Digital banking challenger Monese launches business accounts October 18, 2018 Digital banking app Monese will today announce its expansion into the world of business banking, as it launches accounts for young companies and entrepreneurs across the UK and Europe. The accounts will be released to UK-registered businesses first, available in 11 languages in a bid to tap the UK's growing multicultural industry base. The firm told City [...]
Ex-Barclays wealth management boss says all banks will use artificial intelligence in next five years October 18, 2018 All banks will use artificial intelligence (AI) in the next five years, according to former Barclays wealth management boss Akshaya Bhargava, as institutions prepare for the $30 trillion (£28 trillion) "great wealth transfer" from baby boomers to millennials. Bhargava, who set up AI fintech platform Bridgeweave after leaving the British bank two years ago, said financial [...]
24th October QEII Conference Centre in Westminster October 17, 2018 The Gibraltar International FinTech Forum in London is bringing together internationally recognised and respected speakers from around the world to investigate and discuss the very latest developments in the world of Blockchain, DLT and tokenomics. This year's event will be officially opened by the Gibraltar Chief Minister, the Hon. Fabian Picardo and will be presented [...]
How would you like to pay for that, madam? October 17, 2018 | City Talk The global payments industry is dramatically improving due to technology. Mobile has changed everything. Payments are getting faster and smarter. Competition is intense. And payments are revolutionsing markets in the developing world even faster than in the developed world. In just the next seven years, the McKinsey Global Institute estimates that widespread adoption and use [...]
Digital bank Oaknorth hires ex-Bank of England director October 16, 2018 Challenger bank Oaknorth has hired former Bank of England director Martin Stewart to join its advisory board. Working with the fintech as an independent adviser, Stewart was previously the director of banks, building societies and credit unions at the Bank of England. Oaknorth said it hopes that by bringing Stewart on board, it can better serve [...]
London’s status as a tech hub helping drive transatlantic deals October 11, 2018 London's status as a hub for technology and financial services is helping drive a strong flow of deals between the US and the UK according to audit firm Deloitte. Deloitte said deal volumes between the UK and US “remained buoyant” in the first half of 2018, with 238 completed deals in the period. There were 152 [...]
UK startups hold onto Europe’s venture crown with £1.4bn in funding October 11, 2018 UK startups continued to draw in attention from venture capital (VC) firms in the third quarter as Europe’s premier investment hotspot, posting a £1.4bn total draw in the three months to September compared to £1.31bn in the same quarter last year. Data compiled by KPMG Enterprise revealed the UK remained at the top of the [...]
Western Union launches Transferwise rival service in UK October 10, 2018 Western Union is gearing up to face innovation head-on as it launches a digital bank account transfer service in the UK, competing with major fintech startups such as Transferwise for command of the market. UK consumers will now be able to send up to £50,000 from the Western Union app or website directly into other bank accounts around [...]
Does Goldman Sachs retail bank Marcus really warrant all the hype? October 10, 2018 Marcus sounds worlds apart from the financial beast that is Goldman Sachs. But that’s the point – Marcus is meant to sound approachable, a bank for normal people. Named after one of the company’s founders, Marcus Goldman, this new challenger bank has proved popular since it first launched in the US back in 2016. It’s also [...]
London VC firm Mosaic Ventures closes $150m second fund for startups October 8, 2018 London-based venture capital (VC) firm Mosaic Ventures has today announced the close of its second fund, Mosaic II, at $150m (£115m) for startups across the capital and beyond. Intending to cut cheques at series A-stage for between $3m and $7m, Mosaic Ventures has previously backed the likes of London automated mortgage broker Habito, crypto wallet Blockchain and period-tracking app [...]