Fintech overhaul: Jack Ma to relinquish control of Chinese giant Ant January 7, 2023 Ant Group’s founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. Ant’s $37bn IPO, which would have been the world’s largest, was cancelled at the last minute in November [...]
Starling boss Boden marks quadrupling of bank’s profits with barbs at fintech peers January 6, 2023 Digital bank Starling said it expects to more than quadruple its profits to £120m and ramp up a hiring spree this year as it becomes the latest lender to be buoyed by rising interest rates and a surge in borrowing.
EXCL – The unstoppable rise of the Chief Innovation Officer in 2023 January 2, 2023 More and more UK businesses are making innovation a priority. The conviction is growing that tech and the implementation of innovative solutions drive business growth and help firms to stay ahead of the competition. It is therefore no surprise that the chief innovation officer takes an increasingly prominent position within many businesses, and that won’t [...]
FinTech sector asks UK government for more clarity in 2023 December 22, 2022 A group of UK based FinTech companies have written an open letter to the Financial Conduct Authority (FCA) calling for greater clarity on how open banking will be regulated from 2023 onwards. The letter criticizes the Joint Regulatory Oversight Committee (JROC), a regulatory body established in March by the Competition and Markets Authority (CMA). The [...]
Laws, funds and CEOs: UK tech to see big changes in 2023 December 22, 2022 In 2023, London’s tech sector will see some big changes. From change in Vodafone leadership to the Online Safety Bill, here is a look ahead to the five big City stories to watch out for. Online Safety Bill As part of a move to a safer internet, the UK government is pressing for a comprehensive [...]
London’s unicorns: City’s tech start-ups are bringing in the big bucks December 21, 2022 London’s tech start-ups have had a turbulent 2022. But while some of the original tech players in the city have struggled with rising costs and depleting revenues, newer unicorns are making moves. Here are the five London start-ups that made their mark this year, and are to be watched out for in 2023. OakNorth Valued [...]
Truphone sale jeopardised, founder puts in last-minute bid to buy back company December 19, 2022 A last minute bid from Alexander Straub, has jeopardized the sale of Truphone. Straub is one of the founders of Truphone. The company is a GSMA accredited global mobile network headquartered in London that operates its service internationally. It has an annual revenue of £45.62 m. Shares in the company were put up for a [...]
UK appoints five new innovation experts to drive post-Brexit technology boom December 18, 2022 The UK government has appointed five, industry leading experts to make use of post-Brexit freedoms by driving innovation in cutting edge sectors that will be vital to Britain’s future growth. The five new experts will work with the government’s chief scientific advisor, Sir Patrick Vallance, to review existing rules and develop a pro-innovation, regulatory approach. [...]
London payment firm launches Banking-as-a-Service solution on Advcash December 16, 2022 Fintech infrastructure firm, Mercuryo has partnered with payment platform Advcash to offer its customers access to virtual IBANs for EU and UK residents.
Tech start-ups tell No10 they will lose £1b if rebate cuts go ahead December 15, 2022 A number of UK based start-ups have written to Prime Minister Rishi Sunak, requesting that he rethink the slashed rebates for small and medium businesses. The government’s Autumn statement has limited the tax credits available to mid level companies in a bid to increase rebates available to larger businesses. According to tech start-ups this will [...]
