The term ‘BaaS provider’ can have different interpretations. The first Banking-as-a-Service (BaaS) providers were tech firms, focused on offering API-based core banking solutions to banks with legacy systems. The next generation of BaaS providers combined API-based platforms with regulated financial infrastructure to provision banking products and services – retail or corporate – through third-party distributors.

Multi-award-winning software provider, Bright, has announced the launch of BrightPropose, a streamlined, digital solution to producing tailored, branded proposals for accounting professionals in the UK and Ireland.

ila Bank, the digital mobile-only bank powered by Bank ABC, has unveiled a new credit card rewards program, ‘ila Rewards,’ powered by Mastercard’s PwR platform. The customizable rewards program enables customers to redeem rewards in a seamless and instant way through the ila Bank application. ila Bank is the first bank in Bahrain to utilize Mastercard’s PwR service and the first issuer in MENA to proceed with full in-app integration to offer credit card holders a personalized end-to-end digital experience journey.

PIMFA WealthTech, the FinTech platform and digital market network created to drive innovation and enhance collaboration between FinTechs and the Wealth Management sector, in association with Morningstar, have announced the results of their first collaboration.

Morningstar and PIMFA’s tech sprint – ‘the Duty of Care Tech Challenge’ - was designed to challenge FinTechs to develop solutions to help Wealth Management Firms and Advisers navigate the new Financial Conduct Authority (FCA) Consumer Duty regulation.

The burden of financial worry is having a significant impact on the mental wellbeing of millions across the UK, particularly young adults, new research from responsible lender, Creditspring, has found.

Flutterwave, Africa's leading payments technology company has announced the launch of Swap, powered by Flutterwave, in partnership with Wema Bank and Kadavra BDC. Swap is a cutting-edge solution that is backed by the Central Bank of Nigeria (CBN) to serve as a secure & reliable digital platform for Nigerians to have immediate access to foreign currency at competitive exchange rates.

finova, the UK’s largest cloud-based mortgage and savings software provider, has partnered with Sail Wills, the digital will-writing service, to incorporate its self-service will templates into finova’s Broker CRM.

As the cost-of-living crisis pushes record numbers of people to the financial edge, with many relying on loans, overdrafts or credit, Moneyhub Decisioning warns that many Brits may be at risk of falling into a spiral of missed payments and loan defaults.

Of those who have experienced difficulties, a tenth (10%) said they believe the product they were on was not the most suitable for their circumstances. 

Spectrum Markets (“Spectrum”), the pan-European trading venue for securitised derivatives, today welcomes independent retail broker Directa SIM (“Directa”) as its newest member.

Directa is a pioneer in online trading in Italy, servicing over 61,000 active accounts representing combined customer assets of around €3.5bn. It has been listed on Borsa Italiana since December 2021. It will be a direct trading member of Spectrum, using proprietary technology to act as its own settlement agent.