Tagged: united kingdom

January 29, 2024 @ 10:11 pm By Omar Faridi  |  

The Bank of England and HM Treasury have published their response to the consultation on a digital pound that was launched in February 2023. No final decision has been made “to pursue a digital pound – also called a central bank digital currency (CBDC).” Work… Read More

January 29, 2024 @ 3:14 pm By JD Alois  |  

NatWest is planning to close 30 more bank branches in 2024, according to a report by GBNews. This most recent revelation of branch closures just adds to the dozens of closures that have taken place in recent months. The report lists the locations of the… Read More

January 29, 2024 @ 10:56 am By JD Alois  |  

Two open banking providers have announced a strategic partnership. Clowd9 and Ozone API will now work together globally. Open API, as it names alludes to, provides open banking services to its clients. Clowd9 is a payments platform that will now be incorporated into the Ozone… Read More

January 29, 2024 @ 8:15 am By Omar Faridi  |  

Mid-market private equity investment activity in the UK declined by 10% in 2023, as challenging macroeconomic conditions presented few glimmers of hope for recovery, according to KPMG UK’s Mid-Market Private Equity report. The firm’s most recent M&A study “has revealed that 675 mid-market transactions were… Read More

January 29, 2024 @ 7:25 am By Omar Faridi  |  

The number of enforcement actions issued to global financial institutions in 2023 “reached staggering levels that have rarely been seen in the US,” according to SteelEye’s Annual Fine Tracker. SteelEye analyzed financial penalties issued “by the US Securities and Exchange Commission (SEC) and Commodity Futures… Read More

January 28, 2024 @ 7:05 pm By Omar Faridi  |  

Elwood Technologies LLP, a software-as-a-service (SaaS) platform that provides institutional-grade access to digital asset exchanges and liquidity venues, announced it has been authorized as a service company by the UK Financial Conduct Authority (FCA). This authorization applies to Elwood’s execution management system (EMS) in “relation… Read More

January 26, 2024 @ 11:26 am By JD Alois  |  

ieDigital is reporting that it has acquired ABAKA as part of a strategy to provide AI-powered Fintech to credit unions in the US. Typically, financial services firms like credit unions or smaller banks do not have the capacity to develop Fintech in house. Thus they… Read More

January 26, 2024 @ 11:00 am By JD Alois  |  

Following the news that they are cutting employee headcount in Europe, Seedrs has promoted several executives while revealing the departure of its CEO. According to a blog post authored by Seedrs founder and Executive Chairman Jeff Lynn – John Lake and Joel Ippoliti have leveled up within… Read More

January 26, 2024 @ 10:16 am By JD Alois  |  

UK-based AltFi, a digital news publication covering financial technology, has announced it will be shutting down. Launched ten years ago just as Fintech was emerging as a hot sector of financial services, AltFi was known for its coverage of the UK market and annual events…. Read More

January 26, 2024 @ 8:29 am By Omar Faridi  |  

UK neobank Science Card collaborates with UCL Mechanical Engineering to generate research funding for neurodegenerative diseases. Science Card, the home of Britain’s e-money current accounts dedicated to accelerating science and innovation, has announced the launch on its platform of a research project on neurodegenerative diseases,… Read More

January 25, 2024 @ 10:43 am By JD Alois  |  

The British Business Bank has published an updated list of firms in which it holds equity. According to the bank, there are 44 additional companies now on the list bringing the total to 696 individual firms – as of December 31, 2023. The shares were… Read More

January 25, 2024 @ 10:22 am By JD Alois  |  

CapitalRise, an online property investment platform, is reporting that it has returned over £159 million to investors since 2016. CapitalRise focuses on superprime property investments in the UK – typically central London. The £150 million hurdle was topped following a £9 million senior bridge loan… Read More

January 25, 2024 @ 9:20 am By JD Alois  |  

Digital bank Zopa and ClearScore report they have surpassed 10 million consumer actions that aim to boost the financial resilience of UK consumers as part of the 2025 Fintech Pledge. The coalition also hit 50 partners with the addition of SalesForc. The Fintech Pledge had… Read More

January 25, 2024 @ 6:55 am By Omar Faridi  |  

Experian has shared an important update which reveals that UK consumers may switch and save £672 annually as lower interest credit returns in 2024. According to a blog post by Experian, savvy Brits are already “taking advantage with searches for balance transfer credit cards up… Read More

January 24, 2024 @ 10:23 pm By JD Alois  |  

WealthKernel has raised £6 million in a Series A funding round, according to the company. Details on the investment were not disclosed. The funding round was led by ETFS Capital with the participation of XTX Ventures. Karan Shanmugarajah, CEO of WealthKernel, said the funding came… Read More

January 24, 2024 @ 10:10 am By Omar Faridi  |  

Plannix, a personal finance hub that helps with wealth tracking, portfolio management, and financial planning, teams up with Salt Edge, a key player focused on offering open banking solutions, to enable users from Italy and beyond “to connect and view all their bank accounts in… Read More

January 24, 2024 @ 8:50 am By Omar Faridi  |  

Starling Bank has created a new brand platform with a new positioning, strategy, and ad creative developed to “mark the beginning of an ambitious year of growth for the bank.” ‘The Bank Built for You’ platform celebrates “how banking is about more than just money,… Read More

January 23, 2024 @ 11:48 am By JD Alois  |  

  Seedrs, part of the US-based Republic, is reportedly restructuring and slashing 15% of its employees operating in Europe. Seedrs was acquired by Republic in 2021 in a deal valued at $100 million. The deal closed the following year. The combined operation is one of… Read More

January 23, 2024 @ 11:12 am By Omar Faridi  |  

Perenna, which is building an innovative digital mortgage bank that will aim to enhance the UK mortgage market, recently revealed that it has received UK Government grant funding in order to “accelerate decarbonization of UK housing stock.” Perenna says that for decades, consumers in the… Read More

January 23, 2024 @ 7:11 am By Omar Faridi  |  

Qover, an insurtech driven by a vision of creating a global safety net through insurance – announces the launch of its innovative motor insurance solution in the United Kingdom, which enables car manufacturers to “provide digital insurance programs across Europe.” In line with Qover‘s goal… Read More