Funding Circle slides to loss as weak economy and end of Covid loans hit lending September 7, 2023 Funding Circle swung to a loss in the first half of the year as a sluggish UK economy and the winding down of government-backed Covid loans continued to drag on the small business lender’s bottom line. The London-listed fintech posted a pre-tax loss of £16.6m in the six months to June, against a profit of [...]
SVB collapse and rising rates help fintech Clearbank double deposits in six months September 6, 2023 Clearbank has doubled its deposit base in six months as it benefited from rising interest rates and attracted new clients in the wake of Silicon Valley Bank's (SVB) collapse.
Klarna global boss doubles down on UK investment despite regulation uncertainty September 5, 2023 Buy-now pay-later giant Klarna will double down on a UK investment drive despite lingering uncertainty around a clampdown on the sector by regulators this year, its global chief has pledged. Sebastian Siemiatkowski, founder and chief of the Swedish fintech, told City PM that the UK remained a key market for the firm despite a push [...]
Wise breached Russia sanctions with £250 withdrawal and accused of having ‘inappropriate’ controls August 31, 2023 London fintech firm Wise has been accused of “inappropriate” controls by the government regulator today after allowing a sanctioned Russian customer to withdraw cash from a business account. Wise, which allows businesses and individuals to open current accounts and transfer money overseas, allowed the company of a so-called “Designated Person” to successfully withdraw £250 in [...]
Klarna closes losses and touches monthly profit as cost-cutting drive bears fruit August 31, 2023 Buy-now pay-later giant Klarna has slashed its losses and touched profitability for the first time this year after rolling out a hefty cost-cutting programme and driving down the amount of customers defaulting on payments. In its half year report today, Klarna revealed it had closed its losses to SEK 2.115bn (£153m) from SEK 6.37bn last [...]
Metro Bank founder launches fintech accelerator to get firms into ‘hyper-growth’ August 28, 2023 The founder and former chair of Metro Bank and Atom Bank has launched a business designed to support the next generation of fintech startups.
Lendinvest hit by data breach with customer information exposed August 25, 2023 Lendinvest has said it was hit by a data breach yesterday, with certain customer information made available to outside parties. The London-listed property fintech said an investigation into the incident is ongoing and can not yet confirm the precise number of individuals impacted or how long the information was in the public realm for. It [...]
Klarna going ‘all in on AI’ to fuel super-app push August 21, 2023 Klarna is “going all in on AI” as it looks to push beyond its buy-now pay-later bread and butter and take on banks on cheap lending, its global chief said.
Interactive Investor founder Sherry Coutu: entrepreneurship, climbing mountains and why Sunak’s maths plans don’t quite add up August 17, 2023 Interactive Investor founder Sherry Coutu on education, climbing mountains and entrepreneurship
Ranked: The best banks for customer service? Monzo and Starling steam ahead August 15, 2023 Which banks are the best for customer service? A new official ranking has been produced by the consumer regulator
