An early investor in UK fintech unicorn Transferwise has reduced its stake January 31, 2017 An early backer of one of the UK's most successful fintech startups has sold a minority stake in the unicorn-valued firm in a private secondary share trading deal. Seedcamp, which has also invested in eMoov and BorrowyDoggy, last year sold of some of its shares in Transferwise, the money transfer startup with a valuation of more [...]
Why could digital tech reach over $2.7 trillion by 2020? January 30, 2017 | City Talk Whether it’s big data, artificial intelligence (AI), cloud storage or cyber security, the effects of digital technology development are all around us. Recognised as the third industrial revolution, we are experiencing one of the most transformative periods in history. Digital – transforming our industrial society In 2001, a group of software developers met at the [...]
Mark Carney’s fintech critique should be a wake-up call for a sector used to plaudits January 27, 2017 The fintech sector is so used to being publicly lauded that this week’s comments by the governor of the Bank of England will have come as a shock. Despite claiming London as the fintech centre of Europe and exulting its potential, Mark Carney made clear fintech’s rise could disrupt the established financial sector – raising [...]
Forget Berlin, Dublin and Paris – Asia’s a bigger rival to London fintech regardless of Brexit January 26, 2017 As Germany, France and Ireland attempt to woo London's fintech firms to their respective capital cities after the Brexit vote, one of the UK's top VCs has warned the industry should be more concerned with the rise of Asia as a fintech powerhouse rather than other European cities. In the long-term, the continent's prominence in financial technology is likely [...]
Is blockchain a “new operating system for the planet”? Barclays vice chairman Jeremy Wilson thinks so January 25, 2017 Blockchain has the potential to become “a new operating system for the planet” in a generation’s time, while mainstream commercial use is likely to happen within the next decade, one of Barclays’ top executives believes. “I don’t think I’ve heard it mentioned as anything other than a significant opportunity,” said its corporate banking vice-chairman Jeremy Wilson. [...]
Metro Bank boss: Branchless banking reduces customer choice January 25, 2017 Like Deliveroo and Uber, banks should mix the physical and digital according to Metro Bank chief executive Craig Donaldson. The challenger bank boss said not giving customers the opportunity for face to face interaction is taking away choice. Metro Bank has 48 branches at present, but Donaldson said its target is 250 or maybe 300 [...]
David Harrison, co-founder of Positive Solutions and True Potential, talks tin baths, skinny men with beards, Boris and why we need a Super Isa January 23, 2017 An article was doing the rounds on Twitter last week: Don’t let Boris Wooster bugger up Brexit. This is how David Harrison, founder of two multi-million pound financial services firms and former builder, feels about our irrepressible foreign secretary. “He’s not helping Theresa, is he? A loose cannon who walks on sounding like he’s just [...]
How blockchain technology could revolutionise global trade January 20, 2017 Blockchain technology could revolutionise trade – making it cheaper, quicker and simpler for businesses to trade internationally. From “letters of credit” to “bills of lading”, merchandise trade today is heavily reliant on paper documents. In our digital, connected world, there is a growing need to modernise trade’s many paper-based processes. Digitisation would reduce bureaucracy, improve [...]
The gateway to a new business order: Why crowdfunding is just the start of the next era of organisations January 19, 2017 A new campaign appeared on crowdfunding platform Crowdfunder this week. Scottish energy firm Our Energy is raising £450,000 to set up an alternative gas and electricity provider. Fed up with Big Six high tariffs and just “lining shareholders’ pockets”, founders David Pike and Karen Snode decided to start a competitor, with plans to be operational [...]
The French Touch Abounds in Tech January 18, 2017 The French tech scene has the most active sovereign wealth funds in the world, according to research firm, CB Insights. Two French funds make the top half of the top-ten, which also includes state funds from Singapore, Malaysia, Kuwait, Qatar, Saudi Arabia and China. France’s Banque Publique d’Investissement (Bpifrance) sits atop the list as the [...]