Tagged: united kingdom

July 21, 2022 @ 8:18 am By Omar Faridi  |  

Post-Brexit, FX brokers are losing business and money because they’re “not permitted to service EU-based clients,” the team at Currencycloud notes in a blog post. And when they want to expand to reach these markets, the cost and time it takes to seek regulation is… Read More

July 20, 2022 @ 6:48 pm By Omar Faridi  |  

Funding Circle, which claims to be the United Kingdom’s largest small business loan platform, recently announced the appointment of Bruno Tavares as VP of Engineering. Bruno has “a strong background in technology, built on more than twenty years of industry experience.” He has “a clear… Read More

July 20, 2022 @ 4:22 pm By JD Alois  |  

Today, the Financial Services and Markets Bill was introduced to Parliament in the UK. The legislation will replace “hundreds of pieces of EU retained law” as the UK moves beyond the oversight in Brussels. The aim of the bill is to establish a “coherent, agile… Read More

July 20, 2022 @ 9:41 am By JD Alois  |  

Wise, a global transfers, payments and stealth bank, has reported its Q1 2022 performance. According to the company, it facilitated over £24 billion in transactions during the quarter increasing 49% versus Q1 year prior. In comparison to Q4 2021, Wise delivered a 14% increase (£21.4… Read More

July 20, 2022 @ 9:04 am By JD Alois  |  

Today, the UK government has announced that the Recovery Loan Scheme (RLS), launched in April 2021 to help businesses counter the COVID crippled economy, will be extended for a further two years. Originally set to end last December, during the Autumn Budget the government extended… Read More

July 20, 2022 @ 12:57 am By Omar Faridi  |  

Lumio, which is focused on building a “hyper-personalized” finance app for people to grow their money on autopilot, has secured 155% (£311,594) of its £200,000 target via Crowdcube from 457 investors (at the time of writing) with 7 days left in the sale. Lumio reports… Read More

July 19, 2022 @ 10:54 pm By Omar Faridi  |  

The UK Government is currently dealing with a political crisis with over 50 parliament members resigned from the government “in protest” of Prime Minister Boris Johnson’s leadership, the Robo.cash team recently noted. Many events, like the Chris Pincher affair, raising taxes amid inflation, the “partygate”… Read More

July 19, 2022 @ 5:53 pm By JD Alois  |  

Starling Bank, a leading digital-only bank in the UK, has abandoned its pursuit of a banking license in Ireland and altered its  European expansion plans. The revelation was first reported by SkyNews that disclosed Starling might alternatively purchase a European bank instead of acquiring a de… Read More

July 19, 2022 @ 11:15 am By Omar Faridi  |  

After its first monthly operating profit in Q1 FY22, Atom Bank has “delivered three further consecutive quarters of operating profit.” Underlying operating loss “narrowed to £2m – a £34m improvement over the previous year.” Income grew “by over 200%, with costs increasing by just 6%,… Read More

July 19, 2022 @ 8:09 am By Omar Faridi  |  

Creditspring, which is on a mission to make “emergency” borrowing simpler and safer, has raised £8,056,088 or over 100% of its £8,034,420 target from 118 investors (at the time of writing) via Seedrs through its crowdfunding campaign (with 26 days left in the sale). Located… Read More

July 18, 2022 @ 11:37 pm By Omar Faridi  |  

Malaysia-based digital insurance firm VSure.life recently revealed that it’s expanding operations into the UK in order to make it more affordable for SMBs to access insurance. VSure will be working with local service provider McGill and Partners, a boutique re-insurance broker focused on developing bespoke,… Read More

July 18, 2022 @ 12:07 pm By JD Alois  |  

The UK government has issued a proposal to provide guidance to fast-growing artificial intelligence (AI) technology. The proposal will impact financial services as well as other industries. The government has also published an AI Action Plan with a mission to “maintain the UK’s position as a… Read More

July 18, 2022 @ 9:34 am By Omar Faridi  |  

In a world where everything is available on demand, being paid once every month is “an increasingly outdated way of doing things for many,” according to an update from Fintech firm Modulr. Leveraging the “unique” pay link between employer and employee to empower workers to… Read More

July 17, 2022 @ 11:15 pm By Omar Faridi  |  

New research from Bank of London and The Middle East (BLME) reveals pandemic restrictions had “little impact” on real estate investment from Gulf Corporation Council (GCC) countries into the UK. Based on in-depth interviews with experts from real estate services companies holding more than £60… Read More

July 17, 2022 @ 10:23 pm By JD Alois  |  

SquareBook, a digital auction platform for equity capital raising, is aiming to raise £300,000 on Seedrs. According to the offering page, SquareBook is offering equity at a pre-money valuation of £24.9 million.  The security offering is EIS qualified and approved for the Seedrs Secondary Market…. Read More

July 17, 2022 @ 2:50 pm By Omar Faridi  |  

ESG Book, which claims to be a global leader in sustainability data and technology, recently announced that Leon Saunders Calvert will join as its new Chief Product Officer, “effective in October 2022.” He will lead the expansion of ESG Book’s product suite, and “drive the… Read More

July 17, 2022 @ 1:34 pm By Omar Faridi  |  

Revolut, the global financial super app, has surpassed 20 million retail customers worldwide, and is now “processing over 250 million transactions a month.” Both achievements come as Revolut “celebrates its seventh anniversary.” Revolut is continuing “to expand its global workforce, topping 5,000 employees globally.” Over… Read More

July 16, 2022 @ 10:29 am By Omar Faridi  |  

CIBC Innovation Banking recently announced £40 million of growth financing for London-based Smart, a retirement tech provider. Smart will use the capital “to expand its market growth, accelerate the launch of strategic products, and undertake acquisitions.” Smart launched in 2015 with the goal of “making… Read More

July 15, 2022 @ 11:46 am By Omar Faridi  |  

ClearBank, the enabler of secure accounts, real-time clearing and embedded banking for financial institutions, announced that it has been selected by Kroo “to provide access to all UK payment schemes as well as accounts for its operational funds.” Kroo recently “secured a full UK banking… Read More

July 15, 2022 @ 9:46 am By Omar Faridi  |  

TIFIN, a Fintech platform using artificial intelligence (AI) and investment-driven personalization to shape the future of investor experiences, announced its initial launch into international markets through the acquisition on SharingAlpha, a community of over 15,000 professional fund investors and analysts “located throughout the world, but… Read More