Tagged: uk

October 9, 2023 @ 7:37 am By Omar Faridi  |  

Metro Bank has announced a successful capital package consisting of the following: a £325m capital raise and a £600m debt refinancing. Metro Bank says it has “secured £325m capital raise, comprising £150m of new equity and £175m of new MREL issuance, alongside £600m of debt… Read More

October 8, 2023 @ 2:49 pm By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF) has published a report on the crypto ecosystem in Latin America and the Caribbean (LAC). CCAF is the leading research organization in the world studying innovation in financial services – Fintech. The Centre is noted for its evidence-based… Read More

October 8, 2023 @ 1:56 pm By Omar Faridi  |  

In compliance with the updated Financial Promotions Regime, Binance has reportedly launched a new domain for UK users and partnered with Rebuildingsociety.com Limited which will “approve Binance’s marketing and communications materials.” Rebuildingsociety.com is an FCA regulated firm which is “authorized to approve crypto marketing and… Read More

October 7, 2023 @ 3:34 pm By Omar Faridi  |  

NatWest has launched a new transaction categorization service called Enriched Transactions, which is available to businesses, such as Account Information Service Providers (AISPs) and lending providers, to integrate with their apps and digital platforms. By making the API-enabled service available to businesses, NatWest claims it… Read More

October 6, 2023 @ 5:00 pm By JD Alois  |  

Komainu, a digital asset platform for institutions, says it is now registered with the UK Financial Conduct Authority (FCA) and will provide a custodial wallet service for clients.  Komainu must adhere to AML/KYC rules. Komainu will offer crypto-custody services in the UK, including collateral management… Read More

October 6, 2023 @ 11:45 am By Omar Faridi  |  

LendInvest (LSE:LINV), which claims to be the UK’s leading platform for mortgages, has made key reductions to its Residential Mortgage range as it continues “to improve its offering for key workers, the self-employed and those with complex income streams and credit histories.” The lender’s Residential… Read More

October 6, 2023 @ 9:01 am By Omar Faridi  |  

Metro Bank (MTRO.L)has had a challenging week. Reports that the UK-based challenger bank had been planning to raise as much as £600 million from investors led to financial regulators asking the bank’s management to have a sit-down meeting. Although shares in the banking institution fell… Read More

October 6, 2023 @ 8:49 am By Omar Faridi  |  

At Coinbase (NASDAQ:COIN), they’re working hard to help update the financial system by building trusted products that aim to “expand the utility and adoption of crypto because they believe crypto and blockchain technology have the ability to increase economic freedom and opportunity around the world.”… Read More

October 6, 2023 @ 8:39 am By Omar Faridi  |  

Tracxn, a global SaaS-based market intelligence platform, has released its Geo Quarterly Report: FinTech UK – Q3 2023. The report, based on Tracxn’s extensive database, provides insights into the UK FinTech space. The UK Fintech startup ecosystem “ranks third in terms of overall funding, after… Read More

October 6, 2023 @ 6:54 am By Omar Faridi  |  

Lloyds Bank has released a new Digital ID app with Yoti – Lloyds Bank Smart ID. The app reportedly gives people “a more private, secure and convenient way to prove their age or identity through their mobile phone.” This follows the £10 million investment Lloyds… Read More

October 5, 2023 @ 9:58 am By Omar Faridi  |  

The UK’s smallest companies could generate £77.3bn of extra revenue and create 885,000 new jobs if they “all digitalized at the rate of the top 20% of tech adopters.” This is according to new research from Xero, the global small business platform, and economics consultant,… Read More

October 5, 2023 @ 9:42 am By Omar Faridi  |  

Digital bank Revolut has reportedly made a deal with primary backer SoftBank on a change to the latter’s shareholding, a strategic move that will clear away a significant barrier in the fintech firm’s pursuit of a UK banking license. The Bank of England’s Prudential Regulation… Read More

October 4, 2023 @ 11:23 pm By Omar Faridi  |  

SquareBook, the auction technology platform for equity capital raises, has acquired 101% (£507,320) of its £500,000 target from 153 investors (at the time of writing) via Seedrs with 2 days left in the firm’s crowdfunding campaign. Located in Edinburgh, United Kingdom, SquareBook operates in the… Read More

October 4, 2023 @ 2:17 pm By Omar Faridi  |  

Six months into 2023, private real estate was still “weathering ongoing macroeconomic headwinds,” according to an update shared by Pitchbook. In the US, the federal funds rate “has steadily increased since March 2022, hovering within a range of 5.0% and 5.25% as of the end… Read More

October 4, 2023 @ 9:55 am By Omar Faridi  |  

Digital bank Revolut is under scrutiny from the UK’s Financial Conduct Authority (FCA) for allegedly allowing money to “leave accounts flagged as potentially being used by scammers.” The Lending Standards Board (LSB) oversees the CRM Code, which is reportedly “the only set of protections requiring… Read More

October 4, 2023 @ 8:22 am By Omar Faridi  |  

Hastee claims that it is disrupting a rigid monthly pay cycle that’s no longer “fit for purpose” by giving employees early access to part of their earned pay. This ensures employees can cove themselves “for financial emergencies without the risk of borrowing funds they may… Read More

October 3, 2023 @ 11:44 pm By Omar Faridi  |  

Business confidence in the UK fell to 36% in September, “a five point dip from the 18-month high (41%) recorded in August, as companies saw a decline in both economic optimism and trading prospects for the year ahead.” This, according to an update shared by… Read More

October 3, 2023 @ 11:00 pm By Omar Faridi  |  

Canada has the highest growth rate of fintech adoption across six markets, according to research shared by Tipalti. A new study, conducted by Tipalti, analyzed factors “such as global fintech adoption rates, Google searches for fintech by country and the regions that have the highest… Read More

October 3, 2023 @ 10:52 pm By Omar Faridi  |  

The team at Perenna says they’re pleased to announce their exclusive partnership with London & Country Mortgages as they begin lending. Perenna received their full banking license from the Prudential Regulatory Authority (PRA) and UK’s Financial Conduct Authority (FCA) at the start of September and… Read More

October 3, 2023 @ 9:55 am By Omar Faridi  |  

UK insurtech, Ripe, achieved strong double-digit growth in 2022, maintaining its 15 year record of consistent revenue rises. Turnover climbed by £4 million to £27.2 million “in the 12 months ending 31 December 2022, compared with £23.3 million in 2021.” Over the course of the… Read More