UK based financial services companies saw a significant rise in cyber attacks in 2018, the industry as a whole saw...
Fintech startup, Abaka, raised 520,000 British pounds in seed funding from Anthemis Exponential Ventures and MMI Holdings' Exponential Ventures; the company intends to use the capital to hire new people and launch in the UK; the company uses artificial intelligence to help employees improve financial wellness through a savings platform so they can manage their pension plans on their phones. Source
UK fintech app Tail has been built on the promise of open banking; it has built relationships with retailers that allow it to offer users cashback promotions which are linked to a bank account; its first partnership is with Starling Bank and it also expects to be integrated with Monzo. Source
The Fintech Delivery Panel (FDP) is a new industry group focused on helping promote the UK fintech in the wake of Brexit; members include TransferWise, Funding Circle, Onfido, Monzo, FreeAgent, MarketInvoice, Starling Bank, Barclays, HSBC, RBS and Santander; the group plans to meet four times a year and post meeting minutes on the website of TechCityUK. Source
Zilch with a BNPL 2.0 business model that works directly with consumers and features no fees or late charges along with 2% instant cashback rewards, has launched in the US with over 150,000 pre registered customers.
Often marketed as a "force for good," UK fintech's actual impact on issues such as diversity and the climate crisis remains limited.
Financial infrastructure platform Fidel API has raised $65m in a Series B round led by Bain Capital Ventures, bringing its total funding to date to $88m.
February 2022 has seen "a number of regulatory updates," as well as more reports of growth within the UK Fintech sector: Report.
Nordigen is a free open banking API that provides PSD2 data connections to all major European banks.
Even with Brexit fast approaching the UK fintech investment market showed no signs of slowing down with investment setting a...