EIS launches in the UK
The insurance platform expands its global footprint.
UK
Monzo’s Tom Blomfield swaps CEO title for president role
US CEO TS Anil will also be the bank’s UK CEO.
WorldRemit chooses Onfido to further automate its account onboarding
Onfido will automate WorldRemit’s KYC decision-making process.
Six new UK lenders approved for CBILS including fintech iwoca
CBILS grants have accounted for £7.25 billion in crisis cashflow for SMEs.
Silicon Valley Bank bags Santander chief exec as new UK COO
Prior to Santander, Patrick Flynn spent six years at Barclays as COO of its capital arm.
Rimilia appoints new board chairman as part of wider exec shake-up
The fintech has also appointed a new CTO and CPO.
Money Dashboard appoints ex-PayPal CEO as new chair
Edinburgh-based fintech prepares for next growth phase.
UK green investment platform Clim8 raises £1.35m
The fintech is due to launch sometime this summer.
UK fintech Fly Now Pay Later lands £35m Series A
The start-up says it will use its investment to help “reboot” the travel industry.
Longevity Card lands investment from Deep Knowledge Ventures
The card will launch in the UK and Europe in early Q4 2020.
UK SME lender B-North adds TruNarrative to its tech stack
The two have been working together since early 2019.
UK fintechs Tide and Liberis land loan accreditation
Tide is aiming to get loan delivery up and running today.
SME fintech ANNA bags £17.5m from ABHH Group
The investment values it at $110m, with the founders keeping a 40% stake in the start-up as part of the deal.
Monzo’s valuation plummets 40% to £1.25bn in latest fundraising
The fintech was valued at £2 billion last June.
Freetrade sets new record on Crowdcube with $5m raise
The round is its sixth crowdfund to date.
Insurance financer Bexhill UK applies for banking licence
Founded in 2000, Bexhill UK works with roughly 250 brokers.
Will COVID-19 drive mortgage transformation up a gear?
The market needs to step up its efforts to better engage borrowers on their mortgage options.
Starling Bank and Funding Circle team up to provide £300m in CBILS loans
The fintechs say the partnership will help more than 4,000 small businesses.
Marcus cuts easy-access saver rate again to 1.05%
On 19 March, the Bank of England cut its base rate to 0.1%.
Featurespace raises £30 million in venture funding
Anti-fraud company nabs new injection to support growth.
Banking Technology May 2020 issue out now
Hope springs eternal: discovering alternative lending in times of crisis.
Revolut announces redundancy of 60 employees due to coronavirus
“We have made every effort to protect every job,” says fintech.
Fintech bridges and risk in the UK
These are seen by some to be a post-Brexit policy to ensure that the UK does not lag behind.
Temenos helps UK banks speed up BBLS distribution “in days”
UK banks have seen a surge in demand for BBLS loans.
Merchant payments fintech Primer raises £3.8m
The newly-launched fintech has secured investment from Balderton Capital.
A bumpy road for alternative lenders
Coronavirus crisis opportunities for alternative lenders come with big risks.
Why alternative lending will be essential to save UK SMEs
This makes it the ideal tool to help SMEs through COVID-19.
Monzo bags banking veteran as its new head of global financial crime
Laramy comes from Barclays, Santander and US bank Capital One.
Business banking app Countingup lands £4m led by ING
ING says Countingup is a “digitally disruptive solution”.
Paysafe snaps up Standard Chartered director for chief banking role
Sharp will be in charge of the firm’s payment partner networks.
Payments start-up Banked raises £2.3m in seed funding
Real-time payments firm aims to challenge incumbent dominance.
Kestrl to offer UK consumers ethical banking alternative
The debit card launch is expected sometime in Q3 following a June beta.
IBM, R3, Mastercard, and Accenture form Trust over IP Foundation
The group want to create a standard for a decentralised digital identity exchange.
Newcastle Building Society names Manila McLean as new CIO
Manila joined the firm from Tesco Bank in 2019.
Nine new UK lenders get approved to issue CBILS
The BBB now has more than 60 accredited lenders handing out CBILS grants.
Masthaven Bank shakes up leadership with new CEO
Leigh Bartlett moves into the CEO position as founder Andrew Bloom steps back.
Revolut seeks acquisitions with struggling travel firms
“A lot of travel aggregators are in trouble at the moment,” says CEO.
UK challenger 220 lands former Standard Chartered COO as adviser
Angela Knight worked at Standard Chartered for an uninterrupted 22 years.
Citi’s Proxymity lands $20.5m from HSBC, JP Morgan and Deutsche Bank
The funding round will see it become its own London-based entity.
Cash deposit platform Flagstone lands £12m funding
Since 2015, Flagstone says it has facilitated £5 billion in deposits.
