Post-Brexit payments space is ‘breeding ground for financial crime as Wild West culture’ looms, warns rising City star November 16, 2021 After the UK left the European Union, a range of payment providers reported so-called IBAN discrimination as a number of companies across Europe began to refuse Euro account bank details if they contained the country code ‘GB’. As a result of Brexit, sending a payment to Eurozone countries resulted in additional charges. Whilst the fee is [...]
Ron Kalifa: UK’s fintech pole position could be jeopardised by skills gap November 15, 2021 Ron Kalifa, who delivered an independent review of UK fintech on behalf of the Treasury earlier this year, has said that the UK has a skills deficit when it comes to technology and data that needs to be addressed so that the country maintains its world-leading position in the sector. Speaking at an industry event, [...]
CEO of IWF warns a ‘tidal wave’ of child abuse material is flooding the internet November 13, 2021 The amount of child sexual abuse material being found online by expert analysts is fifteen times higher than a decade ago, according to Susie Hargreaves, the CEO of the Internet Watch Foundation (IWF). The boss of the online safety organisation said its analysts are facing a “tidal wave” of abuse material, as it called for [...]
Adapt or die: What can retail, health and other industries learn from banks? Turns out, a lot November 10, 2021 What can retail, health and other industries learn from banks? Turns out, a lot. A third of Brits rate their digital experiences in financial services a 9 or 10 out of 10 compared to other industries. In fact, whether it is making payments, getting a loan or even opening a new account, by far most [...]
All eyes on the UK Supreme Court today as it will rule on £2bn lawsuit by 4m Brits against Google November 10, 2021 Should a billion-pound legal action against Google over claims it secretly tracked millions of iPhone users’ internet activity be allowed to go ahead? The UK’s highest court will give its verdict at 9.45am today. Former Which? director Richard Lloyd, supported by the campaign group Google You Owe Us, wants to bring a “representative action” against [...]
UK fintech body slams government for ‘ducking’ to roll out sector strategy November 8, 2021 UK fintech’s industry body, Innovate Finance, has attacked the government for inaction in delivering on its recommendations for the sector in the Kalifa report, published earlier this year. Adam Jackson, director of policy at Innovate Finance, said: “The main policy and regulation recommendation that has been ducked so far is for a FinTech strategy. “Kalifa [...]
Private equity and UK tech powering £8.4bn M&A tsunami on LSE’s AIM as deals jump 155 per cent November 8, 2021 The value of M&A deals on London’s Alternative Investment Market (AIM) has jumped 155 per cent to £8.4bn in 2020/21, compared to £3.3bn in 2019/20, according to new research shared with City A.M. this morning. The large rise in the value of AIM M&A deals this year is due in large part to a number [...]
Exclusive: Brands fall short of customer engagement and interaction, warns digital ad guru October 29, 2021 In today’s increasingly digital-led way of life, retailers, service providers and other businesses are digitalising more of their operations and dealing with customers across a range of channels, whether it’s via a website, mobile app, email and other messaging formats, social media, or even the old-fashioned phone call. But according to Daniel Homoki-Farkas, UK managing [...]
Swipe right for a job: Brits turn to dating apps for their next career move October 29, 2021 Dating apps are increasingly being used for networking and job-hunting purposes, it has emerged. One in 10 Brits admit that they turn to the likes of Tinder, Bumble and Plenty of Fish exclusively for networking or to find new employment. according to new research shared with City A.M. today. Additionally, nearly one in 10 people [...]
City banks and financial services firms bet heavily on tech and data analytics October 27, 2021 Banking and financial services firms plan to step up their tech investments in the coming 12 months to improve both front and back-end technology. In fact, nearly three in four financial institutions has made improving the quality of their core technologies a priority, while 65 per cent of financial services players plan to pump more [...]