Tagged: united kingdom

May 21, 2021 @ 10:12 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) will be postponing the implementation of strong customer authentication (SCA) rules by another 6 months in order to minimize disruption for individual consumers and merchants. First scheduled for release in September 2019, the SCA guidelines – which require a… Read More

May 21, 2021 @ 9:04 am By JD Alois  |  

Earlier this week, the UK Financial Conduct Authority issued a “Dear Chief Executive” letter to payment and e-money firms warning about adequate disclosure when it comes to affiliated risk and consumer money. Some Fintechs provide similar services as banks while not being fully regulated as… Read More

May 21, 2021 @ 8:18 am By Samantha Hurst  |  

  UK-based digital banking group Starling Bank announced this week it secured a £50 million investment from Goldman Sachs Growth Equity. According to Starling Bank, the investment is an extension of the oversubscribed £272 million Series D funding round announced in March 2021, which valued it in… Read More

May 21, 2021 @ 7:56 am By Omar Faridi  |  

Revolut Business revealed on Friday (May 21, 2021) that it’s introducing currency forward contracts (FX Forwards) in the United Kingdom. Revolut Business’ FX Forwards will allow firms of any size – from large corporates to single-person businesses – to set future exchange rates via an… Read More

May 20, 2021 @ 1:53 pm By Samantha Hurst  |  

Curve, a banking platform that consolidates multiple cards and accounts into one smart card and even smarter app, announced on Thursday its upcoming equity crowdfunding campaign is set to go live on Crowdcube with 35,000 sign-ups (21,000 were signed up within the first 24-hours). As previously reported, Curve is… Read More

May 20, 2021 @ 7:36 am By Omar Faridi  |  

New Zealand’s Buy Now, Pay Later (BNPL) Fintech Laybuy has acquired A$35m in capital in order to expand business operations into the UK markets. Laybuy‘s latest investment round has come as part of a private placement and will be used to make additional investments into… Read More

May 20, 2021 @ 7:35 am By Samantha Hurst  |  

  Ignition, an Australia-based digital financial advising platform, announced this week it has launched its services in the UK.  Founded in 2014, Ignition describes itself as a global advisor technology specialist for financial institutions seeking to help more customers have access to financial advise in… Read More

May 20, 2021 @ 7:20 am By Omar Faridi  |  

ComplyAdvantage, an AI-enhanced financial crime detection firm, has  extended its Series C funding round to $70 million, with an additional $20 million from Goldman Sachs. ComplyAdvantage‘s  investment has reportedly come on top of the firm’s oversubscribed Series C round that was announced in July of… Read More

May 19, 2021 @ 11:17 pm By JD Alois  |  

The Financial Ombudsman Service (FOS) in the UK has long intermediated disagreements within the financial services sector including investment crowdfunding. A recent decision by the FOS has caused some concern amongst industry insiders as it may challenge the entire crowdfunding model based on the liability… Read More

May 19, 2021 @ 9:03 am By JD Alois  |  

WiseAlpha, a corporate bond trading platform providing access to smaller investors, says it has added green bonds to its marketplace for the first time. The initial bonds are from AMP Clean Energy and Canary Wharf Group. The company said its decision to list green bonds… Read More

May 19, 2021 @ 8:23 am By JD Alois  |  

Accelerated Payments says it is now working with banks to provide access to capital for SMEs. Accelerated Payments is an invoice financing platform, including cross-border transfers, that speeds up the payment process for a fee. The company states that a decline in bank lending has… Read More

May 19, 2021 @ 7:45 am By Omar Faridi  |  

James Butterfill, Investment Strategist at London-based CoinShares, a digital asset manager focused on expanding access to the cryptocurrency ecosystem while serving as a “trusted partner” for its clients, notes in a blog post published on Tuesday (May 18) that for the week ending 17 May… Read More

May 18, 2021 @ 11:47 pm By Omar Faridi  |  

Over 25% of UK-based charities have seen their income levels decline in 2020 as the impact of the COVID-19 outbreak and related lockdown measures have negatively affected the nation’s businesses and individual consumers. Almost a third of UK organizations are now concerned regarding their future… Read More

May 18, 2021 @ 10:17 pm By Omar Faridi  |  

UK-based consumer group Which? has asked local banking institutions and building societies to release figures on the number or percentage of clients they refund for authorized push payment (APP) fraud. APP scams have been increasing during the Coronavirus crisis, with losses reaching almost half a… Read More

May 18, 2021 @ 9:37 pm By Omar Faridi  |  

SmartSearch, an anti-money laundering (AML) solution provider, has reportedly entered the non-regulated market with the launch of a product that’s a part of its business growth strategy. The Ilkley, West Yorkshire-based Regtech firm reports that it recorded its most successful year to date in 2020…. Read More

May 18, 2021 @ 9:29 pm By JD Alois  |  

In a recent speech delivered by the Deputy Governor, Financial Stability, of the Bank of England, Sir Jon Cunliffe, the public official appeared to commit to the UK creating a central bank digital currency (CBDC). The Bank of England, like many other central banks, is… Read More

May 18, 2021 @ 8:09 pm By Omar Faridi  |  

Buy Now, Pay Later (BNPL) services are becoming increasingly popular across the globe. The BNPL market is valued at around £2.7 billion in the United Kingdom. Although postponing payments might appear to be useful for security and in many instances provides other benefits depending on… Read More

May 18, 2021 @ 4:07 pm By Samantha Hurst  |  

    ikigai, a banking and Wealthtech company, has successfully secured nearly 1.7 through its equity crowdfunding campaign on Crowdcube. The funding round, which originally sought to raise £1.2 million has attracted more than 1260 Crowdcube investors so far. As previously reported, ikigai is on a… Read More

May 18, 2021 @ 9:35 am By JD Alois  |  

Judith Hartley, CEO of British Patient Capital – a subsidiary of the British Business Bank, has commented on the lack of UK institutional capital going into venture capital. British Patient Capital manages a £2.5 billion investment program that seeks to facilitate £5 billion of institutional… Read More

May 18, 2021 @ 7:37 am By Omar Faridi  |  

Legal technology (Legaltech) company Exizent has teamed up with Experian in order to automate the asset discovery process that’s involved in probate. Through their partnership, Exizent and Experian aim to pave the way for future institution connectivity, with the goal of making routine processes a… Read More