Monzo slapped with £21m fine by City regulator July 8, 2025 Monzo has been slapped with a £21m fine by the Financial Conduct Authority after “repeatedly” opening accounts for “high-risk” customers. The UK fintech was blasted by the City watchdog for failing to keep the pace of its crime control with its customer and product growth. Between August 2020 and June 2022, Monzo signed up over [...]
Starling Bank sets sights on US expansion June 26, 2025 Starling Bank has set its sights across the Atlantic for future growth prospects as the UK fintech eyes a US banking licence or entering the market through an acquisition. The neobank took a £223m hit to profit in 2024, down from £301m in the previous year and has since scouted endeavours overseas to boost its [...]
Zopa: Fintech bank takes on HSBC and Lloyds with current account June 24, 2025 Digital bank Zopa is parking its tanks on the lawns of the UK’s top lenders – with a new high interest current account. The London-based fintech has launched “Biscuit,” which it said will allow customers to make £256 in cashback and interest per year. The current account offers two per cent AER interest on balances, [...]
Challenger banks scout exit routes as giants circle Metro and TSB June 19, 2025 Analysts are pencilling in a fresh wave of banking deals with challenger banks set for a market departure. Moody’s analysts have said challenger banks will “seek exit after weak performance” as industry juggernauts set their sights on ramping up their market share. Takeover talk has gripped the City after reports Shawbrook’s private equity owners were [...]
Will fintech banks survive falling interest rates? June 13, 2025 Fintech lenders have accelerated their swing to profitability after interest rates spiked. The UK’s neobanks pocketed record revenues in the last 12 months. Revolut’s takings grew 72 per cent topping £3.1bn. Meanwhile Monzo’s revenue hit £1bn for the first time. But this came as interest rates maintained a post-financial crisis high of 5.25 per cent [...]
UK fintech Wise ditches London primary listing for US June 5, 2025 Money transfer firm Wise dealt a crushing blow to the London Stock Exchange on Thursday, after announcing plans to transfer its primary listing to the US. The UK fintech’s new proposals include a dual listing in the UK and US, but with the latter as a primary base. Wise said transferring its main listing would [...]
Monzo boss: Our tech will help us beat the big banks June 4, 2025 The boss of Monzo said the fintech darling is ready to take the fight to traditional lenders and “bets every day of the week” on its chances. Speaking at the Money 20/20 conference in Amsterdam, TS Anil said the next decade of banking would present “a race between two sides of the industry.” Anil said [...]
Monzo: The rockstar fintech setting the City abuzz June 3, 2025 Monzo has dominated City chatter in recent months with its hotly anticipated IPO, and now the fintech unicorn’s latest financial results indicate the talk is only going to get louder. The UK fintech veteran broke another milestone in the last 12 months after topping £1bn in annual revenue. Behind the surge in takings was a [...]
Monzo: Fintech unicorn tops £1bn in revenue on road to landmark IPO June 2, 2025 UK fintech giant Monzo reported its second consecutive year of profitability on Monday after the neobank’s revenue climbed above £1bn for the first time. The firm’s revenue increased 48 per cent to £1.2bn as it reported huge expansion across business arms amid rising expectations for a London flotation in the coming months. Customer deposits jumped [...]
UK fintech: Can Britain’s booming sector conquer Europe and the US? June 1, 2025 UK fintechs have transformed the British banking landscape – and firms are fixing their eyes on international endeavours. Top names ballooned profits and customers bases over the last year whilst picking up a fleet of accolades. London-based Allica Bank was dubbed the UK’s fastest growing private company by The Times Hundred and Europe’s fastest growing start-up by Sifted. [...]