Wise: Money transfer firm hikes guidance as interest rates push up profits January 17, 2023 Money transfer firm Wise hiked its guidance for the full year today as rising interest rates cause a surge in the amount of cash it is making on its customer deposits.
Revolut builds ‘CultureLab’ to shake off workplace criticism January 16, 2023 Revolut is putting together an internal “CultureLab” to oversee its staff’s behaviour as it looks to win over regulators and address its reputation as a cut-throat workplace. The $33bn fintech firm has been beset by criticism over its poor corporate culture leading to a wave of staff exits over the past two years, including in [...]
Crypto: What to expect as world leaders gather in Davos January 16, 2023 The future of global crypto regulation is set to fall into the spotlight at Davos this week as regulators and policy makers scramble to shore up the industry in the wake of FTX’s collapse last year.
It’s Blue Monday, So Is It Time For A New Job? January 16, 2023 January is such a tough month in so many ways: you probably got paid before Christmas, meaning that your bank balance isn’t looking too healthy right now––and payday is ages away. The weather is dire, those endorphins depleted during the festivities are struggling to retain equilibrium, you’ve broken all your resolutions. The icing on the [...]
No Amigos: Controversial credit shop Amigo struggling to raise cash, firm says January 16, 2023 Beleaguered credit firm Amigo said it was struggling to raise cash from investors today as it scrambles to boost its balance sheet ahead of a planned full return to lending this year.
Cashed-up banks ready to buy UK fintech firms on the cheap in 2023, says VC chief January 15, 2023 The UK’s fintech sector will see a wave of acquisitions this year as cashed-up banks and investment firms will swoop in to buy struggling firms on the cheap, a top venture capital chief has predicted. Tim Levene, chief of London-listed venture vehicle Augmentum Fintech, said that banks had failed to properly digitally transform over the [...]
Exclusive: CybSafe’s CEO on tackling VC pattern matching as a black business founder January 14, 2023 When CybSafe CEO Oz Alashe MBE raised his Series B funding round last year, the ambitious London entrepreneur was one of only ten black British founders to have ever done so, or so he was told. While Alashe has not been able to validate that claim, it gives an insight into the stark reality of [...]
Financial Services and Markets Bill is now with the House of Lords, and its potential is extraordinary January 12, 2023 Lord Holmes of Richmond walks through the Financial Services and Markets Bill currently being debated in the House of Lords.
Open banking enters ‘new phase’ after CMA rules six major banks fulfil requirements January 12, 2023 Open banking has entered a “new phase” after the Competition and Markets Authority (CMA) determined that the six largest banks in the UK have implemented the requirements of the open banking roadmap. The open banking trustee advised the CMA on Monday that Barclays, HSBC, Lloyds, Nationwide, NatWest and Santander had implemented the remaining roadmap items. [...]
FTX: Crypto exchange’s bankruptcy team recovers over £4bn in boost for burnt customers January 12, 2023 Collapsed crypto exchange FTX has recovered more than £4.1bn ($5bn) in assets, its bankruptcy team said yesterday, as the firm scrambles for cash to cover the billions of dollars lost by customers and investors. FTX, founded by disgraced former billionaire Sam Bankman-Fried, was valued at $32bn just over a year ago but imploded in early [...]
