11 pm By Omar Faridi  |  

The Northern Ireland Housing Executive (NIHE) has reportedly invested more than £32m into building more than 400 new social homes in the north east of the country last year, the team at UK’s Blend Network has noted. Blend Network, a development finance lender, says it’s… Read More

September 23, 2023 @ 10:31 am By Michael Wong  |  

Global payments fintech player Nium has inaugurated its European headquarters in London, signifying its robust commitment to enhancing its European presence and recognizing the UK as a paramount fintech nexus. Originally founded in Singapore in 2014, Nium has revolutionized the manner in which businesses facilitate… Read More

September 22, 2023 @ 11:36 am By Omar Faridi  |  

HouseStars, the UK’s AI-powered, all-inclusive app, connecting tradespeople to property owners, has secured 97% (£121,369) of its £125,001 target from 67 investors with 26 days left in the firm’s crowdfunding campaign, carried out via Seedrs. Located in the United Kingdom, the firm operates in the… Read More

September 22, 2023 @ 6:06 am By Omar Faridi  |  

Global fintech SumUp has launched 7AM payouts in the UK, a feature giving merchants near-instant access to their money. As the UK cost of living crisis persists, SumUp has responded by “working with merchants to ensure they get their money faster, to help manage cash… Read More

September 21, 2023 @ 12:19 pm By JD Alois  |  

Crowdcube, one of the largest investment platforms in the world, has posted a brief update on its operations during the month of August. According to an “X” (previously a Tweet), during the month of August: Wombat raised the most amount of funds, booking £2,963,608. 3ti… Read More

September 21, 2023 @ 10:36 am By Omar Faridi  |  

British Business Investments announces a £15m follow-on investment into North-West based Universal Leasing Limited. The investment, which follows an earlier £12m commitment made to Universal Leasing in 2018, allows the company “to further increase its support for smaller businesses.” The transaction will be structured “as… Read More

September 21, 2023 @ 8:31 am By Omar Faridi  |  

Digital bank Revolut, the provider of the global financial super app with 30 million clients  throughout the world, announced an expansion of its professional team as it prepares to develop various European mortgage products. With a goal to streamline mortgages and offer clients with frictionless… Read More

September 21, 2023 @ 8:03 am By JD Alois  |  

The Bank of England held benchmark rates steady following the US Federal Reserve’s decision to continue its pause. The BOE said the Monetary Policy Committee voted 5 to 4 to hold the Bank Rate at 5.25%. The minority preferred to increase rates by 25 basis… Read More

September 20, 2023 @ 11:04 pm By Omar Faridi  |  

Tide, the business financial platform, has reached a significant growth milestone. The business now claims a 10% market share of all UK small businesses “with more than 550,000 customers (members).” Tide serves small businesses which “don’t have their own finance function, such as sole traders,… Read More

September 19, 2023 @ 11:52 am By JD Alois  |  

Swift, a global financial messaging service that is used by just about everyone to transfer value, has partnered with Wise (LSE:WISE) – a stealth bank that got its start in low-cost transfers. According to a statement by Swift, the partnership will enable users to complete… Read More

September 19, 2023 @ 8:36 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has released its initial report on potential discrimination at UK banks. The report follows the saga of Nigel Farage, a vocal political personality and former UKIP leader, who had his account shuttered at Coutts after management decided his values… Read More

September 19, 2023 @ 8:15 am By Omar Faridi  |  

Gatehouse Bank, the Shariah-compliant challenger bank, has released new research demonstrating that the UK’s money mindset is shifting towards saving. The research looked at UK adults’ attitudes towards money, “assessing the key factors that influence them, why they look to save or spend their money… Read More

September 19, 2023 @ 8:10 am By Omar Faridi  |  

ThinCats, an alternative lender, has agreed a new warehouse facility with Citi and Barclays Bank PLC supported by a guarantee through the British Business Bank’s ENABLE Guarantee program. This new facility supports lending of “up to £696m for mid-sized smaller businesses in the UK, making… Read More

September 18, 2023 @ 10:11 pm By Omar Faridi  |  

Despite a challenging economic environment, 101 new businesses were created every hour across the UK in the first half of 2023, according to research by iwoca, one of Europe’s small business lenders. Analysis of Companies House data reveals “that over 436,000 businesses were registered in… Read More

September 15, 2023 @ 10:47 am By Omar Faridi  |  

ClearBank Ltd., an enabler of bank accounts, real-time clearing, and embedded banking for financial institutions, presents its unaudited H1 2023 results. The bank saw “a 144% YoY increase in revenues from £20.2m in H1 2022 to £49.3m in H1 2023.” Over the same period, customer… Read More

September 14, 2023 @ 8:24 am By Omar Faridi  |  

Experian has announced a deal with Konfir in a move that is set to transform the pre-employment checking process for both candidates and employers. By adding Experian’s income and employment verification solution, Work ReportTM1, to its existing offering, Konfir reportedly “becomes the first provider in… Read More

September 14, 2023 @ 8:11 am By Omar Faridi  |  

Mastercard (NYSE: MA) and Paysend, a UK-based fintech, have today expanded their collaboration to enhance cross-border payments for small and medium enterprises (SMEs), which are increasingly looking “for ways to send money or pay vendors across the globe quickly and securely.” While digital payments are… Read More