EU referendum: One way Brexit could actually be good for UK fintech April 11, 2016 The UK's prospering fintech sector has been urged to speak up in favour of remaining in Europe ahead of June's referendum and largely backs staying. But, there could be one serious advantage to leaving the union, some experts suggest If Britain were to leave, there would be a greater opportunity for innovative technology startups to disrupt the world of [...]
Britain’s financial regulator is the first to launch a fintech accelerator April 11, 2016 The FCA is getting experimental with fintech. The financial regulator is launching an experimental scheme which will allow new financial technology companies to test out innovations which are as yet unregulated to foster innovation in the market. The so-called sandbox project is the first of its kind to be directly led by a financial regulator [...]
Digital mortgage broker aims to bring market into “21st century” and save consumers £29bn after securing £1.55m in seed funding April 11, 2016 A digital mortgage broker aiming to save consumers up to £29bn a year launched today after securing £1.55m in seed funding. Habito said it was “taking aim at the £95bn mortgage broking market, one of the only pillars of the consumer finance sector yet to benefit from technological disruption”. The startup uses technology to analyse every [...]
What’s the future of finance? Here’s what those in the know say April 11, 2016 We asked those in the know – from challenger banks and traditional banks to fintech startup stars – what's future of financial services? As the Innovate Finance Global Summit kicks off, here's what the experts had to say. Taavet Hinrikus, chief executive and co-founder, TransferWise "In five years’ time, some parts of the sector will be almost universally controlled by [...]
Now Nationwide is testing behavioural biometrics instead of pins and passwords for logging on to online banking April 10, 2016 Pins and passwords are so passe. Nationwide is the latest financial institution to explore new ways of verification and authentication, testing out a new method of accessing your bank account based on how you use your phone – from the way you hold it to the speed you type. And with 70 per cent of us [...]
EU referendum: City of London Corporation chief in Brexit warning to the capital’s fintech sector April 8, 2016 London's multi-billion pound fintech sector is being urged by the City of London Corporation to speak up in favour of Britain staying in the European Union. In a speech to be delivered on Monday, the Corporation's policy chairman Mark Boleat will say: “It is far better to have ‘entrepreneurs for Europe’ than ‘bankers for Brussels’ [...]
Bank worries over fintech and an approaching “Uber moment” are subsiding, new research finds April 7, 2016 Bank worries over fintech and an approaching "Uber moment" are subsiding, a new study suggests. A survey of 127 finance industry professionals by Autonomous Research found that while fintech is seen to matter more, the perceived “Uber risk” is receding. Read more: Fintech is coming to take your banking job Nine per cent of those surveyed said [...]
Blockchain just had two major firsts with new social payment app Circle, Barclays and Britain’s financial regulator April 6, 2016 London may be the centre of fintech innovation, but there’s one huge trend we’ve failed to jump on board with yet – social payment apps. Messaging your mate with that fiver you owe for last night’s round at the pub and a big smiley face emoji is pretty common in the US and China, especially [...]
These are the hottest 50 fintech companies right now (and half are from London) April 5, 2016 London continues to dominate the world of financial technology with more than half of the hottest fintech startups located in London. Of the 50 startups to make the Fintech50, a comprehensive annual list of the best new businesses disrupting finance and chosen by leading venture capitalists and top tech execs, 29 were spawned in London. The newly [...]
Barclays customers can now use Apple Pay… finally April 5, 2016 It's been a long old wait, but Barclays has finally jumped on board the Apple Pay bandwagon. Barclays is the last of the major banks to support Apple Pay in the UK, letting customers pay with just the swipe of their iPhone or Apple Watch. “Since we introduced contactless to the UK in 2007, it’s [...]