Revolut, Monzo and Wise: The UK fintechs slapped with the most complaints May 9, 2025 Fintechs may be giving banks a run for their money on innovation, but fresh data reveals they’re also competing on the unenviable field of complaints. New figures from the Financial Ombudsman Service (FOS) showed Monzo and Revolut topped the fintech industry for the most complaints. Both firms’ customer bases swelled to over 10m users in [...]
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 [...]
Inside the rapid rise of UK fintech April 27, 2025 There’s a rocket strapped to UK fintech, and it’s only speeding up. On 28 April, UK fintech week kicks off, with industry body Innovate Finance hosting its 11th global summit. This follows another record year for the industry, where businesses saw profits balloon and customer bases swell. Allica Bank – a London-based fintech – was [...]
Zopa Bank: UK fintech doubles profit amid IPO speculation April 24, 2025 Digital bank Zopa doubled its pre-tax profit in its second full year of profitability as the London fintech continued its upward trajectory ahead of a possible IPO. The Canary Wharf-based business pocketed £34.2m in the 2024 financial year, up from £16.8m in 2023. Revenue grew 30.2 per cent to £303.4m. This was driven by an [...]
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 [...]
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 [...]
UK surges ahead of France and Germany as Europe’s ‘innovation powerhouse’ April 14, 2025 HSBC Innovation Banking, a subsidiary of Europe’s biggest lender, hailed the UK’s enterprise value in its latest innovation report. UK innovation firms raised £3.2bn of venture capital in the first three months of the year – an eight per cent increase from the first quarter of 2024. The quarter attracted higher amounts of funding, with [...]
UK fintech Clearbank bolsters fee income amidst European expansion April 7, 2025 London-based fintech Clearbank announced full-year results for the first time at group level following the business’ expansion across Europe. The firm, which is an enabler of real-time clearing and embedded banking, reported a 63 per cent increase to £53.3m in its fee-based income. Total deposits managed by the fintech reached £10.8bn – up 77 per [...]