Exclusive: UK data-driven lender Channel launches £300m plan for fintech SMEs October 6, 2022 A data-driven lending firm has launched a new £300m funding plan for fintechs SMEs. A third of the UK-based Channel Capital Advisors’ £300m shot-in-the-arm will be released immediately, City A.M. can exclusively reveal. The fund, which has backing from global investors, will support digital lending fintech platforms that need cash to finance their loans to [...]
Tech industry at risk of losing best and brightest October 4, 2022 The tech sector’s working culture is continuing to prove divisive, with new data suggesting that more than half of European tech workers are considering a career change. More than a third of young tech workers (35 per cent) are unhappy in their role, with over half (54 per cent) considering a complete change of path, [...]
Revolut wins full crypto authorisation from City regulator September 27, 2022 Revolut has secured authorisation to provide full crypto services in the UK after months of wrangling with the City regulator as it waited on a temporary register.
Jupiter to sell £100m stake in Starling Bank at steep discount on April valuation September 22, 2022 FTSE 250 asset manager Jupiter is in advanced talks to sell a £100m stake in Starling Bank at a heavy discount on its most recent valuation of £2.5bn. Jupiter Fund Management is in talks with several of the challenger bank’s existing investors, with a view to offloading a seven per cent share in the firm, [...]
Ex Bank of England governor Mark Carney set to join Cultivo board September 22, 2022 Mark Carney, former governor of the Bank of England, is set to join the board of directors at Cultivo, the climate-focused fintech announced today. Carney will sit on Cultivo’s board as an independent board member whilst he continues in his current job as the Vice Chair and Head of Transition Investing at Brookfield Asset Management. [...]
Government and regulators ‘asleep at the wheel’ as UK risks fintech lead September 21, 2022 THE UK risks losing its lead in the race to be the globe’s fintech capital, founders of some of the UK’s most innovative finance firms have warned. One warned that the government was “asleep at the wheel” and not moving quickly enough to update the rule book. According to the Fintech Founders Summer Survey, in [...]
Rising fintech star explains why banks are rushing to jump on the lucrative BNPL bandwagon September 19, 2022 Virgin Money recently confirmed plans to enter Britain’s buy now, pay later (BNPL) market. The banking player is the latest player to start offering BNPL products, which generally can help people to spread the cost of purchases without adding to their overall cost. Earlier this year, another bank, NatWest, said that it planned to enter [...]
City exclusive: Brits leave Europeans trailing in digital banking September 18, 2022 Brits are significantly ahead of other Europeans in their embrace of digital forms of banking. New research, shared exclusively with City A.M. this morning, shows that people in the UK are nearly twice as likely as other Europeans to prefer applying for financial products and services online via website or app, including through online chat [...]
Wise investors ‘should be concerned’ by probe, top advisors warn September 15, 2022 Investors in troubled money-transfer firm Wise “should be concerned” by the regulatory investigation into its chief Kristo Kaarmann as it threatens to “dampen shareholder value”, a top advisory group has warned. The Financial Conduct Authority revealed in June it had opened an investigation into the Estonian founder after tax authorities ruled in 2021 that he [...]
What can Sunak-friendly fintech expect under Truss? September 12, 2022 Some fintech bosses are reconsidering what a Truss leadership may mean for the sector.