Revolut: Inside Nik Storonsky’s $75bn fintech empire still waiting for its crown Fintech In Revolut’s shiny new Canary Wharf headquarters, the command ‘Get Sh*t Done’ is bolted onto the walls. The unconventional office mantra is a stark reminder of co-founder Nik Storonsky’s acerbic, straight-talking manner that has kept the gas pumping at the UK’s most valuable fintech since it opened for business in 2015. “Whenever a target is set, [...]
Bank of England names first fintech cohort for scale-up regulator Fintech The Bank of England has named the first handful of UK fintech talent which will be overseen by the new regulatory ‘Scale-Up’ unit. Small business lenders OakNorth and Allica Bank – which was named the fastest-growing fintech ever by Deloitte – were listed as two of the firms that had been accepted into the first [...]
Fintechs should avoid ‘trap’ of early IPO, warns top London VC investor Fintech Fintech firms considering joining the public markets should avoid the “trap” of floating too early or risk “disaster”, a top London venture capital investor has warned. Speaking at an Innovate Finance panel discussion chaired by City AM, James Codling, managing partner of VC firm Volution, said fintechs must make sure they “get to the right [...]
Wrexham-based Chetwood Bank takes on London rivals with £1bn jump in deposits December 23, 2025 Chetwood Bank has seen a near-£1bn jump in customer deposits as the Wrexham-based business wrestled market share from London fintech rivals. The Welsh digital bank, owned by US investment fund Elliott, posted a £960m increase in customer deposits in the year to March, bringing them to £3.8bn, a rise of just over a third, according [...]
Visa shifts European HQ to Canary Wharf December 5, 2025 Payments juggernaut Visa is set to switch its European headquarters to Canary Wharf – hot on the heels of banking behemoth JP Morgan. The move from its current spot in Paddington comes amid a major resurgence in the London financial hub after a number of big firms snapped up offices in the district. Visa will [...]
Challenger banks face ‘profitability trap’ at growth crossroads September 8, 2025 The UK banking sector faces a profitability roadblock that will give the industry’s challengers an “existential” turning point. Fresh data from KPMG suggests the industry’s average return on equity will fall to eight per cent come 2027 down from 13 per cent four years prior. This is set to spark an £11bn reduction in pre-tax [...]
Zopa Bank expands payments grip with retail finance acquisition September 2, 2025 Digital bank Zopa has expanded its payments reach with a fresh takeover. The fintech has snapped up Rvvup – a platform designed to streamline businesses’ acceptance, collection and management of payments. Zopa said the acquisition will treble the size of its embedded finance business in two years, which covers the integration of financial products into [...]
Finance bosses back AI despite job loss concerns September 2, 2025 The financial services industry is set to drive more investment into AI as the industry’s senior leaders turn bullish on the tech. More than half of UK institutions expect to up their AI investment in the next 12 months while one in five said they would maintain current levels, data shared with City AM revealed. [...]
One in ten UK banking jobs at risk from AI August 27, 2025 Bankers across the UK could be on the chopping block as the industry piles billions into AI. The push into the modern tech will put some 27,000 roles at risk – representing ten per cent of the UK banking sector’s workforce. By 2030, banks across the country will have piled over £1.8bn into generative AI [...]
Five top paying savings accounts – earn up to 7.5 per cent August 8, 2025 Savings accounts are staging a fiery comeback as UK providers battle to attract customers. With the cost-of-living still rumbling on and interest rates beginning to shift, there’s prime opportunities to put money to work. A number of top accounts have upped rates in recent months – some over seven per cent – helping in a [...]