Wise makes more interest rate hay as income surges 66 per cent July 18, 2023 Wise, the money transfer firm, said the amount of interest income it was raking in on customer balances has continued to rise after it made hay from rising rates last year. In a trading update today, Wise said balances in its customers’ accounts had grown to £11.5bn in the first three months of its financial [...]
Plans to shelve buy-now pay-later rules ‘incredibly concerning’, says Which? July 17, 2023 A top campaign group has sounded the alarm today after it emerged that the government is preparing to shelve plans to clampdown on the buy-now pay-later (BNPL) sector.
Shares in fintech Fiinu fall over 60 per cent as banking licence slips out of reach July 12, 2023 The survival of fintech firm Fiinu was left hanging by a thread on Wednesday after it confirmed that it had not secured enough funding to resubmit its application for a banking licence. Shares in the AIM-listed digital lender, which offers short-term credit to customers, were trading 66 per cent lower after it updated the market [...]
Nutmeg co-founder Nick Hungerford dies aged 43 July 11, 2023 Co-founder of investment app Nutmeg, Nick Hungerford, has died at the age of 43 having been diagnosed with a rare form of bone cancer in 2019. “We are deeply saddened to share the news of Nick’s death,” his charity said in a statement today. “In loving memory of our founder, our work to make sure [...]
Plus500 cashes in on global growth push as profits rise July 10, 2023 Fintech trading platform Plus500 said today it was reaping the rewards of its global growth push as the firm reported a boost in profits and revenues in the first half of the year. The London-listed Israeli firm said revenues jumped 15 per cent to $368.5m in the first six months of the year while its [...]
Augmentum: London-listed fintech fund rides out volatility as portfolio edges upward July 4, 2023 Listed fintech fund Augmentum reported a bump in the value of its portfolio today as it shrugged off the volatility that has hammered tech and fintech firms globally over the past year.
LendInvest given £500m investment boost from Chetwood to fund buy-to-let mortgages July 3, 2023 LendInvest, the London-listed property fintech, has received a £500m investment boost to fund some of its future lending from Chetwood Financial. The investment will fund mortgage originations from LendInvest’s buy-to-let mortgages, aimed at professional landlords, and residential mortgages, for those underserved by high street mortgage providers. Chetwood, a Wrexham-based digital bank, has become the latest [...]
Starling Bank: Five things that defined Anne Boden’s time at the top June 30, 2023 The chief and founder of digital lender Starling Bank Anne Boden will hand over the reins to her number two today as she steps back from the top job after nine years. Boden has undoubtedly blazed a trail in British banking. The Swansea native remains the only woman to have launched a bank in the [...]
CAB Payments chief: Why we’re listing in London June 29, 2023 Bhairav Trivedi, the chief of Sutton-based money transfer firm CAB Payments, tells Charlie Conchie why he's listing in London
UK urged to take post Brexit payments lead after EU publishes bold plan June 28, 2023 The UK payments industry urged regulators and legislators to take a bold approach to new rules following the publication of the EU’s latest proposals. In a landmark set of regulations, the European Union (EU) will deepen and extend open banking, put in place greater fraud protections and give regulators more firepower to enforce the rules. [...]