Mortgage arrears surge 50 per cent to seven-year high as Brits squeezed by higher rates March 12, 2024 The proportion of UK mortgages in arrears rose to its highest level since 2016 at the end of 2023, according to data from the Bank of England, as borrowers are squeezed by high interest rates and household costs.
Cashplus: Digital challenger to rebrand as Zempler Bank this summer March 12, 2024 Challenger bank Cashplus will rebrand as Zempler Bank this summer to reflect its range of digital products and authorisation as a bank.
London fintech Tide set to launch in Germany as it looks to grow international footprint March 12, 2024 The international push comes after rapid growth in the UK, where it now boasts around 575,000 small business clients, alongside over 200,000 from its Indian division.
UK proposes new laws to crack down on push payment fraud March 12, 2024 New legislation to crack down on push payment scams via banking apps will be brought to parliament, the government has announced today.
Silicon Valley Bank one year on: Is another banking crisis around the corner? March 12, 2024 One year on from the collapse of Silicon Valley Bank - could another crisis be around the corner?
Vanquis shares crater as bank issues profit warning amid surge in third-party claims March 11, 2024 Shares in Vanquis Banking Group tumbled as much as 43 per cent on Monday morning after the specialist lender said it expects profit to come in "substantially lower" than analysts' estimates in 2024 from costs tied to restructuring and a surge in third-party claims.
‘The budget doesn’t f*cking matter’: Gary Stevenson on why Hunt’s fiscal plans are ‘deckchairs on the Titanic’ March 11, 2024 Gary Stevenson, former Citi trader, quit the City a decade ago to campaign against inequality. Charlie Conchie, sits down with him to ask why.
Griffin: UK’s newest bank lands £19m funding round as it looks to scale March 11, 2024 Griffin, the UK’s newest fully operational bank, has secured a $24m (£19m) funding round as it looks to take on new customers for its Banking as a Service (BaaS) platform.
London fintech Flagstone notches £108m US private equity funding as it eyes international expansion March 11, 2024 UK fintech savings platform Flagstone has landed £108m funding from US private equity firm Estancia Capital Partners as it looks to tackle savings inertia and ramp up international expansion.
Morgan Stanley to stay in Canary Wharf in boost to struggling banking district March 10, 2024 Morgan Stanley has decided to retain its flagship Canary Wharf office in a major boost for the struggling financial district.