Tech Nation to shut down after government controversially gives funding to Barclays January 31, 2023 Start-up network Tech Nation is to be wound down after the government controversially withdrew its funding and handed it to Barclays, the organisation announced today. Tech Nation, founded by the coalition government in 2010, said it would cease operations from the end of March after the Department for Culture Media and Sport confirmed it had [...]
Ashley’s Frasers Group set to roll out buy-now pay-later product January 29, 2023 Billionaire Mike Ashley’s Frasers Group is finalising a move to roll out its own buy-now, pay-later (BNPL) scheme which will allow shoppers to borrow up to £2,000, according to reports.
Competition watchdog is asked to step in over pricing spat between Wise and Atlantic Money January 27, 2023 Money transfer firm Wise has been reported to the competition watchdog after removing one of its smaller, cheaper competitors from its price comparison tools. London-listed Wise, which offers its own comparison tool as well as a number of others on external sites, has removed or delisted any mention of Atlantic Money’s cheaper service, in a [...]
Gambling firm In Touch fined over £6m for failing to protect vulnerable customers and money laundering breaches January 25, 2023 In Touch Games has been fined £6.1m for social responsibility and money laundering failings by the Gambling Commission. The gambling firm, which operates 11 websites including bonusboss.co.uk, cashmo.co.uk, drslot.co.uk, jammymonkey.com and slotfactory.com, was charged over not having appropriate policies, procedures and controls in place and not sufficiently considering or implementing the regulator’s money laundering and [...]
Aramco-backed halal fintech opens bank branch in London despite high street bank exodus January 24, 2023 Aramco is backing American fintech Wahed as it launches a physical bank in London. However, concerns of a high street bank exodus place question marks over the branch’s future success. Wahed’s first UK-based physical bank, which opens its doors today on Baker Street, has scored £61m ($75m) from the Saudi Arabian oil giant together with [...]
Open banking body appoints former Mastercard and Natwest exec to top job January 23, 2023 The body charged with overseeing the rollout of open banking in the UK has appointed a former Natwest and Mastercard executive as its new chair, City PM can exclusively reveal, as the regime moves into its next phase of implementation. Marion King, a former director of Payments at Natwest Group and president of Mastercard UK [...]
Tech Nation ‘working round clock to secure future’ after Govt strips it of £12m contract and awards it to Barclays January 20, 2023 Start-up body Tech Nation said it is facing an existential crisis and was scrambling to secure funding for its future today, after the government stripped it of a major £12m government contract and handed it to Barclays. The Department for Culture, Media and Sport (DCMS) confirmed it had handed the new tech deal to Barclays [...]
Fintech Pensionbee buzzes towards profits after reporting boost in savers January 19, 2023 London-listed fintech PensionBee has doubled down on its prediction of profits this year after reporting a boost in customers and revenues in 2022.
Crypto market shows signs of life as Bitcoin jumps over 20 per cent – but what’s behind it? January 18, 2023 Bitcoin investors are enjoying a strong start to the year as prices in the flagship cryptocurrency rebound from historic lows seen in the wake of FTX’s collapse in November.
The fintech bubble may have burst, but these investment bankers are bullish January 17, 2023 Slashed valuations, mass layoffs, a funding drought and shuttered IPO market. For most, 2022 won’t be remembered as a stellar vintage for the fintech sector. But it wasn’t all doom and gloom, according to new analysis from investment bank Peel Hunt. A new note from the firm today says the spectacular bursting of the fintech [...]
