Through technology, crime is closer than you think November 21, 2019 Money laundering often gets a laugh: the laundrette at the end of the road that’s never open to launder clothes, a running joke about a dodgy colleague, or the time a friend inadvertently cleaned cash for a bloke they met in a pub when you were students. But the reality is that the pervasiveness of [...]
London Stock Exchange hires fintech to widen access to IPOs November 21, 2019 The London Stock Exchange (LSE) has signed a deal with online investment platform Primarybid to give retail investors access to share offerings on the same terms as institutional investors. Under the deal, which was announced today, the pair will unveil digital infrastructure enabling companies that are listed listed or listing on LSE to include individual [...]
Challenger banks yet to overcome Brits’ lack of trust, study finds November 20, 2019 Two fifths of Brits don’t trust challenger banks at all, while over half are worried technology will put their data at risk, according to a new study. The research, conducted by Fujitsu, suggests that concerns over security are slowing the British public’s adoption of technology. Read more: Trading giant Robinhood makes its UK debut in [...]
Trading giant Robinhood makes its UK debut in Revolut challenge November 20, 2019 US fintech Robinhood, a commission-free trading startup valued at $7.6bn (£5.9bn), has today arrived in the UK. The firm’s stock trading service is making its international debut, in a direct challenge to established British rivals Freetrade and Revolut. Robinhood will today roll out the waiting list for its popular app to UK investors, with a [...]
Equiniti shares slump as earnings set for bottom end of guidance November 19, 2019 Equiniti, the British-based financial services business, saw it shares fall over 10 per cent this morning after it announced that its full year earnings would be towards the lower end of market expectations. Read more: FTSE 100 rallies on trader optimism over US China deal In a trading update, the company said earnings for the [...]
London’s fintech boom helps drive record year for US investment November 18, 2019 US venture capital firms have pumped record amounts of money into London and UK companies this year as flourishing fintech firms continue to charm investors, new data has revealed. American investors have been involved in $4.4bn (£3.4bn) worth of deals into UK firms so far in 2019, with London businesses accounting for more than three-quarters [...]
Banks are under threat – and this time it’s personal November 13, 2019 The launch of Uber Money, which provides payment and banking services to the company’s drivers, is an example of the next big trend in banking — the rise of the so-called “non-bank”. The establishment of a financial product for non-banks goes beyond simple revenue growth. It is about establishing loyalty, and in the case of Uber, loyalty [...]
Revealed: The 50 fastest growing tech companies in the UK November 8, 2019 Firms based in London dominate a new ranking of the 50 fastest growing tech companies in the UK. Fintech bank Revolut took poll position as the technology firm with the quickest revenue expansion in the index, compiled by audit firm Deloitte. Read more: Gocardless and Transferwise join forces for global recurring payments service Revolut racked [...]
Peer-to-peer lender Zopa makes banking debut as pressure mounts November 7, 2019 Zopa, one of the UK’s three largest names in peer-to-peer lending, is to launch its first foray into banking after receiving partial authorisation last year. The debut comes as the peer-to-peer sector is facing scrutiny from regulators and falling demand from investors, placing pressure on the likes of Zopa and its rivals. The firm said [...]
Revolut’s information security chief has left the firm after just two months in the job November 6, 2019 Revolut’s chief information security officer (CISO) Dinis Cruz has quit less than two months after he joined the firm. Cruz announced last week that he will leave the challenger bank this month, in a move described as being “by mutual agreement”. Read more: Martin Gilbert to step down from Stand Life and join Revolut He said [...]