Data-hungry fintech firms urge FCA to ‘break’ banks this year January 2, 2021 A coalition of London startups is calling on the Financial Conduct Authority to end the dominance of banking institutions over the use of consumer data this year. The firms argue it would increase competition in the savings, credit, mortgages and pensions markets. The Coalition for a Digital Economy (Coadec), an advocacy group that represent a [...]
Startup Spotlight: The top 50 London tech firms to work for January 2, 2021 From insurtech to fitness and everything in between, recruitment platform Tempo has compiled a list of the best London-based startups to work for. Companies in its “Super Startups” list have been based on the company’s mission, employee reviews and career pages. To be considered for the list the startups must have been launched after 2014, [...]
Uswitch owner RVU picks up Confused.com in effort to broaden reach December 29, 2020 London-based RVU, owner of comparison site Uswitch and financial planning outfit Money.co.uk, has announced a deal to buy Confused.com from Admiral Insurance. RVU will pick up Confused.com as well as the market leaders in insurance comparison in both Spain and France. Read more: Tech jobs boom as UK moves towards light at the end of [...]
To the Moon: The ‘fintel’ going after the TikTok generation December 22, 2020 Almost every startup has at some stage dubbed themselves a disruptor. The Monzo or Revolut of their respective industries. It has become a tired cliche in the startup world but a new London-based startup is laying claim to being not only a disruptor but forging a new industry in itself. To the Moon claims to [...]
Robinhood pays $65m to settle SEC charges December 17, 2020 Stock trading app Robinhood has agreed to pay $65m in charges to settle claims it had misled customers about payments it received for handling their trades. Between 2015 and late 2018, Robinhood made “misleading statements and omissions in customer communications… about its largest revenue source when describing how it made money,” according to the Securities [...]
Gocardless nears $1bn valuation after latest funding round December 17, 2020 London fintech Gocardless is nearing unicorn status after its latest funding round amid a digital payments boom. The Alphabet-backed company announced it had raised $95m in its latest funding round led by the venture capital arm of Bain Capital, valuing the firm at over $970m. “This funding round demonstrates the strength of the business and [...]
Tide to introduce new business payroll service in 2021 December 17, 2020 Business fintech firm Tide has announced that is it to release its first payroll service via its banking app in early 2021. Tide Payroll will be HMRC compliant and will allow SMEs to conduct their payroll from within their Tide account with an all-in-one payroll service that will allow users to run payroll and pay [...]
Exclusive – Fintech tsar Charlotte Crosswell: ‘Our sector is not a fair and inclusive place’ December 16, 2020 As CEO of Innovate Finance, Charlotte Crosswell is Britain’s leading champion of innovative technologies in banking and finance. On behalf of the the not-for-profit group, which was founded in 2014 and supported by the City of London, she works closely with the Bank of England and the Treasury to support fintech solutions and pushes the [...]
Curve and Plaid team up to bring open banking to UK customers December 16, 2020 Curve, a smart banking platform, has joined forces with Plaid, an open finance data network, to help people manage their money.
Revolut launches Plus account as it expands fee-paying services December 16, 2020 Revolut is set to revamp its paid plans while also launching its latest subscription option, Revolut Plus. Revolut’s new Plus service will cost £2.99 a-month and will include theft and accident coverage alongside purchase protection up to £1,000 for a year. Under new plans Premium customers will be protected up to £2,500 while Metal customers [...]