Tagged: united kingdom

July 23, 2024 @ 4:02 pm By JD Alois  |  

Globacap CEO and founder Myles Milston has issued a statement hammering London’s smaller cap exchange, AIM [Alternative Investment Market]. AIM was set up to assist smaller firms in listing shares. Recently, the UK Financial Conduct Authority (FCA) posted new rules designed to boost public listings in the… Read More

July 23, 2024 @ 3:16 pm By JD Alois  |  

Plum, a “smart money app,” has raised £16 million in Series B funding, according to a note from the company. Pum said the capital infusion follows a period of solid growth. Assets under management have topped £1 billion, tripling in the past 12 months. Plum… Read More

July 23, 2024 @ 8:59 am By Omar Faridi  |  

PensionBee Group plc announces the launch of its business in the United States, the world’s largest Defined Contribution pension market, “representing approximately 80% of the global total and $22.5 trillion in assets.” The company’s wholly-owned US subsidiary, PensionBee Inc, is “now registered with the US… Read More

July 22, 2024 @ 8:54 am By Omar Faridi  |  

Bondsmith, which says it is empowering clients to unlock the full potential of cash with innovative financial solutions via trusted partnerships,  announced that they have joined forces with abrdn in order to launch a fully integrated cash savings solution, providing their clients with even greater… Read More

July 22, 2024 @ 8:53 am By Omar Faridi  |  

Midlands Engine Investment Fund II has announced its first major equity deal. Aircraft robotics firm True Position Robotics has raised £1 million to support business expansion. The British Business Bank has announced the first deal from the Midlands Engine Investment Fund II “with a £1… Read More

July 21, 2024 @ 11:38 pm By Tony Zerucha  |  

Executives from two Fintech companies believe this week’s system outages could hurt SMEs the most and highlight the need for additional resiliency in an increasingly connected world. The past seven days began with an outage at CHAPS. While it was temporary, it significantly affected European… Read More

July 19, 2024 @ 12:50 pm By JD Alois  |  

Yesterday, it was reported that CHAPS, or the Clearing House Automated Payment System, the system that enables real-time gross settlement payments in the United Kingdom, had gone offline, impacting some “high-value” payments and transfers. The Bank of Engaland did not reveal the cause of the outage,… Read More

July 19, 2024 @ 12:10 pm By Omar Faridi  |  

The Bank of England has announced the appointment of members of the Enforcement Decision Making Committee. Following an external recruitment process and consultation, the Bank of England (Bank) has appointed three new members “to its Enforcement Decision Making Committee (EDMC) taking the total to nine.”… Read More

July 19, 2024 @ 6:12 am By Omar Faridi  |  

David Postings, Chief Executive of UK Finance, comments on the 2024 King’s Speech. David Postings from UK Finance noted: “We welcome the focus in the King’s Speech on economic stability and growth, something the financial services sector will play a key role in delivering. The… Read More

July 18, 2024 @ 11:22 am By JD Alois  |  

The Bank of England is reporting issues with CHAPS or Clearing House Automated Payment System, the platform that enables real-time gross settlement payments in the United Kingdom. The Bank stated that the issues impacted some “high-value and time-sensitive payments, including some house purchases.” The Bank… Read More

July 18, 2024 @ 9:06 am By Omar Faridi  |  

Smart Pension, one of the UK’s workplace pension providers, announces that it has signed a commercial agreement with STM Group, to take on members of the Options Workplace Pension Trust (OWPT) to the Smart Pension Master Trust through a bulk transfer. The transfer, subject to… Read More

July 17, 2024 @ 8:12 am By Omar Faridi  |  

Eight out of 14 UK sectors saw output grow in June, according to latest data from the Lloyds Bank UK Sector Tracker. While this was three fewer than in May (11), when the Tracker reported “a 15-month high when the economy moved back into growth… Read More

July 17, 2024 @ 7:51 am By Omar Faridi  |  

Lemonade (NYSE: LMND), the digital insurance company powered by AI and social impact, today announced the launch of Buildings and Contents insurance in the United Kingdom. Expanding the company’s home insurance offerings, homeowners throughout the UK can now purchase “extensive coverage for their home and… Read More

July 17, 2024 @ 7:45 am By Omar Faridi  |  

UK’s Monument Bank is pleased to announce that they have reached £3 billion in client deposits this morning, which is £1 billion more than just over ten weeks ago. Monument Bank claims that Q3 2024 is now “off to a fantastic start.” They further noted… Read More

July 16, 2024 @ 11:51 am By JD Alois  |  

Douglas Grant, Managing Director at Conister Bank, says the new Labour government must incentivize investors to support UK SMEs. The UK already has several programs in place to provide significant tax incentives to support early-stage and private firms. These include the popular EIS/SEIS program and… Read More

July 16, 2024 @ 11:14 am By JD Alois  |  

Dopay, a Fintech providing banking to unbanked and underbanked individuals, is reporting raising $13.5 million in a Series A extension funding. The Series A extension funding was led by Argentem Creek Partners with participation from existing investors. Dopay states this tops up a prior $18… Read More

July 16, 2024 @ 8:54 am By JD Alois  |  

Following its rebranding from Seedrs to Republic Europe, the online investment platform is reporting that it generated more than over £24.5 million in activity in June. The above number incorporates primary offerings, secondary trading, funds as well as private deal rooms which typically involve more… Read More

July 15, 2024 @ 10:38 am By JD Alois  |  

The UK Financial Conduct Authority (FCA), along with the Payments Systems Regulator (PSR), are seeking feedback on the rise and use of digital wallets. Today, digital wallets are ubiquitous. From smartphone-based applications to hybrid crypto wallets, the use of physical cash is on the decline. Regulators… Read More

July 15, 2024 @ 7:55 am By Omar Faridi  |  

Assetz Capital, a funder in the SME commercial property and residential development markets, is pleased to announce that Mark Roberts has joined the expanding business to lead the growth of their development finance arm. While Mark’s role is national, his remit will also “focus on… Read More

July 15, 2024 @ 7:53 am By Omar Faridi  |  

Quantexa, the global enabler of Decision Intelligence (DI) solutions for the public and private sectors announced that its Decision Intelligence Platform will be adopted by the University of Liverpool’s Civic Health Innovation Labs (CHIL) and Mersey Care NHS Foundation Trust, one of the largest trusts… Read More