Rachel Reeves has promised UK fintech the world – now she must deliver May 4, 2025 Judgement day looms for Rachel Reeves, and UK fintech will be handing her the verdict. In a keynote speech at Innovate Finance’s 11th global summit, the Chancellor confirmed the Treasury’s inaugural Financial Services Growth and Competitiveness Strategy would be published on 15 July. Reeves has lauded the industry’s growth and touted the achievements of fintech [...]
UK fintech Revolut expands lifestyle reach with mobile plans April 30, 2025 Revolut is to offer mobile plans to customers as the UK fintech continues to diversify its product range. The Canary Wharf-based business is looking to enter the mobile market in the UK and Germany later this year before eying further market expansion. Revolut said its plans will include unlimited calls, texts and data at home, [...]
Reeves unveils new crypto rules as she promises to back UK fintech April 29, 2025 Chancellor Rachel Reeves pledged to back UK fintech as she unveiled new crypto rules during a landmark address to industry executives on Tuesday. Speaking at Innovate Finance’s 11th global fintech summit, Reeves pledged to support growth and consumers through new “clear” outlines for digital assets. The fresh crypto legislation follows on from the Treasury’s launch [...]
Rate setter calls for market digitalisation and touts Bank of England’s flexibility April 29, 2025 Bank of England rate setter Dave Ramsden has called for bold action on digitalisation in a rebuke of concerns that the Bank’s prescriptive rules were stifling innovation. Speaking at the Innovate Finance Global Summit on Tuesday, the central bank Deputy Governor said widespread innovation in wholesale financial markets from authorities and industry would boost the [...]
Plus500 raises guidance despite revenue dip April 28, 2025 Fintech group Plus500 has raised its outlook for the year despite reporting a mixed start to the year. Its share price dipped 1.6 per cent in early trades. The company told markets this morning that revenue in the first quarter of the year increased by 13 per cent month on month but fell by five [...]
Jorginho-backed investing app Gather Being re-emerges from administration April 22, 2025 An investing app backed by Arsenal star Jorginho has been re-launched after being put in administration, City AM can reveal. Gather Being, which was founded as Gather in 2019, was launched in the summer 2023 after the Italian midfielder acquired a 10 per cent stake. But within months the startup was issued a winding-up petition [...]
Clearbank, Allica, Atom: The fast-growing future of UK fintech April 19, 2025 Fintech has planted its flag firmly in the Square Mile. Industry giants Monzo and Starling have become household names, helping London to established itself as a leading global fintech hub. KPMG’s bi-annual fintech report showed UK fintech investment was at £7.9bn last year. And now young firms are growing faster than ever, promising to send a [...]
Analysts ‘bullish’ on UK fintech Wise despite tariff threat April 16, 2025 Wise’s trading update left analysts with a “bullish outlook” on the money transfer firm, but they warned of a tariffs threat. The UK fintech pocketed £350m in underlying income for the fourth quarter – a 13 per cent jump year-on-year. International payments bolstered the firm’s intake, soaring 28 per cent to £39.1bn. This offset a [...]
The UK’s fastest growing fintech Allica Bank delivers another record year April 16, 2025 Allica Bank, the UK’s fastest growing fintch, nearly doubled its profit in the last year after another period of rapid growth. The digital bank, which caters towards small and medium-sized enterprises (SMEs), increased pre-tax profits 86 per cent to £29.9m. Lending activity grew over £1bn in 2024 and revenue shot up 68 per cent to [...]
Income at UK fintech Wise jumps as payment volumes soar April 15, 2025 Money transfer firm Wise posted an increase to fourth quarter income driven by growth in international payments. The fintech, which enables digital payments for consumers and businesses, booked an underlying income of £350m for the fourth quarter. This was a 13 per cent increase from the previous quarter. Cross-border volumes soared 28 per cent to [...]