Tagged: uk

July 9, 2024 @ 10:50 am By JD Alois  |  

In her first speech as Chancellor, Rachel Reeves announced a new National Wealth Fund with an objective to invest in “new and growing industries.” The fund is also expected to “catalyse private sector investment.” It has been reported this new fund will be funded with £7.3 billion. At the… Read More

July 9, 2024 @ 9:12 am By JD Alois  |  

Seedrs, based in the UK but operating across the European continent as a securities crowdfunding platform, will rebrand as Republic Europe. Seedrs was founded in 2012 by Jeff Lynn, an American and former corporate attorney at Sullivan and Cromwell, and Carlos Silva as part of a… Read More

July 9, 2024 @ 8:23 am By Omar Faridi  |  

PensionBee, a London-based online pension provider, has chosen to base its US business headquarters on the east coast of the United States, in New York City. The London Stock Exchange-listed FTSE stock, UK financial technology firm, which has over £5 billion ($6.3 billion) assets under… Read More

July 9, 2024 @ 8:21 am By Omar Faridi  |  

The KPMG and REC, UK Report on Jobs survey, compiled by S&P Global, signalled a further decline in permanent placements in June as general election uncertainty and reduced demand for workers weighed on hiring activity. Companies instead looked to temporary solutions “for their staffing needs,… Read More

July 8, 2024 @ 10:00 am By JD Alois  |  

  The British Business Bank has announced the Growth Guarantee Scheme, which aims to help smaller businesses access the growth capital. The program is the successor to the Recovery Loan Scheme, which was published today. The Bank said the program is expected to support around… Read More

July 8, 2024 @ 9:20 am By Omar Faridi  |  

Assetz Capital, a funder in the SME development lending market, announce a significant enhancement to its development lending solutions, “offering stronger initial day one advances to developers on schemes up to 70% LTGDV.” This strategic offer is designed to equip housebuilders “with robust financial support… Read More

July 8, 2024 @ 8:58 am By Omar Faridi  |  

UK’s ThinCats has shared insights following the new Labour government announcement. Managing Director Ravi Anand gives his thoughts on what ThinCats would like “to see from the new government and challenges them to back growth and invest in mid-sized SMEs.” For any incoming Government, there… Read More

July 7, 2024 @ 4:58 pm By Omar Faridi  |  

Nik Storonsky, the CEO of Revolut, has spent the last ten years focused on disrupting the traditional banking / financial services sector with various innovations. The Fintech billionaire and ex- Lehman Brothers trader is now looking to enhance the existing venture capital space. Storonsky has… Read More

July 7, 2024 @ 11:47 am By Omar Faridi  |  

British Business Bank doubles existing ENABLE Guarantee transaction with Oxbury Bank to £200m, including innovative new green finance structure. The original £100m transaction was announced in November 2023 – “supporting more than £140m of lending into the rural economy in less than six months.” The… Read More

July 6, 2024 @ 2:05 pm By Omar Faridi  |  

Iress and Atom bank recently revealed that they have entered a new five-year contract for Iress’s MSO software, to be offered as a cloud-powered managed service. Atom bank has reportedly been an Iress MSO client since 2016. As an original seed client, Atom bank has… Read More

July 6, 2024 @ 1:51 pm By Omar Faridi  |  

UK’s PensionBee, an online pension provider, has officially responded to the 2024 General Election result. Becky O’Connor, Director of Public Affairs at PensionBee, commented: “Today, we welcome a new government, and as they take office, we anticipate significant advancements in several key areas of pension… Read More

July 5, 2024 @ 3:52 pm By Omar Faridi  |  

DNA Payments and Kestronics have recently launched a strategic partnership. This collaboration not only equips merchants across the UK with DNA Payments’ payment devices and solutions, but also offers them “enhanced security, faster transaction processing, and a seamless payment experience.” Fintech DNA Payments and Kestronics,… Read More

July 5, 2024 @ 3:51 pm By Omar Faridi  |  

Your Credit Score, Lloyds Bank’s free credit checking service, now has 10 million registered customers. The feature, available through the mobile banking app and online, “allows customers to view their credit report and access personalised practical tips to improve or maintain their score.” As millions… Read More

July 5, 2024 @ 11:52 am By JD Alois  |  

While recent data can only be gleaned from Tory-led governments, ETF platform InvestEngine believes that Labour governments can generate better returns for investors – at least according to their data. It has been about 14 years since Labour last held the majority in Parliament. Since… Read More

July 5, 2024 @ 10:06 am By JD Alois  |  

As the Tories lick their wounds after a historic defeat in the polls, we wonder what Labour’s rise will mean for the vital Fintech industry and tech in general. While incoming Prime Minister Keir Starmer has published a hundred-day plan, it is not yet apparent… Read More

July 5, 2024 @ 8:29 am By Omar Faridi  |  

UK Finance, in partnership with Global Counsel, has reportedly “developed a set of briefing papers on the key themes central to the debate around the UK’s capital markets and competitiveness more generally.” These themes are as follows: Risk and reward – risk is key to… Read More

July 5, 2024 @ 8:23 am By Omar Faridi  |  

Following a technical recession in the second half of 2023, the UK economy has shown tentative signs of renewed momentum, “with growth of 0.5% expected this year, and 0.9% in 2025,” according to the latest KPMG Global Economic Outlook. The report finds a number of… Read More

July 4, 2024 @ 5:35 pm By JD Alois  |  

As polls close and everyone expects a landslide win for Labour, the Payments Association in the UK has invited the next Chancellor of the Exchequer to “show leadership” and support the payments sector and Open Banking ambitions. The Payments Association has drafted a letter outlining… Read More

July 3, 2024 @ 3:50 pm By JD Alois  |  

IOTA, a blockchain ecosystem, has funded the I3-Lab at Imperial College London. IOTA has provided £1 million to support the research facility. According to the firm, the college is also providing additional funding. IOTA seeks to advance highly scalable distributed ledger technology (DLT) for Web3… Read More

July 3, 2024 @ 8:56 am By Omar Faridi  |  

Atom bank, which claims to be the UK’s first app-based bank, announced this past week that it has appointed Gareth Jones as its new Chief Risk Officer “subject to regulatory approval. He replaces Chris Sparks, who is retiring after nine years at the bank.” Gareth… Read More