Fintech firm Transferwise in early stage talks to team up with banks in the UK December 21, 2015 London fintech firm Transferwise is set to partner up with the banks it has previously accused of “scamming” customers. The money transfer firm has announced it is in early stage talks with up to 20 banks around the world, including established and challenger banks in the UK, to embed its services in their online banking [...]
Fintech adoption could double among digitally active consumers in the next year December 21, 2015 Consumers' love of technology is growing at such a pace that their adoption of financial technology (fintech) could double in the space of a year. According to a survey of more than 10,000 digitally active consumers from around the world released today by EY, 16 per cent have used at least two fintech services in the last six months, [...]
Fintech challengers like Square, ApplePay and Funding Circle could undermine banks’ credit ratings in 2016 according to Standard & Poor’s December 16, 2015 The rise of fintech is challenging traditional banks, and could even undermine their credit rating, according to Standard & Poor's. The ratings agency expects global investment in 'non bank' financial service to be worth $24bn (£16bn) this year, double the figure in 2014. Traditional banks are still trying to adapt to the low interest rate, and [...]
Former Barclays chairman Sir David Walker joins London blockchain startup SETL December 15, 2015 A former Barclays chairman and City veteran has joined a London-based fintech startup underpinned by the blockchain in another major signal that the technology is gaining traction in the banking world. Sir David Walker, who chaired Barclay between 2012 until earlier this year, will chair SETL, a blockchain-based payment processor and settlement company. Walker is a veteran of the banking world [...]
Forget a fintech bubble: 2016 will be the year this booming market finally gets serious December 14, 2015 In 2015, global fintech investment will top $20bn, up from $12bn in 2014. There are wide-ranging estimates of the number of fintech players around the world today, but some say it’s surpassed 10,000. In China, there are over 2,000 marketplace platforms alone. The big banks are clambering over one another to invest in (or play [...]
Fintech 100: UK dominates KPMG’s global list of top fintech firms of 2015 with Transferwise, Funding Circle and Atom Bank December 14, 2015 As if you needed more proof that the UK fintech scene is booming… The UK is dominating a list of top fintech firms, with more emerging firms than any other country in the world, according to KPMG’s “Fintech 100”. The list of the leading fintech firms of 2015 is made up of 50 established firms [...]
Five ways London companies can recruit top talent to technology jobs December 14, 2015 1. It’s not all about the money We find 80 per cent of candidates accept interviews based on factors other than the highest salary offered, so take the time to promote what makes your company unique in order to engage candidates. For early stage startups that can’t compete with larger companies on salary, perks like flexible working hours [...]
Fintech predictions 2016: Blockchain and bitcoin unicorns will give way to “thoroughbreds” December 13, 2015 More good news for bitcoin, and the blockchain technology that it builds upon: At least five startups with $1bn valuations are expected to emerge within the next year, according to M&A advisers Magister Advisors. The advisers have been gazing into their crystal ball for next year, and foresee good times ahead for bitcoin firms, predicting [...]
Which countries are London companies hiring tech talent from? San Francisco, even with the capital’s 37 per cent smaller salaries December 10, 2015 London's search for the top tech talent goes beyond the capital, and even the country, with a quarter of jobs filled by someone from outside the UK. Candidates in San Francisco, the epicentre of technology and home to Silicon Valley giants such as Google and Facebook, received more offers from London companies than those in any other location. [...]
Sequoia Capital just made a big bet on insurance tech with $13m Lemonade investment December 8, 2015 Sequoia Capital, one of the world's leading venture capital firms which was an early backer of Apple, Google and Yahoo, has invested millions in a fintech startup with designs on disrupting the insurance world. New York-based Lemonade, a p2p insurance company which has yet to launch, has landed $13m (£8.7m) from the Sequoia and London-based VC firm Aleph Capital. It's [...]