Tagged: uk

July 30, 2020 @ 10:47 am By Omar Faridi  |  

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, recently noted that as the Coronavirus-related lockdown measures are eased, many businesses in the United Kingdom are preparing to open up again. However, even for businesses that… Read More

July 30, 2020 @ 9:22 am By JD Alois  |  

The Bank of England has announced that Accenture has been appointed as the “Technology Delivery Partner for the Real Time Gross Settlement (RTGS) service Renewal Programme.” RTGS is where financial institutions hold their sterling bank accounts. The Bank of England will work with Accenture to… Read More

July 30, 2020 @ 8:41 am By Omar Faridi  |  

JustUs, a UK-based peer to peer (P2P) lender, is planning to introduce its Small Business Interruption Loan Service (SBILS) by the end of next month and has asked the UK government to also take part in the program by lending alongside the crowd. The SBILS… Read More

July 29, 2020 @ 7:27 am By Omar Faridi  |  

Starling Bank, a leading UK based digital bank, has reportedly delivered more than £654 million in loans under the United Kingdom’s bounce back loan scheme (BBLS) to around 24,000 local firms. Starling Bank, which teamed up with Funding Circle to issue £300 million in loans… Read More

July 29, 2020 @ 7:18 am By Omar Faridi  |  

Thought Machine, a core banking technology firm, has acquired an additional $42 million in capital as part of its massive Series B round – which brings the total funds raised during the round to $125 million. Thought Machine had secured $83 million via the Series… Read More

July 29, 2020 @ 1:25 am By Omar Faridi  |  

Ireland-based Linked Finance, a peer to peer (P2P) lender, has asked the Irish government to extend the nation’s €2 billion (appr. $2.35 billion) credit guarantee scheme to P2P and non-banking lending platforms. The UK has introduced the COVID-19 loan scheme, however, Ireland’s alternative lending solution… Read More

July 28, 2020 @ 10:45 pm By Omar Faridi  |  

Robert McKechnie, head of product at Equifax UK, a data analytics and technology company, has argued that Open Banking can help with lending during the COVID-19 crisis. McKechnie believes that data-sharing via Open Banking (after obtaining customers’ consent) will help with giving potential lenders the… Read More

July 28, 2020 @ 9:12 pm By JD Alois  |  

As has been rumored for some time now, Transferwise has raised additional funding at a valuation of $5 billion – a 43% increase to its last funding round. According to a note from the Fintech, Transferwise has closed on $319 million in new capital with… Read More

July 28, 2020 @ 11:06 am By JD Alois  |  

Moneybox, a UK based Fintech, has raised £4 million in just four hours crowdfunding on Crowdcube, according to a note from the company. According to the offering page, Moneybox has now raised £4.47 million from 11,012 investors at a pre-money valuation of £142.7 million. The… Read More

July 28, 2020 @ 8:35 am By JD Alois  |  

A recent report authored by Jefferies wonders aloud if COVID will not only impact the health of the world but may also kill off digital-only challenger banks. According to the report, analysis of data indicates that “digital engagement” has moved back into the realm of… Read More

July 28, 2020 @ 8:08 am By JD Alois  |  

Digital bank Revolut has announced a new price comparison feature for its users. Working with Decision Tech, Revolut has launched “Essentials”  to enable users to more easily switch and save on various services such as gas, electricity, and broadband. The Essentials feature is available now… Read More

July 28, 2020 @ 8:04 am By Samantha Hurst  |  

Just a little over a year after raising £2,395,250 through its first Seedrs campaign, property crowdfunding platform CapitalRise has returned to the equity crowdfunding platform and has successfully raised nearly £1.7 million from more than 300 Seedrs investors so far. The funding round’s co-investor is the… Read More

July 28, 2020 @ 7:52 am By Omar Faridi  |  

Fintech lender and digital bank Zopa has provided rates for its fixed-term savings accounts and noted that current investors that express interest will get a chance to receive exclusive products. Zopa clarifies that these rates are available only to investors and not necessarily what will… Read More

July 28, 2020 @ 7:42 am By Omar Faridi  |  

Flex, a money management app, has been introduced in order to help people with solving their financial problems by effectively managing their finances. Flex’s money management service can be accessed by opening a new account within minutes, the company claims. There’s currently a free and… Read More

July 27, 2020 @ 11:51 pm By Omar Faridi  |  

The UK’s Fintech sector is the largest in Europe. It managed to secure $4.9 billion in total investments last year, across 359 different deals. There also appears to be some sort of consistent or coherent Fintech Sector Strategy for Saudi Arabia, and also a strategy… Read More

July 27, 2020 @ 1:03 pm By Samantha Hurst  |  

battleface, a UK-based insurtech, recently announced the launch of its COVID-19 travel insurance package. battleface reported that the new policy will give travelers the peace of mind they have been looking for to venture out safely, including to countries currently advised against traveling to by… Read More

July 27, 2020 @ 12:22 pm By JD Alois  |  

Seedrs has long been an innovator in the secondary market for crowdfunded securities. Today, the leading UK based crowdfunding platform is announcing variable pricing for its secondary market. Launched in 2017, Seedrs Secondary Market has continued to iterate and add new features and functionality. Of… Read More

July 27, 2020 @ 11:04 am By JD Alois  |  

The BCB Group, a digital asset firm, has launched BLINC – said to be one of the first real-time payments networks of its kind that allows free, real-time transactions across fiat and digital currencies. In January of 2020, BCB Group announced receipt of an Authorised… Read More

July 27, 2020 @ 9:05 am By JD Alois  |  

Landbay. a digital buy-to-let finance platform, has announced a partnership with an unnamed UK bank. According to a note from Landbay, the deposit-taking bank will fund mortgages originated by Landbay and then hold them on their balance sheet. Landbay states that this arrangement complements its… Read More

July 27, 2020 @ 8:53 am By Omar Faridi  |  

Investment in the United Kingdom’s Fintech industry reportedly slowed down by over a third during H1 2020, as many investors appear to be holding on to cash due to the economic uncertainty created by COVID-19. Despite the slowdown, investment levels still managed to gain 22%… Read More