Tagged: brexit

London as a Financial Hub Since Brexit: Evidence from Latest BIS Triennial Survey

Historically, London has enjoyed an “outsized” role in euro-denominated financial transactions, according to an update shared by the Bank for International Settlements (BIS). BIS has examined the latest evidence on whether Brexit has “affected its central role in trading of interest rate derivatives, foreign exchange,… Read More

Fintech CurrencyCloud Allows Regulated FX Brokers to Reach Untapped UK, EU, US, Canada Markets

Post-Brexit, FX brokers are losing business and money because they’re “not permitted to service EU-based clients,” the team at Currencycloud notes in a blog post. And when they want to expand to reach these markets, the cost and time it takes to seek regulation is… Read More

iBanFirst Acquires UK’s FX Provider Cornhill to Address Brexit Payment Challenges

Global financial services platform iBanFirst recently confirmed the acquisition of the London-headquartered FX provider, Cornhill. The strategic acquisition aims to further build on iBanFirst’s funding partnership with private equity company arlin Equity Partners, launched in June of last year. As mentioned in the update, this… Read More

Recovery Loan Scheme Surpasses £1 Billion Lending Mark

The British Business Bank this week announced the Recovery Loan Scheme has passed a significant milestone, with 76 accredited lenders having offered more than £1bn to smaller UK businesses. Of the £1.06 billion of funding offered through 6,190 facilities so far, £822.8m has been drawn… Read More

Brexit Not Driving Spending to UK Businesses: Report

Brexit has done little to shift UK consumer spending back home, the latest two chapters of emerchantpay’s New World, One Market Report shows. The study, which surveyed more than 2,000 British consumers, analyzes consumer behavior as some societies begin their emergence from the pandemic. When… Read More

UK’s MarketFinance Explains how Fintech Ebury Can Help SMEs Deal with Price Hikes from Chinese Suppliers

UK-based MarketFinance, one of the world’s largest peer-to-peer (P2P) invoice finance platforms, notes in a blog post that Brexit and the COVID-19 outbreak have had “dramatic effects on the price of shipping.” MarketFinance adds that if your business uses suppliers that are based in other… Read More

London based Fintech Tide Reveals that UK Remains Popular Destination for EU Company Founders

The United Kingdom remains a popular destination for EU-based company founders, according to a blog post recently published by UK-based challenger bank Tide. Brexit might have “severed” the UK’s political ties to the continent, however, it does not appear to have negatively impacted the UK’s… Read More

Keith Grose from Plaid Says UK has Taken the Lead in Fintech related Developments like Open Banking, PSD2

While attending a recently-held panel session for this year’s UK Fintech Week , moderator Kristy Duncan, CEO at Women in Payments, acknowledged that the United Kingdom and the European Union could potentially benefit from an updated regulatory framework that supports innovative projects and competition. As… Read More

Currencycloud Says the Days of Unrestricted EU Market Access for UK Firms are Over, Explains how to Approach New Business Environment

Currencycloud, a cross-border payment platform, notes in a blog post that UK businesses have been struggling to deal with various issues ever since the country voted in 2016 to leave the European Union (EU). While the agreement reached between the United Kingdom and European Union… Read More

UK Banks Say they Need to be “Liberated” to Invest in IT to Defend Against Fintech Challengers, Big Tech, US Banks

The Bank of England (BoE) is getting ready for its first major break from European Union regulations with a new proposal that might make bank capital rules a lot more strict in the UK (when compared to other jurisdictions). The European Banking Authority had noted… Read More

A Discussion with Oliver Gajda of the European Crowdfunding Network: Expect Platform Consolidation & Cross Border Expansion

The European Crowdfunding Network (ECN) has long been the leading voice advocating on behalf of investment crowdfunding platforms across Europe. The member-driven group has been at the forefront of engaging with policymakers at the European Commission – an initiative that finally paid off when new… Read More

UK Fintech Review Expected to be Released Next Month, Seeks to Boost Fintech Sector Post Brexit

In March of 2020, the Chancellor of the Exchequer Rishi Sunak delivered the UK budget. Included in the presentation was the announcement of a Fintech sector review – a study to be led by Ron Kalifa OBE, who was previously CEO Worldpay and current Chair… Read More

Contactless Payments Limit Might be Increased from £45 to £100 as Britain Could Begin Moving Away from EU Guidelines

The limit on contactless payments might be increased from the current £45 to £100 in one of Britain’s very first steps away from European Union guidelines. The upper limit on touch-free or contactless payments might be raised to £100 after the suggestion was made to… Read More

Rangewell Explains What Brexit Means for SMEs

Business finance specialist Rangewell, has published a blog post that seeks to clarify how SMEs will be impacted by the Brexit deal. Agreed upon last week, the UK government is calling the deal a big win for the UK’s sovereignty.  Nic Conner, Rangewell’s Research Consultant… Read More

P2P Property Lending Platform Blend Network Reports Strong Q4 2020, Says COVID Vaccine Announcement led to Stock Market Rally

The team at Blend Network, an online peer to peer (P2P) property lending platform, notes in its latest monthly market pulse report that one of the very few, seemingly positive headlines of this year is Britain becoming the first country to license a “fully tested”… Read More

UK – EU Reach Trade Deal for Christmas

The United Kingdom and the European Union have reached a trade deal just in time for Christmas. The UK government said they have agreed on a zero tariff-free trade deal including a commitment to maintaining high labor, environment, and climate standards without giving the EU… Read More

Alon Rajic: Co-Founder at Israel’s Finofin Ltd Discusses Fintech Trends and Impact of Brexit on Global Money Transfer Business

The COVID-19 pandemic reshaped consumer mentality and habits, especially as it relates to people’s financial needs. But it remains unclear what new habits born out of necessity are here to stay and what will vanish as the pandemic grinds to an eventual halt. We recently… Read More

Many More UK Residents are Buying Bitcoin and Other Cryptos as British Pound falls to Lowest Level Against USD in 35 Yrs: Survey

Paxful, a leading peer-to-peer cryptocurrency marketplace, recently published the results of a survey performed with assistance from OnePoll on “the state of the financial climate” in the UK. As noted in a blog post by Paxful, sentiments include recent notions about the country’s traditional banking… Read More

UK’s FCA Announces Changes Aimed at Limiting “Risk of Disruption” to Open Banking Services after Brexit

The UK’s Financial Conduct Authority (FCA) has announced certain changes that are aimed at limiting the “risk of disruption” to Open Banking services after Brexit. The FCA’s changes are intended to allow UK-headquartered third-party providers (TPPs) to use an alternative to eIDAS certificates to gain… Read More

Payments Platform Stripe to Move Business Operations to Dublin due to Brexit

Payments platform Stripe is reportedly moving its operations to Dublin due to Brexit. Most European customers will be processed locally (beginning on November 19, 2020). Stripe’s management confirmed that they’re moving payment processing for most of their European clients to the firm’s Irish-regulated business entity… Read More

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