Exclusive: Criminals eye windfall from UK regulator’s controversial fraud refund plan August 16, 2024 Criminals are making plans to exploit incoming fraud refund rules from the UK payments regulator, City A.M. has learnt, as banks and fintechs warn of harm to consumers if the measures come into force unaltered.
Revolut achieves $45bn valuation in employee share sale August 16, 2024 Revolut has cemented its position as Europe's most valuable private technology company after securing a $45bn (£34.9bn) valuation in a share sale by employees.
Treasury plans talks with Revolut as fintech giant favours US listing August 16, 2024 The UK government is seeking to highlight London's attractiveness in planned talks with Revolut, as Britain's biggest fintech reportedly favours the US for a potential blockbuster IPO.
Monzo celebrates fourth year on top of bank satisfaction rankings August 15, 2024 Monzo has once again taken first place in an official league table measuring whether customers would recommend their bank to friends and family, with the firm marking four years in the top spot. The digital-only bank, founded in 2015, has topped the Competition and Markets Authority’s (CMA) biannual current account satisfaction ranking since August 2020, [...]
OneSavings Bank shares tumble as rising mortgage competition prompts guidance downgrade August 15, 2024 Shares in FTSE 250 lender OneSavings Bank (OSB) dropped as much as 19 per cent on Thursday after the group lowered its forecasts for the full year on the back of rising competition in the mortgage market.
Citi removes EU-imposed bonus cap for top London bankers August 14, 2024 Citigroup has become the latest Wall Street bank to scrap an EU-imposed bonus cap, paving the way for it to award bigger payouts to some of its top London staff.
Secure Trust Bank upgrades cost-cutting target as FCA review weighs on earnings August 14, 2024 Secure Trust Bank has ramped up cost-cutting efforts, while a review by the City regulator affecting its vehicle finance arm weighed on the firm's earnings in the first half of 2024.
UBS profit smashes analyst estimates as it steps up Credit Suisse integration August 14, 2024 Swiss banking titan UBS has reported a profit well ahead of analysts' forecasts for the three months to June as it steps up its integration of fallen rival Credit Suisse.
Unicorn digital bank Oaknorth to award first dividend after bumper profit August 13, 2024 Digital challenger bank Oaknorth has agreed to award its maiden dividend to shareholders after the fintech unicorn enjoyed a jump in profit last year.
Treasury questions payments regulator on deadline for controversial fraud refund rules August 13, 2024 The Treasury has reportedly raised questions with the UK payments regulator over the timetable for its new fraud refund rules that have stirred alarm among banks and fintechs.