Tagged: united kingdom

May 14, 2024 @ 8:31 am By Omar Faridi  |  

UK Finance releases its latest mortgage arrears and possessions data for Q1 2024, while highlighting continuing lender support for customers The number of homeowner mortgages in arrears “rose slightly (three per cent) in Q1 2024 compared to the previous quarter,” in line with UK Finance’s… Read More

May 13, 2024 @ 8:36 am By Omar Faridi  |  

Rippling is now available for companies headquartered in the United Kingdom. As the all-in-one workforce platform with built-in payroll, HRIS, benefits and more, Rippling offers access “to over a dozen products that support your UK and global employees.” Today, most businesses in the UK utilize… Read More

May 12, 2024 @ 11:12 pm By Omar Faridi  |  

The growth of Open Banking in the United Kingdom has continued to accelerate. The latest data from Open Banking Limited, the independent entity established by the Competition and Markets Authority (CMA) to oversee its implementation, shows “more than 9 million active users and 14.45m payments… Read More

May 12, 2024 @ 11:04 pm By Omar Faridi  |  

iwoca announces a new £270m package of debt funding, taking total gross investment in the company to over £1bn since it was founded in 2012. iwoca has received £150m (€175m) in debt financing commitments from Citibank and Insight Investment to “support the company’s growth in… Read More

May 11, 2024 @ 8:48 am By Omar Faridi  |  

April’s KPMG and REC, UK Report on Jobs survey, compiled by S&P Global, signaled a further decline in permanent placements made by UK recruitment consultants. There were reports of a heightened caution “amongst clients, with firms reportedly holding back on recruitment.” However, the overall fall… Read More

May 9, 2024 @ 10:38 am By Omar Faridi  |  

The Payment Systems Regulator (PSR) is proposing to direct banks and other payment firms participating in CHAPS to reimburse their customers who have been victims of authorised push payment (APP) scams. The PSR’s direction will underpin the Bank of England’s new CHAPS reimbursement rules. In… Read More

May 8, 2024 @ 10:24 am By JD Alois  |  

Singapore and the United Kingdom have enhanced their existing relationship in regard to Fintech development and utilization. The UK is the top western Fintech hub and Singapore represents the most robust Fintech center in Asia. The initiative was led by HM Treasury and the Monetary… Read More

May 8, 2024 @ 9:28 am By Omar Faridi  |  

Corlytics, a regulatory intelligence and policy compliance tech provider, has acquired a digital Regtech platform from Deloitte UK. The marriage of the two platforms is described as transformational, “completing the cycle of regulatory assessment and implementation.” The announcement closely “follows Verdane’s majority stake investment last… Read More

May 8, 2024 @ 9:18 am By Omar Faridi  |  

Allica Bank – the digital challenger bank built especially for established SMEs – has announced the launch of a new partnerships team, specifically focused on growing its relationships with accountancy firms across the UK. Allica, the business bank, sees accountants as “a vital connection to… Read More

May 7, 2024 @ 11:23 am By JD Alois  |  

British Business Investments says it has committed to £50 million in a private credit co-investment along with DunPort Capital Management. The funds will help create the co-investment vehicle, Alder Corporate Credit DAC. The funds will be used to support smaller firms in the UK with… Read More

May 7, 2024 @ 8:42 am By Omar Faridi  |  

Mach Recruitment, a Leeds based specialist recruitment business has agreed a £45m invoice finance facility with Metro Bank. As a specialist recruitment business working in the ecommerce and food sectors, Mach Recruitment will use the financing “to support its acquisition ambitions and continued desire to… Read More

May 7, 2024 @ 8:40 am By Omar Faridi  |  

Revolut has launched Revolut X, which is described as a standalone / independent cryptocurrency trading platform that’s offered to the Fintech firm’s UK retail clients. Revolut launched in the United Kingdom, providing fund transfers back in 2015 and started enabling users to purchase, hold and… Read More

May 6, 2024 @ 7:50 am By Omar Faridi  |  

Pension savers wondering where their investments go while they build-up their pension pots may be surprised to learn that millions of pounds “are funding some of the world’s largest technology corporations,” the PensionBee team notes. In a recent analysis undertaken by online pension provider PensionBee,… Read More

May 6, 2024 @ 7:47 am By Omar Faridi  |  

Adyen (AMS: ADYEN), the global financial technology platform of choice for leading businesses, has partnered with Tide, the UK’s business financial platform, to offer small and medium-sized businesses (SMEs) Tide business accounts, first in Germany before potentially expanding further into Europe. Following its announcement of strategic… Read More

May 4, 2024 @ 8:42 am By Omar Faridi  |  

ColCap Financial UK Limited and Molo Tech Limited have completed their first securitization, ‘Molossus BTL 2024-1’. The securitization totals £300 million of prime UK buy-to-let mortgage loans “in England and Wales.” It is a Residential Mortgage-Backed Security (RMBS) transaction. ColCap is a privately-owned, Australian non-bank… Read More

May 3, 2024 @ 8:31 am By Omar Faridi  |  

Zopa Bank, which began operations as a P2P lending platform but has evolved into a digital bank, has reportedly surpassed £4 billion in customer deposits. Zopa Bank says it achieved this milestone in under 4 years since acquiring its banking license. It has helped that… Read More

May 2, 2024 @ 11:48 am By JD Alois  |  

Haatch EIS Fund is launching on Seedrs making the fund available to smaller investors. Investment in this EIS Fund is expected to be across 4-6 companies. Haatch reports that its first EIS Fund is valued at over 320%, and the fourth EIS Fund is valued… Read More

May 2, 2024 @ 11:27 am By Omar Faridi  |  

London Stock Exchange Group plc (LSEG) has shared its Q1 2024 Trading Update. LSEG is reporting a good start to the year, “driven by solid performance across the business.” David Schwimmer, CEO said: “We have started the year well, delivering another quarter of solid growth… Read More

May 2, 2024 @ 10:50 am By JD Alois  |  

XLink has partnered with Cobo and Coincover to reduce risk in the digital asset sector. XLink, a subsidiary of ALEX, is a DeFi platform on Bitcoin. According to a statement from the firm, approximately $336 million in crypto was lost to  scams in the first… Read More

May 2, 2024 @ 3:16 am By Omar Faridi  |  

Nova Credit’s second UK partnership provides one of the country’s top 10 building societies with access to foreign credit histories to get more mortgage finance into the hands of skilled and professional new-to-country UK applicants. In line with their UK expansion strategy, we’re excited to… Read More