ClearBank secures new Credit Institution Licence from the ECB to expand into Europe
The licence was secured by ClearBank Europe N.V., ClearBank’s newly established European entity.
UK
CloudPay secures $120m funding round led by Blue Owl Capital
The paytech’s latest funding round adds to the $50 million it raised in 2022.
Sendsprint acquires Nobel Financial to expand remittance services in the US
Scott McClain, Nobel Financial’s chief compliance officer, will also join Sendsprint in the same role.
White paper: Beyond the basics – exploring trends shaping AML compliance in 2024
What controls UK businesses should put in place to effectively prevent money laundering and other financial crime.
SME-focused neobank Ampere launches card-to-card payments in partnership with Mastercard
The offering facilitates conversions in over 60 different currencies.
Lloyds Banking Group names Rohit Dhawan as new group director of AI and advanced analytics
In this newly created position, Dhawan will oversee Lloyds’ AI Centre of Excellence.
Shawbrook taps nCino for automated SME loan origination
The bank is also adopting nCino’s nIQ solution for AI and machine learning tools.
Bain Capital completes deals to acquire Finova and Iress’ UK mortgages business
Under BCTO’s ownership, the two entities will merge to become a single combined business.
ICYMI fintech funding round-up: Rillet, Aveni, Mamo, Payflow, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Ebury reportedly appoints Goldman Sachs as it gears up for potential 2025 LSE debut
The Santander-owned fintech could list on the LSE as early as Q1 2025, according to reports.
BCI sells majority stake in Hayfin to Arctos Partners
Hayfin entered into an agreement with Arctos Partners “to support a management buyout of the business”.
Bank of England launches discussion paper on “ambitious agenda” for UK’s payments landscape
The public have until 31 October 2024 to submit feedback on the paper.
Ireland’s An Post joins forces with Safecypher to combat CNP payment fraud
Safecypher’s tech tackles CNP fraud by enhancing CVV protection for card payments.
NatWest to acquire £2.5bn in prime UK residential mortgages from Metro Bank
Metro Bank is also set to withdraw credit cards from its product range.
Coinbase’s CB Payments unit fined £3.5m by FCA
The FCA claims CBPL breached a requirement that prevented it from offering services to “high-risk customers”.
Wealthify names former Azimo chief Richard Ambrose as new CEO as Andy Russell steps down
Russell is moving onto “the next phase of his career” having served as Wealthify’s CEO for over four years.
UK’s CMA says Lloyds Bank, TSB, AIB and HSBC breached Retail Banking Order
The CMA will continue to monitor the compliance of the four banks.
UK embedded finance provider Weavr lands EMI licence in Malta
Weavr aims to leverage the licence to deliver “the most comprehensive domiciled IBAN offering in Europe”.
Building on solid foundations: Writing the next chapter of the UK’s open banking story
The potential for all parties to benefit from open banking is clear, and it’s immense.
ICYMI fintech funding round-up: Carry, Fragment, Powder, and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
UK challenger Zopa taps ClearScore’s D•One for open banking-powered credit assessments
Zopa will utilise D•One’s tech for “open banking connectivity and transaction categorisation intelligence”.
Revolut secures UK banking licence with restrictions, enters mobilisation stage
Revolut has been in pursuit of a UK banking licence since 2021, when it first lodged its application with the PRA.
Morgan Stanley buys stake in UK business payments start-up Sokin
Sokin says the deal will “accelerate its product growth plans and further global expansion”.
FCA issues new guidelines to ensure cash access for consumers and small enterprises
Fourteen banks and building societies are set to implement the new cash access system.
Social trading app Shares set to exit UK market
Shares plans to close its UK app on 30 August as it looks to “focus on the French and EU markets”.
The UK risks throwing away its fintech crown as open banking ambition stalls
The cost of allowing fintech to languish in limbo is simply too high.
UK money management app Plum raises £16.1m investment
The investment is comprised of a £13.4 million Series B and a £2.7 million Crowdcube campaign.
FCA lifts partner onboarding restrictions on UK fintech Modulr
Modulr can now resume onboarding A&D partners but must inform the FCA when doing so.
UK paytech RC365 acquires Money Lenders Licence to provide digital lending services in Hong Kong
RC365 purchased the licence from private investment and advisory firm HC Capital Group for HK 230,000.
Boku names former NatWest exec Rob Whittick as new CFO
Whittick most recently served for over four years as chief of staff of NatWest Group.
Cash App to exit UK as Block scales back international expansion plans
Block is currently focused on “growing within the US, not expanding into new markets”.
ICYMI fintech funding round-up: Dopay, Wamu, Mifundo, Papaya and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
What’s next for UK fintech under the new Labour government?
After Labour’s election victory, FinTech Futures explores what the future might hold for UK fintech.
RTGS.global co-founder and CTO Andrew Smith announces departure
Smith announced his decision to part ways with the company on LinkedIn.
Meridien Holdings acquires stake in FX liquidity firm DKK Partners to bolster plans for NYSE listing
The US-based holding company says it has “set fourth its plans to list on the NYSE”.
Zodia Markets acquires Elwood’s digital asset OTC business for undisclosed sum
Upon completing the deal, ECML will be rebranded as Zodia Markets Jersey Ltd.
Lloyds Banking Group terminates five-year agreement with invoice financing fintech Satago
The agreement was initially announced in March 2022 with Lloyds also investing £5 million into the fintech.
HSBC-backed UK fintech Divido enters administration
Josh Dwyer and Richard Heis of Interpath Advisory have been appointed as joint administrators.
HSBC concludes search for new Group CEO with Georges Elhedery appointment
The appointment follows Noel Quinn’s announcement in April that he was stepping down after five years as CEO.
Thunes hires former Worldpay exec Sigrid Hulsebosch as new CFO
Hulsebosch will take charge of Thunes’ financial strategies and global finance function.
