Tagged: uk

April 14, 2024 @ 11:41 pm By Omar Faridi  |  

With summer fast approaching, Lloyds Bank is warning hopeful holidaymakers they could fall victim to a scam when booking a trip. These scams have reportedly “risen 7% over the past year, with people losing £765 on average, with those aged 35 to 44 – often… Read More

April 14, 2024 @ 11:37 pm By Omar Faridi  |  

New data from one of Europe’s largest small business lenders, iwoca, reveals how SMEs are exploring social media influencers as an avenue for marketing. More than two-thirds of SME owners (70%) are “active on social media platforms, and one in eight (13%) have used an… Read More

April 14, 2024 @ 1:17 pm By Omar Faridi  |  

Barclays has reportedly led Funding Xchange’s (FXE) Series B round, which is said to be open to a number of FXE clients. The fundraising is bringing together key investors and will aim to enhance FXE and its ability to drive ecosystem adoption. This reportedly includes… Read More

April 14, 2024 @ 11:07 am By Omar Faridi  |  

Pactio, the digital infrastructure for private markets, has raised $14 million (£11 million) in a Series A round led by EQT Ventures. Private equity industry insiders and tech angels also participated in the oversubscribed round, “including former Stripe Europe CEO Matt Henderson and Volt founder… Read More

April 14, 2024 @ 10:45 am By Omar Faridi  |  

Satago, a Fintech that provides Working Capital solutions, and mmob, the universal API adaptor, announced the launch of a new partnership. This collaboration enables lenders and corporates “to embed Satago’s flexible Invoice Finance and Cash Flow solutions, using mmob’s hyper-efficient integration capabilities.” Designed to take… Read More

April 13, 2024 @ 8:14 pm By Omar Faridi  |  

The CMA has outlined 3 key risks to effective competition on AI Foundation Models and has set out plans for further action in the market. The move from the Competition and Markets Authority (CMA) follows its initial report on AI Foundation Models (FMs) last year…. Read More

April 13, 2024 @ 2:30 pm By Michael Wong  |  

The UK’s Financial Conduct Authority (FCA) has called for the establishment of a new industry body to enhance the functioning of Britain’s “highly concentrated” consumer credit ratings market, which it says is currently not serving consumers well, Reuters has reported. The consumer credit ratings market,… Read More

April 12, 2024 @ 11:24 am By JD Alois  |  

The UK economy barely posted a positive figure in February, according to the Office for National Statistics.  Monthly GDP is said to have grown by 0.1% in February 2024, following growth of 0.3% in January 2024. The consecutive growth indicates that the UK has exited… Read More

April 12, 2024 @ 8:59 am By Omar Faridi  |  

Half of consumers say they have cut non-essential spend in the first quarter of the year and consumers are four times more likely to save than spend, according to new research from KPMG UK. KPMG UK’s Consumer Pulse survey tracks the quarterly confidence and spending… Read More

April 12, 2024 @ 8:50 am By Omar Faridi  |  

Digital bank bunq has reported a net profit of €53 million for 2023 as part of its annual report. bunq also revealed that it acquired additional funding of €29 million from its existing backers. This is reportedly part of Bunq’s efforts for expanding business operations… Read More

April 12, 2024 @ 8:46 am By Omar Faridi  |  

According to new data from Experian, mortgage applications in the first two months of 2024 showed positive signs that consumers are returning to the market, with numbers increasing 20% against the same period last year. The data shows that the market is still some way… Read More

April 11, 2024 @ 9:55 pm By Omar Faridi  |  

Atto, a provider of credit risk solutions using transactional data, is pleased to announce a strategic partnership with FICO (NYSE: FICO), a global analytics software firm, for the UK market. This partnership will enable UK lenders to easily integrate Open Banking data into the credit scoring… Read More

April 11, 2024 @ 9:19 am By JD Alois  |  

Mimo, a UK-based platform that supports global payments, cash flow, and financial management for SMEs and finance professionals, has raised £15.5 million in funding. Northzone led the funding round. Other investors include Cocoa Ventures, Seedcamp, and Upfin VC, with an asset-backed facility arranged by Fost…. Read More

April 11, 2024 @ 9:11 am By JD Alois  |  

Performance Finance Limited has received a £15 million facility from the British Business Bank.  Performance Finance will use the funds to support to smaller businesses to accelerate their growth. Performance Finance provides financing for professionals like opticians, dentists, solicitors, vets, and surgeons. This includes business loans,… Read More

April 10, 2024 @ 11:33 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a report on consumer debt. The FCA states that 7.4 million people are struggling to pay bills and credit card debt (January 2024).  While this is lower than the 10.9 million in January 2023 who were encountering… Read More

April 10, 2024 @ 11:30 am By Rushd Averroes  |  

The world of finance is at a crossroads. With its legacy systems and ingrained practices, the traditional financial system (TradFi) struggles to keep pace with the rapid innovations of decentralised finance. At the same time, decentralised finance (DeFi), while promising increased accessibility and transparency, often… Read More

April 10, 2024 @ 9:25 am By JD Alois  |  

While the number of users benefiting from Open Banking continues to increase worldwide, there is a divergence between the concept of Open Banking and Open Finance – at least according to Salt Edge. Salt Edge is an open banking platform that provides services interested in… Read More

April 10, 2024 @ 8:20 am By Omar Faridi  |  

Lloyds Bank is launching Ready-Made Pension in order to make saving for retirement easier. Just two fifths (42%) of the UK population know “how to contribute more into their pension,” according to new research from Lloyds Bank. The same study also found “that of those… Read More

April 9, 2024 @ 6:22 am By JD Alois  |  

Advocacy group CryptoUK has added a new member – Mercuryo, a payments provider. Mercury enables payments by supporting businesses with both fiat and crypto solutions via a single API integration. Mercuryo has partnered with digital asset firms like Ledger, MetaMask and Trust Wallet. CryptoUK says Mercuryo… Read More

April 8, 2024 @ 11:12 am By Omar Faridi  |  

The Lending Standards Board (LSB) has added a wealth of policy and governance expertise to its Board with the Non-Executive Director appointments of broadcaster Iain Dale, economic authority Paul Johnson CBE and charity sector leader Caron Bradshaw OBE. Iain, Paul and Caron replaced Liz Barclay… Read More