Industry News

How open banking payments will help businesses keep up

The pandemic forced consumers to spend more online and alerted them to the benefits of digital payments. With our research finding that 20% of UK consumers reported the pandemic changed the way they think about paying for products and services, it’s no wonder that...

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Plugging in: financial services in the metaverse

If there’s one industry buzzword this year that is on almost everybody’s lips, it has to be ‘metaverse’. Since social media giant Facebook rebranded to Meta, pivoting to what the company believes is the future of the web, the concept has brought interest and...

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Regulation and how financial services can stay compliant

The Financial Conduct Authority (FCA) is setting up an enforcement team to pursue businesses that are not meeting basic regulatory standards as part of a clampdown on what it calls “problem firms” in the financial services industry. There’s also unease among industry...

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UK fintech investment defies global downturn with 24% growth

New data released by Innovate Finance, the industry body representing the fintech community in the UK, has revealed that the country saw a 24% year-on-year increase in fintech investments in the first half of 2022, despite a global slowdown in funding. Innovate...

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FinTech Futures Jobs: Is remote working causing a workquake?

It turns out lots of us really like working from home. Click on the image to see all the vacancies on the FinTech Futures Jobs portal So much so that since 2020 in the US, around five million people have moved to a new geographical location because of the availability...

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How to deliver effective transformation with fintechs

Customers are the reason businesses exist – and if businesses are unable to keep up with customers’ constantly changing demands, they will be left behind. The global fintech market is expected to reach $332.5 billion by 2028 This is particularly relevant in financial...

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Thai banks give nod for home loans to LGBTQ+ community

State-owned housing bank advances the gender equality finance agenda Thailand passed the first reading of the Marriage Equality Bill on June 16, improving prospects in the LGBTQ+ community for greater social and legal acceptance in a conservative society.   ©...

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The 5 weirdest crypto stories of 2021

For some blockchain enthusiasts and stakeholders alike, it‘s been a year packed with adventures. In 2021, the market cap of cryptocurrencies skyrocketed 286% year over year, uplifting a $2.17 trillion industry into the stratosphere. But, with this vast creation of...

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Russian e-commerce giant Ozon acquires Oney Bank in $10m deal

Russian e-commerce firm Ozon is expanding into traditional financial services with a $10 million acquisition of compatriot Oney Bank. Sovcombank bought Oney from Auchan Group in January Ozon, which ranks as one of Russia’s largest online platforms, is purchasing Oney...

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Wise considers rare direct listing on London Stock Exchange

Wise, a $5 billion-valued money transfer fintech which grew out of the UK, is reportedly mulling a rare direct listing on the London Stock Exchange (LSE). According to Sky News, the start-up – known until last month as TransferWise – is thinking about circumventing...

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Bailey Says Market Rate Rise Reflects Optimism in U.K.

Andrew Bailey Photographer: Jason Alden/Bloomberg Bank of England Governor Andrew Bailey said an increase in interest rates in financial markets reflects optimism that the U.K. economy will bounce back shortly. The remarks sidestep the concern that policy makers in...

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Budget 2021: UK Infrastructure Bank to be based in Leeds

Leeds' status as an established financial hub makes it an ideal location for the bank, the government said The UK's first infrastructure bank, which will channel billions of pounds into big projects and help tackle climate change, will be based in Leeds. Making the...

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Banks in Germany Tell Customers to Take Deposits Elsewhere

More customers are having to pay negative rates as savings have surged amid the pandemic Commerzbank, one of Germany’s biggest lenders, has told customers since last year to pay a 0.5% annual rate to keep large sums of money with it. Interest rates have been negative...

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