Revolut Launches Cross-Border Mobile Wallets
Digital bank Revolut has introduced a new cross-border money transfer service called Mobile Wallets that redefines remittance experiences, requiring only receivers’ contacts for transactions.
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India Is Among Top Fintech Cluster Hubs Globally
The World Economic Forum emphasised the role of thriving fintech hubs hosting clusters of fintech corporate headquarters and providing significant operating markets such as Singapore, the UK, the US, Mexico and India for the global growth of the fintech industry.
Aldi Introduces App-Free Payments at Checkout-Free Store
Customers at the checkout-free concept Aldi store in London can now simply tap their contactless payment card or mobile phone at a barrier to enter the store.
Zilo Raises £25 Million in Series A
British asset and wealth management software provider Zilo has announced that it has managed to raise 25 million pounds in a Series A funding round.
NatWest Launches Intellectual Property-Based Lending
NatWest Group has launched a new loan offer for fast-growing businesses.
Fintech Funding in US and UK Sees Sharp Decline in 2023
Inflation, increased interest rates, geopolitical instability, and other macroeconomic challenges brought US and UK fintechs 36% and 63% less money last year, respectively.
HSBC Reportedly Joins Ranks of Suitors for Tesco Banking Arm
HSBC has joined the list of financial institutions that are participating in a kind of race for the right to acquire Tesco Bank.
UK Executives Urge Bank of England to Cut Rates
In the United Kingdom, the executives of local companies appealed to the Bank of England to lower interest rates shortly, arguing that this decision by the financial regulator would be able to support the country’s weakening economic system after the so-called depressed confidence turned out to be at a four-month low.
UK Ethnic Minority Businesses Are Twice More Ambitious Than SMEs Overall
Recent UK research showed that almost 6 in 10 ethnic minority-owned businesses (EMBs) have ambitions to both grow and take risks, significantly higher than the overall percentage of SMEs nationwide (27%).
Revolut Reports Revenue of More Than $1 Billion in 2022
The British fintech company Revolut reported that its revenue for 2022 amounted to $1.1 billion.
UK Inches Closer to Technical Recession
The United Kingdom’s economic system is currently on a path that could end in recession.
Yoti Receives Funding From HSBC
Digital identity company Yoti has received debt financing for 12.5 million pounds from HSBC and another 7.5 million pounds of convertible debt financing from existing shareholders.
Revolut Reportedly Aims for $1.9 Billion in Revenue for 2023
The media reports that the British fintech company Revolut is aiming to generate revenue of $1.9 billion in 2023.
UK Supreme Court Says About Impossibility of Call AI as Inventor
The Supreme Court of the United Kingdom ruled that, from a legal point of view, it is not possible to designate artificial intelligence as an inventor to ensure patent rights.
UK’s Economy Shrinks
The economy of the United Kingdom in October this year showed a contraction that turned out to be stronger than expected.
UK Regulator Proposes Cap on Mastercard, Visa Interchange Fees
A proposed cap on cross-border interchange fees charged by Visa and Mastercard aims to avoid businesses overpaying after Brexit eliminated fee limitations applied in the EU.
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