Loot was a startup that offered a current account for millennials; last month it went into administration after they ran...
Russia is seeing an exodus of entrepreneurs, computer programmers, as well as other educated middle-class citizens as Western sanctions and political instability make it impossible to run an international business in the country.
The pandemic has helped to accelerate a number of changes in financial services as banks have been forced to shift...
There was a recent technology debate held at the Connaught Hotel hosted by Mortgage Solutions and Capita Mortgage Software Solutions that focused on some of the newer technology coming to the mortgage market; a key piece of the conversation focused on the use of APIs which would help to connect brokers and lenders and cut down on repetitive work; according to Mortgage Solutions, the individuals at the event thought that some lenders might be close to rolling out an API but large scale adoption was still potentially years away; other technology discussed included chatbots, artificial intelligence to help read through bank statements and how the open banking initiative will affect the industry. Source
Orange is a large French telecom company and recently announced plans to launch their own bank; the company is hoping to capitalize on the movement to online banking and is the first telecom company to launch a bank; they are targeting 2 million clients in ten years which would represent 25% of the online banking market; 25,000 of their current customers have expressed interest in the new offering (out of its 21 million mobile clients). Source
Banking tech vendor Temenos has signed Optimus Cards, a UK-based white-label card and banking-as-a-service provider, as its new client.
Temenos has launched ESG Investing-as-a-service to help banks and wealth managers cater to the increasing demand for sustainable investing.
Tencent, the Chinese-based tech group, has a new stake in Monzo, which shows a big recovery in Monzo’s fortunes as it’s now valued at $4.5 billion.
TeraFXUK published its financials for the year 2021, which ended on December 31, reporting an almost 274 percent increase in its annual turnover.
Terra entered the crypto scene as the poster child for creating a stablecoin and enabling decentralised finance. Its crash has left investors questioning the mechanism.