Tech outages at financial firms double as watchdog warns of data breach risk November 27, 2018 IT failures at financial institutions have more than doubled in the last year, the Financial Conduct Authority has revealed, as firms fight to update their legacy technology to keep apace with fintech startups. In the 12 months to October, the UK's financial firms reported a 138 per cent increase in technology outages to the FCA, as [...]
Entrepreneurs should be selective with their investors November 27, 2018 It’s not a secret that London is the fintech capital of Europe. Startups and tech entrepreneurs can flourish here because of the concentration of world-class financial services, and the access available to funding from a variety of key players. However, the nature of investment in tech startups is undergoing a process of significant and positive [...]
Monzo confirms record-breaking UK fintech crowdfunding round November 26, 2018 Digital bank Monzo has today announced it will be heading back to the crowd for the last chunk of its series E fundraising round, with a target of up to £20m. The raise, first reported exclusively by City A.M. in August, will be the largest fintech crowdfunding round in the UK to date. Going live [...]
To lead the digital revolution, London must ensure that no one is left behind November 26, 2018 This week, I will be meeting leading businesses, charities, educators, innovators and investors at a Digital Skills Summit at the Mansion House to look at how emerging technologies are transforming the way we live, work, and communicate with each other. Building on my mayoral programme – Shaping Tomorrow’s City Today – the summit will consider [...]
Creative sector drives growth in October office space take-up as pre-let activity jumps November 25, 2018 Take-up of Central London office space surged last month, with demand from the UK’s creative sector helping to drive growth in the capital’s commercial property market. Roughly 1.3m square feet (sq ft) of office space was let in October, marking a 30 per cent rise on the same month last year, according to new data [...]
Monzo teams up with Paypoint to allow users to deposit cash in shops November 21, 2018 Digital bank Monzo has today announced a strategic partnership with Paypoint, enabling its users to deposit cash into their Monzo account at any of Paypoint's 28,000-strong network of corner shops and local stores across the UK. Deposits can range from £5 to £300, with a fee of £1 per deposit and a cap of £1,000 every [...]
Meet London’s 25 under 25 up and coming tech stars November 20, 2018 Industry network Tech London Advocates has today launched its first 25 under 25 list, highlighting the best and brightest of the UK's next generation of tech talent. Gathering insight and nominations from its community of over 6,000 technology leaders, founders and investors, the list aims to recognise the breadth of tech expertise in the UK and [...]
Tandem Bank takes in £15m from Convoy in Hong Kong expansion November 20, 2018 Fintech challenger bank Tandem has today closed a strategic partnership with Convoy Global Holdings, a Hong Kong-based financial services group which will make the London startup one of the first digital banks to launch in the city. Convoy is investing an initial £15m into Tandem Bank as part of the deal, which will provide Tandem with [...]
Banks should watch out – the fintech era has barely begun November 20, 2018 The fintech sector makes a lot of noise in London. There’s an endless stream of news about open banking and challenger banks, while the traditional finance sector watches on with a mixture of admiration and suspicion. Banks have come under attack, not only from the hype-machine, but more meaningfully from startups. Traditional finance providers that assumed [...]
Draper Esprit and Barclays back London fintech Form3 in $13m funding round November 20, 2018 Payments technology fintech startup Form3 will today reveal the close of a $13m (£10.1m) series B fundraising round, led by Graze and Perkbox-backer Draper Esprit. Existing investors Barclays Bank, Angel Cofund and several other individual backers also participated in the round. Established in 2016, the Monument-based startup builds payments-processing technology for banks and fintech firms [...]