Christmas isn’t cancelled: European shoppers plan to spend more online this Black Friday
Nov23

Christmas isn’t cancelled: European shoppers plan to spend more online this Black Friday

As Black Friday approaches, European consumers are not going to let a turbulent year spoil their Christmas. As shoppers continue to adapt to the changes caused by the COVID-19 pandemic, they are getting even savvier with their spending. New research from Kaspersky has found half (52%) plan to do more Christmas shopping around sales or shopping holidays, including Black Friday, compared to previous years. What’s more, a third...

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Africa Fintech Network joins forces to build the first real-time pan-African map of fintech innovation
Nov20

Africa Fintech Network joins forces to build the first real-time pan-African map of fintech innovation

Africa Fintech Network, in partnership with global data  analytics firm findexable and independent African think tank Cenfri, are launching the first  pan-African fintech census and digital map to track fintech activity across the whole of  Africa. The Africa Fintech Radar initiative will drive visibility and awareness of Africa’s  fintech innovation ecosystems before a global audience of potential partners, fintech buyers  and...

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Lloyds Bank: 2.7 million microbusinesses saved by technology during COVID-19 crisis
Nov20

Lloyds Bank: 2.7 million microbusinesses saved by technology during COVID-19 crisis

Over 2.7million (48%) of the UK’s microbusinesses have admitted they would have ceased trading as a result of the pandemic without adopting digital technology, according to the Lloyds Bank 2020 Transformation with Tech report, created in partnership with Be the Business. With another lockdown ongoing in England, and restrictions across many nations, many small businesses are facing continued struggles, but it is clear that technology...

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Ebury: 5 steps for SMEs to budget properly for the coming year
Nov19

Ebury: 5 steps for SMEs to budget properly for the coming year

During the challenging times of COVID-19, it is difficult to forecast orders and costs. This is especially true for SMEs that operate internationally and therefore are exposed to currency fluctuations and market movements. So budgeting is immensely important. Fabio Comminot, Head of Dealing, Switzerland at Ebury, one of Europe’s largest Fintechs, has provided a five-step guide to make sure budgeting is done on time. Autumn is budget...

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Yolt: Nearly 14 million UK adults more likely to spend on Black Friday than they were last year
Nov19

Yolt: Nearly 14 million UK adults more likely to spend on Black Friday than they were last year

New research* from Yolt, the award-winning smart money app, reveals that over a quarter (26%) of UK adults have said they are more likely to wait for discount days, such as Black Friday, to do their Christmas shopping than they were last year. In response to the pandemic and to help people shop smartly in the run up to the festive period, Yolt has launched a brand-new evolution of its app designed to help users to save whilst they...

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VERMEG launches Colline.Cloud to help small and medium sized firms meet new Uncleared Margin Rules (UMR) deadline
Nov19

VERMEG launches Colline.Cloud to help small and medium sized firms meet new Uncleared Margin Rules (UMR) deadline

VERMEG, the leading banking and insurance software solutions provider, has today launched Colline.Cloud, a highly cost-efficient end-to-end collateral management service, aimed at smaller buy and sell-side firms. The launch comes as the global regulations for uncleared derivatives (UMR) moves to phases five and six. However, due to COVID-19, there is a twelve-month extension to the implementation deadline. Specifically, all entities...

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Lendwise warns of looming student financial crisis and calls for tailored relief packages to address funding shortfall
Nov17

Lendwise warns of looming student financial crisis and calls for tailored relief packages to address funding shortfall

The government must act now to avoid a looming student financial crisis according to Rishi Zaveri, chief executive and co-founder of Lendwise, a specialist education finance lender. The UK has almost 2.4 million students in higher education and Zaveri warns they face a growing funding gap unless some form of government-guaranteed finance is introduced. He believes students should be given access to government-backed loans similar in...

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Counting the cost of Covid: one million self-employed pushed into debt due to pandemic
Nov16

Counting the cost of Covid: one million self-employed pushed into debt due to pandemic

One million UK freelancers have been pushed into debt since the pandemic hit, according to a new report, ‘The Cost of Covid: How the pandemic is affecting the self-employed’, released today by IPSE (the Association of Independent Professionals and the Self-Employed) and digital bank, Starling. The research, undertaken to assess the impact that COVID-19 has had on the UK’s self-employed, found that one in four (23%) freelancers have...

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Lightspeed to acquire ShopKeep to accelerate Digital Transformation of SMBs across the United States
Nov16

Lightspeed to acquire ShopKeep to accelerate Digital Transformation of SMBs across the United States

Lightspeed POSInc. , a leading provider of cloud-based, omnichannel commerce platforms, today announced it has entered into a definitive agreement to acquire ShopKeep Inc. (ShopKeep), a leading cloud commerce platform provider based in New York City. This acquisition reinforces Lightspeed’s status as a clear category leader for complex retailers and restaurateurs seeking to modernize their operations as the global economy...

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Tymit brings real-time payments to customers, powered by Modulr
Nov16

Tymit brings real-time payments to customers, powered by Modulr

Tymit, the mobile-enabled instalment credit card, has today announced it has partnered with the FinTech Modulr, the payments-as-a-service API platform, to bring real-time payments to Tymit cardholders, enabling them to take control of their finances and plan the way they pay. Many people’s personal finances have been put under pressure by the Covid-19 crisis. And while the Job Support Scheme has taken over from furlough, many will...

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Cash use in Norway falls to 4%, says report
Nov16

Cash use in Norway falls to 4%, says report

The use of cash in Norway has plummeted during the Covid-19 pandemic, and its central bank believes cash is used less as a proportion of total spending than in any other country. A survey from Norges Bank has revealed that less than 4% of spending in the country was made using cash in the autumn months this year. “Only 4% of payments are now made using cash,” said Ida Wolden Bache, executive director for monetary policy at Norges...

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SIA and Inform launch a new digital service for e-commerce payments
Nov13

SIA and Inform launch a new digital service for e-commerce payments

SIA, a leading European hi-tech company in the payment services and infrastructures sector, controlled by CDP Equity, launches a new digital service for banks, payment service providers and other financial institutions across Europe to allow their customers to speed-up the authentication process for online payments, in line with PSD2 security standards. The initiative is powered by RiskShield, an advanced risk-evaluation system...

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Hastee to acquire Typs to strengthen its position as a European leader in Earnings on Demand sector
Nov12

Hastee to acquire Typs to strengthen its position as a European leader in Earnings on Demand sector

 Hastee, the leading earnings on demand company, has agreed to acquire Typs, their Spanish counterpart, to accelerate growth across Southern Europe and beyond. The deal combines two leading Earnings on Demand companies, both providing comprehensive employee financial health platforms, to create a group that will support people and organisations across the UK and Europe. With the effects of COVID-19 further compounding existing trends...

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Clim8 smashes target for latest funding campaign by over 600%
Nov12

Clim8 smashes target for latest funding campaign by over 600%

As interest in sustainable investing continues to grow apace, Clim8 Invest (Clim8), a digital investment platform to help consumers invest exclusively in companies focused on tackling the climate crisis, has raised a further £2.4 million in funding. Investment has come from a range of venture funds, cleantech and technology experts and more than 1900 retail investors via the Crowdcube platform. Investors in this round include 7percent...

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Nucleus Software launches end-to-end digital offering to maximize Supply Chain resiliency in the Covid-19 world
Nov12

Nucleus Software launches end-to-end digital offering to maximize Supply Chain resiliency in the Covid-19 world

 Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, today announced an end-to-end digital solution to help banks increase corporate supply chain resiliency in the Covid-19 world. As many economies report the biggest economic slumps on record, and waves of lockdowns create an uncertain environment, the impact on businesses is unprecedented. Over the years,...

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Fundraising platform TapSimple signs Cancer Research UK and accelerates cashless donations
Nov10

Fundraising platform TapSimple signs Cancer Research UK and accelerates cashless donations

Feel-good fundraising platform TapSimple has today announced the addition of Cancer Research UK to its portfolio of charity clients adding to the charity’s use of contactless technology to help raise funds in an increasingly cashless society. Cancer Research UK will be able to receive digital donations from supporters, via TapSimple’s device, the Clip. The technology facilitates Contactless and Chip & Pin donations when paired...

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Checkout.com report shows e-commerce and digital payments set for major growth in 2021 across the MENAP region
Nov10

Checkout.com report shows e-commerce and digital payments set for major growth in 2021 across the MENAP region

The e-commerce and digital payment industries in the Middle East & North Africa, Pakistan (MENAP) region are set for major growth in 2021, with nearly half of consumers likely to increase their online shopping over the next year, according to a report released today by Checkout.com, a leading global payment solution provider. The Connected Payments in MENAP report also reveals that the region, which has historically been dominated...

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Nesta Challenges: Can technology ever be expected to solve societal inequalities?
Nov06

Nesta Challenges: Can technology ever be expected to solve societal inequalities?

By Tris Dyson, Managing Director, Nesta Challenges  Even before COVID-19 appeared on the scene, there were major divisions in UK society, and it’s undeniable that the pandemic has made these even deeper.  Research by The Health Foundation found that people in lower income households are much more likely to be in overcrowded accommodation, and also more likely to be in an overcrowded household with an adult aged over 75 or someone with...

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Pioneering investment platform launches: The Big Exchange
Nov04

Pioneering investment platform launches: The Big Exchange

The Big Exchange is the UK’s first actively-managed social, environmental and impact investment platform. Co-founded by The Big Issue and a coalition of 23 industry partners including AML Group, Aberdeen Standard, Alliance Bernstein, FNZ and Deloitte – it’s a big step towards a more inclusive financial system. The Big Exchange gives people an opportunity to make a positive social and environmental difference with their money,...

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New research reveals UK businesses are sleepwalking into a hidden payments crisis
Oct28

New research reveals UK businesses are sleepwalking into a hidden payments crisis

Research published today has identified the current payments dilemma UK businesses are facing. Businesses are caught between the need to reduce operational costs in harsh economic conditions, while continuing to meet rising customer expectation. The research also reveals that the hidden costs of payment process will have an exponentially greater impact on the wider business if left untreated. A major new independent study of 200...

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How can banks minimise COVID-19-related losses? asks GCD study
Oct27

How can banks minimise COVID-19-related losses? asks GCD study

The amount a bank loses on defaulted secured loans depends more on when it realises the loss than on the date of default, reveals the latest Downturn LGD Study from Global Credit Data (GCD). This suggests that banks – bolstered by much-improved capital buffers in the wake of the global financial crisis of 2008-2009 – may be able to minimise losses incurred from COVID-19-related defaults by waiting to sell collateral until it can fetch...

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PrimaryBid announces $50m Series B investment round
Oct26

PrimaryBid announces $50m Series B investment round

PrimaryBid, the British fintech platform that connects retail investors with public companies raising capital, has closed a $50m Series B investment round from a leading group of investors. The fundraising follows a period of rapid growth in 2020 during which PrimaryBid helped U.K. retail investors access billions of pounds of corporate fundraisings during the COVID-19 pandemic, including FTSE 100 Compass Group, Ocado, Taylor Wimpey...

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Lili raises $15 Million in funding to accelerate growth and support expansive customer adoption
Oct26

Lili raises $15 Million in funding to accelerate growth and support expansive customer adoption

Lili, the all-in-one banking app designed for freelance workers, announced it has raised a $15 million funding round to accelerate growth as the American workforce is increasingly turning to freelancing during COVID-19. The round was led by Group 11, with major participation from Foundation Capital, AltaIR Capital, Primary Venture Partners, Torch Capital, and Zeev Ventures. The funding brings the total amount raised to $25 million,...

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The Fintech Effect: Consumer impact and a fairer financial system
Oct22

The Fintech Effect: Consumer impact and a fairer financial system

by Ben White & John C. Pitts, Plaid Even before COVID-19, financial security was a major challenge for most Americans. Money is consistently Americans’ leading cause of stress. Three-quarters live paycheck to paycheck and just 29% are considered financially healthy, according to Financial Health Network. Financial services play a major role in helping consumers manage and make the most of their money. Clearly, there’s room for...

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FinVision event to address the practical reality of financial innovation
Oct22

FinVision event to address the practical reality of financial innovation

 FintechOS, the global technology provider for banks, insurance and financial services companies, today announced FinVision, a three-day virtual event that showcases successes, challenges and best practices for financial innovation. The event will run from November 17th to 19th and bring together impartial industry leaders, visionary speakers, and experts from the FintechOS community of banks, insurers, fintechs, investors and media....

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Yolt reveals evolved app, designed to help people save whilst they spend
Oct20

Yolt reveals evolved app, designed to help people save whilst they spend

Yolt, the award-winning smart money app, has today launched a new evolution of its technology with a series of innovative, free features designed to help users save. Launched in 2017, Yolt is on a mission to harness the power of Open Banking to empower people to be smart with their money. The app’s 1.5 million registered users are currently able to see their various bank accounts in one central place, enabling them to easily track...

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Data-driven approach to lending offers a lifeline for SMEs and banks during Covid-19 recession
Oct20

Data-driven approach to lending offers a lifeline for SMEs and banks during Covid-19 recession

Eddie Curran is the co-founder of Scottish fintech firm, Open Banking Reporting Limited (OBR) – a participant in the 2020 AG Elevate programme, which is a fast-track 10-month programme designed to accelerate selected FinTechs through the legal challenges faced by startup and fast-growing businesses. One of my favourite quotes about statistical analysis is that “data will talk to you if you’re willing to listen”. However, the insight...

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Brex taps former Spotify marketing executive June Sauvaget as CMO
Oct19

Brex taps former Spotify marketing executive June Sauvaget as CMO

Brex announced it has hired June Sauvaget as Chief Marketing Officer as it prepares to expand to a broader customer base beyond startups. Sauvaget, who hails most recently from Spotify, will leverage her deep experience developing brands to redefine what B2B customers can expect from their finance software. The global pandemic has put a spotlight on the role of technology and software to keep businesses up and running; now more than...

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Zip Co volumes surge as credit card ‘demise’ gains momentum
Oct19

Zip Co volumes surge as credit card ‘demise’ gains momentum

Zip Co has almost doubled its transactions volumes and revenue from a year ago thanks to a COVID-led boom in online shopping and what it sees as the ‘demise of the credit card model’. The buy-now-pay-later platform has reported record revenue of $71.7 million in the first quarter of FY21, up 88 per cent from a year earlier. Quarterly transaction volumes surged to a record $943.1 million, up 96 per cent, while transaction...

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Spendesk adds $18M to its Series B round from Eight Roads Ventures
Oct19

Spendesk adds $18M to its Series B round from Eight Roads Ventures

Spendesk, the leading spend management platform for SMBs, today announced it has raised $18 million in addition to its Series B round last year ($38 million). The new investment comes from global VC fund Eight Roads Ventures and brings the total raised to $68.5 million. This funding will support the strong growth Spendesk has realised despite the current pandemic, which has accelerated digitisation of finance departments and increased...

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ALPHERA sees significant growth in uptake of digital car finance platforms
Oct16

ALPHERA sees significant growth in uptake of digital car finance platforms

ALPHERA Financial Services has seen a significant growth in the number of customers using its digital and online platforms to sign and manage their motor finance agreements. Between January and September this year, ALPHERA has seen a 75% year-on-year growth in user numbers for its MyFinance platform. MyFinance gives ALPHERA customers the ability to ‘self-serve’ and manage their finance agreement online. More than a quarter of...

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UK financial institutions show resilience despite Covid-19 and Brexit uncertainty
Oct14

UK financial institutions show resilience despite Covid-19 and Brexit uncertainty

A new report highlights how Covid-19 is expected to change the financial services workplace, according to Lloyds Bank. Almost all (89%) financial institutions plan to maintain flexible working patterns for employees and eight in ten (81%) expect to use digital platforms like Microsoft Teams and Zoom to liaise with clients. Two-thirds (68%) will use new technology to automate more work. Six in ten (62%) senior leaders within financial...

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Avaloq launches Engage app
Oct13

Avaloq launches Engage app

Avaloq, a leader in digital banking solutions, has launched the Engage app, a solution that allows wealth managers and advisers to engage with clients through social messaging channels such as WhatsApp and WeChat in a secure and compliant manner. Avaloq Engage has been developed to help financial institutions capitalize on the growth of new sales and service channels and comes at a time when “conversational banking” has become a major...

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HPD LendScape partners with Emirates Development Bank to launch new national supply chain finance platform
Oct13

HPD LendScape partners with Emirates Development Bank to launch new national supply chain finance platform

HPD LendScape, a leading international secured lending platform vendor, today announces it has partnered with Emirates Development Bank (EDB) to launch UAE’s National Supply Chain Finance (SCF) platform, giving UAE businesses improved access to working capital, particularly as they cope with the added pressures of the COVID-19 pandemic. SCF solutions enable suppliers to gain quicker access to money they are owed, while buyers...

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Real demand for open banking as user numbers grow to more than two million
Oct13

Real demand for open banking as user numbers grow to more than two million

The Open Banking Implementation Entity (OBIE), the body set up by the Competition and Markets Authority (CMA) to deliver open banking in the UK, has today announced that over two million customers are now using open banking-enabled products*. This represents a significant upswing in the use of the innovative banking technology despite the disruptive effects of the COVID-19 pandemic. OBIE figures show open banking user numbers have...

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Fintech 2021: from crisis to consolidation
Oct12

Fintech 2021: from crisis to consolidation

For most people, life and work have changed fundamentally since the Covid-19 crisis began – and there are concerns that the crisis could still worsen again . Most areas of the world’s economy have been profoundly affected too, and the Fintech sector is no exception. Fintech has been both an epicentre of the crisis – and has also been central to recovery efforts, as payments have moved online and governments have sought to disburse...

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New digital first bank, Monument, receives banking licence from UK regulators
Oct08

New digital first bank, Monument, receives banking licence from UK regulators

Monument is delighted to announce that it has received an ‘authorisation with restriction’ (AWR) banking licence from the UK regulatory authorities, the Prudential Regulation Authority and the Financial Conduct Authority. It has achieved this milestone in just over 18 months, which is believed to be one of the fastest rates of progress for any new bank. Despite the challenges of the Covid-19 pandemic, Monument is in the process of...

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Machine Learning and biometrics key to fighting fraud in brave new digital world – Equifax comments
Oct08

Machine Learning and biometrics key to fighting fraud in brave new digital world – Equifax comments

Commenting on how lenders can fight back against fraudulent credit applications in the challenging COVID-19 landscape, Keith McGill, Head of ID & Fraud at Equifax UK, believes machine learning, biometrics and Digital ID progress are the answer:   “Businesses and consumers are grappling with an amalgam of new fraud and identity trends. At one end of the scale we have positive developments such as instant payments and new digital...

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Clearbanc launches in UK and will invest £500m growth capital in British startups
Oct08

Clearbanc launches in UK and will invest £500m growth capital in British startups

Clearbanc, the world’s largest ecommerce investor changing the way founders grow their business, today launches in the UK to invest £500m into online startups over the next year to help them resource their operations and drive future growth. The company is also announcing a groundbreaking inventory program, where Clearbanc will purchase directly from inventory suppliers and the company only pays Clearbanc after customers buy their...

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Temenos SaaS supports Flowe in launching an Ethical challenger bank in record time
Oct07

Temenos SaaS supports Flowe in launching an Ethical challenger bank in record time

Temenos, the banking software company, today announced that Banca Mediolanum Group’s digital bank, Flowe, has gone live with Temenos Transact and Financial Crime Mitigation (FCM) delivered as SaaS. Temenos Transact core banking technology enabled Flowe to launch in just five months as Italy’s newest challenger bank aiming to disrupt the market with sustainable and ethical financial services. Flowe launched in record time on Temenos...

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British Business Bank responds to National Audit Office Investigation into the Bounce Back Loan Scheme
Oct07

British Business Bank responds to National Audit Office Investigation into the Bounce Back Loan Scheme

The National Audit Office (NAO) has today published its investigation into the government’s Covid-19 emergency Bounce Back Loan Scheme, which is delivered by the British Business Bank. The report highlights that the Bounce Back Loan scheme succeeded in quickly supporting smaller businesses across the UK to access emergency finance, with more than 1.2 million businesses accessing loans so far, worth £38 billion. The Bank welcomes the...

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The Future is Frictionless
Oct06

The Future is Frictionless

by Paulette Rowe, CEO, Integrated and E-commerce Solutions. The future of retail is frictionless Believe it or not, the festive season is fast approaching. With less than 15 weeks until Christmas, and even fewer to Black Friday and Cyber Monday, if this were a typical year now would be the time that stores would traditionally begin ramping up their activities in preparation for their most profitable months. Of course, 2020 has been...

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Genesis, the low-code application platform for financial markets, receives strategic investment from Citi
Oct05

Genesis, the low-code application platform for financial markets, receives strategic investment from Citi

Genesis Global Technology Limited (hereafter Genesis) the global financial markets software firm, has received a strategic investment from Citi via its Markets FinTech Investments and SPRINT groups to leverage Genesis’ “Low-Code Application Platform” (LCAP) to drive its key innovation priorities. Genesis’ LCAP, enables financial firms to accelerate the delivery of technology roadmaps with a clear focus on identifying and delivering...

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SMEs stand tall in face of pandemic, with over half adapting to survive
Oct05

SMEs stand tall in face of pandemic, with over half adapting to survive

As the fear of a second wave of Covid-19 increases, SMEs are demonstrating their resilience, as research from Nucleus Commercial Finance reveals nearly three fifths (57%) have had to adapt to survive the pandemic. Of these businesses, over a quarter (27%) said the new strategy is delivering success and a further 53% said they will continue some of the new measures to help drive their business forward. In order to survive, businesses...

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$2M Seed funding to grow tech team and launch retail investor wallet
Oct02

$2M Seed funding to grow tech team and launch retail investor wallet

Pynk, the wealth management startup helping people invest smarter, today announced it has raised $2M million (£1.6M) across their pre-Seed and latest Seed round, with crowdfunding on Seedrs and FunderBeam. Notable supporters of Pynk include Founders Institute, Natwest Accelerator and 365.fintech VC. The London-based startup which uses AI to find the Wisdom in Crowds™ to make better investment decisions for all, will use this injection...

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PayPal and Mastercard expand debit card offering to more European businesses
Sep29

PayPal and Mastercard expand debit card offering to more European businesses

PayPal and Mastercard announced that they are continuing the global expansion of the popular PayPal Business Debit Mastercard. The debit card makes it easier for small businesses to have instant access to their PayPal funds and gives them unlimited 0.5% cash back on all their eligible spending. The PayPal Business Debit Mastercard is now available in five new European countries – Austria, France, Ireland, Italy and Spain –...

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Trading app Robinhood raises $660 million in latest funding round
Sep25

Trading app Robinhood raises $660 million in latest funding round

Robinhood Markets Inc, the financial technology startup credited with helping popularize trading among millennials, has increased its latest funding round from investors to $660 million, a spokeswoman for the company said on Tuesday. The new fundraising is an extension of the Series G round which was announced last month, when D1 Capital Partners invested $200 million in the company, and will give Robinhood an $11.7 billion valuation,...

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Sopra Steria commits itself to achieving “net zero” emissions in 2028
Sep18

Sopra Steria commits itself to achieving “net zero” emissions in 2028

Sopra Steria, a European leader in consulting, digital services and software publishing, announces today its commitment to reaching “net zero” emissions in 2028.  Through this commitment, which is built on the performance of its environmental programme, the Group stands as one of the most ambitious companies in its sector in the fight against climate change.  Sopra Steria commits itself to reaching the ambitious target of “net zero”...

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78% say UK banks have “surprised themselves” with their adaptability during COVID-19
Sep17

78% say UK banks have “surprised themselves” with their adaptability during COVID-19

Appian today published survey results examining the response of the UK banking sector to the coronavirus pandemic, revealing that nearly three-quarters of respondents say their organization has become more innovative as a result. The “Innovating in a Crisis: How COVID-19 Changed the Way UK Banks Deliver Core Operations” survey, conducted by FT Focus and supported by Appian, shows that banks are rising to new challenges. 78% of banks...

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UK financial institutions prioritising investment in optimising customer experience, according to new Tink research
Sep17

UK financial institutions prioritising investment in optimising customer experience, according to new Tink research

New data published today from open banking platform Tink reveals that UK financial institutions are continuing to recognise the competitive advantage of open banking, going beyond compliance and prioritising investments in improving the digital customer experience. According to previous research from Tink, UK financial institutions are spending more in open banking than in any other European country. Almost half (47%) of UK financial...

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