A thousand EU financial firms plan to open UK offices after Brexit
EY estimates that around 7,000 positions would be relocated from London to Europe.
UK
UK’s open banking tech hits one million customer milestone
The number doubled in the last six months.
Equifax’s 2017 data breach will cost firm at least $1.38bn
$380.5m is for breach compensation, and $1 bn for information security overhaul.
Video: Top fintech stories this week – 17 January 2020
FinTech Future’s weekly news round-up.
UK regulators fire Libor warning shots as deadlines loom
The FCA and Bank of England tell industry the time to act is now.
Revolut valued at $5bn by investors ahead of new fundraising
The valuation is nearly three times its last estimated valuation of $1.7 billion.
Lloyds Bank teams with Microsoft to speed up its digital transformation
The partnership is part of the bank’s £3 billion commitment to technology investments.
TransferGo partners with Currencycloud to reach Kenya, Singapore and Japan
It will facilitate cross-border payments & enable them to launch in 14 new markets over Q1.
EPA publishes guide promoting transparency for paytech account holders
Barclays, Natwest and Starling all took part.
How UK start-up The Money Platform is transforming credit for millennials
EXCLUSIVE: The lendtech is rolling out its open banking offering.
Challenger Longevity Bank positions itself for the silver generation
EXCLUSIVE: Co-founder Sergey Balasanyan tells FinTech Futures of his 2020 plans with the neobank.
US and UK regulators take lead on AML fines for 2019
37 of the 58 fines were handed out by American and British regulators.
NewDay acquires Deko to grow tech revenues
The acquisition comes months after the appointment of new CEO John Hourican.
Pepper CEO: Banks should provide tools for users’ financial empowerment
Michal Kissos Hertzog speaks to FinTech Futures.
Al-paca it in: Monzo co-founder leaves to farm Alpacas
The co-founder is quitting to focus on family business ‘Barnacre Alpacas’.
Video: Top fintech stories this week – 11 January 2020
FinTech Future’s weekly news round-up.
FCA stirs up competition for banks’ easy access saver accounts
FCA: Competition is not working well for 40 million British customers.
UK SMEs chasing £50bn in late payments, fintech opportunity ripe
SMEs are on average chasing five outstanding invoices at any one time.
Snoop picks OpenWrks to power its open banking
OpenWrks will connect Snoop to its customers’ current accounts and credit cards.
Tandem Bank to charge customers monthly membership fee
The bank will introduce a £5.99 monthly fee in March.
Saffron Building Society creates new savings app with DPR
Saffron manages more than £1bn in assets and has 90,000 members.
Payments app KogoPay crowdfunds £200k and hits £10m valuation
The London and Bangkok-based start-up tallied 281 investors.
Starling Bank eyes 2022 IPO and expects to break even by 2021
Starling CEO: “I didn’t do all of this to sell out to a big bank”
Atom bank’s former co-founder joins Queensland’s Daytek capital
Paul Hanks has joined DayTek Capital as a technology advisor.
Standard Chartered “first” bank to offer public platform to track payment status
The bank is ready for Swift’s November 2020 payments confirmation deadline.
Bank of England and FCA plot internal data analytics shake-up
UK regulators outline plans to improve their data handling capabilities.
British government investigating cyber-attack link to 2019 LSE outage
The August 2019 outage delayed trading by an hour and 40 minutes.
Travelex ordered to pay $3m ransom by cybercriminals
The ailing FX firm is wrestling with a New Year’s ransomware attack.
ING to launch analytics tool Katana as new fintech company
Dutch bank plans to spin out its AI tool in London.
Accenture onboards 50% more female founders in 2020 fintech lab cohort
Accenture wants to narrow the gender gap in fintech.
Financial management app Muse reveals £500k funding target
The fintech launched its app just a few weeks ago.
Belgian banking app Cake to launch first public app this month
The app pulls together customers’ existing bank accounts.
Think Business Loans set to launch new matching service iFunds V2
The credit broker says it will improve productivity for lenders by up to 75%.
Goldman Sachs and Morgan Stanley facing BoE probe
The banks’ balance sheets are under the microscope.
Metro Bank raids FCA for new risk director
Jose Morago says he’s “excited” to get back to the finance industry.
Challenger bank for British farmers Oxbury set to launch later this year
The launch comes at a time of prolonged Brexit uncertainty for British farmers.
Travelex quarantines website, internal systems after New Year’s Eve cyber-attack
Foreign exchange firm working “round the clock” to fix the attack.
Receipt Bank raises $73m in Series C funding round
Bookkeeping fintech will use funds to boost international growth.
RBS recruits army of digital influencers to promote banking app Bó
The sponsored posts were published after RBS was accused of writing fake reviews for Bó.
Two UK credit unions live on TCS Bancs
TCS confirms Voyager Alliance and RetailCUre deployment of cloud-based Bancs.
