GPS points way for fintech’s future October 21, 2020 | Sponsored When the government launched the independent review of the UK’s fintech sector three months ago, the mood music was warmly received by Joanne Dewar. “The UK is one of the leading places in the world to start and grow a fintech firm, and I am determined to ensure this continues,” John Glen, economic secretary to [...]
Monzo launches Premium account as it expands fee-paying services October 20, 2020 Monzo has today launched its premium service which comes with phone and travel insurance as it works to convince more customers to pay for its services. The premium card builds on Monzo Plus, the fintech’s £5 per month product it launched in July. Chief product officer Mike Hudack told City A.M.: “Monzo Plus gives us [...]
The Banking Dilemma: Do we really want Big Tech to control our financial data? October 20, 2020 “If something is a tool, it is genuinely just sitting there, waiting patiently. If something is not a tool it’s demanding things from you… seducing… manipulating; it wants things from you.” This damning indictment of social media platforms is one of many from industry insiders featured in the latest must-watch Netflix documentary, The Social Dilemma. [...]
More important for US to be right than first on digital currency, says Fed’s Powell October 19, 2020 It is more important for the US to get the development of a cross-border digital currency (CBDC) right than to be first, Federal Reserve chair Jerome Powell said. Speaking to a panel discussion hosted by the International Monetary Fund, Powell said it was vital for the Fed to assess the impact of such a currency [...]
London fintechs secure billions from US investors despite virus and Brexit uncertainty October 16, 2020 London fintechs have secured $3.6bn in venture capital investment this year with more than half coming from US investors. Fintechs received $2.2bn, more than 60 per cent of overall investment, through funding rounds with at least one US investor, according to data from Dealroom and London & Partners. It is nearly double the US funding [...]
Christmas isn’t cancelled — Santa is accepting buy now, pay later October 13, 2020 One thing’s for sure: we’re going to be tempted to spend more than ever this Christmas, because 2020 has not been a joyful year. Let’s face it, if 2020 were a wine, it would be reduced to being a bin-end, and a pretty poor one at that. But as furlough unwinds, and with a no-deal [...]
Exclusive: New £90m fund chases proptech startups across UK and Europe October 6, 2020 A new investment vehicle that will invest in real estate-technology companies in Britain and across Europe has been launched. BNP Paribas Real Estate, the property arm of BNP Paribas, has joined venture capital firm Fifth Wall, which launched the European Proptech Fund. The vehicle aims to invest in fast-growing European property technology-focused startups, or proptech. [...]
Bitcoin banking app Mode lists on LSE’s main market October 5, 2020 Bitcoin banking app Mode has started trading on the London Stock Exchange, in the latest sign that life is starting to return to the capital’s IPO market. The UK fintech today listed on the LSE’s main market, raising £7.5m by way of a placing of 15m new ordinary shares. It is considerably more than the [...]
London fintech Currensea launches product for small businesses October 5, 2020 London-based fintech Currensea has today launched a debit card for SMEs, built on open banking, to help with overseas transactions. The first-of-its-kind debit card enables small businesses to make international transactions through their existing bank account without any bank charges and with low fees competitive with leading challenger banks. The new Mastercard, which costs just [...]
Kazakhstan fintech Kaspi plans London IPO October 2, 2020 Kazakh banking and fintech firm Kaspi has confirmed plans to float on the London Stock Exchange this month. Kaspi, which controls the third-largest bank in Kazakhstan, said it plans to sell new and existing shares by listing its Global Depositary Receipts (GDRs) on the stock exchange. The company did not reveal what stake its shareholders [...]