Tagged: uk

March 2, 2023 @ 9:25 am By JD Alois  |  

FOLK2FOLK, a peer-to-peer lending platform, has joined the Financial Intermediary & Broker Association (FIBA). As a member, the P2P lender will be able to expand its broker network for its loans. Adam Tyler,  FIBA executive chairman, said their lending partners are carefully selected, and the… Read More

March 2, 2023 @ 8:03 am By Omar Faridi  |  

Funding Circle (LSE:FCH) has published its Preliminary Results for the year ended 31 December 2022. Funding Circle reports Group total income (guidance) of £140m – £155m; £148.7m for FY 2022; and £206.9m for FY 2021. And Adjusted EBITDA (guidance) of Positive Adjusted EBITDA; £6.8m for… Read More

March 1, 2023 @ 10:15 am By JD Alois  |  

Joining the climate disclosure bandwagon, Tide claims it has become the first Fintech in the world to remove 100% of emissions. Tide is a business finance Fintech that has also committed to becoming fully Net Zero by 2030. Tide has issued three climate pledges: Pledge… Read More

March 1, 2023 @ 9:27 am By JD Alois  |  

Revolut, a UK-based digital bank, has reported its first full-year profit. Revolut has published its Annual Report, which tracks operations for the year ending December 2021. According to the report, Revolut generated £636 million in revenue during 2021, delivering £26.3 million to the bottom line…. Read More

March 1, 2023 @ 1:00 am By JD Alois  |  

New British Business Bank research indicates that challenger and specialist banks provided £35.5 billion in lending during 2022. This means that challenger/specialist banks garnered a 55% share of the market. One would expect that many of these financing platforms are Fintechs. The data is part… Read More

February 28, 2023 @ 11:19 pm By Omar Faridi  |  

lettingaproperty.com says it’s on a mission “to become the go-to destination for renting.” The firm has raised 105% of its £850,003 target via Seedrs at the time of writing. As noted in the update, the offer is set to be closing soon.  At present, £900,284… Read More

February 28, 2023 @ 11:31 am By JD Alois  |  

Leeds is the beneficiary of a new government-supported Fintech hub that will formally launch today. The Centre for Finance, Innovation, and Technology (CFIT) is described as the first of its kind, backed by £5.5 million of Treasury and City of London Corporation funding. Fintech is… Read More

February 28, 2023 @ 8:45 am By JD Alois  |  

In a speech on regulations and international competition, Victoria Saporta, Executive Director of Prudential Policy, commented on PRA’s new secondary objective – enabling international competitiveness and growth. PRA, or the Prudential Regulation Authority, is part of the Bank of England and oversees 1500 banks and… Read More

February 27, 2023 @ 10:47 pm By Omar Faridi  |  

Northern Ireland (NI) Office Minister of State Steve Baker has announced £18.9 million investment in NI’s cyber security industry at Queen’s University Belfast’s (QUB) Centre for Secure Information Technologies (CSIT). This includes £11 million funding from the New Deal for NI. The investment will “see… Read More

February 27, 2023 @ 9:42 am By JD Alois  |  

Hong Kong-based Shanghai Commercial Bank (ShaComBank) has enlisted Salt Edge to help power its open banking services, including PSD2 options, according to a blog post. ShaComBank currently has more than 50 branches in both Hong Kong and mainland China, as well as the United States… Read More

February 25, 2023 @ 6:36 pm By Omar Faridi  |  

DirectID, a UK-based, global fintech specializing in credit risk, risk analytics and predictive modelling, using bank transaction data, announced that Ingka Investments, the investments arm of Ingka Group, has made a EUR 9m minority investment in the company. With a mission to promote financial inclusion… Read More

February 25, 2023 @ 10:11 am By Omar Faridi  |  

UK car finance fintech Carmoola has raised a £8.5 million Series A round and £95 million debt facility to improve “the way people pay for car purchases.” The investment round was “led by US-based fintech specialists QED Investors, with participation from existing investors VentureFriends and… Read More

February 24, 2023 @ 12:22 pm By Omar Faridi  |  

NatWest and NAB have published a jointly authored white paper “exploring the common threads that bind both Australia’s Consumer Data Right (CDR) and the UK’s Open Banking regime.” The agenda-setting whitepaper “highlights the similarities in the policies that underpin both regimes: to increase competition, innovation… Read More

February 24, 2023 @ 9:02 am By Omar Faridi  |  

Funding Circle (LSE:FCH) has announced a partnership with Sage, a firm focused on accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs). The collaboration “makes it simpler for small businesses to secure funding.” With the incorporation of Sage Accounting and Funding Circle’s… Read More

February 22, 2023 @ 11:14 pm By Omar Faridi  |  

ALMIS International is pleased to announce that GB Bank, which was awarded their full banking license in August 2022, have chosen “to add additional ALMIS International products as it continues to drive forward its ambitious growth plans.” Having already trusted ALMIS International for their ALM… Read More

February 22, 2023 @ 11:00 pm By Omar Faridi  |  

SmartSave Bank, the savings brand of UK digital bank Chetwood Financial, has today announced a new partnership with Flagstone, the UK’s cash deposit platform. Flagstone claims it is “the UK’s largest smart cash platform for corporate, charitable and individual clients.” It offers “a choice of… Read More

February 22, 2023 @ 10:42 am By JD Alois  |  

Wise (LSE:WISE) has announced a partnership with G-P (Globalization Partners), a global employment platform. Wise will now enable the payments of freelancers and contractors around the world. Wise is a top payments and transfers provider that is also an emerging stealth bank. By working with G-P,… Read More

February 22, 2023 @ 8:08 am By Omar Faridi  |  

Klink Finance, a crypto startup based in London, has received its initial authorization to offer its cryptocurrency services across the European Union. Klink is “building a Prize Linked Wallet that offers cryptocurrency investors the opportunity to store their funds and earn regular rewards on top… Read More

February 22, 2023 @ 8:06 am By Omar Faridi  |  

Socotra announces a major drive into the European insurance markets, with an initial focus on the UK, DACH, France, and others, “following strong growth in 2022, including a 71% revenue increase, a 75% growth in customers, and a 117% YoY increase in policies managed on… Read More

February 21, 2023 @ 11:17 pm By Omar Faridi  |  

New data from Barclays, which sees nearly half of the nation’s debit and credit card spending, reveals that “a record 91.2 per cent of all eligible card transactions were made using contactless payments last year – a sign that consumers and businesses are continuing to… Read More