Almost three-quarters of British adults used online banking and 50 percent used mobile banking in 2019, according to UK Finance. With the coronavirus pandemic closing physical branches and the use of cash falling of a “fiscal cliff”, digital transactions have become even more crucial for the economy. The latest forecasts predict mobile banking is set to be more popular than visiting a high street bank branch by the end of 2021, but that could well prove to be too conservative in the Covid-19 world.

Fintech and payment service provider Paynetics AD, digital banking platform provider phyre and commercial bank Bulgarian American Credit Bank (BACB), have announced today the launch of new digital wallet product B@CB Pay.

Zopa has launched its first ever credit card, challenging industry standards with a product specifically designed to help customers stay in control of their money and their debt. 

Recent research from the digital bank revealed that 17% of Brits surveyed don’t believe they have tools to manage their credit cards efficiently. While one in five is unaware of their limit on their credit card and a quarter (25%) admitted to going over their limit – on average three times a year.   

Tru Technologies (Tru), a B2B fintech company focusing on providing securities lending automation services, has partnered with global business information provider IHS Markit to improve the manual securities lending process and reduce the potential for naked short selling in Korea. As part of this effort, Tru announced today that it launched a commercial version of TruWeb equipped with securities lending data from IHS Markit, making it the first company in Korea to introduce systematic securities lending.

The Financial Data Exchange is celebrating its milestone two-year-old anniversary this week after launching in the Fall of 2018 with a goal of unifying the entire financial industry around a secure, common, interoperable and royalty-free standard for user-permissioned data sharing.

“Our work has really just begun, but never in my wildest dreams did I think that FDX would grow this fast and accomplish this much in just two years,” said FDX Managing Director Don Cardinal.

VoxSmart, the global leader in Communications Surveillance has selected two markets experts to create a new Markets division. Andrew Stone and Lloyd Jensen will help VoxSmart further strengthen their products and services for Financial Markets participants.

COVID-19 has had a catastrophic impact on most industries across the world but if there’s one sector that arguably flourished it’s the financial tech (fintech) sector. With the world turning its attention to the online world as social distancing became the ‘new normal’ and various global lockdowns were announced, fintech took the reins from the ‘old school’ banking world and took some bold steps into the light.

To remain relevant and competitive in a disrupted and increasingly changing marketplace, the financial services industry has little choice but to capitalise on the potential of innovative technologies.

Private equity firm Grafton Capital has invested £7 million into Third Financial, the fast growing, innovative investment platform and software provider.