Jupiter to sell £100m stake in Starling Bank at steep discount on April valuation September 22, 2022 FTSE 250 asset manager Jupiter is in advanced talks to sell a £100m stake in Starling Bank at a heavy discount on its most recent valuation of £2.5bn. Jupiter Fund Management is in talks with several of the challenger bank’s existing investors, with a view to offloading a seven per cent share in the firm, [...]
Queen mourning period gave tourism and retail big boost, says payment firm SumUp September 22, 2022 The Queen’s death and funeral may have led to 10 days of national mourning, but it also gave Britain a welcome tourism boost, according to payments firm SumUp. SumUp, which provides 4m small and medium-sized firms and other organisations with payment devices, said the industry experienced a spike in the last fortnight. It released data [...]
Government and regulators ‘asleep at the wheel’ as UK risks fintech lead September 21, 2022 THE UK risks losing its lead in the race to be the globe’s fintech capital, founders of some of the UK’s most innovative finance firms have warned. One warned that the government was “asleep at the wheel” and not moving quickly enough to update the rule book. According to the Fintech Founders Summer Survey, in [...]
Rising fintech star explains why banks are rushing to jump on the lucrative BNPL bandwagon September 19, 2022 Virgin Money recently confirmed plans to enter Britain’s buy now, pay later (BNPL) market. The banking player is the latest player to start offering BNPL products, which generally can help people to spread the cost of purchases without adding to their overall cost. Earlier this year, another bank, NatWest, said that it planned to enter [...]
City exclusive: Brits leave Europeans trailing in digital banking September 18, 2022 Brits are significantly ahead of other Europeans in their embrace of digital forms of banking. New research, shared exclusively with City A.M. this morning, shows that people in the UK are nearly twice as likely as other Europeans to prefer applying for financial products and services online via website or app, including through online chat [...]
Weekend exclusive: Challenger banks stifled by excessive regulation, warns OakNorth chief September 17, 2022 UK challenger banks are being bogged down by a need to jump through the same regulatory hoops as their larger high street rivals, the chief of digital lender OakNorth said today.
Trust in a TMS for your treasury management needs September 16, 2022 | Sponsored Financing costs are expensive and complex, and probably the largest overhead a hedge fund strategy will incur. But who controls these costs, and how? Kayenta’s Cloud-based Treasury Management System delivers the transparency needed to answer these questions and the solutions to minimise potential problems. Built by a team of seasoned professionals, Kayenta leverages over 100 years [...]
Get expert help from a financial life intelligence company September 16, 2022 | Sponsored If you’re seeking insightful financial advice, consider Y TREE. The company advises clients on money and life using a combination of data, cutting-edge tech and expertise. You can make the most of processes used by sophisticated endowments, pension funds and billionaires, delivered 24/7 through the Y TREE app, as well as in person. These insights help [...]
Wise investors ‘should be concerned’ by probe, top advisors warn September 15, 2022 Investors in troubled money-transfer firm Wise “should be concerned” by the regulatory investigation into its chief Kristo Kaarmann as it threatens to “dampen shareholder value”, a top advisory group has warned. The Financial Conduct Authority revealed in June it had opened an investigation into the Estonian founder after tax authorities ruled in 2021 that he [...]
Keep momentum behind capital markets reform, Kalifa tells PM September 12, 2022 Ministers must keep the “continuity” and “momentum” behind capital markets reform in order to cement the UK’s standing as a global financial powerhouse, the author of a major government-commissioned review of fintech has warned.