Tagged: united kingdom

January 8, 2024 @ 9:38 am By Omar Faridi  |  

The property industry has reacted to the latest mortgage approval data from the Bank of England. The latest figures show that mortgage approvals for November 2023 sit “at 50,067, up from 47,888 in October.” According to an update shared with CI, this marks “a YoY… Read More

January 8, 2024 @ 8:21 am By Tony Zerucha  |  

The United Kingdom’s Financial Conduct Authority (FCA) has imposed fines on three money transfer firms after they admitted to fixing prices charged to consumers in Glasgow, Scotland. Dollar East (International Travel & Money Transfer) Ltd; Hafiz Bros Travel & Money Transfer Limited; and LCC Trans-Sending… Read More

January 7, 2024 @ 6:39 pm By Omar Faridi  |  

Business leaders in the financial services sector are feeling optimistic moving into 2024, according to new research from KPMG UK. The survey of senior executives working in the sector found “that 87% are ‘confident’ when it comes to overall business growth in the first quarter… Read More

January 6, 2024 @ 10:28 am By Omar Faridi  |  

New data from Nationwide shows that cash usage continues “to rise as many households respond to the cost-of-living crisis by budgeting with physical money.” That data also shows where the building society is “the last remaining branch in town, the growth in usage is at… Read More

January 5, 2024 @ 12:23 pm By Omar Faridi  |  

Investment platform Lightyear announces a “record” year of investment activity on the platform. Seeing nearly 20% month-on-month growth in assets under management (AUM), the appetite for investing – despite another rollercoaster year for the public markets – remains high. In 2023, the company also “increased… Read More

January 5, 2024 @ 11:11 am By JD Alois  |  

The UK is a top Fintech hub recognized globally for its innovation in financial services. The country has always punched above its weight class when it comes to Fintech and in the past led the charge for Fintech funding in all of Europe. A new… Read More

January 5, 2024 @ 9:37 am By Omar Faridi  |  

Digital securities are broadly acknowledged as the future of all securities. Yet, progress has been slow for regulators around the world to craft the needed rules to enable digital to replace existing analog securities. The advent of distributed ledger technology (DLT), or blockchains, is expected… Read More

January 5, 2024 @ 8:43 am By Omar Faridi  |  

Accenture (NYSE: ACN) has completed the acquisition of 6point6, a U.K. technology consultancy, specializing in cloud, data, and cybersecurity. The acquisition enhances Accenture’s strategy and architecture capabilities, “with a particular emphasis on central government, defense and security, and financial services.” The acquisition was previously “announced… Read More

January 4, 2024 @ 10:58 am By JD Alois  |  

Bumper, an automobile payments Fintech, has raised $48 million in Series B funding, according to a note from the company. The funding round was led by Autotech Ventures with participation from Shell Ventures, JLR’s InMotion Ventures, Porsche Ventures, and Revo Capital. To date, Bumper has… Read More

January 4, 2024 @ 10:44 am By JD Alois  |  

UK-based Fintech Capital on Tap has selected Damian Brychcy to be its new Chief Executive Officer. Brychcy replaces David Luck, who will become the Executive Chairman of the firm. Brychcy was previously the company’s Chief Product Officer. Luck said he would work closely with Brychcy to… Read More

January 4, 2024 @ 9:34 am By JD Alois  |  

LendInvest Mortgages says it has “drastically” reduced residential rates in an effort to enable first-time buyers and boost its business. For credit-impaired borrowers, LendInvest says rates now start at 5.49% – a reduction of 55 basis points. Paula Mercer, Head of Sales at LendInvest Mortgages,… Read More

January 4, 2024 @ 8:38 am By Omar Faridi  |  

As the new year unfolds, Loqbox, a UK-based financial wellbeing business, reveals compelling insights from a survey of over 2,300 of its members, “indicating a commitment to financial health among Britons in 2024.” Key findings shared by Loqbox with CI: Financial goals to take center… Read More

January 4, 2024 @ 3:00 am By JD Alois  |  

Payments Fintech Volt has announced the appointment of Irina Chuchkina as Chief Marketing Officer. Chuchkina was previously at Thunes. Prior to Thunes, Chuchkina held executive marketing roles at Rapyd,  super-app Grab, and Visa. She has also served on the board of the Singapore Fintech Association…. Read More

January 3, 2024 @ 10:39 am By JD Alois  |  

The Women in Fintech Powerlist 2023 is now accepting applications. The annual list is a project by Innovate Finance in the UK and highlights female founders/executives, influencers, and policymakers leading the charge in digital financial services. Applicants will submit names under eight different categories, including:… Read More

January 3, 2024 @ 9:03 am By Omar Faridi  |  

Buying a home and paying off the mortgage are the “biggest financial wins” that make people proud, while living in debt and spending beyond one’s means are the “nation’s biggest regrets,” according to research shared by online pension provider PensionBee. A survey by PensionBee has… Read More

January 1, 2024 @ 8:39 pm By Omar Faridi  |  

Four in 10 consumers are heading into 2024 saying they feel less financially secure than when 2023 began, according to new research from KPMG UK. Assessing confidence for 2024, KPMG’s latest Consumer Pulse survey of 3000 UK consumers shows those feeling worse “about their financial… Read More

December 30, 2023 @ 5:47 pm By Omar Faridi  |  

UK’s Sourced Capital recently noted that 2023 has been a great year for them. Sourced Capital says they have had an “outstanding” year to date as indicated by their latest statistics, “raising £11.8 million for projects and repaying nearly £4 million in interest to our… Read More

December 30, 2023 @ 1:17 pm By Omar Faridi  |  

Kriya notes that they’re about to close off 2023 and what an “important” year it’s been for the UK Fintech firm. This time last year Kriya CEO Anil Stocker says he was reflecting on their recently launched PayLater products and rebrand. According to the company… Read More

December 28, 2023 @ 9:45 pm By Omar Faridi  |  

OakNorth – a UK-based digital bank, has added Lord (Adair) Turner as its Chairman of the Board. Lord Turner reportedly has “an extensive track record in financial services, including as Vice-Chairman of Merrill Lynch Europe, a Board Director of Standard Chartered, Chair of the Financial… Read More

December 28, 2023 @ 9:53 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) Chief Executive Nikhil Rathi has issued a statement on the agency’s key achievements in the past couple of years. The update is part of a three-year strategy by the FCA to support financial services development while providing ample protection…. Read More