The Bank of England (BoE) has been active in researching the benefits of blockchain; it says the technology has the potential to save banks tens of billions of dollars in operating costs; the Bank of England governor Mark Carney, has cited securities settlement as one area where blockchain can provide cost savings and efficiencies; the BoE is working on initiatives for securities settlement and also researching blockchain through numerous other channels including involvement with PwC, various Blockchain consortium groups and membership in the Hyperledger. Source
Accounting firm Ernst & Young failed to request bank statements from the Singapore bank that the fintech claimed to have...
Fintech funding rounds of this size are few and far between- Zopa plans to use the investment to further its plan to "be Britain's best bank."
Marketplace lender, Bitbond, has been an industry leader, providing the first global P2P lending platform for small businesses and now known as the world's first P2P lender allowing transactions with digital currency; Radoslav Albrecht, Bitbond's founder, sees digital currency, and specifically Bitcoin, as an opportunity to expand lending availability to borrowers and help returns for investors; Bitbond is able to offer digital currency transactions through its licensing from the German Federal Financial Supervisory Authority which took three years and required in-depth investigation of the company's operations including their know your customer and anti-money laundering procedures. Source
Nutmeg has received 12 million British pounds ($14.74 million) in capital from investor Taipei Fubon Bank; the 12 million British pound fundraise follows a Series C fundraising round in November led by Convoy Global Holdings; the funding will help to support the firm's rapid growth; assets under management for its robo advisor service have been increasing significantly and are now at approximately 600 million British pounds ($736.85 million); success has been driven by demand for its discretionary investment management service which also offers low fees. Source
Post-Brexit Britain has discussed their leveling up agenda for some time. The APPG see's fintech and challenger banks as a critical part.
The EU has agreed on new landmark rules to regulate the cryptocurrency market, making it the most comprehensive regulatory framework in the world
HMBradley’s new credit card offers awards that adjust to spending Google, CFPB Team On Housing, Mortgage Search ‘Experience’ A Seminal...
Santander will acquire a controlling interest of 50.1% in Spanish trade finance software house Mercury TFS with a €30 million...
According to new research by open banking platform provider Tink 41 percent of European banks failed to meet the latest...