Monzo relaunches premium accounts in third profit-chasing attempt July 16, 2020 Monzo is today relaunching its paid-for Plus account, in a near complete overhaul from its previous iteration that was scrapped last year. The new account will utilise open banking rules to allow users to view and move money from different bank and credit card accounts within the Monzo app, in a direct challenge to fintech [...]
DEBATE: With the economy under such strain, should new fintech regulation be paused? July 15, 2020 With the economy under such strain, should new fintech regulation be paused? Elisabeth Kohlbach, co-founder and chief executive at Skwire, says YES. The UK’s fintech scene is one of the most vibrant and well-regulated in Europe. And in extraordinary times, this UK success story needs to be nurtured, not subject to more red tape. The [...]
Crypto exchange Coinbase aims for Wall Street listing July 9, 2020 Coinbase, one of the world’s largest cryptocurrency exchanges, is said to be preparing to publicly list its shares in New York. The listing could come as early as this year, sources told Reuters. Should its application be approved by US regulators, Coinbase would be the first major US cryptocurrency exchange to go public. It would [...]
Transferwise to hit $5bn valuation in secondary share sale July 6, 2020 British fintech stalwart Transferwise is to secure a $5bn valuation on the close of a secondary share sale this week, cementing its place in the sector’s upper echelon of tech companies. Transferwise is close to finalising the $300m sale, which will allow staff and early investors to offload part of their stakes, people close to [...]
Transferwise gets FCA authorisation for investing July 1, 2020 Transferwise has been granted multiple new licences by the Financial Conduct Authority, which means it will soon allow users to earn a return on account funds. Transferwise offers banking accounts to users in the UK, the EU, the US, Australia, New Zealand and Switzerland, but does not hold a full bank licence. The new licences [...]
London Stock Exchange enters talks to buy stake in Primarybid June 30, 2020 London technology startup Primarybid is in talks to sell a chunk of its business to Britain’s stock exchange, following a successful partnership between the pair. London Stock Exchange Group (LSEG), the parent firm behind the London Stock Exchange, has entered detailed discussions with Primarybid about an investment, Sky News reported. Primarybid is an everyday investing [...]
Digital wealth manager Moneyfarm hits £1bn assets under management June 30, 2020 Moneyfarm has become the latest digital wealth management company to have more than £1bn in assets under management, it announced today. The milestone comes eight years after the launch of the company, which started out in Italy. Now UK-based, it boasts more than 45,000 customers in Britain, Italy, and Germany. At the end of 2019, [...]
Wirecard’s UK subsidiary scrambles to avoid collapse June 29, 2020 Thousands of UK consumers have been unable to access their cash, as financial apps relying on Wirecard technology were frozen after the German payments firm filed for insolvency last week. Wirecard’s UK subsidiary, Wirecard Card Solutions (WCS), said it was “working hard” to restore operations after the Financial Conduct Authority (FCA) on Friday ordered the [...]
The UK is setting fintech trends in the wake of COVID-19 June 29, 2020 | Sponsored Much has been written about the greatness of the UK fintech hub as one of the world-class locations that keeps setting global fintech trends. The UK used to be THE global fintech hub, thanks to combined efforts by regulators, governments, the great tech and finance talent pool, and famous startups that were born here. The [...]
How Fintech can help during and after COVID-19 June 29, 2020 | Sponsored In the coming weeks, tools that support the financially vulnerable will come to the fore. Fintech has the capacity to support the most vulnerable with affordable credit and promote financial wellness. The COVID-19 crisis has sent shockwaves through the UK economy. Many companies have applied for business support, with around 8.7 million jobs currently furloughed [...]