UK Banks look to cut costs and get ahead in digital race
- 5 years 2 months ago
- Banking
With the banks annual reporting season well underway in the UK, analysts are expecting a combined profit of £23.9 billion for the four largest players in the last year – an astonishing 85 per cent rise from 2017. However, the pressure for traditional banks to compete with their agile digital rivals is growing, with 35 per cent of profit margins under threat by their fintech counterparts in coming years.
ClearBank supported by Tide awarded £60 million grant from RBS Alternatives Remedies Package
- 5 years 2 months ago
- Banking
Tide, the SME-only leader in digital challenger banking, is delighted to announce that its partner, ClearBank, a next-generation clearing bank, has been awarded a grant from the RBS Alternative Remedies Package of £60 million. The grant is one of three from Pool A of the Capability and Innovation Fund that forms part of the £775 million package, backed by the UK Government, and overseen by Banking Competition Remedies Ltd.
Banking Competition Remedies Ltd (BCR) announces the awards of Pool A Capability and Innovation Fund
- 5 years 2 months ago
- Banking
The Board of Banking Competition Remedies Ltd (BCR) today announces the results of the Capability and Innovation Fund Pool A grant process. The Capability and Innovation Fund Pool A is designed to promote competition in the market for banking services to SMEs in the United Kingdom through expansion of each successful applicant’s business capacity, product offering and/or target markets.
Lunar Way taps Norway market
- 5 years 2 months ago
- Banking
Lunar Way continues its expansion and launches in Norway. This happens only a week after the fintech shared the news that they received €13 million in funding to take on the Nordics. It was only a week ago that the Nordic fintech Lunar Way shared the news that they had received €13 million in funding to take on the Nordics. Now they are launching in Norway.
Celebrity Awards entering the Digital Banking space!
- 5 years 2 months ago
- Banking
UK-based fintech Arro Money is incredibly excited to announce the recent signing of a letter of intent with global media, events and talent specialist Invincible Group. "We’re very excited to work with Invincible Group to develop a unique product, which will capitalise on their sporting and film industry celebrity and social influencer partnerships and our white label solution"
Study: Consult Hyperion reveals increasing cost and complexity of business banking
- 5 years 2 months ago
- Banking, Infrastructure
A new report from identity analyst Consult Hyperion has revealed the five biggest challenges currently facing financial institutions when onboarding business customers.
Chartered Banker Institute becomes one of the first UK organisations to endorse the UN Principles for Responsible Banking
- 5 years 2 months ago
- Banking
The Chartered Banker Institute is proud to announce that it has become one of the first UK organisations to endorse the UN Principles for Responsible Banking.
Path Solutions’ iMAL is Powered by Oracle Cloud and Now Available in the Oracle Cloud Marketplace
Path Solutions, a leading provider of Sharia-compliant software solutions and technology-based services, and Gold level member of Oracle PartnerNetwork (OPN), today announced that its world-class core banking platform, iMAL has achieved Powered by Oracle Cloud status and is now available in the Oracle Cloud Marketplace offering added value to Oracle Cloud customers. iMAL enables measurabl
UK Startups Plan for Growth Despite Brexit Uncertainty
- 5 years 2 months ago
- Banking, Infrastructure
Silicon Valley Bank (SVB), the bank of the world’s most innovative businesses, enterprises and their investors, released the 10th anniversary edition of its Startup Outlook Report today. The report is based on a survey of 1,400 startup founders and executives primarily in the UK, the US, China and Canada.
Mexico Leverages Mobile Payments for Unbanked People
Mexico’s new leftist government is betting on financial technology to help lift people out of poverty. The administration of President Andres Manuel Lopez Obrador recently announced measures aimed at making financial services more affordable in a nation where more than half the population is unbanked. It is planning a digital payments system run and built by the central bank that will allow Mexicans to make and receive payments through their... more
Braintri co-developed IKO mobile app voted world’s best twice
- 5 years 2 months ago
- Banking
Warsaw, Poland, February 19, 2019. For the second year in a row, IKO, the mobile app of the CEE financial industry giant PKO Bank Polski, took top spot in a global industry ranking of mobile apps of 100 worldwide banks.
Liechtenstein’s LGT goes live with Avaloq Banking Suite in Austria
- 5 years 2 months ago
- Asset Management, Banking
The Avaloq Banking Suite is now available in Austria: The Austrian unit of LGT, the international private banking and asset management group owned by the Princely House of Liechtenstein, has gone live with the Avaloq Banking Suite. The roll-out complements similar activation projects for LGT with Avaloq in Liechtenstein, Switzerland, Singapore and Hong Kong. All of the group's core strategic markets now use the same banking system.
Monese integrates with Avios loyalty currency
- 5 years 2 months ago
- Banking, Infrastructure
Today, Monese, the globally-connected banking service, has joined up with Avios, the loyalty currency, so users can easily track and maximise their Avios balance and check their transactions.
Mambu secures €30 million funding to accelerate growth
Mambu, the leading SaaS banking engine, today announced it has raised €30 million in its latest funding round led by US-based Bessemer Venture Partners, one of the world's most experienced and successful SaaS-focused venture capital firms, with participation also coming from existing investors Acton Capital, CommerzVentures, Point Nine Capital and Runa Capital.
London-based fintech iwoca raises £150m in equity and debt capital
- 5 years 2 months ago
- Banking, microfinance, P2P Lending
iwoca, one of Europe’s fastest growing small business lenders, today announces it has raised an additional £150m in equity and debt capital. The investment brings iwoca’s total funding to £350m. iwoca’s most recent fundraising included a Series D equity round led by Augmentum Fintech, the specialist fintech venture capital investor. NIBC Bank and other existing investors, including Prime Ventures, also participated.
