Revolut: Fintech hits 10m UK customers as aggressive growth strategy pays off September 20, 2024 Fintech giant Revolut has reached 10m customers in the UK, solidifying its position as one of the country’s largest fintechs. The company, which has recorded rapid growth over the past few years, added nearly 2m customers in 2024 alone. The achievement follows several high-profile developments for Revolut, including its recent secondary share sale, which valued [...]
Revolut investor backs Gen Z credit card fintech Yonder September 19, 2024 Credit card start-up Yonder has exceeded a post-money valuation of £100m as it secured another £23.4m in its latest funding round, led by one of the early investors of fintech app Revolut. The credit card rewards firm, which is geared towards millennials and Gen Z consumers, plans to use the latest injection of funding to [...]
Revolut readies for India launch in 2025 amid aggressive expansion September 17, 2024 Revolut is planning to launch in India next year, targeting top-tier consumers in the world’s most populous nation as part of aggressive expansion efforts. The London-based banking app is eyeing up a slice of India’s lucrative fintech market, which serves millions of consumers within its growing middle class who previously had limited access to financial [...]
The new payments architecture and Bacs September 17, 2024 | Sponsored Liz Carroll, Senior Product Manager, Financial Marketplaces at Finastra You might have heard that there are plans to modernise some of the key UK payment rails and wondered how these updates will affect your payment processes. In this article, we explore what the changes are and why they are needed. Let’s start at the beginning; [...]
Navigating ISO 20022 in the Bacs world September 17, 2024 | Sponsored Liz Carroll, Senior Product Manager, Financial Marketplaces at Finastra As organisations and financial institutions look for new ways to pay in a growing payments landscape, using a common language for all financial messages allows participants and systems in different markets to communicate in a single, consistent format using agreed terminology. ISO 20022 is a global [...]
A quick guide to the key UK payment rails September 17, 2024 | Sponsored Liz Carroll, Senior Product Manager, Financial Marketplaces at Finastra There are a range of payment rails available in the UK; some widely applicable while others work better for companies operating in certain circumstances. But what is a payment rail? Payment rails refer to the underlying infrastructure and systems that facilitate the movement of money between [...]
Fintel warns of lower full-year earnings after acquisition spree September 17, 2024 Financial services support provider Fintel posted revenue and earnings growth in its half-year results for the six months ended 30 June 2024. Still, it warned of lower full-year earnings following an acquisition spree this year. The AIM-listed company posted total revenue growth to £35.7m for the first half of 2024, up 13 per cent year [...]
Thought Machine boss backs London listing for $2.7bn fintech September 16, 2024 The chief executive of Thought Machine, one of Britain’s most valuable fintechs, has thrown his weight behind a London IPO, but admitted he is under pressure to list in New York.
Revolut founder Storonsky saw ‘up to £230m’ windfall in employee share sale September 12, 2024 Revolut's billionaire founder and chief executive Nik Storonsky reportedly sold up to $300m (£230m) worth of his stake in the fintech during an employee share sale last month.
Move over London – regional cities are leading the financial services jobs boom September 12, 2024 New data has revealed the huge impact that regional cities in the UK have had in driving growth in the financial services sector, with more than half of all jobs created outside London. The research by industry body The City UK found that of the 354,000 jobs created within the sector between 2012 and 2022, more [...]