Nine UK banks link up to form company protecting access to cash
The company’s aim is to provide cash access, deposit and basic banking services where they are needed, across the UK.
UK
Monex Europe hires Tim Philip as global operations director
Prior to joining Monex, Philip spent seven years as global chief operating officer at fintech firm Salary Finance.
The Bank of London names Gavin Hewitt as new chief financial officer
Hewitt will lead the firm’s accounting, finance and corporate treasury operations.
UK regulators fine TSB £48.6m over “operational resilience failings”
The FCA says technical failures in TSB’s IT system led to customers being unable to access banking services.
LSEG looks to boost post trade offering with Acadia acquisition
The deal is the latest in a string of acquisitions for LSEG this year.
ING CTO Ron van Kemenade to join Lloyds as COO next year
He will take up his new role at the UK bank in June 2023 subject to regulatory approval.
UK fintech Updraft secures £108m debt and equity funding
The money will be used to invest in new products and to support business growth.
Women in financial services: Bhavna Saraf of Lloyds Banking Group
We chat with Lloyds’ Bhavna Saraf about her banking journey, current payments trends and more.
New fintech start-up Step Fourth launches in the UK
Step Fourth says its first product offering, Blue Nova, will be ready for deployment in 2023.
Acin lands $24m in Series B funding from global banking heavyweights
The round was led by a consortium comprised of JP Morgan, Citi, BNP Paribas, Barclays and Lloyds.
It’s crunch time for open banking in the UK
The UK government and regulators have a golden opportunity to set open banking on a path to success.
BaaS fintech Griffin hires Sameer Dubey as chief product officer
Dubey brings 15 years of experience in financial services to the role.
UK fintech funding round-up: Bondaval, Etrading Software and Taxd
Our weekly round-up to help you get funding news of fintech companies, this time from the UK.
EY launches London-based incubator to boost UK fintech scene
The fintech lab, City AM reports, forms part of EY’s “ambitious plans” to grow its fintech business.
United Fintech snaps up FX risk and data services firm Cobalt
Cobalt is United Fintech’s fifth acquisition since launching in 2020.
Barclays to invest £500m in climate tech start-ups by 2027
Barclays says it made the decision to boost its investment following “substantial interest and demand”.
Euroclear to buy private markets fintech Goji
With the acquisition, Euroclear plans on expanding its footprint into private markets.
UK paytech Total Processing hires CCO and head of product to drive growth
Simon King joined as CCO in September while Aden Davies joins as head of product.
Mark Brant joins NatWest as chief payments officer
Brant will take up his new role at NatWest on 16 January 2023.
Microsoft buys 4% stake in LSEG, pair to develop data analytics solutions
LSEG has also committed to a $2.8bn cloud-related spend with Microsoft over the life of the 10-year agreement.
Teneo partners NatWest for A2A open banking payment solution Payit
Teneo will leverage account-to-account solution Payit to pay dividends to those affected by insolvent firms.
Moneyfarm set to buy digital pension adviser Profile Pensions
The deal, which is subject to regulatory approvals, is expected to close in H1 2023.
White paper: Banking in the new normal – foundations for customer lifecycle intelligence-led banking transformation
Uncovering the principal drivers that will distinguish banks that survive and thrive from those left behind.
New UK bank Ashman live with Mambu’s core banking tech
Once fully launched, Ashman will serve SMEs in the UK’s commercial real estate sector.
PSR outlines APP scam reporting process for banks and building societies
The PSR says APP scams are a “major problem” in the UK with over 95,000 incidents in the first half of 2022.
Starling Bank to create 1,000 jobs as it opens new Manchester base
Starling says it chose Manchester due to its “deep pool of tech talent and rich cultural and creative heritage”.
Santander UK hit with £107.7m FCA fine for AML failures
The regulator says it found “serious and persistent” gaps in the bank’s AML controls.
Barclays makes changes to group executive committee as COO steps down
Alistair Currie is set to take over from Mark Ashton-Rigby as the bank’s new group COO.
Bevan Money taps Sopra Banking Software for core banking tech
Bevan Money will utilise SBS’ Sopra Banking Platform technology to power its offering.
Keyrock lands $72m in Series B funding round
Keyrock plans to invest in infrastructure development and regulatory licensing.
Open banking fintech Plaid to cut 260 jobs
Plaid CEO Zach Perret told employees “our pace of cost growth outstripped our pace of revenue growth”.
Crypto platform Zumo hires first chief data and analytics officer
Vicky Byrom joins Zumo from paytech firm Modulr.
Investec taps Surecomp for its digital trade finance tech
Surecomp’s tech will support Investec’s newly formed trade finance business.
Singapore’s Osome raises $25m in Series B funding
The start-up uses machine learning to help businesses automate accounting, payroll and tax reporting.
Financial super-app Curve lands $1bn credit facility from Credit Suisse
The firm plans to scale its lending business Curve Flex across the UK, EU and US.
eBook: Is it time for risk orchestration?
Download this free eBook to learn more about risk orchestration and its application in practice.
BIC Bank partners Compass Plus Technologies to expand its payment services
The bank has successfully migrated its in-house processing centre to the tech firm’s TranzAxis platform.
SME challenger bank Allica bags £100m Series C funding
Allica says the cash will allow it to “scale rapidly and accelerate its disruptive impact in the UK SME market”.
Hodge Bank taps LexisNexis to streamline customer onboarding
The Cardiff-based lending and savings provider will deploy LexisNexis’ RiskNarrative platform.
The Bank of London names former Metro Bank exec Marc Jenkins as new UK CFO
Jenkins will be responsible for “all accounting, finance and corporate treasury” at the bank.
