‘Dual squeeze’: FCA approvals for e-money licences plummet Fintech The number of successful applicants for e-money licences has plummeted in the last few years raising further questions over a slow down in market growth. Fresh figures – revealed in a Freedom of Information request by financial regulation consultancy Pathlight Associates – showed just 35 applicants were able to bag an electric money institution (EMI) [...]
Barclays consumer spending drops for first time since 2024 Banking Consumers using Barclays credit and debit cards cut their spending for the first time in 17 months in the latest sign of turmoil facing the global economy. Total spending was down 0.1 per cent year-on-year marking the first drop since November 2024, where Brits were feeling the pinch of Labour’s first Budget. Consumers mainly drew [...]
After Santander’s TSB takeover – who are the top players in UK banking? Banking Santander shocked the City last years after beating out its rivals to snap up TSB Bank. Now with the takeover complete, who are the major players in the sector? The near £3bn mega-merger of Santander and TSB has finally reached completion. And with it, Spanish-owned Santander is set to significantly beef up its UK presence [...]
Barclays shares slide as sour loan provisions balloon to £823m April 28, 2026 Barclays made a mammoth reservation for bad loans in the first quarter led by the hostilities in the global market and a single name charge in its investment banking division. The blue-chip lender set aside £823m for potential loan losses, up from £643m in the same period last year, in a stark sign the firm [...]
Santander hits pause on €5bn buyback after US takeover April 23, 2026 Santander has been forced to hit the pause button on its bumper buyback programme announced earlier this year to comply with US regulation. The Spanish-headquartered bank told markets on Thursday it would temporarily suspend the €5bn (£4.3bn) buyback launched in February to comply with US regulation around its takeover of Webster. The lender struck a [...]
UK fintech chiefs switch growth plans as capital conditions wane April 20, 2026 Over seven in ten UK fintech chiefs are switching growth plans due to the country’s ailing capital conditions. Some 71 per cent of the sector’s top bosses said they have had to adjust growth strategies as a result of tightening capital conditions, according to a fresh report from fintech advisory firm Chatsworth and market researcher [...]
Barclays reverses branch cuts as bank managers return to high street April 4, 2026 Barclays is planning to expand its high street presence and revive the “bank manager” role after years of rapid branch closures. The bank’s UK chief executive Vim Maru told the Times on Saturday that Barclays would increase its branch network beyond its current 206 sites, having already paused a programme that saw it shut around [...]
HSBC job cut plans add to mounting AI warnings for banks March 19, 2026 HSBC is weighing up cutting as many as 20,000 jobs across its global business as part of a longer-term push towards automation and AI, forming the clearest signal yet of how the technology is beginning to reshape the banking workforce. According to reports, the lender is understood to be considering reductions equivalent to around 10 [...]
Revolut lands full UK banking licence after four-year wait March 11, 2026 Revolut has landed its full UK banking licence following a four-year wait for the permit. The $75bn fintech juggernaut has been in the mobilisation stage for over 18 months after being granted approval for the licence last July. The final green light from the banking watchdog hands the digital bank permission to formally start lending [...]
Standard Chartered shares fall as finance boss exits for Apollo February 10, 2026 The finance boss of Standard Chartered has made a swift exit from the bank as he takes up a top job at asset manager Apollo. Diego De Giorgi, who joined the bank in September 2023 before becoming chief financial officer in January 2024, stepped down to lead Apollo’s European, Middle East and Africas region. The [...]