Tagged: uk

June 4, 2024 @ 7:12 am By Omar Faridi  |  

UK’s digital bank Monzo has released its 2024 financial results. Monzo announced its first full-year pre-tax profit. The Fintech firm also revealed that it’s currently in the early phases of expanding into the wider European markets through a new division in Ireland. The update from… Read More

June 4, 2024 @ 6:53 am By Omar Faridi  |  

The UK’s Payment Systems Regulator (PSR) has announced recently that David Geale has been appointed Interim Managing Director of the PSR with effect from 10 June. The interim appointment will be for a period of nine months. David joins the PSR from the FCA where… Read More

June 3, 2024 @ 9:04 am By Omar Faridi  |  

The Bank of London has announced a strategic partnership with payments specialists, allpay Limited, to simplify and expedite payments for everyone, whether they have a bank account or not, through easily manageable prepaid cards. As part of the multi-year strategic partnership, the two companies “will… Read More

June 1, 2024 @ 8:17 pm By Omar Faridi  |  

UK Finance has recently released its financial services manifesto, outlining key priorities the next government should focus on. David Postings, Chief Executive of UK Finance, said: “The UK’s financial services sector is a global success story and one any future government should seek to partner… Read More

June 1, 2024 @ 12:22 pm By Omar Faridi  |  

Saxo, which claims to be among the leaders in online trading and investment, recently announces the appointment of Andrew Bresler as CEO of Saxo UK, effective June 3. He takes over from interim CEO Simon Camilleri. Andrew reportedly brings a wealth of experience “within the… Read More

June 1, 2024 @ 11:33 am By Omar Faridi  |  

Guavapay, a global fintech company has announced its partnership with Visa (NYSE: V), a digital payments provider, to launch an impactful Out Of Home (OOH) campaign across London. This collaboration aims to enhance “awareness of MyGuava multicurrency Visa Card for users of MyGuava App and MyGuava… Read More

May 31, 2024 @ 9:27 am By Omar Faridi  |  

The UK reportedly witnessed the announcement of 389 venture capital (VC) funding deals worth $3.6 billion from January to April 2024. This is a year-on-year (YoY) decline “of 21.4% in terms of deal volume and 32.8% in terms of value,” according to GlobalData, a data… Read More

May 31, 2024 @ 9:23 am By Omar Faridi  |  

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, and real estate funding specialist, ASK Partners have provided a £19.5m co-loan to independent hotel management business, Capilon Hotels Group. Capilon specializes in property investment, development and management of various sectors and asset classes, with “a particular… Read More

May 31, 2024 @ 9:21 am By Omar Faridi  |  

The latest Lloyds Bank Business Barometer has found that overall business confidence reached its highest level for over eight years. Confidence increased by 8 points – up to 50% – “a level last exceeded in November 2015.” Survey data suggests the monthly increase “is largely… Read More

May 30, 2024 @ 11:48 am By JD Alois  |  

SEC Commissioner Hester Peirce has publicly shared a comment on a consultation in the UK. Launched last April, the proposal is for a Digital Securities Sandbox (DSS) initiated by the UK Financial Conduct Authority and the Bank of England. The deadline for feedback from interested… Read More

May 30, 2024 @ 8:22 am By Omar Faridi  |  

NatWest has extended access to Business Savings from Mastercard to business debit card customers. Business Savings is a merchant discount program “provided by Mastercard which gives small business customers access to merchant offers when paying with an eligible Business Mastercard at merchants participating in the… Read More

May 30, 2024 @ 8:20 am By Omar Faridi  |  

‍Three in ten SME finance professionals (28%) report that the most requested loan amount at the start of 2024 was over £100,000, 56% higher than the same period last year, according to iwoca’s Q1 2024 SME Expert Index. The new research, conducted with SME finance… Read More

May 29, 2024 @ 11:26 am By JD Alois  |  

Digital asset firm Uphold is now offering a white-label service for issuers and other platforms to leverage digital assets. The crypto exchange is said to serve “millions” of customers in over 14 different countries. The Uphold-as-a-Service is said to offer services beyond digital asset offerings,… Read More

May 29, 2024 @ 8:46 am By Omar Faridi  |  

Karim Haji, Global and UK Head of Financial Services at KPMG, comments on today’s March Money and Credit statistical release from the Bank of England. Karim noted: “A rise in consumer borrowing in March signals that many stretched households continue to battle the cost of… Read More

May 29, 2024 @ 8:20 am By Omar Faridi  |  

The British Business Bank has agreed an £100m increase to its existing ENABLE Guarantee transaction with leading fintech Oxbury Bank – a UK bank with a singular focus on farmers, food production and the rural economy. The original £100m transaction, announced in November 2023, and… Read More

May 28, 2024 @ 7:29 pm By JD Alois  |  

Intelligent Money Ltd., a SIPP provider, has entered administration. The UK Financial Conduct Authority (FCA) posted today that the authorized firm entered administration after the Financial Ombudsman Service upheld the final decision pertaining to the platform’s operations. Simultaneously, the company revealed that Quai Administration Services… Read More

May 28, 2024 @ 10:54 am By JD Alois  |  

Swiipr, a “travel Paytech” firm, has announced raising £6 million in a Series A funding round led by Octopus Ventures. TX Ventures and Solano Partners also participated in the funding round. Swiipr aims to provide a service for airlines and their disruption payments systems. The… Read More

May 28, 2024 @ 1:22 am By Omar Faridi  |  

UK Finance recently released their latest fraud report. While sharing insights on this key update, the team at Lending Standards Board has provided their perspective on the findings. For background, the LSB is responsible for overseeing the CRM Code, which has reportedly been the “only… Read More

May 27, 2024 @ 11:03 pm By Omar Faridi  |  

Pension savers are strongly backing shareholder calls for Shell to further reduce its greenhouse gas emissions by 2030, according to an update from PensionBee. A survey of pension savers by PensionBee revealed “that almost 60% of respondents – equal to nearly 18.5 million pensions savers… Read More

May 27, 2024 @ 10:22 pm By Omar Faridi  |  

Tuum, the core banking provider, and DDCAP Group have partnered to offer a pre-integrated Fintech solution to enhance the end-to-end trade execution and processing of Sharia-compliant transactions. From the partnership, DDCAP and Tuum clients “will gain the ability to migrate legacy, automated trade execution and… Read More