Tagged: uk

August 22, 2023 @ 8:39 am By Omar Faridi  |  

Cynergy Bank announces that it has secured a £20 million Tier 2 capital facility from British Business Investments. The capital will be deployed “across Cynergy Bank and Cynergy Business Finance.” The new funding from British Business Investments, “a wholly-owned commercial subsidiary of the British Business… Read More

August 22, 2023 @ 7:36 am By JD Alois  |  

Property finance platform LendInvest has added automatic decisions in principle (DiP) in its latest platform update, according to a note from the firm. The goal is to streamline the financing process for residential mortgages further. LendInvest says that the DiP process is applicable for applications… Read More

August 22, 2023 @ 7:12 am By Omar Faridi  |  

It can be beneficial to support new businesses through a dedicated pre-regulated service and operating account, through to a fully licensed bank. This approach can provide cost-effective “access to Faster Payments (FPS) – offering all the advantages of the UK’s faster payments infrastructure to its… Read More

August 21, 2023 @ 9:23 am By Omar Faridi  |  

In an IG Investor Sentiment Survey of c.4500 clients, only 28% of UK clients said ESG (Environmental, Social, Governance) considerations “are important to them when making an investment decision.” This is particularly low “in comparison to 42% of Australian investors and 40% of Japanese investors.”… Read More

August 20, 2023 @ 10:11 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) is setting out their expectations for crypto-asset businesses that need “to comply with a change in money laundering legislation legislated by government in July 2022.” From 1 September 2023, crypto-asset businesses in the UK will be “required to collect,… Read More

August 20, 2023 @ 4:37 pm By Omar Faridi  |  

The Payment Systems Regulator (PSR) has launched two consultations in the lead up “to the implementation of its new authorised push payment (APP) fraud reimbursement requirements. ” In June, the PSR set out its final position on “tackling APP fraud, which will mean the vast… Read More

August 19, 2023 @ 6:55 pm By Omar Faridi  |  

Ecommpay, an international payment service provider and UK and European direct bank card acquirer, now offers local acquiring in the US, enabling UK and EU merchants the ability to expand into North America. Additionally, Ecommpay will offer protection “from fraud-related chargebacks to ensure merchants do… Read More

August 19, 2023 @ 6:52 pm By Omar Faridi  |  

Nottingham Building Society has announced further updates to its mortgage products, designed to support both residential and Buy-To-Let mortgage applicants. The new products, launched this week, “offer advantages for a broad spectrum of borrowers against a volatile economic backdrop.” Amongst the latest offerings is a… Read More

August 18, 2023 @ 1:01 pm By JD Alois  |  

The current cost of living crisis has underlined the need for our financial services industry to innovate and push forward solutions that better serve the consumer – enabling greater access to better products at a lower cost, for everyone. The Fintech sector has been a… Read More

August 18, 2023 @ 9:22 am By JD Alois  |  

The British Business Bank has announced an increase of £75 million to commercial lender DF Capital. This is an addition to an existing ENABLE Guarantee, which will see the facility increased to £250 million. The guarantee may be increased again at some point in the… Read More

August 17, 2023 @ 9:37 am By JD Alois  |  

Open banking provider TrueLayer has appointed Michael Brown as its new Head of E-Commerce, according to a statement from the firm.  TrueLayer said the hire was part of  push into more verticals as open banking adoption grows. Prior to joining the Fintech, Brown was Director… Read More

August 17, 2023 @ 8:19 am By Omar Faridi  |  

PayPal (NASDAQ:PYPL) says it will be halting UK-based crypto sales until next year. Payments firm PayPal recently revealed that it will not be allowing UK clients to purchase cryptocurrencies via its platform from October 2023, as the company works on adhering to new regulatory guidelines for… Read More

August 16, 2023 @ 6:37 pm By JD Alois  |  

As outlined in the Kalifa Review of UK Fintech, the UK Fintech Growth Partners has launched its Growth Stage Fintech Fund. The Kalifa Review declared there was an annual growth stage funding shortfall for UK Fintechs of around £2 billion. A £1 billion fund was… Read More

August 16, 2023 @ 11:36 am By Omar Faridi  |  

SumUp has launched in Australia, its 36th market, as the global fintech continues its global expansion and “rolls out its proprietary hardware and software solutions for Australian businesses.” SumUp was founded in 2012 with “the mission of empowering small businesses and entrepreneurs with affordable and… Read More

August 16, 2023 @ 10:15 am By JD Alois  |  

Payments Fintech GoCardless has partnered with Kolleno, a B2B accounts receivable management and cash collection platform designed to help businesses accelerate cash flow. GoCardless says the integration will help Kolleno customers be proactively accepting payments instead of waiting for payments to arrive. Kolleno will also… Read More

August 15, 2023 @ 10:51 pm By Omar Faridi  |  

From today, TSB is taking applications for fintechs to participate in its third annual TSB Innovation Labs Program – “as the bank and Fintech Scotland encourage a new round of fintech collaboration.” Under the program, winning Fintechs will officially partner “with TSB to offer innovative… Read More

August 15, 2023 @ 8:50 am By Omar Faridi  |  

FOLK2FOLK, which claims to be the UK’s leading peer-to-peer lending platform connecting Investors with regional and rural businesses, is pleased to announce that its dedicated community of Investors “earned £14.2 million in interest during the last tax year (2022/2023).” According to the firm, this achievement… Read More

August 15, 2023 @ 8:45 am By Omar Faridi  |  

Students off to university for the first time this year could be “the first crop of graduates who face repaying their university debts into retirement,” according to PensionBee, an online pension provider. As noted in a blog post by PensionBee, this year’s Freshers will be… Read More

August 15, 2023 @ 8:39 am By Omar Faridi  |  

Aegon UK has announced an extended strategic partnership with Nationwide Building Society. Aegon UK will continue to be the ISA and General Investment Account provider of choice for all Nationwide customers, “with the extended partnership seeing the building society transfer its existing financial planning service… Read More

August 14, 2023 @ 11:44 pm By Omar Faridi  |  

Following a review of fund managers’ value assessments, the UK Financial Conduct Authority (FCA) has found “that while many firms have better practices in place, some still require improvement.” In 2017, the FCA published its Asset Management Market Study, which “found evidence of weak demand-side… Read More