HSBC seals $300bn price tag as FTSE 100 banks rally January 27, 2026 Shares in Britain’s banking giants were helping lift the FTSE 100 out of the red this morning as blue-chip lenders rallied ahead of earnings season. HSBC topped the index’s risers with a gain of nearly three per cent to 1,278.20 – an all-time high for Europe’s largest lender. The rally came after Citigroup raised the [...]
Monzo outage hits app as digital bank wobbles January 13, 2026 Monzo Bank’s customers were left frustrated after the online bank suffered a widespread app outage, temporarily knocking out key features while core banking services continued to work. Shortly after 3 pm on Tuesday, users across the UK began reporting problems accessing parts of the bank’s app, according to outage-tracking site DownDetector. Reports seemed to spike [...]
Wrexham-based Chetwood Bank takes on London rivals with £1bn jump in deposits December 23, 2025 Chetwood Bank has seen a near-£1bn jump in customer deposits as the Wrexham-based business wrestled market share from London fintech rivals. The Welsh digital bank, owned by US investment fund Elliott, posted a £960m increase in customer deposits in the year to March, bringing them to £3.8bn, a rise of just over a third, according [...]
Banks set to escape tax raid from Rachel Reeves after lobbying November 6, 2025 Rachel Reeves is expected to avoid a cash grab on Britain’s banking titans in her forthcoming autumn Budget after the industry flagged concerns around international competitiveness. The Chancellor is understood to be hesitant on targeting the banks for a cash raid after a string of warnings from top industry chiefs on the impact on economic [...]
Hyperlayer lands £30m to help legacy lenders take on fintechs October 15, 2025 London-based fintech Hyperlayer has secured £30m in fresh funding to support its mission to help established banks compete with digital first rivals. The firm’s tech is designed to work alongside existing banking infrastructure, which it says allows the legacy businesses to launch new products without complexity. Ex-Morgan Stanley International chief Rob Rooney, who found Hyperlayer [...]
Close Brothers looks to ‘accelerate’ after ‘messy’ year October 1, 2025 Close Brothers is hoping to switch gears and “accelerate” after the motor finance scandal had the bank stuck in a rut. The specialist lender’s share price has swerved between a low of 185.00 and peak of 555.00 over the last 12 months. The car misselling saga has been the driving force of stock woes, sending [...]
London fintech eyes IPO as Klarna’s listing puts pressure on the City September 15, 2025 UK card reader firm SumUp is weighing a stock market listing that could value it at up to $15bn (£11.04bn) – a move that could deliver a rare win for the London Stock Exchange, though the firm is also considering New York amid doubts over the City’s appeal. The London-based fintech, which makes card readers [...]
Klarna could trigger a fintech IPO boom but can London benefit? September 11, 2025 Klarna’s hot debut on the New York Stock Exchange has opened the doors for a flood of fintech listings but analysts are raising concerns whether the London market can enjoy this new stream. The Swedish fintech unicorn’s stock popped 15 per cent from its IPO price of $40. Shares closed at $45.82 after raising $222m. [...]
One time passcodes fuel rise in digital wallet fraud August 28, 2025 Warnings have emerged over the security of digital wallets, following a report by consumer group Which? found widespread use of easily compromised one-time passcodes (OTPs) by some banks, leaving customers increasingly open to fraud. The investigation, which surveyed fifteen high-street and digital banks, found that the majority are still relying on SMS OTPs to verify [...]
UK fintech Starling’s profit tumbles as regulatory failings linger May 28, 2025 UK fintech veteran Starling recorded a drop in annual profit for the financial year as it battled with a more competitive fintech landscape and mounting costs. The neobank recorded £223m in pre-tax profit, which was down from £301m the previous year. This came as operating costs ramped up to £403m, from £332m, helping offset modest [...]