Digital bank Zopa today reports its first full year of profitability. Launched in June 2020, the milestone makes Zopa one of the fastest digital banks in the UK to turn an annual profit.

Zopa Bank swung to a pre-tax profit of £15.8 million for the financial year ending 31 December 2023 from a pre-tax loss of £26 million for the year ending 31 December 2022. Total operating income for the same period to 31 December 2023 was £222 million, up 47.8% year-on-year.

Bridgewise, the innovative AI-based analysis platform for global securities, has announced the completion of a $21 million funding round, bringing its total capital raised to $35 million. The round was led by SIX Group with participation from Group11, L4 Venture Builder, and other global financial institutions.

Sopra Banking Software (SBS), the global financial technology company that more than 1,500 financial institutions rely on to digitally transform the way they operate, today announced the availability of its cloud-based Instant Payments solution. The technology enables banks and financial institutions to power secure instant payments for consumers anytime, anywhere.

Order.co, a leading AI-enhanced procurement and accounts payable software, announced the complete redesign of its accounting integration, a significant improvement set to revolutionize financial management for multi-entity businesses.

UK Finance has today announced work on a new UK Regulated Liability Network (RLN) experimentation phase with eleven of its members.

The UK RLN is envisaged as a common ‘platform for innovation’ across multiple forms of money, including existing commercial bank deposits and a shared ledger for tokenised commercial bank deposits.

Baker Hill, a leading financial technology provider in delivering solutions for loan origination, risk management, and analytics, has expanded its executive team with the hire of Sheila Simpson as the company's new Chief Human Resources Officer.  

Pulsate, provider of mobile-first engagement solutions that deepen digital banking relationships and cut through noise in consumers’ moments of need, announced today that CFCU Community Credit Union (CFCU) has chosen Pulsate as its premier marketing engine for its ability to meet individual members’ needs throughout all phases of life.

Lloyds Bank has completed its first transaction using an electronic Bill of Lading (eBL) on the WaveBL trade documentation platform, in a cross-border deal that featured entirely digital exchanges of documentation.

EquiLend, the global technology, data and analytics company for the securities finance industry, today announced that it has launched Orbisa securities lending data on the Bloomberg App Portal. 

inDrive, a global mobility and urban services platform, has successfully expanded into 10 countries in Latin America in less than eight months with payments orchestration support from Yuno. 

This new milestone is announced at Web Summit Rio 2024, which launches today, and is set to welcome both Yuno CEO Juan Pablo Ortega and inDrive CEO Arsen Tomsky as speakers.