IFGS 2023: More “radical change” for payments on the horizon, BoE deputy governor says
Payments used to be a “dusty corner” in financial services but are now evolving at speed, Sir Jon Cunliffe says.
UK
IFGS 2023: How crisis creates opportunity for fintechs
Funding Circle CEO Lisa Jacobs and Zopa CEO Jaidev Janardana took to the stage at IFGS 2023 in London.
WealthKernel names Brian Schwieger as new board chair and non-exec director
Schwieger was previously global head of equities and ETF trading at the London Stock Exchange.
Credit card start-up Yonder bags £62.5m in equity and debt funding
The fresh funding gives Yonder a post-money valuation of more than £70 million.
Demystify Podcast with Norris Koppel and Atul Choudrie, Monese
In this podcast episode we talk about Monese and what makes it so special and successful.
Paynetics lands UK EMI licence from the FCA
Paynetics was previously operating in the UK under the FCA’s Temporary Permission Regime.
Virgin Money partners FNZ to launch new digital investment platform
The new offering will provide Virgin Money customers with three investment funds to choose from.
ClearBank sees income nearly triple to £58m in 2022
UK-based ClearBank is plotting its European expansion and expects to remain profitable through 2023.
FCA orders closure of WealthTek, joint special administrators appointed
The FCA ordered WealthTek to cease all operations last week, citing “serious regulatory and operational issues”.
UK payments start-up Ryft secures FCA licence
The company raised £1.5 million in a seed funding round last year.
IG Group names Adam Wheelwright as new CTO
Wheelwright was previously the CIO of the UK Health Security Agency.
UK’s Payment Systems Regulator unveils annual plan and budget
The UK’s Payment Systems Regulator has published its key aims, activities and budget for the next year.
UTP Group set to acquire Wellet’s Spanish business
Launched in 2021, Wellet is a card payment app that uses similar technology to UTP Group’s Tapeeno.
Lloyds Bank partners Enigio to boost trade finance digitisation
Enigio’s solution creates digital documents that can be used where an ‘original’ document is required.
Tandem Bank acquires money app Loop for undisclosed sum
Loop will continue to operate as a standalone brand and app following the acquisition.
How fintech start-ups are driving the ethical finance revolution
FinTech Futures chats with three ethical fintech firms operating in the UK.
TerraPay secures $100m in debt and equity funding to fuel global expansion
With the new funding, TerraPay plans to expand its services in Latin America and the MENA region.
UK government delays plan to sell NatWest shares by two years
Rather than offload a 15% stake in the group this year, HM Treasury has pushed the date back to August 2025.
Rathbones acquires wealth management arm of Investec in £839m deal
The new combined UK entity will have around £100 billion in funds under management.
Railsr appoints new CEO, CFO and COO following rescue sale
Railsr board chair Rick Haythornthwaite says the new appointments bring “renewed energy” to rebuild the firm.
Quantexa raises $129m Series E funding at $1.8bn valuation
The company will use the new capital to expand its global presence and hire more engineering staff.
US saving and investing app Acorns acquires UK’s GoHenry
Together, both firms will now serve over 6 million customers globally.
PPRO appoints Motie Bring as chief commercial officer
In his previous role, Bring served as CCO at paytech Nuvei.
Paysafe names Nicole Carroll as new chief strategy and innovation officer
Carroll, who was previously chief product officer at Experian, has more than three decades of industry experience.
Sustainable investment fintech Clim8 shutters
Clim8 says it has been unable to secure further venture capital to fund the business.
The Co-operative Bank partners Onfido for customer onboarding solution
Onfido’s solution allows The Co-operative to meet regulatory requirements and customer preferences.
Blockchain-based BaaS provider Scallop partners tell.money for open banking compliance
Scallop will utilise tell.money’s gateway service to ensure PSD2 open banking compliance.
UK fintech Paytrix lands $18.3m in Series A funding round
The Series A follows a pre-seed funding round held last year, when it raised £5 million.
FCA appoints two new joint executive directors for enforcement
Therese Chambers and Steve Smart will work as joint executive directors of enforcement and market oversight.
Ingenico acquires smartphone payment acceptance fintech Phos
Phos enables merchants to accept payments directly from NFC-enabled Android devices.
Griffin hires new CFO and CRO to bolster leadership team
Chad Ryan joins as chief financial officer and Dora Grant as chief risk officer.
UK paytech Equals Group eyes European expansion with Oonex acquisition
The firm plans to roll out its business payments, expense management and current account products throughout Europe.
FCA outlines expectations for payment firms’ customer protections
It says many firms present “an unacceptable risk of harm” to their customers.
UK fintech Sibstar launches to help people with dementia manage their spending
Sibstar has launched in the UK in partnership with Alzheimer’s Society and Mastercard.
Plend partners GoCardless for variable recurring payments solution
VRPs will allow Plend customers to change their payment schedule to suit their financial circumstances.
UK fintech Snoop reportedly mulling sale
Sky News reports founder Jayne-Anne Gadhia is in talks to either raise new funds or potentially sell the business.
Suffolk Building Society partners ieDigital for new digital savings platform
The new eSavings platform will be powered by ieDigital’s Interact software.
CryptoUK calls on FCA to oppose banks banning transfers to crypto exchanges
CryptoUK says banks limiting transactions to crypto platforms is “anti-competitive and disproportionate”.
Griffin partners Cable to strengthen BaaS financial crime controls
Cable says its tech will help Griffin “monitor, identify, and address financial crime control risks”.
Seilern Investment Management taps Finbourne for LUSID data platform
Seilern will utilise the cloud-native LUSID platform to optimise its investment decision making.
