Railsbank frontrunner to purchase Wirecard Card Solutions
London-based firm puts its hat in the ring to acquire ailing firm.
UK
London to maintain grip on EU clearing post Brexit
COVID-19 thwarts Frankfurt’s plans to grab clearing business from Britain.
TrueLayer and sync. partner up on Spanish expansion
UK-based aggregation platform taps TrueLayer to boost its service.
Silicon Valley Bank looks to hire 80 people in UK office
The bank has hired 30 staff in the first half of the year.
British Business Bank extends CBILS deadline
Firms have two months to consider the cases, making the final approval on 30 November.
Former UK chancellor Sajid Javid returns to JP Morgan
His role at the bank will be “strictly ring-fenced” from his political position.
Samsung launches Curve-powered payments service
Samsung Pay Card allows users to pay with their hardware across multiple accounts.
Form3 gains investment from major UK banks
Payments firm raises $33 million and welcomes Lloyds and Nationwide as shareholders.
Landlords’ banking platform Hammock raises €1.1m in seed funding
The system claims to save landlords “significant time”.
EU warns City of longer wait for market access post-Brexit
The delay is because of the bloc’s own regulations which are also in flux.
Mastercard signs debit card deal with First Direct
First Direct becomes fourth UK bank to offer Mastercard debit cards.
Nationwide Building Society deploys Mortgage Brain’s Lendex
The system allows advisors to submit a mortgage application through the back office.
NatWest creates new COO role for its personal bank division
The appointment comes as the bank makes around 550 employees redundant.
Mortgage fintech Habito lands £35m Series C, becomes B Corp
The round attracted new investors Augmentum Fintech, SBI Group and mojo.capital.
UK challenger bank Chetwood quietly lands another £10m
“If it wasn’t for COVID-19, we’d be well on our way to turning a profit.”
Payments fintech Vitesse raises £6.6m in Series A funding
Vitesse brings total raised to £7.3 million with fresh injection.
OakNorth’s UK bank has approved £600m in loans since March
Some £220 million of the £600 million came from government schemes.
Holvi becomes next UK casualty, exits just six months after launch
The Finnish start-up says its departure is down to both COVID-19 and Brexit.
UK pensions firm Options teams with US Halal fintech Wahed Invest
Options UK thinks there is a noticeable gap in the Islamic pension market.
Revolut’s losses treble to £104.7m after year of rapid growth
Revolut’s revenue was up to £162.7 million in 2019.
Women need to be empowered not preferred, says Modularbank CEO
“They looked at me, as if to say: ‘what is this girl doing here?'” says Vene.
Swansea Building Society deploys Mutual Vision’s Online Banking
Welsh firm brings Mutual Vision’s client base up to 23 in the UK.
UK fintech VibePay launches business accounts
The fintech – which launched last October – has also integrated with a host of new banks.
Currencycloud signs up Starling Bank for new multi-currency account
TranSwap, and Remitr have also signed up for its new multi-currency wallet.
FCA posts concerns over repeat lending by credit firms
UK watchdog highlights issue with letting users borrow again and again.
Starling Bank losses doubled to £52m
The company hired hundreds of employees and focused on attracting new customers.
UK challenger sync. reveals £5.5m seed round
The fintech was forced to delay launch due to COVID-19.
CMA blocks FNZ-GBST merger over competition concerns
UK regulator worried merger may prevent new entrants scaling up in the UK.
UK leads the way in Islamic fintech ahead of Malaysia and UAE
The UK is a notable eight ahead of second-place Malaysia.
EPA critiques FCA approach to Wirecard suspension
The EPA says the FCA should have reached out to it.
How can fintech rise to the new D&I challenge?
If they don’t believe they are part of the problem, nothing will really change.
London’s start-up co-working space TechHub goes bust
Founder Elizabeth Varley puts the business’ collapse down to COVID-19.
Thought Machine taps US market with North America MD job search
Cloud adoption in North America amongst major banks is still in its infancy.
Iwoca calls on banks and UK government to extend CBILS
The fintech has raised £100m in debt financing to extend its own support.
Timing is everything: launching a bank amid COVID-19
“We never planned to launch a bank during a global pandemic,” says the CEO of Monument.
Finndon commits £2m investment towards FCA authorisation
The challenger aims to launch in the first quarter of 2021.
Monzo’s losses widen due to COVID-19
Bank admits that the pandemic casts “significant doubt” on its ability to continue operations.
LSE considers sale of Borsa Italiana to appease regulators
LSE exploring options to push through $27 billion acquisition.
Bank of England picks Accenture as RTGS renewal partner
Accenture comes out on top of a public procurement process.
Moneyfarm partners with Fabrick to expand open banking offerings
The pair plan to create a joint offering for customers in Italy and the UK.
