Tagged: united kingdom

August 23, 2023 @ 7:17 am By Omar Faridi  |  

Steve Hulme, CFO at Zopa Bank, has shared an update on their financial performance. Last year was an “exceptionally” strong year for Zopa Bank that reportedly “laid the foundations for their strong profitable growth.” The firm’s management added that as people in the UK continued… Read More

August 22, 2023 @ 5:29 pm By JD Alois  |  

Institutional trading platform DMALINK has surpassed its funding target of £425,000 on Seedrs. UK-based DMALINK aims to service institutions trading in FX and crypto globally. According to the offering page, DMALINK is raising equity capital at a pre-money valuation of £17.3 million. The investment is… Read More

August 22, 2023 @ 2:35 pm By JD Alois  |  

EchoPay and Token.io have partnered to offer “account to account” (A2A) payments for wholesale merchants in the UK. Token.io is an open banking provider for the payments industry. The company reports that it processes payments for millions of merchants worldwide, including HSBC, Mastercard, BNP Paribas,… Read More

August 22, 2023 @ 10:23 am By Omar Faridi  |  

FluidAI, the fintech making tokenized market access more efficient for institutions, trading platforms, and retail investors, has announced a partnership with I-X, Imperial College London’s artificial intelligence (AI) initiative. It marks the “first-known” AI partnership at “a globally renowned university to be partially funded by… Read More

August 22, 2023 @ 8:39 am By Omar Faridi  |  

Cynergy Bank announces that it has secured a £20 million Tier 2 capital facility from British Business Investments. The capital will be deployed “across Cynergy Bank and Cynergy Business Finance.” The new funding from British Business Investments, “a wholly-owned commercial subsidiary of the British Business… Read More

August 22, 2023 @ 7:36 am By JD Alois  |  

Property finance platform LendInvest has added automatic decisions in principle (DiP) in its latest platform update, according to a note from the firm. The goal is to streamline the financing process for residential mortgages further. LendInvest says that the DiP process is applicable for applications… Read More

August 22, 2023 @ 7:12 am By Omar Faridi  |  

It can be beneficial to support new businesses through a dedicated pre-regulated service and operating account, through to a fully licensed bank. This approach can provide cost-effective “access to Faster Payments (FPS) – offering all the advantages of the UK’s faster payments infrastructure to its… Read More

August 21, 2023 @ 9:23 am By Omar Faridi  |  

In an IG Investor Sentiment Survey of c.4500 clients, only 28% of UK clients said ESG (Environmental, Social, Governance) considerations “are important to them when making an investment decision.” This is particularly low “in comparison to 42% of Australian investors and 40% of Japanese investors.”… Read More

August 20, 2023 @ 10:11 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) is setting out their expectations for crypto-asset businesses that need “to comply with a change in money laundering legislation legislated by government in July 2022.” From 1 September 2023, crypto-asset businesses in the UK will be “required to collect,… Read More

August 20, 2023 @ 4:37 pm By Omar Faridi  |  

The Payment Systems Regulator (PSR) has launched two consultations in the lead up “to the implementation of its new authorised push payment (APP) fraud reimbursement requirements. ” In June, the PSR set out its final position on “tackling APP fraud, which will mean the vast… Read More

August 19, 2023 @ 6:55 pm By Omar Faridi  |  

Ecommpay, an international payment service provider and UK and European direct bank card acquirer, now offers local acquiring in the US, enabling UK and EU merchants the ability to expand into North America. Additionally, Ecommpay will offer protection “from fraud-related chargebacks to ensure merchants do… Read More

August 19, 2023 @ 6:52 pm By Omar Faridi  |  

Nottingham Building Society has announced further updates to its mortgage products, designed to support both residential and Buy-To-Let mortgage applicants. The new products, launched this week, “offer advantages for a broad spectrum of borrowers against a volatile economic backdrop.” Amongst the latest offerings is a… Read More

August 18, 2023 @ 1:01 pm By JD Alois  |  

The current cost of living crisis has underlined the need for our financial services industry to innovate and push forward solutions that better serve the consumer – enabling greater access to better products at a lower cost, for everyone. The Fintech sector has been a… Read More

August 18, 2023 @ 9:22 am By JD Alois  |  

The British Business Bank has announced an increase of £75 million to commercial lender DF Capital. This is an addition to an existing ENABLE Guarantee, which will see the facility increased to £250 million. The guarantee may be increased again at some point in the… Read More

August 17, 2023 @ 9:37 am By JD Alois  |  

Open banking provider TrueLayer has appointed Michael Brown as its new Head of E-Commerce, according to a statement from the firm.  TrueLayer said the hire was part of  push into more verticals as open banking adoption grows. Prior to joining the Fintech, Brown was Director… Read More

August 17, 2023 @ 8:19 am By Omar Faridi  |  

PayPal (NASDAQ:PYPL) says it will be halting UK-based crypto sales until next year. Payments firm PayPal recently revealed that it will not be allowing UK clients to purchase cryptocurrencies via its platform from October 2023, as the company works on adhering to new regulatory guidelines for… Read More

August 16, 2023 @ 6:37 pm By JD Alois  |  

As outlined in the Kalifa Review of UK Fintech, the UK Fintech Growth Partners has launched its Growth Stage Fintech Fund. The Kalifa Review declared there was an annual growth stage funding shortfall for UK Fintechs of around £2 billion. A £1 billion fund was… Read More

August 16, 2023 @ 11:36 am By Omar Faridi  |  

SumUp has launched in Australia, its 36th market, as the global fintech continues its global expansion and “rolls out its proprietary hardware and software solutions for Australian businesses.” SumUp was founded in 2012 with “the mission of empowering small businesses and entrepreneurs with affordable and… Read More

August 16, 2023 @ 10:15 am By JD Alois  |  

Payments Fintech GoCardless has partnered with Kolleno, a B2B accounts receivable management and cash collection platform designed to help businesses accelerate cash flow. GoCardless says the integration will help Kolleno customers be proactively accepting payments instead of waiting for payments to arrive. Kolleno will also… Read More

August 15, 2023 @ 10:51 pm By Omar Faridi  |  

From today, TSB is taking applications for fintechs to participate in its third annual TSB Innovation Labs Program – “as the bank and Fintech Scotland encourage a new round of fintech collaboration.” Under the program, winning Fintechs will officially partner “with TSB to offer innovative… Read More