FCA makes major changes following LCF and Connaught review
Firms that have not used their regulatory permissions for the last 12 months are at risk of having it revoked.
UK
Cyberpunk 2077 makers face potential securities class action lawsuit
Cyberpunk 2077 – from lawsuits and refunds to big wins from hedge funds.
TransferWise preps for 2021 IPO
The firm has asked investment banks to pitch in the new year for roles on an impending IPO.
Mastercard makes undisclosed investment in Form3
The additional undisclosed funding follows its $33 million raised in August this year.
UK fintech GoCardless raises $95m funding
The Series F round was led by Bain Capital Ventures and brings the total raised to-date to $240m.
FCA fines Barclays £26m over poor treatment of customers in financial difficulty
Barclays did not dispute the FCA’s findings and agreed to settle the case.
London BNPL fintech Zilch latest to enter UK market with $30m
Zilch claims to be the only BNPL player to combine open banking with soft credit checks.
AnaCap announces acquisition of Novia Financial
The deal is AnaCap’s third foray into the UK investment space since 2019.
Mastercard faces UK’s largest ever £14bn class action lawsuit
“Businesses and consumers simply cannot afford to continue paying sky-high rates.”
UK CBDC researcher: We should be further along than we are
A UK CBDC won’t happen anytime soon if the Bank of England takes an iterative approach.
Financial assistant app Cleo raises $44 million
Cleo has four million Gen-Z and millennial users; and recorded a 400% revenue growth in the last year.
GoHenry latest in kid’s banking sector to land funding of $40m
Over 2019, parents on its app paid £98m in pocket money to their children.
Standard Chartered to launch crypto custodian in UK next year
The bank will, through Zodia, provide custody services for Bitcoin, and Ethereum.
Revolut hot on Starling’s heels, breaks even in November
“We’re doing much better compared to pre-Covid times,” says CEO.
Bank of England’s Islamic liquidity announcement “a huge vote of confidence”
UK’s Islamic finance sector welcomes ALF announcement from central bank.
Modularbank lands €4m to set up UK commercial operations
The start-up claims to be cashflow positive since its inception.
Paysafe to list via Bill Foley-backed Spac at $9bn valuation
Blackstone and CVC acquired Paysafe back in 2017 for £3 billion.
Deutsche Bank expands Google cloud partnership
Major German lender expands cloud usage to lending and retail banking.
Mortgage automation: solving today’s business challenges with a proven tool
AVM is becoming commonplace within the mortgage process, benefitting lenders and consumers alike.
Change at the top for London Stock Exchange Group
London Stock Exchange Group and London Stock Exchange make executive changes.
Bank of England selects Appvia for two-year cloud development scheme
Appvia wins selection process started in January 2020.
Half of UK’s small businesses now use open banking, says OBIE
Open banking is speeding up account switches too.
Pockit raises over £500k in its debut crowdfunding
Pockit points to international expansion plans.
UK fintech Updraft raises £16m to refinance borrowers’ credit debt
The fintech focuses on spend-linked borrowings.
How the cloud is the path to open banking
Now is the right time to see how to take better advantage of the open banking framework.
Payment Systems Regulator names Ruth Wandhöfer as new chair
Wandhöfer replaces Stephen Locke at the payments regulator.
Monzo lands another £60m from new backers
The latest funding still sees to leave Monzo at its £1.2 billion valuation.
Banking for good
As the new kids on the fintech block start to mature, I do hope they support the broader community.
West Bromwich Building Society launches mobile app with Unisys
West Brom to deploy Elevate system underpinning new customer services.
Ziglu lands £6m in Seedrs crowdfunding campaign
Last month, Monzo’s former legal head James Sullivan joined Ziglu.
UK central bank unveils Islamic finance liquidity alternative
The central bank will run tests in early 2021.
Lloyds is world’s first bank live on Swift gpi instant
The payments network expects to roll out adoption across the globe.
Former Paypal execs raise £14m for start-up venture Primer
The co-founders met at PayPal-acquired Braintree.
Credit Suisse announces António Horta-Osório as new chairman
The outgoing Lloyds executive will join the Swiss bank in April.
Glitch-riddled TSB goes down again on payday
“[It’s] payday so it means that TSB online banking and app is down again.”
Lloyds pinches new CEO Charlie Nunn from HSBC
Nunn steps into new shoes at a chaotic time for any bank.
JP Morgan and Lloyds considering acquisition of UK challenger Starling Bank
Pair of major banks interested in Starling Bank’s potential following profit announcement.
Report: Digital KYB – a springboard to customer onboarding success
FinTech Futures’ latest in depth industry report on KYB, in partnership with DueDil.
London payments firm SumUp buys digital PoS fintech Goodtill
SumUp and Goodtill have worked together “for many years as partners”.
Lanistar comes under UK advertising watchdog’s microscope
The regulator says it “received complaints about ads for Lanistar”.
